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 reached a value of US$ 29.9 Billion in 2021. Fertility services refer to various procedures provided as a treatment of infertility. These services are offered by various hospitals and clinics to increase the chances of pregnancy. Some of the most commonly available fertility treatment options include fertility drugs, In Vitro Fertilization (IVF), artificial insemination, surrogacy, Assisted Reproductive Technology (ART) procedures, and egg-freezing or oocyte cryopreservation. Over the years, fertility services have gained traction among couples, single parents and members of the LGBTQ+ community who cannot conceive or carry a full-term pregnancy.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fertility Services Market Trends:
The rising prevalence of delayed pregnancies due to various concerns, such as a lack of financial stability, career ambitions and expensive childcare, represents the primary factor driving the global fertility services market. Additionally, there has been a significant increase in the infertility rates on account of hectic working schedules, accompanying stress and habits like smoking and consumption of drugs. This, in confluence with the growing awareness among individuals, easy accessibility to improved healthcare facilities and flexible coverage provided by health insurance companies, has catalyzed the demand for infertility services. Furthermore, the widespread prevalence of several medical ailments, including obesity, polycystic ovarian syndrome (PCOS), sexually transmitted diseases (STDs) and endometrial tuberculosis, that can lead to infertility issues are creating a favorable market outlook. Besides this, numerous couples and women are opting for egg freezing to have children later in life when they are more mature and financially stable, thereby contributing to the market growth. Moreover, increasing advertisements and promotions on televisions and online portals, technological advancements and elevating incomes are other factors driving the market growth. Looking forward, the market is projected to grow at a CAGR of 16% during the forecast period (2022-2027).
- Based on the cause of infertility, the market has been classified as male and female infertility.
- On the basis of the procedure, the market has been segregated 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.
- The market has been divided based on the service 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 categorized into fertility clinics, hospitals, surgical centres, clinical research institutes, and cryobanks.
- Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being 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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