Fertility Services Market Forecast 2023-2027 By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s fertility services market report forecasts the fertility services market size to grow to $90.14 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.
Learn More On The Fertility Services Market Report 2023 – https://www.thebusinessresearchcompany.com/report/fertility-services-global-market-report
Fertility Services Market Size Forecast
The global fertility services market is expected to grow from $47.17 billion in 2022 to $54.12 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fertility services market size is expected to grow to $90.14 billion in 2027 at a CAGR of 13.6%.
Western Europe held the largest fertility services market share.
Key Fertility Services Market Driver – Growth In The Infertility Rates
For example, in 2020, according to NPR, a US-based non-profit media organization, there were 4% fewer babies born in the United States in 2020 than in 2019. The preliminary figures showed that the overall fertility rate hit yet another record low, at 55.8 births per 1,000 women aged 15 to 44. Thus, growing infertility rates will drive the demand for fertility services.
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Key Fertility Services Market Trend – Growing Number Of Research Collaborations
Companies in the fertility services market have witnessed significant growth in the number of research collaborations as well as research funding approvals. Key companies operating in the market are projected to increase their R&D expenditure to introduce new advanced techniques and drugs used for fertility treatments. For instance, in October 2022, Maven Clinic, a US-based company specializing in telemedicine-based virtual clinic for women’s and family health, collaborated with Indira IVF. The collaboration aimed at providing access to Maven members in India to Indira IVF’s high-quality clinical care, other perks, and the best virtual family-building care available through the Maven platform. Indira IVF is an India-based infertility speciality clinic chain. Furthermore, in February 2021, CooperSurgical, a US-based company specializing in women’s health care solutions, collaborated with Virtus Health. The collaboration aimed at emphasizing on digitalization, cryogenics, and reproductive genetics, the cooperation will lead initiatives to assist patients’ fertility journeys, including those who require egg, sperm, or embryo donations. Virtus Health is an Australia-based company specializing in fertility services.
Fertility Services Market Segments
1) By Procedure: Assisted Reproductive Technology (ART), In-Vitro Fertilization, Artificial Insemination
2) By Service: Fresh Non-Donor, Frozen Non-Donor, Egg and Embryo Banking, Fresh Donor, Frozen Donor
3) By Application: Male, Female
Fertility Services Market Major Players and Strategies
Major players in the fertility services market are Merck KGaA, Care Fertility, INVO Bioscience, Vitrolife, Monash IVF Group, Carolinas Fertility Institute, IntegraMed, Inc., New Hope Fertility Centre and Apollo Hospitals Enterprise Ltd.
In December 2021, CooperCompanies, a US-based company specializing in women’s healthcare solutions, acquired Generate Life Sciences for $1.6 billion. Through this acquisition, CooperSurgical offers an even stronger selection of fertility centres and OB/GYNs. Generate Life Sciences is a US-based provider of donor eggs and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage.
The Fertility Services Global Market Report 2023 covers regional data on fertility services market size, fertility services market trends and drivers, opportunities, strategies, and fertility services market competitor analysis. The countries covered in the fertility services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Fertility treatment is a medical procedure intended to increase the chances of conceiving a child. These services are used to increase the chances of bearing a child.
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