(I-BusinessNews.Com, August 10, 2021 ) Assisted Reproductive Technology Market size is estimated to reach $46.2 billion by 2026, growing at a CAGR of 9.6% during the forecast period 2021-2026. Assisted reproductive technology covers medical procedures that are helpful to address infertility. It covers various methods, such as cryopreservation, in-vitro fertilization, and many others. These procedures depending on situation also use donor eggs, sperm, and previously frozen embryos and also involve a surrogate and gestational carrier. This procedure involves the manipulation of sperm and embryos for producing a pregnancy. The rise in the adoption of ovulation induction, artificial insemination, and hysterosalpingography in developed nations, increase in the median age of first-time motherhood, and growing favorable policies for infertility treatment are the factors that are set to drive the growth of the Assisted Reproductive Technology Market for the period 2021-2026.
Assisted Reproductive Technology Market Segment Analysis – By Procedure
The Assisted Reproductive Technology Market based on the Procedure can be further segmented into Fresh Nondonor, Frozen Nondonor, Fresh Donor, and Frozen Donor. The Fresh Nondonor segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 10.4% over the period 2021-2026. This growth is owing to the factors such as rise in the success rate of the procedure in the first attempt and increase in the demand for assisted reproductive technologies, such as cryopreservation and artificial insemination.
The growing number of fresh nondonors banking the eggs or embryos is driving the growth of the Assisted Reproductive Technology Market. The Frozen Non-donor segment held the second largest share in 2020 owing to its cost-effectiveness and also the drug stimulation process is not required for the recipient and is less invasive. Many favorable policies in developed nations also encouraged people to donate their sperm, which is driving the growth of the Assisted Reproductive Technology Market.
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Assisted Reproductive Technology Market Segment Analysis – By End User
The Assisted Reproductive Technology Market based on the End User can be further segmented into Hospitals, Fertility Clinics, Clinical Research Institutes, and Others. The Fertility Clinics segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 10.6% over the period 2021-2026. This growth is owing to the factors such as growing demand for ART treatments and rise in the number of fertility clinics in developed nations.
The rise in the adoption of cryopreservation and hysterosalpingography is driving the growth of the Assisted Reproductive Technology Market. The Hospitals segment held the second largest share in 2020 owing to the factors such as low treatment costs and growing adoption of hospital-based environment for the treatment of In-vitro fertilization (IVF) and intrauterine insemination (IUI).
Assisted Reproductive Technology Market Segment Analysis – By Geography
North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as rise in the number of fertility centers and growing favorable policies for infertility treatment. The rise in the adoption of ovulation induction and artificial insemination infertility clinics is driving the growth of the Assisted Reproductive Technology Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as growing demand for the adoption of cryopreservation and hysterosalpingography and rise in the government support for fertility treatment.
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Assisted Reproductive Technology Market Drivers
Rise in the Adoption of Ovulation Induction and Artificial Insemination in Developed Nations
Various technologies such as ovulation induction, artificial insemination, and cryopreservation are increasingly being used among developed nations owing to the growing awareness about the presence of various medical procedures to address infertility. The key players are also focusing on developing advanced methods to meet the demand for addressing infertility, which is further propelling the growth of the Assisted Reproductive Technology Market.
Increase in the Median Age of First-Time Motherhood
There is an increase in the median age of first-time motherhood owing to the factors such as improved contraceptive techniques and the increasing number of women prioritizing careers over starting a family. Moreover, the rate of first-time pregnancies in women under the age of 20 in developed nations has decreased rapidly, which is one of the major factors driving the growth of the Assisted Reproductive Technology Market.
Assisted Reproductive Technology Market Challenges
High Cost of Assisted Reproductive Technology
The government of several nations and other organizations are increasing their initiatives to enhance awareness among people about the presence of various technologies to address infertility. However, the high cost of assisted reproductive technologies to treat infertility is one of the major factors that is estimated to reduce the growth of the Assisted Reproductive Technology Market.
Assisted Reproductive Technology Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Assisted Reproductive Technology Market. Key companies of this market are Cosmos Biomedical, FUJIFILM Irvine Scientific, Microm UK Ltd, Origio, Parallabs, Cryolab Ltd, Ferring Pharmaceuticals, Ovascience, Merck Group, and Vitrolife AB among others.
Acquisitions/Product Launches:
In September 2019, FUJIFILM Irvine Scientific Inc, a world leader in the development and manufacture of Assisted Reproductive Technologies (ART) has launched Kit-NX to vitrify embryos in a consistent and stable environment to achieve high pregnancy rates.
In February 2019, Merck has launched fertility technologies, such as Geri, Gavi, and Gems to be made to IVF clinics and hospitals. These technologies help in reducing external stresses on the embryos of patients undergoing fertility treatment.
In January 2019, Ferring Pharmaceuticals has acquired the generic version of Ganirelix Acetate Injection from Sun Pharmaceutical Industries Ltd to expertise in the field of assisted reproductive technologies (ART) and to expand their service offerings to include various procedures.
Key Takeaways
Geographically, North America Assisted Reproductive Technology Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing adoption of ovulation induction and artificial insemination infertility clinics.
The rise in the demand for cryopreservation and hysterosalpingography procedures is driving the Fertility Clinics segment. However, the high cost of assisted reproductive technology procedures is one of the major factors that is said to reduce the growth of the Assisted Reproductive Technology Market.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Assisted Reproductive Technology Market report.
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