Comprehensive analysis on Assisted Reproductive Technology Market| Key Players are Cooper Surgical, Hamilton Thorne, Irvine scientific, Merck and Thermo Fisher Scientific
India assisted reproductive technology market will witness lucrative growth rate of 6.9% during the analysis period. High adoption of in-vitro fertilization in the country coupled with low cost of ART procedures should drive Indian ART market during the forecast period. Increasing number of medical facilities such as fertility clinics and several initiatives undertaken to create awareness about assisted reproductive technology should further stimulate business growth over the coming years.
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Procedures such as in-vitro fertilization are offered at low cost in developing countries such as India, hence many people having trouble with getting or staying pregnant opt for this treatment in developing countries, leading to business growth. Growing awareness about ART procedure and its success rates will further lead to industry growth during the forecast period.
Assisted Reproductive Technology Market will reach over USD 32.5 billion by 2024; as per a new research report. Increasing number of people suffering from infertility issues coupled with rising awareness about assisted reproductive technology (ART) will drive ART market over the forecast timeframe. Furthermore, changing social factors and rising disposable income should positively impact industry expansion.
Embryo/egg banking procedure segment is estimated to reach over 5.8 billion by 2024. Embryo banking preserves couple?s reproductive future. Moreover, cryopreserved eggs/embryos can be thawed later and utilized for in-vitro fertilization will drive segment growth. More than 1,000 children are conceived with the help of embryo banking in Southern California alone.
Delayed child bearing is one of the dominant factors for increasing adoption of assisted reproductive technology. Numerous initiatives such as the Asia Pacific Initiative on Reproduction (ASPIRE), an exclusive task force of scientists and clinicians, engaged in fertility management and ART in the region should support industry growth. However, high cost associated with ART treatment will hamper industry expansion to certain extent over the coming years.
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Hospitals end-use segment accounted for 6.8 billion in 2017. Rising prevalence of infertility problems coupled with growing awareness about assisted reproductive technology and its success rate should drive segment growth during the forecast period. According to CDC data, around fifteen states in the U.S. provide insurance coverage for infertility treatment should positively impact market growth.
Few notable players operating in global assisted reproductive technology market are Cooper Surgical, Hamilton Thorne, Irvine scientific, Merck and Thermo Fisher Scientific. Industry players are investing heavily in developing cost-effective products to gain competitive edge in lucratively growing markets of developing regions such as Asia Pacific. Companies are adopting strategies such as acquisition and partnership with local players of these regions to consolidate their market position.
Germany assisted reproductive technology market will reach 2.2 billion by 2024, owing to high technology adoption coupled with rising awareness about ART procedures in the country. Delayed child bearing is major driver for assisted reproductive technology market growth in Germany. Growing demand and adoption rate of ART will drive industry growth during the forecast timeframe.
Table of content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Assisted Reproductive Technology Industry Insights
Chapter 4. Assisted Reproductive Technology Market, By Procedure
Chapter 5. Assisted Reproductive Technology Market, By Technology
Chapter 6. Assisted Reproductive Technology Market, By End-use
Chapter 7. Assisted Reproductive Technology Market, By Region
Chapter 8. Company Profiles
Global Assisted Reproductive Technology Market Size, Status and Forecast 2019-2025
Assisted reproductive technology (ART) is a wide range of procedures that are used to treat infertility in men and women. Generally, ART procedures include techniques, such as IVF, ZIFT, GIFT, ICSI, and artificial insemination, which help individuals to conceive a child.
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