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

As per The Business Research Company’s Surrogacy Global Market Report 2024, the surrogacy market is expected to show significant growth in the forecast period.

Exponential Market Growth

• Current Market Size: The surrogacy market was valued at $13.21 billion in 2023.
• 2024 Projections: Expected to grow to $16.01 billion, with a compound annual growth rate (CAGR) of 21.2%.
• Future Outlook: Predicted to reach $32.03 billion by 2028, sustaining a CAGR of 18.9%.

Key Growth Drivers

Increasing Infertility Rates

• Infertility Prevalence: About 17.5% of adults globally face infertility.
• Alternative Solutions: Surrogacy offers a viable option for those unable to conceive or carry a pregnancy to term.
• Healthcare Accessibility: Emphasizes the need for affordable, high-quality fertility care.

Gestational Surrogacy Dominance

• Preferred Method: Gestational surrogacy is more common due to its effectiveness and acceptance.
• Market Segmentation: Focus on gestational surrogacy as a dominant type.

Regional Market Growth

• North America: Largest market region in 2023.
• Asia-Pacific: Expected to be the fastest-growing region through the forecast period.

View More On The Surrogacy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/surrogacy-global-market-report

Future Growth Factors

Changing Social Perceptions

• Evolving Views: Increasing acceptance of diverse family structures boosts market growth.
• Legal and Ethical Complexities: Navigating these challenges is crucial for sustained growth.

Partnerships and Collaborations

• Strategic Alliances: Key for technological advancements and expanding services.
• Example: Kindbody’s acquisition of Alternative Reproductive Resources to enhance service delivery.

Technological Advancements

• Medical Technology: Improvements in reproductive technologies drive market growth.
• Genetic Testing: Advancements allow for better planning and outcomes in surrogacy.

Major Market Trends

Medical Technology Advancements

• Enhanced Procedures: Innovations in IVF and ICSI improve success rates.
• Patient Experience: New technologies aim to provide seamless and cost-effective solutions.

Cultural Sensitivity and Diversity

• Inclusive Practices: Embracing cultural sensitivity ensures wider acceptance and participation.
• Family Structures: Supporting various family forms promotes inclusivity in surrogacy services.

Technological Integration

• Digital Platforms: Launch of supportive platforms like surrogacy.com to aid surrogates.
• Community Support: Connecting surrogates with necessary resources and communities.

Innovations and Key Players

Surrogacy.com Initiative

• Launch: Introduced by Northstar Fertility in November 2023.
• Purpose: Provides a platform for surrogates to access support and resources.
• Community Engagement: Connects experienced surrogates with those new to the process.

Kindbody’s Strategic Expansion

• Acquisition: Acquired Alternative Reproductive Resources in August 2022.
• Integrated Services: Combines gestational surrogacy with fertility services for comprehensive care.

Market Segmentation

By Type

• Gestational Surrogacy: The most common and preferred method.
• Traditional Surrogacy: Less common, involves different legal and ethical considerations.

By Technology

• IVF with ICSI: High success rate, often used in complex cases.
• IVF without ICSI: Standard procedure for many surrogacy cases.
• Intrauterine Insemination (IUI): Less invasive, used in specific situations.

By Application

• Fertility Clinics: Provide comprehensive fertility and surrogacy services.
• Surrogacy Agencies: Facilitate the surrogacy process and match surrogates with intended parents.
• Surrogacy Lawyers: Ensure legal compliance and handle contractual agreements.

Conclusion

The surrogacy market is experiencing significant growth due to increasing infertility rates, advancements in reproductive technology, and changing social perceptions. Key players are innovating to provide better support and resources for surrogates and intended parents. The market is poised for continued expansion, driven by technological advancements and strategic collaborations.

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