New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fertility Services Global Market Report 2023" - https://www.reportlinker.com/p06229191/?utm_source=GNW
The global fertility services market 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The fertility services market is expected to grow to $90.14 billion in 2027 at a CAGR of 13.6%.
The fertility services market includes revenues earned by entities by providing artificial insemination, and intrauterine insemination.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Fertility treatment is a medical procedure intended to increase the chances of conceiving a child. These services are used to increase the chances of bearing a child.
Western Europe was the largest region in the fertility services market in 2022.North America was the second largest region in fertility services market.
The regions covered in the fertility services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of services in fertility services are fresh non-donor, frozen non-donor, egg and embryo banking, fresh donor, and frozen donor.Donor eggs are collected and immediately ertilized with the male partner’s sperm in a fresh donor egg IVF cycle, with the developing fresh embryos being delivered to the recipient.
The leftover embryos can be preserved and used in future frozen embryo transfers. The different procedures include assisted reproductive technology (ART), in-vitro fertilization, artificial insemination and is used by both male, female.
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 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. Thus, growing infertility rates will drive the demand for fertility services.
The high cost of fertility services is expected to limit the growth of the fertility services market.The cost of in-vitro fertilization (IVF) primarily depends on infertility workup and varies from person to person.
For instance, the average cost of one in-vitro fertilization (IVF) cycle is $12,000.The range of cost involved in one IVF cycle can be between $10,000 and $15,000, which excludes the cost of medication which may be as low as $1,500 or as high as $3,000 per cycle.
The IVF cost is continuously rising attributing to modern diagnostic tests and various treatment methods such as hysteroscopy, IUI, and laparoscopy being used to facilitate and aid infertility treatment cost. Therefore, the high cost of fertility treatment is to act as a major challenge for the development of the 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 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.
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.
In December 2021, CooperCompanies, a US-based company specializing in women’s healthcare solutions, acquired Generate Life Sciences for $1.6 billion. Through this acquisition, CooperSurgical offers an even stronger selection of fertility centres and OB/GYNs. Generate Life Sciences is a US-based provider of donor eggs and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage.
The countries covered in the fertility services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.
The fertility services market research report is one of a series of new reports that provides fertility services market statistics, including fertility services industry global market size, regional shares, competitors with a fertility services market share, detailed fertility services market segments, market trends and opportunities, and any further data you may need to thrive in the fertility services industry. This fertility services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06229191/?utm_source=GNW
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