Assisted Reproductive Technology Market Top Players | Cooper Surgical Inc., Cook Medical, Genea Limited, Hamilton Thorne, IVFtech ApS, Irvine scientific, Merck, Nidacon International AB, OvaScience Inc., Thermo Fisher Scientific, Inc., Vitro Life
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.
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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.
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.
Frozen embryo replacement (FER) technology segment will witness significant growth of 6.1% during the forecast period. FER technology has high success rate as compared to fresh embryo transfer cycles as well as it offers better planning for transfer of embryo. Nearly 85% of embryos survive thawing procedure, reducing need for repetitive procedures. All these factors will drive segment growth during the forecast period.
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.
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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.
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.
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.
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