Westford, USA, Aug. 09, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Assisted Reproductive Technology Market will reach a value of USD 40.67 Billion by 2031, with a CAGR of 5.40% during the forecast period (2024-2031). Assisted reproductive technology market is majorly driven by increasing cases of infertility and the growing need for greater accessibility to quality and affordable fertility care for patients. The cases of fertility are declining on a global scale due to the changed consumer lifestyle. Hence, people are shifting towards assisted reproductive technology services to address the challenges and obtain family planning objectives.
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Tables – 91
Figures – 76
Assisted Reproductive Technology Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 26.67 Billion |
| Estimated Value by 2031 | USD 40.67 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.40% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Number of Regions with Improved Services |
| Key Market Drivers | Growing Cases of Obesity among Women |
Rising Benefits Associated with In Vitro Fertilization (IVF) to Impact Segmental Growth
In Vitro Fertilization (IVF) segment held majority share of the assisted reproductive technology market in 2022 and is expected to lead in future owing to increasing number of advantages related to frozen non-donor segment (part of IVF procedure) as compared to other IVF treatments. Frozen non-donor treatment is mostly used when patient body releases healthy eggs and yet goes through assisted reproductive technology due to infertility of male partner or malformation of fallopian tube. On the other hand, the artificial Insemination (AI-IUI) segment is expected to grow as the fastest-growing segment in the coming years. The factors attributing to the growth comprise technological advancements in the collection of semen, its processing, and storage techniques, making the procedure highly accessible and reliable.
Fertility Clinics to Dominate Owing to Growing Need for Dedicated Facilities for ART Services
By end user, fertility clinics segment led the market with a notable share in 2022 and will continue dominance in the future as well. This growth is backed by the rising cases of infertility and increasing need for dedicated facilities for operating ART procedure. Also, people’s changing attitude towards fertility treatments and family planning is also impacting the segment growth. More couples prefer ART services to achieve their parenting goals faster. Conversely, the hospitals segment is projected to be the fastest growing in the developing regions and low-income economies. This growth can be attributed to inadequate infrastructure for such special fertility clinics and hence, the growing risk of poor outcomes.
Growing Number of Technological Advancements in ART Services to Drive Market in Europe
Geographically, Europe dominated the assisted reproductive technology market in 2022 owing to high prevalence of infertility, growing number of technology advances, increased awareness for different fertility treatments, and favorable government policies. Among other countries, Germany registered for maximum cases of ART services owing to delayed pregnancy and increased awareness for fertility treatment. Asia-Pacific is predicted to be the fastest growing region for the adoption of ART services due to developing healthcare infrastructure in most emerging economies. Moreover, changing socio-economic factors like career priorities, changing consumer lifestyles, hectic schedules, delaying pregnancy, and more are also impacting the demand for ART services in the region.
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Assisted Reproductive Technology Market Insight
Drivers:
- Growing Awareness and Popularity of ART services
- Dramatic Shift Towards Adoption of ART Services
- Advances in Assisted Reproductive Technology
Restraints:
- Strick Regulatory Landscape
- Availability of Alternative Technologies or Products
- Lack of Skilled Workforce
Prominent Players in Assisted Reproductive Technology Market
The following are the Top Assisted Reproductive Technology Companies:
- CooperSurgical Inc.
- Vitrolife AB
- Ferring Pharmaceuticals Inc.
- Cook Medical LLC
- Irvine Scientific Sales Company Inc.
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Genea Limited
- Boston IVF
- OvaScience Inc.
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Key Questions Answered in Global Assisted Reproductive Technology Market Report
- What are the leading reasons for the growth of the Assisted Reproductive Technology Market?
- What is the estimated size of Assisted Reproductive Technology Market by 2031, according to SkyQuest Technology?
- Who are the major market vendors profiled in the Assisted Reproductive Technology Market?
This report provides the following insights:
- Analysis of key drivers (rising cases of ovulation disorders in women, changing lifestyle of women, growing number of healthcare insurance for ART service), restraints (availability of multiple alternative options, expensive ART service, concern about pregnancy results), opportunities (growing number of government initiatives for the use of ART service, rising use of infertility drugs, rise in awareness and education), and challenges (long distances of treatment centers, emergency complications due to ART, rising perinatal complications) influencing the growth of assisted reproductive technology market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the assisted reproductive technology market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the assisted reproductive technology market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
In Vitro Fertilization Market
Fertility Supplements Market
Fertility Testing Devices Market
Infertility Treatment Market
Contraceptive Devices Market
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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