Assisted Reproductive Technology (ART) encompasses various procedures such as intracytoplasmic sperm injection (ICSI), in vitro fertilization (IVF), cryopreservation of embryos or gametes, fertility medication usage, and others. It refers to the medical techniques employed to address infertility, defined by the World Health Organization as the inability to conceive after a year of unprotected intercourse. Both men and women can be affected by infertility. ART primarily focuses on treating infertility and reproductive endocrinology, and it also influences surrogacy arrangements.
According to Data Bridge Market Research the Assisted Reproductive Technology Market accounted for USD 26.28 billion in 2022, and expected to reach USD 50.10 billion by 2030. The market is expected to grow with a CAGR of 8.4% in the forecast period of 2023 to 2030.
“Increased awareness of same-sex marriages”
The forecast period is witnessing notable growth in the assisted reproductive technology (ART) market, driven by factors such as an increase in single-parent households and heightened awareness of same-sex marriages. According to the Human Rights Campaign (HRC) Foundation's 2022 update, the number of countries legalizing same-sex marriage reached 32, with ongoing parliamentary or court actions expected to raise this number further. Consequently, the growing prevalence of same-sex marriages is anticipated to drive substantial demand for ART techniques, fostering market growth.
What restraints the growth of assisted reproductive technology market?
“High cost of medical procedure”
The growth of the assisted reproductive technologies (ART) market in the forecast period may face limitations due to the increasing costs associated with medical procedures. As ART treatments involve various complex and specialized techniques, the expenses involved, such as fertility drugs, laboratory procedures, and clinical consultations, can be substantial. These rising costs can potentially pose a financial burden on individuals and couples seeking ART services, impacting the market growth.
Segmentation: Global Assisted Reproductive Technology Market
The assisted reproductive technology market is segmented on the basis of procedure, technology, product type and end-use.
- On the basis of procedure, the assisted reproductive technology market is segmented into fresh donor, fresh nondonor, frozen donor, frozen nondonor, embryo/egg banking.
- On the basis of technology, the assisted reproductive technology market is segmented into in-vitro fertilization (IVF), artificial insemination - intrauterine insemination (AI-IUI), frozen embryo replacement (FER), surrogacy, ovulation induction, others.
- On the basis of product type, the assisted reproductive technology market is segmented into women younger than age 35, women older than age 35.
- On the basis of end use, the assisted reproductive technology market is segmented into hospitals, fertility clinics, others.
Regional Insights: North America Dominates the Assisted Reproductive Technology Market
North America dominates the global assisted reproductive technology market due to the growth of the assisted reproductive technologies (ART) market is fueled by rising infertility rates and increased awareness of fertility treatment options. These factors contribute to a higher demand for ART services, driving market expansion.
Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to the adoption of late family planning practices and the availability of lower-cost fertility treatments are contributing to the growth of the assisted reproductive technologies (ART) market.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-assisted-reproductive-technology-art-market
Recent Developments in Assisted Reproductive Technology Market
- In 2022, Inception Fertility expanded its ecosystem by launching HavenCryo, a long-term reproductive tissue and cryopreservation storage solution that provides fertility providers and patients with a one-of-a-kind experience. It includes technology for assisted reproduction.
- In 2022, Birla Fertility, CK Birla Healthcare's flagship fertility clinic, will open with Assisted Reproductive Technology in New Delhi.
- In 2021, Virtus Health Limited, an Australian company that provides assisted reproductive technology, paid $45.0 million to Healius Limited for Adora Fertility and three-day hospitals. This acquisition will help Virtus Health strengthen its portfolio for in-vitro fertilization (IVF). Adora Fertility is an Australia-based company that provides assisted reproductive technology (ART) including IVF (In-vitro fertilization) and ICSI (Intracytoplasmic Sperm Injection).
The Prominent Key Players Operating in the Assisted Reproductive Technology Market Include:
- California Cryobank (U.S.)
- Bloom Fertility Centre (India)
- Anecova (Switzerland)
- CooperSurgical (U.S.)
- Merck KGaA (Germany)
- Ferring B.V. (Switzerland)
- FUJIFILM Irvine Scientific (U.S.)
- Genea Limited (Australia)
- Nidacon International AB (Sweden)
- Celmatix Inc. (U.S.)
- Esco Micro Pte Ltd. (Singapore)
- INVO Bioscience (U.S.)
- Laboratoire CCD (France)
- Nikon Instruments Inc. (U.S.)
- ICU Medical, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of assisted reproductive technology market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Assisted Reproductive Technology Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
