Continuous fall of fertility rates, delay of pregnancies in women, and technological advancements related to fertility treatments drive the global fertility services market
PORTLAND, Oregon, Oct. 31, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Fertility Services Market by Procedure (IVF with ICSI, IUI, IVF without ICSI, Surrogacy, and Others) and Service (Fresh Non-donor, Frozen Non-donor, Egg & Embryo Banking, Fresh Donor, and Frozen Donor): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global fertility services industry garnered $13.65 billion in 2018, and is expected to reach $27.15 billion by 2026, registering a CAGR of 8.9% from 2019 to 2026.
Prime determinants of growth
Continuous fall of fertility rates, delay of pregnancies in women, and technological advancements related to fertility treatments drive the global fertility services market. However, lack of effective reimbursement policies and high costs of treatment of ARTs in developing nations hinder the market growth. On the other hand, surge in fertility tourism create new opportunities in the market.
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The IVF with ICSI segment to continue its dominant position during the forecast period
Based on cycle type, the IVF with ICSI segment accounted for more than half of the total share of the global fertility services market in 2018, and is estimated to continue its dominant position during the forecast period. Moreover, this segment is expected to register the highest CAGR of 10.2% from 2019 to 2026. This is due to its applicability and utilization in IVF procedures along with high rate of success. The research also analyzes segments including IUI, IVF without ICSI, surrogacy, and others.
The fresh non-donor segment to maintain its leadership status in terms of revenue by 2026
Based on end user, the fresh non-donor segment held the highest share in the global fertility services market in 2018, contributing for more than half of the total share, and will maintain its leadership status in terms of revenue throughout the forecast period. This is attributed to this segment being the preferred form of cycle and the majorly practiced type among other types. Contrarily, the egg & embryo banking segment is expected to register the fastest CAGR of 11.3% from 2019 to 2026, owing to rise in prominence of egg freezing, advantages offered by egg freezing techniques including low stress, less cost, and convenience.
Asia-Pacific to present lucrative opportunities; North America to grow at remarkable CAGR
Based on region, Asia-Pacific held the highest share in 2018, followed by North America, accounting for nearly two-fifths of the global fertility services market, and will maintain its leadership status during the forecast period. in addition, Asia-Pacific is expected to witness the highest growth rate, registering a CAGR of 10.8% from 2019 to 2026. This is due to rise in awareness & acceptance for fertility services, low cost procedures, and rise in fertility tourism in the region.
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Leading market players
- Apollo Hospitals Enterprise Ltd.
- Care Fertility Group
- Carolinas Fertility Institute
- Genea Limited
- The Johns Hopkins Health System Corp.
- Medicover Group
- Monash IVF Group
- OvaScience Inc.
- Progyny Inc.
- Xytex Cryo International
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SOURCE Allied Market Research