New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Sperm Bank Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Sperm Bank Market Size:
The global sperm bank market is estimated to garner a notable CAGR over the forecast period. A sperm bank, also known as a cryobank, is a specialist business that buys and stores the human sperm that is obtained from sperm donors and delivered to women who want to conceive. The growth of the market can be attributed to increasing infertility among both men and women on account of unhealthy lifestyles. Some of the lifestyle choices that contribute to infertility include a lack of exercise, obesity, smoking, drinking, and drug misuse. According to information from the World Health Organization, infertility affects between 48 million couples and 186 million people worldwide. Moreover, a greater number of couples now have options when it comes to reproductive concerns owing to the expanding range of services offered by sperm banks. Therefore, the market is anticipated to experience a significant increase in the years to come.
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Global Sperm Bank Market: Key Takeaways
- North America region gains the largest portion of the revenue
- Known donor type segment to dominate the revenue graph
- Semen analysis sub-segment remains prominent in the services segment
Growing Adoption of IVF and Rising Acceptance of Same-Sex Couples to Boost Market Growth
In-vitro fertilization (IVF) has gained popularity as a safe method of conception for women. One of the main factors propelling the worldwide sperm bank market is the increase in IVF procedure success rates. It was noticed that more than 7.9 million IVF births and more than 2 million cycles are carried out annually, resulting in more than 500,001 deliveries. Along with this the rising tendency of delayed pregnancies, rising obesity issues, and the increase in disposable income are estimated to drive the market growth.
In addition to this, another factor driving higher sperm donations internationally is the growing acceptance of the gay, bisexual, lesbian, and transgender (LGBT) population. As the matter of fact, these couples rely on medical treatments for conceiving babies and which in turn is anticipated to drive market growth throughout the forecast period. It was noticed that in the USA there are 469,000 households with same-sex unmarried partners living together and 543,000 households with same-sex married couples. Further, the increasing government efforts to provide better reimbursement conditions and implementation of friendly policies for same-sex marriage are predicted to boost the market growth during the forecast period.
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Global Sperm Bank Market: Regional Overview
The global sperm bank market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Adoption of IVF and ART to Drive Growth in the North America Region
Given the growing acceptance of same-sex relationships and single parenthood in North America, the region is anticipated to hold the largest market share over the projection period. Additionally, rising disposable income motivates infertile couples to choose IVF treatments, and assisted reproductive technology (ART) which are predicted to accelerate market expansion. According to information provided by the US Centers for Disease Control and Prevention (CDC), 73,831 babies were born in 2018 using the ART technique.
Growing Cases of Infertility and Obesity to Drive Growth in the Europe Region
On the other hand, by the end of 2029, the market in the Europe region is predicted to account for a significant share of global sales owing to the rising infertility cases brought on by the region's high obesity rate. It was found that with 59% of adults, 29% of boys, and 27% of girls overweight or living with obesity, the prevalence of obesity among adults in the region of Europe is the second highest. Additionally, the region's effective medical facilities and acceptance of ART for childbirth are two additional aspects anticipated to boost market expansion.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Sperm Bank Market, Segmentation by Services
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- Sperm Donation
- Semen Analysis
- Genetic Consultation
- Others
Out of these, the semen analysis segment is anticipated to hold the largest market share over the forecast period owing to the growing awareness of reproductive health among the people. Semen analysis is a common choice for couples who are having trouble conceiving to identify the underlying causes of the problems. Moreover, in order to improve sperm selection for infertility therapy, many new techniques have been developed, such as digital holography, super-resolution microscopy, and next-generation sequencing. These technological advancements allow improved examination of sperm motility, morphology, and genetics and which in turn are estimated to boost segment growth.
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Global Sperm Bank Market, Segmentation by Donor Type
-
- Directed
- Anonymous
- Known
- Others
Among these, the known donor segment is estimated to hold a significant market share over the forecast period on account of increasing cases of male infertility across the globe and family relies on known donors to conceive. It was observed that infertility affects around 8%~10% of all American men who are trying to get conceive. In addition to this, several nations, including the UK, Australia, Sweden, and others, have passed laws supporting children's rights to know their biological parents. The availability of the donor's medical history is further ensured by the identification of known donors. As a result, the adoption of sperm from known donors is anticipated to aid in the segment's expansion.
Global Sperm Bank Market, Segmentation by Application
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- Donor Insemination
- In-Vitro Fertilization
Few of the well-known market leaders in the global sperm bank market that are profiled by Research Nester are Fairfax Cryobank, Inc., New England Cryogenic Center, Inc., Androcryos-Andrology Lab & Sperm Bank, Cryos International Sperm Bank, European Sperm Bank, Phoenix Sperm Bank, Xytex Corporation, The London Sperm Bank, California Cryobank, LLC, CryoGam Colorado, LLC, and others.
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Recent Developments in the Global Sperm Bank Market
- In October 2019, the California Cryobank, which has supported LGBTQ families in having children since 1977, received the family equality organization's 2019 Corporate Impact Award. The Cryobank has also sponsored national and local LGBTQ events and helped pave the way for transgender people to gain access to reproductive health care.
- In March 2018, Fairfax Cryobank has declared that they have been offering long-term storage of reproductive material, including frozen sperm, eggs, and embryos, for more than 30 years.
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