Selbyville, Delaware, Nov. 22, 2022 (GLOBE NEWSWIRE) --
The surrogacy market value is anticipated to surpass USD 129 billion by 2032, according to a new research report by Global Market Insights Inc.
Infertility is emerging as a severe issue with several social, economic, and cultural implications. As a result, public awareness regarding the advantages of surrogacy has increased worldwide. Various private and public organizations are also improving awareness of infertility through initiatives promoting various procedures such as IVF (In-Vitro Fertilization).
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Cost-effectiveness of the procedure to bolster demand for traditional surrogacy
Surrogacy market from the traditional surrogacy type segment is expected to depict a 17% CAGR from 2023 to 2032. The traditional surrogacy method has gained significant traction, especially among single men, same-sex couples, and intended mothers who are unable to produce healthy eggs. Furthermore, the traditional method is more economical than the gestational surrogacy method. The growing prevalence of infertility across developing nations, alongside rapid advancements in technologies is thus encouraging patients to opt for traditional surrogacy methods.
Browse key industry insights spread across 163 pages with 233 market data tables & 18 figures & charts from the report, “Surrogacy Market Statistics By Type (Gestational Surrogacy, Traditional Surrogacy), Technology (Intrauterine Insemination (IUI), In-vitro Fertilization (IVF) {Classical/Standard IVF, Intracytoplasmic Sperm Injection [ICSI]}), Age Group (Below 35 Years, 35-37 Years, 38 - 39 Years, 40-42 Years, 43-44 Years, Over 44 Years), Service Provider (Hospitals, Fertility Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/surrogacy-market
Implementation of patient awareness campaigns to increase demand for IVF technology
The In-vitro fertilization (IVF) segment accounted for over 63% share of the surrogacy market in 2022. IVF has a higher success rate than other methods such as intrauterine insemination (IUI), as it can help treat a vast array of infertility issues. The method is gaining favor among women younger than the age of 35 years, who have a 50/50 chance of conceiving with their first IVF egg retrieval. Furthermore, government organizations are implementing programs to create awareness about IVF and its advantages. Governments are also providing subsidies for surrogacy procedures, which may further promote the adoption of IVF as a preferred technology for infertility treatment.
Increased pregnancy-related risks in women aged 35 to 37 years drive surrogacy adoption
Surrogacy market from the 35-37 years age group is projected to exhibit over 24.5% CAGR between 2023 to 2032. This is attributed to a reduced rate of pregnancy success and infertility issues, which are prevalent in women between 35 to 37 years of age. These risks arise due to several factors, including delayed marriage or birth control measures, further encouraging patients in this age group to opt for surrogacy procedures. The medium success rate of the procedure in surrogate mothers in their late 30s will also contribute to industry progress.
Expansion of fertility clinic network to support market development
The fertility clinics service provider segment held more than 62.5% share of the surrogacy market in 2022. This is owing to the rising number of fertility issues which has fostered the establishment of fertility clinics worldwide. Rising number of fertility clinics, along with increasing disposable incomes and greater awareness of infertility treatments will thus increase patient inclination for surrogacy procedures.
Preference for gestational surrogacy to influence APAC market trends
Asia Pacific surrogacy market is expected to be valued at more than USD 24 billion by 2032. Increasing preference for gestational surrogacy among surrogacy professionals, in addition to the cost-effectiveness of the procedure, has led to a surge in demand across the region. Furthermore, a growing number of infertility patients due to high levels of pollution, poor embryo quality, and mental health issues has shifted the focus toward surrogacy. With a rapidly expanding population base and a substantial rise in reproduction issues, gestational surrogacy is likely to become a preferred treatment option for infertility patients in the region.
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Business expansion strategies gain traction among key surrogacy industry players
Some of the major companies operating in the surrogacy industry include IVIRMA, Boston IVF, Ovation Fertility, Extraordinary Conceptions, Circle Surrogacy, Growing Generations, New Hope Fertility Clinic, Bourn Hall International (TVM Capital Healthcare), NOVA IVF, MLSPL (Morpheus IVF Clinic), Max Healthcare, Scanfert Clinic, Bangkok IVF Center, and Houston Fertility Center.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
