Wilmington, Delaware, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The assisted reproductive technology market was worth US$ 25.9 billion in 2022. By 2031, the market is expected to expand at a CAGR of 9.4%, reaching US$ 58.6 billion. Introducing artificial intelligence (AI) could improve success rate predictions, tailor treatment plans, and increase efficiency in fertility clinics.
The storage and preservation of gametes have improved over time, enabling individuals to plan their families more efficiently. Increasing the affordability and accessibility of fertility treatments may still require addressing financial barriers to expand the demographic eligible for assisted reproduction treatments.
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Key Findings of the Market Report
- In terms of procedure, frozen donors are expected to drive demand for the assisted reproductive technology market.
- In 2022, North America held the largest share of the market.
- Asia Pacific assisted reproductive technology market forecast indicates steady growth from 2023 to 2031.
- Assistive reproductive technologies are likely to generate demand from hospitals.
- In-vitro fertilization technologies are expected to create a market for assisted reproductive technology market.
Global Assisted Reproductive Technology Market: Growth Drivers
- Infertility issues are driving the ART market due to a growing number of individuals and couples experiencing them. Changing lifestyles, delayed childbearing, and environmental factors contribute to the rise of infertility rates. ICSI, IVF, and preimplantation genetic testing (PGT) are driving market growth and continuous advances in reproductive technology. Innovations in technology often result in higher success rates and better overall results.
- The market expands as individuals and communities become more aware of and accept ART procedures. Fertility treatments are becoming more popular as societal attitudes change. Fertility treatments are in increasing demand as a result of social and economic trends that delay marriage and childbearing. Increasing disposable incomes and improving economic conditions positively impact the fertility treatment market.
- The federal government can significantly boost the fertility treatments and ART procedures market with policies and initiatives supporting fertility treatments. Fertility treatment is more likely to be pursued by individuals who have access to affordable and accessible healthcare options. Egg freezing has recently gained increased awareness as a fertility preservation method. This is particularly relevant for individuals wishing to delay childbearing for personal or medical reasons, contributing to the ART market's expansion.
- Individuals are traveling abroad for fertility treatments, which is contributing to the growth of medical tourism. ART facilities with advanced technology and competitive pricing often attract patients worldwide. Lifestyle choices and environmental factors, as well as general health concerns, have contributed to an increase in male infertility, and the need for male-focused fertility treatments has grown.
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Global Assisted Reproductive Technology Market: Regional Landscape
- North America is expected to lead the market for assisted reproductive technology. Infertility rates in the region are on the rise, with public organizations promoting awareness of assisted reproductive technology in the region. Infertility issues contribute significantly to the demand for ART. A number of factors can contribute to infertility, such as environmental factors, lifestyle changes, and medical conditions.
- A growing number of women are becoming aware of the options for fertility treatment, and the social acceptance of assisted reproductive technology has increased as well. Individuals seeking fertility treatment may be attracted to advances in reproductive technology, such as improved IVF techniques and genetic testing. Due to changing lifestyles and dietary habits, the demand for ART is expected to increase. A growing awareness of these influences may lead people to seek help from ART. A lot of things can affect the demand for ART, including the legal and ethical landscape. Fertility treatments are regulated differently across North America.
- The United States and Canada have experienced significant demand for ART procedures. Reproductive technologies and delays in childbearing contribute to the growth in popularity of ART. In the United States, approximately 330,773 fertility clinics performed ART procedures in 2019, resulting in 77,998 live births and 83,946 live births at 448 fertility clinics.
Global Assisted Reproductive Technology Market: Key Players
Technologies for resolving infertility problems are being developed and invested heavily by manufacturers. In addition to assisted conception treatments, they are working on affordable egg donation processes for consumers. Because of these activities, assisted reproductive technology is expected to gain market share.
- Merck KGaA
- CooperSurgical Inc.
- FUJIFILM Irvine Scientific.
- Vitrolife AB
- Hamilton Thorne, Inc.
- Nikon Corporation
- Nidacon International AB
- Laboratoire CCD
- Esco Micro Pte. Ltd.
Key Developments
- In November 2023, the Army opened 25 new clinics to provide IVF treatment for soldiers posted in remote areas. A notification states that the new centers are considered Level 1 ART facilities. AFMS hospitals have opened 25 of these types of centers.
- In December 2023, Non-Resident Indian (NRI) patients flooded into India in search of affordable IVF treatments due to high success rates. Over 45,000 IVF cycles have been successfully performed in India using advanced assisted reproductive technology.
Global Assisted Reproductive Technology Market: Segmentation
By Technology
- In Vitro Fertilization
- Intra-cytoplasmic Sperm Injection (ICSI)
- Preimplantation Genetic Diagnosis (PGD)
- Artificial Insemination
- Intrauterine Insemination (IUI)
- Intracervical Insemination (ICI)
- Others
- Surrogacy
- Others
By Procedure
- Frozen Donor
- Frozen Non-donor
- Fresh Donor
- Fresh Non-donor
- Embryo Banking
By End User
- Fertility Clinics
- Hospitals
- Others
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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