Assisted Reproductive Technology Market Value Projected to Expand by 2025
The global assisted reproductive technology stood at US$22,100.0 million in 2016 and is projected to reach a revenue worth of US$37,789.6 million by 2025 end. During the assessment period of 2017–2025, the global market is anticipated to expand at a CAGR of 6.3%.
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The broad procedures in assisted reproductive technology comprise frozen non donor, frozen donor, fresh non donor, embryo banking, and fresh donor. Of all these, the use of fresh non-donor cycle is anticipated to emerge as the dominant one. Their widespread demand can be attributed to the marked preference of parents to have children from their own genes.
On the geographical front, Asia Pacific is expected to contribute leading revenue to the global market over the assessment period. The growth will be fueled by substantially rising demand from emerging economies to address several infertility problem among the population. Meanwhile, North America is a potentially lucrative regional market attributed to the rising uptake of ART services in the U.S.
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Effectiveness of ART Procedures in Treating Various Infertility Problems bolsters Demand
The rising incidence of infertility across the globe, along with the substantially rising disposable incomes of couples in various parts of the world, is a key factor underpinning the evolution of the assisted reproductive technology market. The growing awareness about ART services among the population globally to effectively improve maternal and infant outcomes is a notable trend bolstering the demand.
The growth of the market receives a marked momentum from the rising government funding of in vitro fertilization (IVF) technology in numerous developing and developed nations. The rising initiative by governments of several countries to regulate the provision of ART procedures to enhance their safety and effectiveness augurs well for their demand. Furthermore, continuous government efforts in developing countries to improve the healthcare infrastructure for fertility treatments are fueling the growth of the assisted reproductive technology market.
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Substantial Advances in ART Procedures unlock Promising Prospects
The global market has greatly benefitted from the constant evolution of ART protocols, notably in intrauterine insemination (IUI) and IVF. Rapid advances being made in various procedures related to ART have improved the live birth rates among couples, especially those with unexplained fertility problems. In this regard, substantial progress made in pre-implantation genetic diagnosis (PGD) in recent years have enabled physicians and fertility specialists to improve the maternal and child outcomes of assisted reproductive technologies. Furthermore, rapid advancement in genetic techniques is expanding our knowledge in assessing pre-treatment characteristics, thereby proving vital to the success rate of ART procedures.
However, the market is still to realize its full potential in less developed economies or even in few emerging economies which are plagued by the lack of adequate healthcare infrastructure supporting assisted reproductive technology treatments. The rising prevalence of reproductive problems, along with the growing social acceptance of ART procedures, in emerging economies is catalyzing the market growth.
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