Fertility Services Market Overview
The global fertility services market is growing at a rapid pace. The market growth attributes to the increasing median age of first-time pregnancies. Besides, decreasing fertility and birth rates, impact the market growth positively. Technological advances in fertility treatment, alongside the prevalence of obesity disorders and lifestyle diseases, foster the growth of the market. Moreover, rising alcoholism and smoking additions escalate the market growth by decreasing the fertility rate among addicts.
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According to a leading research firm, Market Research Future (MRFR), the global fertility services market is projected to garner a valuation of USD 44,136.91 Million by 2025. In its recent study report, MRFR also asserts that the global fertility services market would grow at 8.99 CAGR over the assessment period (2019-2025). In addition to the rising incidences of infertility, cases of failed treatments, miscarriages, ectopic pregnancies, and emergency surgeries, create substantial market demand.
Additionally, gynecological conditions such as PCOS (Polycystic Ovarian Syndrome) influence market growth. Besides, attractive advantages of IVF treatments, such as pregnancy at an advanced age, or even after menopause, late marriages owing to social factors such as education, urbanization, and women empowerment boost the market growth. Also, rising cisgender marriages led by the LGBTQI community acts approved in various countries have opened a whole new avenue of opportunities for the market.
Furthermore, factors such as the growing per capita income, number of IVF clinics, and extensive uptake of fertility services worldwide propel the market growth. The Human Fertilization and Embryology Authority (HFEA) worldwide had ordered to pause all fertility services & clinics and IVF treatment procedures after the massive coronavirus hits in March 2020.
However, looking at the continually rising demand, governments in many countries have ordered to reopen them. Fertility clinics across the globe are now opening for patients seeking services & treatment. They are instructed to follow all the precautionary measures as per the guidelines provided by the governments. Also, there is so much fear about the contraction of the virus among patients. But, they are ready to take all the measures to curb it.
Global Fertility Services Market – Regional Analysis
Europe dominates the global fertility services market. The largest market share attributes to the lower fertility rate and growth in the median age of motherhood among demographics. Also, the proliferating fertility clinics and increasing per capita income create significant market demand in the region. Moreover, increasing obesity cases and the growing IVF tourism in Spain drive the regional market growth. France, Spain, Germany, and the UK account for a considerable share in the regional market.
North America accounts for the second-largest share in the global fertility services market. The market is predominantly driven by the rising infertility cases among males as well as females. Also, high per capita income, the presence of huge numbers of fertility clinics, and the growing number of embryo banking facilities in the region boost the market growth. Besides, the early adoption of advanced fertilization technologies and IVF treatment is further fuel the regional market growth.
The Asia Pacific fertility services market is projected to expand at a faster rate. Factors such as the declining fertility rates and delayed pregnancies among demographics due to gynecological conditions impact the regional market growth. Additionally, the rising rate of IVF treatments, alongside the economic growth in the region, influences the market growth. Also, the large population, along with the rapid urbanization and industrialization, increase the size of the market.
Global Fertility Services Market – Segments
The report is segmented into three dynamics;
By Underlying Cause : Female Infertility and Male Infertility.
By Treatment Type : ART, In-vitro fertilization (IVF), Frozen Embryo Replacement (FER), Artificial Insemination, Infertility Drugs, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Global Fertility Services Market – Competitive Landscape
The fertility services market appears fragmented with the presence of several well-established players. Players collaborate with large hospitals to market their services through physicians and patients.
Industry players strive to provide customized services after appropriate modifications to ensure high accuracy and consistency. They also increasingly invest in R&D activities, to upgrade laboratories, and to develop a state-of-the-art portfolio. They are also focusing on a strong sales network, alongside lead generation strategies.
Major Players:
Players leading the global fertility services market include CooperSurgical, Inc. (US), Merck KGaA (Germany), Care Fertility (UK), INVO Bioscience (US), Ferring B.V. (Switzerland), Vitrolife (Sweden), Cook (US), Monash IVF Group (Australia), Kitazato Corporation (Japan), and FUJIFILM Irvine Scientific (US), among others.
Industry/ Innovation/ Related News:
July 01, 2020 ---- Premom, the only fertility tracker, ovulation app launched first data-based fertility telehealth services to empower fertility consultants during the lockdown and social distancing period. Premom ovulation app is a fertility companion offering an accurate and simple ovulation tracker and period calendar (period calculator). With the first in-app data-based virtual consultation program, fertility consultants can remotely analyze the home testing data, charts, and other symptoms to provide a more relevant and effective solution.
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