Tag: surrogacy market overview

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What is the Expected Growth Rate of the Surrogacy Market from 2024 to 2033?

The surrogacy market has experienced exponential growth, increasing from $13.21 billion in 2023 to $16.01 billion in 2024, at a CAGR of 21.2%. This growth can be attributed to the rise in infertility cases, the dominance of gestational surrogacy, regional market expansion, age group adoption, and evolving legal and regulatory frameworks.

The surrogacy market is expected to reach $32.03 billion by 2028, growing at a CAGR of 18.9%. The growth is driven by changing social perceptions, reproductive technology advancements, and post-pandemic recovery. Key trends include technological advancements, cultural sensitivity, and genetic testing.

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What Key Factors Are Fueling the Growth of the Surrogacy Market?

The rising infertility rates are expected to drive growth in the surrogacy market. Infertility is characterized by an inability to conceive after 12 months or more of regular, unprotected intercourse, and surrogacy offers an alternative for individuals unable to conceive or carry a pregnancy. The World Health Organization reported that about 17.5% of adults globally face infertility, emphasizing the need for accessible fertility care. Thus, rising infertility rates support the surrogacy market.

What Are the Major Segments of the Surrogacy Market?

1) By Type: Gestational Surrogacy, Traditional Surrogacy

2) By Technology: In Vitro Fertilization (IVF) With Intracytoplasmic Sperm Injection (ICSI), In Vitro Fertilization (IVF) Without Intracytoplasmic Sperm Injection (ICSI), Intrauterine Insemination

3) By Application: Fertility Clinics, Surrogacy Agencies, Surrogacy Lawyers

What New Trends Are Transforming the Surrogacy Market?

In the surrogacy market, companies are introducing innovative platforms like surrogacy.com to support surrogates and their families throughout the surrogacy journey. This platform offers resources, advice, and community support for individuals involved in surrogacy. For example, Northstar Fertility, a US-based egg donor and fertility service provider, launched surrogacy.com in November 2023. Created by surrogates, the platform provides guidance and connects surrogates with the tools and community they need for a successful surrogacy process.

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Which Regions Are Driving Growth in the Surrogacy Market?

North America was the largest region in the surrogacy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surrogacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Surrogacy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the surrogacy market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Surrogacy Market Include

1. Surrogacy Market Executive Summary

2. Surrogacy Market Segments

3. Surrogacy Market Size And Template Market Growth Rate

4. Key Surrogacy Market Trends

5. Major Surrogacy Market Drivers

……

25. Key Mergers And Acquisitions In The Surrogacy Market

26. Top Surrogacy Companies

27. Surrogacy Market Opportunities And Strategies

28. Surrogacy Market, Conclusions And Recommendations

29. Appendix

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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.

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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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