Newark, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The sperm bank market is growing rapidly, with a The global sperm bank market was valued at USD 5.54 billion in 2023, and it is projected to grow at a CAGR of 4.45% from 2024 to 2033. By 2033, the market is expected to reach USD 8.57 billion This growth is supported by advancements in reproductive technologies, increasing awareness about male fertility issues, and the availability of more personalized donor options.
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Recent Developments:
Recent developments in the market include the increasing adoption of advanced laboratory techniques for sperm analysis and cryopreservation, along with the growing integration of genetic testing services. Companies are also expanding their service offerings, such as providing more detailed genetic consultation and enhancing donor screening processes to meet the rising demand for ART services globally.
The services type segment is divided into semen analysis, sperm storage, specimen storage, genetic consultation, donor screening, and others. The semen analysis segment dominated the market, with a market share of around 23.21% in 2023. This growth is attributed to the increasing company activities. The donor type segment is divided into anonymous donor, known donor, and ID disclosure donors. In 2023, the known donor segment dominated the market with the largest market share of 39.14% and market revenue of USD 2.17 billion in 2023. This growth is attributed to the changes in regulatory policies. The vials type segment is divided into intracervical insemination (ICI), intrauterine insemination (IUI), and in-vitro fertilization (IVF). In 2023, the in-vitro fertilization (IVF) segment dominated the market, accounting for around 38.26% of global revenue in 2023. This growth is attributed to the growing foreign investment penetrating economically developing countries. The end-user segment is divided into in vitro fertilization centers and donor insemination centers. In 2023, the in vitro fertilization centers segment dominated the market, accounting for around 54.36% of global revenue. This growth is attributed to the growing demand for in-vitro fertilization procedures.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 4.45% |
| 2023 Value Projection | USD 5.54 Billion |
| Market Size in 2033 | USD 8.57 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 225 |
| Segments Covered | The market based on services type, donor type, vials type, end-user, and regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East Africa. Furthermore, the regions are further analyzed at the country level. |
Market Dynamics:
Drivers:
Key drivers of the market include the growing prevalence of infertility issues worldwide, advancements in ART, and increasing social acceptance of sperm donation, particularly among single women and same-sex couples. The rise in healthcare expenditure and the availability of advanced medical facilities in regions like North America and Europe further propel market growth.
Restraints:
Despite the growth, the market faces challenges such as ethical concerns surrounding sperm donation, regulatory hurdles in different regions, and the high cost of ART procedures, which can limit accessibility for some patients.
Opportunities:
Opportunities in the market lie in expanding services to emerging markets, particularly in the Asia-Pacific region, where demand for fertility treatments is rising. Additionally, innovations in genetic testing and the development of low-cost ART solutions could provide significant growth potential.
Key Players:
• Cryos International
• Androcryos
• European Sperm Bank
• FairFax Cryobank
• ReproTech
• New England Cryogenic Center
• London Sperm Bank
• California Cryobank
• Indian Spermtech
• Xytex
• Seattle Sperm Bank
Regional Segmentation Analysis:
• North America holds the largest market share, driven by high infertility rates, advanced medical infrastructure, and a favorable regulatory environment.
• Europe is another significant market, supported by liberal legal frameworks, high demand for ART treatments, and the presence of key market players.
• Asia-Pacific is expected to show the fastest growth, with increasing awareness of infertility issues and the availability of low-cost treatments driving the market.
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Further, advancements in cryopreservation techniques and the increasing fertility tourism are helping to stimulate the growth of the sperm bank market. In addition, the swift rise in female & male infertility and the expansion of the sperm bank also boost the market growth.
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