New York, USA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global assisted reproductive technology market is anticipated to register $56.3 billion by 2027 and grow at a CAGR of 10.7% during the forecast period 2020-2027. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the assisted reproductive technology market, its growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures for the pandemic and post-pandemic period, which makes it easier and more beneficial for new participants to understand the impact of the Covid-19 pandemic on the market as well as its real-time scenario.
Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the assisted reproductive technology market is expected to grow at a CAGR of 10.7% during the forecast timeframe, while it was predicted to grow at a CAGR of 10.3% in the pre-pandemic scenario from 2020-2027. Increasing number of infertility cases due to the growing incidence of stress, obesity, pollution, and changing lifestyles is predicted to be the primary growth driver of the market in the forecast period. Moreover, the rising adoption of technological advancements in assisted reproductive technology is predicted to boost the assisted reproductive technology market in the analysis timeframe.
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Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has significantly increased compared to the pre-pandemic projections. The real-time market size reached a revenue of $27.6 billion in 2020, while its estimations were $27.0 billion in the pre-pandemic scenario. A general global rise in the prevalence of childlessness, infecundity, and infertility is expected to drive the market forward in the analysis period. Also, growing awareness among the general populace regarding assisted reproductive technology due to various initiatives by renowned organizations is expected to help the market grow further. However, the shutdown of industrial processes like production, logistics, and transportation due to the Covid-19 pandemic is estimated to create hurdles in the full-fledged growth of the market in the analysis timeframe.
Post Pandemic Insights
The growing usage of R&D and innovations, along with increased awareness about assisted reproductive technology is expected to offer numerous growth opportunities to the assisted reproductive technology market in the forecast timeframe. Additionally, changing lifestyle & habitats and a growing number of patients suffering from infertility and childlessness disorders are estimated to be the two main leading growth factors of the market in the analysis timeframe.
Prominent Market Players
Some prominent assisted reproductive technology market players include
- Merck KGaA
- IVFtech ApS
- Thermo Fisher Scientific Inc.
- Cook
- FUJIFILM Irvine Scientific.
- Hamilton Thorne, Inc.
- Nidacon International AB
- CooperSurgical, Inc.
- Ferring Pharmaceuticals
- California Cryobank
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in January 2021, Cooper Surgical, a leading women’s healthcare solutions provider, announced the acquisition of Embryo Options, a cryo-storage software solutions provider. This acquisition is expected to augment the innovative fertility offerings portfolio of the acquiring company, i.e., Cooper Surgical, which will ultimately help in expanding its market share substantially.
The report also sums up many crucial aspects including the financial performance of the key players in the assisted reproductive technology market, SWOT analysis, product portfolio, and latest strategic developments.
More about Assisted Reproductive Technology Market:
Assisted Reproductive Technology: A Boon for Couples Facing Fertility Issues
