New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global In-Vitro Fertilization Banking Services Market’ for the forecast period, i.e. 2023 – 2033 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 In-Vitro Fertilization Banking Services Market Size:
The global in-vitro fertilization banking services market garnered a revenue of nearly USD 3,590 million in 2022 and it is expected to garner a revenue of around USD 10,242.7 million by the end of 2033. In-Vitro Fertilization Banking Services Market to Exhibit a Decent CAGR of ~10% by 2033. The growth of the market is boosted by surging cases of infertility in both males and females. Lifestyle imbalance in adults including, unhealthy eating habits, sleeping disorder, work pressure, alcohol and drug consumption and smoking habits is the primary cause of infertility. According to the National Library of Medicine, 15% of couples worldwide struggle with infertility. Around 20–30% of cases of infertility are found in males, who also contribute for 50% in overall infertility cases. Moreover, according to the World Health Organization, around 48 million couple and approximately 186 million individuals have developed infertility worldwide. Besides this, rise in median age of first time pregnancy owing to emerging career ambition and empowerment in women is to boost the market growth. According to the OECD Family Database, the mean age of the first childbearing has reached 30 or above in the majority of OECD regions. The average age of women giving birth is 32 in few nations, including Ireland, Italy, Japan, Spain, and others.
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Global In-Vitro Fertilization Banking Services Market: Key Takeaways
- Europe region gains the largest portion of the revenue
- Frozen donor egg cycle segment to dominate the revenue graph
- Sperm banking sub-segment remains prominent in the service type segment
Rising Adoption of IVF Treatments and Growing Cases of Reproductive Cancer
Reproductive cancer has become prevalent among population. Active sexual life, side effects of contraceptives, rising sexually transmitted disease are the few factors which are common causes of reproductive cancer. In 2020, more than 400,000 women were diagnosed with uterine cancer all over the world. In the United States alone, nearly 66,000 people are suffering from uterine or endometrial cancer. With the rising cases of infertility and rising problem of reproductive area is boosting the adaptation of IVF treatments. Every year, more than 2 million IVF cycles are performed all across the world and it is responsible for over half of million births in the world. In addition, at Human Fertilization & Embryology Authority-licensed fertility clinics in the United Kingdom, about 53,000 people underwent 69,000 fresh and frozen IVF cycles and 5,700 DI cycles in 2019.
Global In-Vitro Fertilization Banking Services Market: Regional Overview
The global in-vitro fertilization banking services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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Increased Usage of IVF, Rise in Same Sex Marriage and Growing Age of Women is to Augment the Market Growth in Europe
The in-vitro fertilization banking services market growth in Europe is attributed to higher number of IVF cycles carried out in the region. Over 70% of fertility cycles performed worldwide, excluding Asia, take place in the EU. That is more than 500,000 cycles annually. The market growth in Europe is expected to be propelled by increase in the mean age of procreation followed by rising instances of same sex marriage and partnerships in the region. Europe has the highest rate of same-sex marriage. The majority of the 30 nations in the globe that permit same-sex unions are found in Western Europe. Furthermore, according to Eurostat data for 2019, the mother's age at the first delivery was above 31 in three EU members: Italy, Spain, and Luxembourg.
Rising Cases of Reproductive Cancer and Infertility is to Boost the Market Growth in North America
The market growth in North America is propelled by growing prevalence of reproductive cancer in both males & females. As of 2022, nearly 20,000 women are diagnosed with ovarian cancer and around 13,000 women die of the disease. In addition, as of 2022, nearly 270,000 new cases of prostate cancer and about 35,000 deaths has been reported in the United States. Moreover, in coming years, every 1 in 8 man is likely to develop prostate cancer during his lifetime. North America’s market growth is also driven by higher instances of fertility. Approximately 10%-15% of couples in the United States are infertile. In addition, more than 10% of women of the age 15-44 years old have developed infertility.
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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 In-Vitro Fertilization Banking Services Market, Segmentation by Service Type
- Egg Banking
- Sperm Banking
By service type, the sperm banking segment is to generate highest revenue by the end of 2033. The growth of the segment is expected on the account of rise in lesbian individual and couple. As they cannot produce their own baby, their fittest option to go for IVF using donated sperm. In the United States, around 3% of women identify as lesbian or bisexual. Additionally, as of 2021, there were around 750 lesbian couple in London.
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Global In-Vitro Fertilization Banking Services Market, Segmentation by Donor Egg Cycle
- Fresh Donor Egg Cycle
- Frozen Donor Egg Cycle
By donor egg cycle, the frozen donor egg cycle segment is to garner the highest revenue at the end of 2033 by growing at a significant CAGR over the forecast period. The segment growth is o the account of more number of women freezing their eggs for future use and surge in people using frozen eggs for pregnancy. Frozen eggs have been used to create almost 5,000 pregnancies and births, and the outcomes are astounding. Furthermore, increasing success rate in pregnancy and child birth by using frozen eggs is to propel the growth of the segment. If women under 35 freezes her 15 mature eggs, there are 80% success rate of giving birth to at least one live birth.
Few of the well-known market leaders in the global in-vitro fertilization banking services market that are profiled by Research Nester Are Care Fertility Group, Carolinas Fertility Institute, Xytex Cryo International, Merck KGaA, Monash IVF Group, The Johns Hopkins Health System Corp, Genea Limited, Medicover Group, Boston IVF's Network and others.
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Recent Developments in the In-Vitro Fertilization Banking Services Market
- July 2019, Monash IVF Group announced the acquisition of Fertility Solutions, a supplier of fertility services in the location of Bundaberg and Buderim of Queensland, at the worth of USD 1.43 million. The addition of two fertility clinics facilitates better service and likely to increase the geographical area covered by Monash IVF Group’s business. Monash currently have no footprints in the region of Sunshine coast and Bundaberg. This acquisition enables Monash IVF to establish a business portfolio across Australia.
- August 2020, Boston IVF’s Fertility, England’s leading fertility center announced the opening of new, state-of-the-art fertility centers in Chestnut, Massachusetts. The new location of the centers is spread over 5,000 square feet of area and is dedicates to on site physician who will offer consultation and intrauterine insemination and treatment monitoring. Along with this, it also provides improved services for both couples and individuals in Boston.
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