Fertility Services Market To See Record Break Revenue $25.70 Billion By 2027 | Medicover Group, Monash IVF Group

Fertility services involve different procedures utilized to treat genetic and fertility issues and assist with conception. These services include different assisted reproductive technology (ART) methods, helping couples or single parents around the world.

The global fertility services market size generated $20,388.61 million in 2019 and is projected to reach $25,709.64 million by 2027, growing at a CAGR of 15.9% from 2020 to 2027.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Asia-Pacific is estimated to be the highest revenue contributor throughout the forecast period. Surge in prevalence of delayed pregnancies and growth in infertility rates drive the growth of the fertility services industry.

The fertility services market is negatively impacted by the pandemic. In addition, most fertility clinics across the globe have stopped undertaking new cases of infertility treatment for the next few months, till the condition seems to be under control. For instance, on March 17, 2020, the American Society for Reproductive Medicine (ASRM) issued certain recommendations that included not initiating new cycles of assisted ovulation, intrauterine inseminations (IUIs), in vitro fertilization (IVF), or “non-urgent” egg freezing. Some women have postponed their fertility consultations, whereas others have delayed their dates of embryo transfer until the pandemic situation ends and life comes back to normal.

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In addition, availability of latest medical technologies in IVF devices throughout the world, is expected to fuel the fertility services market growth. Fertility services comprising the usage of novel technologies are associated with higher success rates, for instance, the use of incubators, imaging systems, and software to check the growth development of embryos. Embryoscope (Create Health) is one such product wherein the embryos can be monitored without the need of retrieving them out of the incubators, thus helping in selecting the healthy embryos.

The fertility services market is driven by increase in infertility rates, rise in trend of delayed pregnancies, surge in ART success rate, and growth in disposable income. Furthermore, rise in prevalence of infertility due to increase in risk factors, such as obesity, stress, polycystic ovarian syndrome (PCOS), sexually transmitted infections, endometrial tuberculosis, and other medical conditions, is expected to offer lucrative opportunities for the market growth during the forecast period.

By procedure, the IVF with ICSI (intracytoplasmic sperm injection) segment accounted for more than half of the revenue market share in 2019. This segment is expected to exhibit a prominent growth rate, owing to some key factors such as higher success rates associated with ICSI-IVF in case of poor sperm morphology, poor sperm motility, low sperm count, and others.

By service, the fresh non-donor segment accounted for major share of the market in 2019. This segment is expected to exhibit a prominent growth rate, owing to rapid increase in infertility rate, technological advancements, and change in lifestyle.

By end user, the fertility clinics segment held a substantial revenue fertility services market share in 2019. This segment is expected to exhibit a considerable growth rate, owing to delayed pregnancy trends in women, advantages of fresh embryo transfer over the frozen embryo technique, increase in rate of infertility, and higher success rate of this technique.

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By region, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to surge in adoption of fertility procedures, development in the healthcare infrastructure, and rise in fertility tourism.

The Major Key Players Are:

• Apollo Hospitals Enterprise Ltd.
• Care Fertility Group
• Carolinas Fertility Institute
• Genea Limited
• The Johns Hopkins Health System Corp
• Medicover Group
• Monash IVF Group
• OvaScience Inc.
• Progyny Inc.
• Xytex Cryo International.

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