The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Phenomenal Market Growth

The assisted reproductive technology market has witnessed a remarkable surge, catapulting from $38.04 billion in 2023 to a projected $45.42 billion in 2024, boasting a compelling Compound Annual Growth Rate (CAGR) of 19.4%. This impressive growth in recent years is attributed to various factors such as an increase in infertility rates, evolving societal norms, heightened awareness, legislative support, and an aging population.

Future Outlook: Rapid Expansion Ahead

The trajectory of growth is set to continue, with the assisted reproductive technology market expected to reach an astounding $91.8 billion by 2028, with a CAGR of 19.2%. Factors fueling this growth include the rising maternal age, escalating demand for same-sex parenting, a surge in medical tourism, the expansion of healthcare infrastructure, and continued research and development initiatives. Notable trends in the forecast period encompass the integration of artificial intelligence (AI), the prevalence of egg freezing, the adoption of single-embryo transfer (SET), preimplantation genetic testing for aneuploidy (PGT-a), and innovative fertility preservation techniques.

Rising Infertility Cases: A Driving Force

Infertility and ART

• The escalating number of infertility cases is a significant catalyst for the assisted reproductive technology market.
• Infertility, affecting both men and women, is diagnosed through the inability to conceive.
• ART, encompassing fertility therapies, plays a pivotal role in addressing infertility concerns.

Major Players in the Market

Key Companies

• Cooper Surgical Inc., Ferring Pharmaceuticals Ltd., Hamilton Thorne Ltd., Merck KGaA, Genea Limited, and more contribute significantly to the market’s growth.
• These companies play crucial roles in advancing assisted reproductive technology through innovative solutions.

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PGT-A Alternatives: Advancements in Genetic Testing

Thermo Fisher Scientific Inc.’s Innovation

• In July 2023, Thermo Fisher Scientific Inc. introduced new next-generation sequencing-based options for preimplantation genetic testing-aneuploidy (PGT-A).
• The Ion ReproSeq PGT-A Kit and the Ion AmpliSeq Polyploidy Kit aim to provide valuable genetic insights, increasing the success rate of future pregnancies.
• The Genexus Integrated Sequencer simplifies the research process, offering a comprehensive workflow for aneuploidy analysis.

Strategic Acquisitions Shaping the Landscape

Virtus Health’s Expansion

• In August 2021, Virtus Health Limited acquired Adora Fertility and three-day hospitals from Healius Limited for $45.0 million.
• This strategic move strengthens Virtus Health’s in-vitro fertilization (IVF) portfolio, reinforcing its position in the assisted reproductive technology market.

Market Segmentation and Regional Dominance

Market Segmentation

• Diagnosis: Ovulation Testing, Hysterosalpingography, Ovarian Reserve Testing, Genetic Testing
• Procedure Type: Fresh Non-Donor, Fresh Donor, Frozen Donor, Frozen Non-Donor, Embryo Or Egg Banking
• End-User: Hospitals, Fertility Clinics, Other End-Users

Regional Dynamics

• Europe emerged as the largest region in the assisted reproductive technology market in 2023.

Conclusion: A Landscape of Innovation and Progress

As the assisted reproductive technology market continues its unprecedented growth, it stands at the intersection of technological innovation and addressing societal needs. The surge in infertility cases necessitates advancements in fertility treatments, and major players are actively contributing to this landscape. With innovative genetic testing options, strategic acquisitions, and a robust market segmentation, the assisted reproductive technology market is not just expanding; it’s evolving to meet the diverse needs of individuals and couples seeking fertility solutions. The journey ahead promises groundbreaking developments, ensuring a future where assisted reproductive technology plays a pivotal role in shaping family-building possibilities.

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