New York, USA, Dec. 14, 2020 (GLOBE NEWSWIRE) -- According to a Research Dive published report, the global assisted reproductive technology market valued for $24.6 billion in 2019 and is estimated to surpass $56.3 billion by 2027, growing a CAGR of 10.7% from 2020 to 2027.
Impact on Market Due to COVID-19 Outbreak
The global assisted reproductive technology industry is predicted to witness an increase in growth rate during the forecast period, due to the COVID-19 outbreak. As per the report, the assisted reproductive technology market was likely to rise at a CAGR of 10.3% from 2020 to 2027 prior to COVID-19 crisis. Now, due to the COVID-19 pandemic, the global market is projected to rise at a CAGR of 10.7% over the forecast period.
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This is mainly due to the increasing number of infertility cases across the globe, owing to stress, pollution, obesity, and changing lifestyles of people. Comprehensive analysis on drivers, challenges, opportunities, restraints, and strategies executed by various governments and market players across the globe are further provided in the report.
Current Market Landscape Due to COVID-19
The COVID-19 pandemic has progressively impacted the global assisted reproductive technology market in 2020. The anticipated pre COVID-19 market size for assisted reproductive technology market was $27.0 billion in 2020 and is expected to observe a robust growth and reach up to $27.6 billion due to COVID-19 pandemic.
The growth of the market is majorly attributed to a surge in approval of assisted reproductive technology by government authorities for the treatment of infertile couples. For example, in February 2020, the Indian government passed ‘ART (assisted reproductive technology) regulation bill’ during the COVID-19 crisis.
Global Market to Carry on its Growth Exponentially After Pandemic
The global assisted reproductive technology market is projected to remain to witness massive growth post-coronavirus pandemic. The increasing R&D and innovations and growing awareness among people regarding assisted reproductive technology are significant factors projected to drive the global market growth after COVID-19 pandemic. Besides, the growing prevalence of childlessness, infertility, and infecundity worldwide is other factor to propel the global market growth by the end of 2027.
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Key Development by Major Market Players
The growing technological advancements and developments by key market players in assisted reproductive technology is anticipated to bolster the growth of global assisted reproductive technology market by the end of 2027. For instance, in April 2019, Nova IVF Fertility has adopted Magnetic Activated Cell Sorting (MACS) techniques and DNA Fragmentation Index (DFI) testing, which are considerably benefiting men with fertility issues in India.
The leading global assisted reproductive technology players consists -
- Merck KGaA
- Cook
- Nidacon International AB
- California Cryobank.
- IVFtech ApS
- FUJIFILM Irvine Scientific.
- CooperSurgical, Inc.
- Thermo Fisher Scientific Inc.
- Hamilton Thorne, Inc.
- Ferring Pharmaceuticals.
The report summarizes and provides various aspects of all the prominent players functioning in the overall market such as financial performance, product portfolio, recent developments, strategic moves, SWOT analysis, and many more. Quick Download Top Companies Development Strategies Summary Report
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