According to the latest report by IMARC Group, titled "Fertility Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global fertility services market size reached a value of US$ 73.1 Billion in 2021. Fertility services include various treatment procedures that are offered to aid with infertility. Infertility is a medical condition that is defined by the inability to achieve pregnancy, which is caused by numerous factors, including abnormal sperm functions or production, ovulation disorders, abnormal hormone level, issues related to sperm delivery, chronic diseases and fallopian tube damage or blockage. They comprise the utilization of prescribed medications that help with ovulation and hormones and minor surgeries that are done to implant the egg in the uterine lining. Besides this, they also include multiple lab tests related to semen analysis and imaging procedures or studies of the reproductive organs.
Global Fertility Services Market Trends:
The global market is primarily driven by the rising prevalence of infertility among the masses. This can be attributed to the sedentary lifestyle led by individuals and the growing incidences of acute illnesses. Furthermore, the growing awareness among lesbian, gay, bisexual, transgender, non-binary and queer (LGBTQ) community and single parents regarding the available treatments is propelling the demand for fertility services across the globe. Along with this, continuous improvements in the healthcare industry are providing an impetus to the market. Moreover, the escalating investments by public and private agencies for the development of medical infrastructure across rural and geographically extended locations are creating a positive market outlook. Apart from this, extensive research and development (R&D) activities conducted by key players in the field of life science and biotechnology are impacting the market favorably. Additionally, continual technological advancements in the healthcare sector and continuous developments in assisted reproductive technology (ART) are acting as other growth-inducing factors. Other factors, including inflating disposable income levels of individuals and aggressive marketing strategies adopted by numerous leading players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 29.9 Billion by 2027, exhibiting a CAGR of 16% during 2022-2027.
- On the basis of the cause of infertility, the market has been segmented into male and female infertility.
- Based on the procedure, the market has been classified into in vitro fertilization with intracytoplasmic sperm injection (IVF with ICSI), surrogacy, in vitro fertilization without intracytoplasmic sperm injection (IVF without ICSI), intrauterine insemination (IUI) and others.
- On the basis of the service, the market has been bifurcated into fresh non-donor, frozen non-donor, egg and embryo banking, fresh donor and frozen donor.
- Based on the end-user, the market has been segregated into fertility clinics, hospitals, surgical centres, clinical research institutes and cryobanks.
- On the basis of the region, the market has been divided into Europe, North America, Asia Pacific, the Middle East and Africa and Latin America.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Instituto Bernabéu Group, INVO Bioscience, Inc., Monash IVF Group, Apollo Hospitals Enterprise Ltd., CARE Fertility Group Ltd., Carolinas Fertility Institute, Genea Limited, The Cooper Companies, Inc., Virtus Health Group, Vitrolife Sweden AB, The Johns Hopkins Health System Corporation, Medicover AB (publ), OvaScience, Inc., Progyny, Inc., and Xytex Corporation.
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