According to the latest report by IMARC Group, titled “Fertility Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global fertility services market size reached US$ 16.3 Billion in 2018. Fertility services refer to the procedures which are utilized as a treatment for infertility issues. There are various clinics and hospitals, which offer these services, which are widely being adopted by couples, single parents and members of the LGBT community who are unable to conceive or carry a full-term pregnancy. Some of the most common treatment options include fertility drugs, surrogacy, artificial insemination, In Vitro Fertilization (IVF), egg-freezing or oocyte cryopreservation, and Assisted Reproductive Technology (ART) procedures.
Global Fertility Services Market Trends:
A significant rise in infertility rates and inflating per capita income levels have led a majority of the population to opt for fertility services. On account of hectic working schedules and sedentary lifestyle habits, there has been a significant increase in the incidences of stress, obesity and polycystic ovarian syndrome (PCOS), which have impelled the demand for fertility services across the globe. The rising trend of late pregnancies, especially among the expanding career-oriented population base, is also creating a positive outlook for the market. Nowadays, people prefer to have children later in life when they are more mature and financially stable. Additionally, several women and couples are opting for the freezing of eggs, which can be utilized when they wish to have children. Other factors, such as technological advancements, growing awareness regarding fertility services and enhanced access to improved healthcare facilities, are further driving the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 27.0 Billion by 2024, expanding at a CAGR of 8.8% during 2019-2024.
Market Summary:
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