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Western Europe's Fertility Services Market Size Is Anticipated to Reach $90.14 Billion By 2027 At A CAGR 13.6% || Merck KGaA, Care Fertility, INVO Bioscience, Vitrolife, Monash IVF Group
Fertility Services Market
The Business Research Company's Fertility Services Global Market Report 2023 identifies the growing infertility rates as the major driver for the fertility services market's growth in the forecast period. Various social and environment-related factors such as lifestyle changes including obesity, stress or depression, and high consumption of alcohol contribute to a surge in infertility rates, thereby generating the high requirement for fertility services. For example, in 2020, according to NPR, a US-based non-profit media organization, there were 4% fewer babies born in the United States in 2020 than in 2019. The preliminary figures showed that the overall fertility rate hit yet another record low, at 55.8 births per 1,000 women aged 15 to 44.
The global fertility services market size will grow from $47.17 billion in 2022 to $54.12 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fertility services market size is expected to grow to $90.14 billion in 2027 at a CAGR of 13.6%.
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Major competitors in the fertility services market are Merck KGaA, Care Fertility, INVO Bioscience, Vitrolife, Monash IVF Group, Carolinas Fertility Institute, IntegraMed, Inc., New Hope Fertility Centre and Apollo Hospitals Enterprise Ltd.
A key trend in the fertility services market includes number of research collaborations. Key companies operating in the market are projected to increase their R&D expenditure to introduce new advanced techniques and drugs used for fertility treatments. For instance, in October 2022, Maven Clinic, a US-based company specializing in telemedicine-based virtual clinic for women's and family health, collaborated with Indira IVF. The collaboration aimed at providing access to Maven members in India to Indira IVF's high-quality clinical care, other perks, and the best virtual family-building care available through the Maven platform. Indira IVF is an India-based infertility speciality clinic chain. Furthermore, in February 2021, CooperSurgical, a US-based company specializing in women's health care solutions, collaborated with Virtus Health.
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The fertility services market is segmented -
• By Procedure: Assisted Reproductive Technology (ART), In-Vitro Fertilization, Artificial Insemination
• By Service: Fresh Non-Donor, Frozen Non-Donor, Egg and Embryo Banking, Fresh Donor, Frozen Donor
• By Application: Male, Female
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the fertility services market.
The Business Research Company's "Global Fertility Services Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fertility Services Market Include:
1. Executive Summary
2. Fertility Services Market Characteristics
3. Fertility Services Market Trends And Strategies
4. Fertility Services Market - Macro Economic Scenario
5. Fertility Services Market Size And Growth
……………
27. Fertility Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Fertility Services Market
29. Fertility Services Market Future Outlook And Potential Analysis
30. Appendix
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