Assisted Reproductive Technology Market Size to Reach USD 59.64 Billion by 2029

The Assisted Reproductive Technology Market size is expected to reach US$ 59.64 Bn. by year 2029 at a CAGR of 9.8% during the forecast period. Factors contributing to the growth of the market include increasing incidences of infertility, innovation in fertility technologies, and the growing popularity of ART procedures, such as In Vitro Fertilization (IVF) and artificial insemination.

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Drivers and Opportunities for the Market Growth

One of the major components inducing growth in the ART market is the rising rate of infertility, particularly the rise in infertility among women above 30 years of age. As per the United States' Centers for Disease Control and Prevention (CDC), approximately 12.1% of women aged between 15 and 44 years of age face difficulty in getting pregnant, creating a lucrative global market for ART products. Infertility is one cause, but lifestyle changes - marrying later, greater use of tobacco and alcohol and the escalating incidence of obesity - are also driving up demand for services.

Newer technology like IVF, ICSI, and embryo vitrification are improving the success of ARTs. The innovation of new modalities and generations of tools and devices such as Geri and Gems by Merck are also helping fertility success stories attain higher levels of success. The readily availability of fertility treatments in developed as well as in emerging markets, and government incentives for ART will further fuel the growth of this market.

Segmentation Analysis

The ART Market Report investigates durable segments, and development prospectus at ART market glance and provides thorough and unmistakable information.

Research, Size, Share, growth, Trends, Statistics, Business. Technology: IVF segment lead the market in 2022, and it is Continue Continue with Highest share during the forecast period. As developments in cryopreservation techniques advance, and with the implementation of automation systems in IVF laboratories, the pregnancy rates after IVF procedures are constantly improving. Further, other techniques including artificial insemination (AI-IUI) and frozen embryo replacement (FER) are gaining traction, owing to their cost-effectiveness and efficiency.

By End-User: Fertility clinics constitute the leading market share, as they offer extensive services pertaining to ART procedures. In particular, in countries where the healthcare system is developed, there is a significant end-user of hospitals as they offer comprehensive ART treatment such as skilled birth. The market is further growing due to the increased contribution of other end-users such as research institutes and organizations providing fertility preservation services.

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Regional Insights

Europe: Being the largest segment in the ART market, Europe is driven by increasing infertility prevalence, high standards of healthcare, and government support for fertility treatments. Some countries in Europe have insurance policies covering ART procedures, so it is accessible to the couples seeking artificial insemination. This trend is expected to remain in power throughout the forecast period.

Asia Pacific - The ART market in Asia Pacific region is projected to grow at the highest CAGRs, mainly due to rapid industrialization, rise in income levels, and to increase preferences of ART methods. India, China, and Japan are witnessing rapid growth in ART industry and domestic as well as International fertility clinics are having their foothold in these countries.

North America: North America is estimated to have high ART market growth owing to declining fertility rates, development of fertility technologies and higher insurance coverage for ART therapies. The U.S. is projected to dominate the EWC market followed by Canada, due to the rising government supportive policies toward ART procedures.

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Competitive Landscape

The ART Market has remained competitive in nature over the past few decades, where key players have been focusing on expansion through new or improved technological offerings & service portfolio. The key players in the market are as follows -

VitriCell SA-an innovative company focused on IVF gamete cryopreservation methods to make ARTs more effective and bringing a catalogue of fertility products, including cryopreservation products.

Merck Group - Artical Merck offers various ART technologies like Geri and Gems, that work to minimize external embryo stressors to increase chances of a successful IVF outcome Here are trends that are expected to enhance the IVF success rate, and these trends are anticipated to be key drivers of expansion in the market.

High-performance vitrification systems for reliable results in embryo vitrification are included in the range of fully integrated ART solutions available from FUJIFILM Irvine Scientific Inc. FUJIFILM Irvine Scientific, the global leader in reproductive technologies, is at the forefront of ART innovations.

Cook Medical - develop medical devices, this company is already known on the ART market, it has materials for IVF and embryo transfer.

Ovation Fertility: Ovation Fertility has become a powerhouse in ART, emphasizing individualized treatment plans and state-of-the-art reproductive technology.

Conclusion

Growing adoption of assisted reproductive technology owing to increasing prevalence of infertility, adoption of innovative technologies, and rising prevalence of infertility is expected to drive the growth of global assisted reproductive technology market over the forecast period. The market will continue to grow as more couples and individuals in need of ART solutions, especially in developing regions, and major market players will continue to innovate to improve success rates and patient experiencing. Moreover, many governments and healthcare providers are likely to continue investing in ART technologies, facilitating the growth of the market. With the advances in ART now, the future seems bright with more and less accessible, efficient & personalized global fertility solutions.

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