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Fertility Services Global Market Report 2024 To 2033 | Vitrolife, Merck KGaA, Progyny Inc., Monash IVF Group, Virtus Health, Medicover Group, Apollo Hospitals Enterprise Ltd
Fertility Services Market Share
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According to The Business Research Company's, The fertility services market size has grown rapidly in recent years. It will grow from $54.12 billion in 2023 to $62.07 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to high prevalence of pcos (polycystic ovary* syndrome), the increasing cases of premature ovarian failure, the rise in male infertility, insurance providers offering coverage for ivf (in vitro fertilization) procedures and the increase in same-sex couples.
The fertility services market size is expected to see rapid growth in the next few years. It will grow to $101.76 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to the rising infertility rate, technological developments in fertility treatment, the growing adoption of fertility services to aid in pregnancy, the increasing government initiatives, the rise in disposable income and the growing trend of late parenthood. Major trends in the forecast period include focus on artificial intelligence in fertility services, technological advancements, preimplantation genetic testing for aneuploidy screening (pgt-a), dna fragmentation index (dfi), blockchain-based fertility service apps, iot (internet of things) in in-vitro fertilization services, strategic partnerships and mergers and acquisitions.
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Market Drivers and Trends:
Growing infertility rates are anticipated to boost the demand for fertility services during 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 a high requirement for fertility services. For instance, in April 2023, according to the World Health Organization (WHO), a Switzerland-based international public health organization, millions of people in the world who are of reproductive age are going to struggle with infertility, which might influence their families and communities. Worldwide, it is estimated that 1 in 6 adults, or around 17.5% of the global adult population struggle with infertility. Thus, growing infertility rates will drive the demand for fertility services market.
Companies in the fertility services market have witnessed significant growth in the number of research collaborations as well as research funding approvals. 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 clinics 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 specialty clinic chain. Furthermore, in February 2021, CooperSurgical, a US-based company specializing in women's healthcare solutions, collaborated with Virtus Health. The collaboration aimed at emphasizing on digitalization, cryogenics, and reproductive genetics, the cooperation will lead initiatives to assist patients' fertility journeys, including those who require egg, sperm, or embryo donations. Virtus Health is an Australia-based company specializing in fertility services.
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Major Key Players of the Market:
Amazon, Zalando, Alibaba, eBay, Flipkart, ASOS, Stitch Fix, Boohoo.com, Global Fashion Group, Farfetch, Myntra, Jabong, Snapdeal, PayTM, Shopclues, Ajio, MERCARI, Zozo Town, Mash Style Lab, Trinity Arts, FIVEFOXes, F.O. International, Onwards Kashiyama, Origami, H&M, Zara, JD.com, Meituan, Bestseller Fashion Group China, Jack & Jones, Hodo, Threegun, Saint Angelo, LILANZ and Mercury Home Textile, Ted Baker, GAP, zalando.de, bonprix.de, otto.de, eBay Kleinanzeigen, Blisly, RedFox, Oodji, BTC Group, Melon Fashion Group, Aliexpress.ru, Ozon.ru, Eldorado.ru, Dns-shop.ru, Mvideo.ru, Wildberries.ru, Ulmart.ru, eBay.ru, Lamoda.ru, Citilink.ru, Macys, Nordstorm, Revolve, Net-a-porter, Mercadolibre, Amazon Brazil, Americanas, Magalu, Netshoes, Submarino, Shoptime, Noon, Ounaas, Sivvi, Ourshopee, Next UAE, Industrie Africa, Afrikrea, Kisua, The Folklore.
Fertility Services Market 2024 Key Insights:
• The fertility services market size is expected to see rapid growth in the next few years. It will grow to $101.76 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Rising Infertility Rates Fuel Demand For Fertility Services
• Increasing Research Collaborations And R&D Investments Drive Advancements In The Fertility Services Market
• Western Europe was the largest region in the fertility services market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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