Fertility services offer diverse applications, addressing infertility through assisted reproductive technologies, genetic testing, and reproductive endocrinology. These services provide options such as egg and sperm donation, gestational surrogacy, and fertility preservation for individuals facing various reproductive challenges. The advantages lie in offering effective solutions to build families, including comprehensive reproductive health care and emotional support throughout the fertility journey. From in vitro fertilization to genetic testing, fertility services play a pivotal role in helping individuals and couples achieve their family-building goals.
According to Data Bridge Market Research analyses that the Global Fertility Services Market which was USD 17.45 billion in 2021, is expected to reach USD 31.59 billion by 2029, and is expected to undergo a CAGR of 7.70% during the forecast period 2022 to 2029.
"Rise in Delayed Pregnancies Boosts the Market Growth"
The fertility services market is driven by the increasing trend of delayed pregnancies in women, influenced by changing societal norms. This demographic shift is characterized by couples choosing parenthood at later stages due to factors such as education and career pursuits. The period from 2022 to 2029 is expected to witness significant market growth, propelled by ongoing advancements in healthcare technologies, modernization efforts, and increased research and development activities. Assisted reproductive technologies, including in vitro fertilization and egg freezing, play a crucial role in meeting the rising demand for fertility services by addressing reproductive challenges.
What restraints the growth of global fertility services market?
“Side-effects Associated with the Market Growth”
The increased treatment costs of Assisted Reproductive Technologies (ARTs) in developed countries act as a constraint within the fertility services market. This is primarily due to factors such as the need for advanced medical technologies and specialized infrastructure, the high cost of attracting and retaining skilled personnel, stringent regulatory standards, ongoing research and development expenses, limited insurance coverage, liability concerns, and economic factors. Additionally, the high demand for fertility services in developed countries, influenced by societal trends and delayed childbearing, contributes to a competitive market environment, allowing clinics to set relatively higher prices for ART procedures.
Segmentation: Global Fertility Services Market
The global fertility services market is segmented on the basis of infertility, procedure, services, and end-user.
- On the basis of infertility, the global fertility services market is segmented into male infertility, and female infertility
- On the basis of procedure, the global fertility services market is segmented into assisted reproductive technology (art), in-vitro fertilization, artificial insemination, surrogacy, and others
- On the basis of services, the global fertility services market is segmented into donor, and non-donor
- On the basis of end-user, the global fertility services market is segmented into fertility clinics, hospitals, clinical research institutes, and surgical centers
Regional Insights: North America Dominates the Global Fertility Services Market
North America dominates the fertility services market due to lower fertility rates, a growing trend of delayed motherhood, and increasing cases of obesity. Lower fertility rates drive demand for fertility treatments, while delayed motherhood increases the need for reproductive assistance. The rising prevalence of obesity adds to fertility challenges, contributing to a significant market for fertility services in the region.
Asia-Pacific fertility services market is poised for significant growth from 2022 to 2029, primarily driven by a decline in fertility rates in the region. Societal changes, including delayed marriages and increased educational and career opportunities for women, contribute to challenges in natural conception. This trend boosts the demand for fertility services, particularly assisted reproductive technologies (ARTs), as individuals and couples seek solutions for fertility issues.
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Recent Developments in Global Fertility Services Market
- In July 2019, Monash IVF Group, an Australia-based leader in reproductive treatments, successfully acquired Fertility Solutions, a prominent provider based in Queensland, for a total of $1.43 million (AUD 2.1 million). This strategic acquisition encompassed the transfer of selected assets, liabilities, and contracts from Fertility Solutions. Notably, the transaction included the integration of two Fertility Solutions facilities situated in Bundaberg and the Sunshine Coast. This move was a significant step for Monash IVF Group, poised to enhance its regional presence and strengthen its position in the reproductive healthcare sector
The Prominent Key Players Operating in the Global Fertility Services Market Include:
- Olympus Corporation (Japan)
- The Cooper Companies Inc. (U.S.)
- Instituto Bernabeu (Spain)
- Virtus Health (Australia)
- CooperSurgical, Inc. (U.S.)
- Vitrolife (Sweden)
- CARE Fertility (U.K.)
- INVO Bioscience (U.S.)
- Monash IVF (Australia)
- Fertility Focus Limited (U.S.)
- Carolinas Fertility Institute (U.S.)
- Apollo Hospitals Enterprise Ltd. (India)
- Merck KGaA (Germany)
- LABOTECT GMBH (Germany)
- Medicover (Sweden)
Above are the key players covered in the report, to know about more and exhaustive list of global fertility services market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Fertility Services 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.
