Market overview
Global Fertility Services Market is expected to register a CAGR of 6.02% during the forecast period and hit USD 37,357.51 Million by 2027.
Fertility services are procedures or treatments incorporated to cure genetic and fertility issues and assist in conception. These services include Assisted Reproductive Technology (ART) methods and drugs that help single parents, infertile couples, and the Lesbian, Gay, Bisexual, and Transgender (LGBT) community in planning a family.
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The declining fertility rate, technological advancements in fertility treatments, growth in the median age of first-time motherhood, and rise in obesity and the consumption of alcohol/cigarettes lead to infertility, which is eventually driving the market for fertility services. According to ESHRE, more than 25 million European Union (EU) citizens are affected by infertility. In France, reimbursement/state funding includes six IUI’s (one IUI per menstruation cycle) and four IVF treatments for women under 43 years of age. These factors support the growth of the global fertility services market.
Market Segmentation
Types of treatments include Assisted Reproductive Technology (ART) and infertility medications. The antiretroviral treatment segment is also segmented into artificial insemination, in vitro fertilization (IVF), frozen embryo replacement (FER), and others. The ART segment should be the preferred treatment for infertility due to the high success rate. In addition, the introduction of in vitro fertilization treatments, the availability of reimbursement systems that cover these options, and the patients’ disposable income may stimulate segment demand over the forecast period.
Regional Analysis
Europe leads the market with the most significant share of 34.6%. Growing at a promising CAGR of 8.50%, the European markets growth can be attributed to the low fertility rate in the region as well as a trend of delayed family planning. Due to this, the regions reimbursement policies are promoting demand for fertility services.
The Americas have been established as the second largest regional market. The regions well-developed healthcare system and adoption of advanced technologies have boosted fertility services in the region. Moreover, the high obesity rates in the U.S has led to a dip in fertility rates, and as a result, women are turning to fertility services, thus encouraging market growth.
The APAC region is slated to grow at the fastest pace during the forecast period. Rapid urbanization in the region has resulted in changing lifestyles and the emergence of increased fertility problems. Increasingly favorable reimbursement policies and the adoption of sophisticated technology is expected to improve market growth, particularly in countries like Japan and India.
Key Players
Notable players profiled in the fertility services market report include Vitrolife (US), Ferring Pharmaceuticals Inc. (US), CARE Fertility Group Limited (UK), CooperSurgical Inc (US), Irvine Scientific (US), Cook Medical (US), and Merck KGaA (Germany). Key players have incorporated several strategies to suffice the needs of the customers and stay ahead in the competition. These strategies include partnerships, collaborations, joint ventures, recent developments, mergers and acquisitions, and innovations.
LIST OF FIGURES
FIGURE 1 GLOBAL FERTILITY SERVICES MARKET STRUCTURE 15
FIGURE 2 BOTTOM-UP AND TOP-DOWN APPROACHES 21
FIGURE 3 MARKET DYNAMICS: ANALYSIS OF THE GLOBAL FERTILITY SERVICES MARKET 24
FIGURE 4 PORTER’S FIVE FORCES ANALYSIS: GLOBAL FERTILITY SERVICES MARKET 29
FIGURE 5 VALUE CHAIN ANALYSIS OF THE GLOBAL FERTILITY SERVICES MARKET 31
FIGURE 6 GLOBAL FERTILITY SERVICES MARKET, BY UNDERLYING CAUSE, 2020 & 2027 (USD MILLION) 34
FIGURE 7 GLOBAL FERTILITY SERVICES MARKET, BY TREATMENT TYPE, 2020 & 2027 (USD MILLION) 37
FIGURE 8 GLOBAL FERTILITY SERVICES MARKET FOR ART, BY TREATMENT TYPE, 2020 & 2027 (USD MILLION) 38
FIGURE 9 GLOBAL FERTILITY SERVICES MARKET, BY REGION, 2020 & 2027 (USD MILLION) 42
FIGURE 10 EUROPE: FERTILITY SERVICES MARKET SHARE, BY REGION 2020 (%) 43
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