Global Assisted Reproductive Technology Market Size To Grow USD 42.5 Billion By 2030 | CAGR 6.35%
Category: HealthcareGlobal Assisted Reproductive Technology Market worth $42.5 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Assisted Reproductive Technology Market Size to grow from USD 28.2 billion in 2021 to USD 42.5 billion By 2030, at a Compound Annual Growth Rate (CAGR) of 6.35% during the forecast period.
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Browse key industry insights spread across 199 pages with 115 market data tables and figures & charts from the report “Global Assisted Reproductive Technology Market Size, Share, and COVID-19 Impact Analysis, By Type (IVF, Artificial Insemination), By End-use (Fertility Clinics & Other Facilities, Hospitals & Other Settings), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/assisted-reproductive-technology-market
The use of fertility medications, intracytoplasmic sperm injection (ICSI), in vitro fertilisation (IVF), cryopreservation of embryos or gametes, and other ART therapies are examples. Medical methods used to treat infertility are referred to as assisted reproductive technology (ART) (ART). The World Health Organization defines infertility as the inability to conceive after more than a year without using contraception. Infertility can affect both men and women. When procedures are employed to treat infertility, the phrase "fertility treatment" is used. Infertility and reproductive endocrinology are typically treated with ART. The use of ART has an impact on surrogacy orders as well. The market for assisted reproductive technologies is anticipated to grow rapidly over the course of the forecast period as a result of the growing number of single parents and increased public awareness of same-sex relationships and ARTs. The Human Rights Campaign (HRC) Foundation's 2022 update shows that the number of nations with a majority same-sex marriage rate has increased to 32. To further improve this rate, certain nations are currently exploring legislative or judicial action. Due to the surge in same-sex partnerships, it is projected that demand for ART operations will increase significantly, boosting market expansion. Many organisations, including the Society for Assisted Reproductive Technologies (SART) and the American Society for Reproductive Medicine, are working together to increase public knowledge of the numerous infertility treatment options. Due to increased medical treatment costs, ethical concerns, the danger of prematurity associated with ART, and a lower success rate, the market for assisted reproductive technologies (ART) will develop slowly over the forecast period.
COVID 19 Impact
Due to business closures and the ensuing drop in patient care volumes, the pandemic had a detrimental effect on the industry. After the pandemic, industry growth is anticipated to be boosted by the deployment of telehealth in the field of ART. The use of telehealth in ART therapies is still in its infancy. But, because of the advantages of remote monitoring and continuous management, it has a very bright future.
The IVF segment is holding the largest market share over the forecast period.
On the basis of type, the assisted reproductive technology has been segmented into IVF and artificial insemination. The segment is further sub segmented into IVF into four categories into fresh non-donor, frozen non-donor, and fresh donor. The frozen non-donor category kept a substantial portion of the revenue in 2021. The growth is a result of frozen non-donor IVF's advantages over traditional IVF methods. The frozen non-donor approach is applied when a woman is releasing healthy eggs while getting ART for male infertility or a fallopian tube issue.
The fertility clinics & other facilities is dominating the market over the forecast period.
Based on the end use, the global assisted reproductive technology has been segmented into Fertility Clinics & Other Facilities, Hospitals & Other Settings. Among these, the fertility clinics and other facilities is dominating the market over the forecast period. Over the projection period, the category is expected to keep expanding at the highest rate and hold the top spot in the market. An increase in infertility cases and the need for a specialised setting to perform ART can be blamed for the high percentage and rapid growth.
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Europe is dominating the market with the largest market share over the forecast period.
In 2022, Europe dominated the market and generated the biggest revenue share. The high percentage is attributed to a rise in the infertility rate, increased awareness of fertility treatments, technological advancements, and supportive government initiatives. According to the European Society of Human Reproduction and Embryology, the European Union has the highest rate of infertility in the world, affecting almost 25 million people. North America is expected to expand significantly during the projection period. The success that patients are having with their treatment is related to the growth.
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