Press release
Fertility Services Market Size, Share, Growth Factors, Competitive Landscape, with Regional Forecast to 2031
The fertility services market forecast is projected to grow from US$ 32.99 billion in 2023 to US$ 67.12 billion by 2031; the market is estimated to record a CAGR of 9.3% during 2023-2031.Market Insights and Analyst View:
The factors contributing to the growing fertility services market size are the increasing accessibility and availability of healthcare facilities; growing success rates of in vitro fertilization (IVF) using ICSI in men with poor sperm morphology, motility, and low sperm count; and rising healthcare and research spending. Increasing awareness regarding infertility and easier access to better healthcare facilities have also increased demand for these services in developed and emerging countries. The rise in cases of infertility-related diseases has boosted the global market in recent years. Other factors contributing to the growth of the market include increasing disposable incomes, availability of flexible coverage options from health insurance companies, and increased advertising and promotion of reproductive services through television and Internet portals. Also, the report includes growth prospects in light of current fertility services market trends such as growing launches and approvals for fertility services and technological advancements.
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Key Players Analysis:
• CooperSurgical Inc
• Vitrolife
• Cook Medical
• Care Fertility
• INVO Bioscience
• Carolinas Fertility Institute
• Genea Limited
• Merck KgaA
• LABOTECT GmbH
Growth Drivers:
Tubal abnormalities such as blocked fallopian tubes, which are caused by untreated sexually transmitted diseases (STIs) or the consequences of a botched abortion, postpartum sepsis, and abdominal/pelvic surgery can lead to infertility in women. Increasing incidences of various diseases, including endometrial tuberculosis, PCOS, and STDs, that can lead to infertility drive the expansion of the fertility services market. According to the Cureus Journal published in August 2022, the global prevalence of PCOS in the female population is estimated to be between 4 and 20%. The World Health Organization (WHO) estimated that, in 2021, PCOS affected over 116 million women (3.4%) across the world. Furthermore, according to the Lancet article in 2020, the estimated number of women suffering from PCOS in China is 24 million. Thus, this factor boosts the demand for in vitro fertilization (IVF) and various assisted reproductive techniques (ART) for women, which drives the fertility services market growth.
Report Segmentation and Scope:
The fertility services market analysis is carried out on the basis of procedure, patient type, end user, and geography. The market, based on procedure, is segmented into assisted reproductive technology, artificial insemination, and fertility surgeries. The market, based on patient type, is bifurcated into male and female. In terms of end user, the fertility services market is segmented into fertility centers, hospitals & surgical clinics, and others.
Segmental Analysis:
Based on procedure, the fertility services market is segmented into assisted reproductive technology, artificial insemination, and fertility surgeries. The assisted reproductive technology segment accounted for the largest market share in 2023. It is expected to register the highest CAGR during 2023-2031. The market for the assisted reproductive technology segment is further segmented into in vitro fertilization, intracytoplasmic sperm injection, and surrogacy.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Fertility Services Market based on various segments. It also provides market size and forecast with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Fertility Services Market by each region is later sub-segmented by respective countries and segments.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.
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