Dublin, March 02, 2021 (GLOBE NEWSWIRE) -- The "Assisted Reproductive Technology Market By Procedure, By Technology, Frozen Embryo Replacement, By Type, And By End Use Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
The rising awareness about possible artificial conception methodologies and increasing incidences of advanced maternal age are driving the demand for the market.
The Global Assisted Reproductive Technology (ART) Market is forecast to reach USD 50.71 Billion by 2027, according to our latest report.
Assisted reproductive technology (ART) is an infertility treatment, wherein a laboratory fusion of ovule extracted from the women's ovaries are mixed with the male sperms. There has been a dramatic rise in the number of women who are choosing to conceive after the age of 35.
This progression started in the mid-1970s in the U.S. and has proceeded to grow slowly over time. 15% of the birth-giving people today are aged 35 and above, up from 11% in 2002 and 8% in 1990. With the trend of delayed pregnancies across different parts of the world, the use of ovulation test kits is anticipated to grow significantly.
Globally, approximately 0.3% of all infants born every year are conceived using assisted reproductive technology (ART). Growing awareness of assisted reproductive technology and diminished discomfort around pregnancy-related disorders in the social scenario has contributed a sufficient boost to the assisted reproductive technology market.
Statistics provided by the World Fertility Patterns show that Mexico's birth rate is around 2 kids per mother, well below the levels required to support the current population of Mexico. Brazil's birth rate is also lower, at 1.75, close to that of Colombia's 1.77, while Costa Rica is at 1.66. These declining fertility rates can be threatening for women and parents planning to conceive. Thus, more couples are opting for the artificial pregnancy method.
A major market limiting factor is the stringent rules and regulations. The transfer of multiple embryos in a single cycle increases the rates of multiple births. Due to the increased social costs and health risks associated with multiple births, legislations or guidelines from professional societies have been introduced in many countries. Moreover, a moderate success rate is expected to act as a restraining factor for the global market in the years ahead.
The COVID-19 Impact:
The recent outbreak of COVID-19 has impacted the growth of the market in several countries as elective procedures, like IVF and other ART procedures, are being postponed or canceled. Many studies have stated that women trying to conceive through ART are vulnerable to infection due to lower immunity.
The restricted movements and shutdown of the ART facilities in developed as well as developing nations have resulted in a reduction of couples approaching ART. However, various gynecologists are maintaining the routine or follow-up of surrogate or couples enlisted under ART procedures through a digital platform. However, after this temporary decline in growth, the market is estimated to grow in the latter phase of 2021.
Further key findings from the report suggest
- North America dominated the market with a revenue of USD 9.13 billion in 2019. In the region, the embryo/egg banking segment accounted for 2.17 billion market revenue in 2019 and is anticipated to grow USD 3.70 billion in 2027. This can be due to the changing lifestyle and increased adoption of late pregnancy.
- The In-Vitro Fertilization (IVF) technology segment dominated the market. In 2019, the segment generated USD 21.68 billion in revenue. Access to government-subsidized schemes and the development of less cost-intensive IVF techniques is expected to drive the demand for ART in respective regions.
- Other emerging types of ART, such as Gamete-Intra Fallopian Transfer (GIFT) and Zygote-Intra Fallopian Transfer (ZIFT), are anticipated to increase at a significant CAGR from 2020 to 2027.
- The continuous rise in cases of infertility is expected to create future revenue opportunities for the ART market.
Companies Mentioned
- Merck KGaA (Germany) Co.per Surgical (Denmark)
- Fujifilm Irvine Scientific (US)
- Vitroife AB (Sweden)
- Thermo Fisher Scientific (US)
- Celmatix Inc. (US)
- Anecova (Switzerland)
- OvaScience (US)
- Ferring Pharmaceuticals (US)
- FertiPro N.V. (Belgium)
For more information about this report visit https://www.researchandmarkets.com/r/chnp0p