Assisted Reproductive Technology Market

Global Assisted Reproductive Technology Market Size (2023 to 2028)

The global market for assisted reproductive technology is predicted to value USD 66.31 billion by 2028 from USD 25.31 billion in 2023, growing at a CAGR of 21.24% from 2023 to 2028.

Assisted reproductive technologies (ART), also called assisted reproductive treatment, confer with techniques used to treat infertility. ART includes all fertility treatments during which eggs or embryos are manipulated. In general, ART procedures involve surgically removing eggs from a woman's ovaries, combining them with sperm within the laboratory, and either putting them into the female body or donating them to a different woman.

The impact of COVID-19 on the global assisted reproductive technology market:

The outbreak began in early March 2020 and continued for over a year. The lockdowns and quarantines are the results of the coronavirus outbreak. Many businesses have suffered losses due to shipping and travel restrictions. The unemployment rate rose, and the financial situation deteriorated due to the unexpected increase in patients and the severe shortage of hospital resources such as oxygen cylinders.

The assisted reproductive technology market had a negative impact because of the Covid-19 outbreak.

As a result, governments have adopted different strategies to forestall the rapid spread of infection. Some measures included suspension fertility treatments, like ovulation induction, AI, in vitro fertilization (IVF), the cancellation of all embryo transfers, and non-emergency cryopreservation gametes.

The possibility of sexual transmission of the SARS-CoV-2 virus, its impact on male and feminine fertility, pregnancy, and, therefore, the manipulation of gametes in clinical laboratories are the most concerns of specialists in reproductive medicine. This led to the collapse of all reproductive problems and many health services. As a result, even the people had no intention of conceiving during the pandemic crisis and were hesitant to avail of those services.

MARKET DRIVERS:

The growing number of infertile cases worldwide needing assistance with fertility issues is one of the major factors propelling the assisted reproductive technology market.

The rise in infertility cases, which late marriages may bring on, obesity, stressful lifestyles, high junk food consumption, alcoholism, smoking, drug addiction, and other factors, is the primary driver behind the adoption of assisted reproductive technology (ART). According to the World Health Organization (WHO), in 2020, approximately 186 million people and 48 million couples were diagnosed with infertility. In addition, the rapid increase in the geriatric population and the declining birth rate in different regions of the world are expected to impact the ART market significantly.

During the forecast period, there will also be an increase in single parents, same-sex marriages, and awareness of assisted reproductive technologies, which are anticipated to favor market growth. Furthermore, it is predicted that the market is prospering because of the latest development of emerging companies and the rising per capita income in countries leading to more economic strength supporting market growth. On the other hand, increase in cases of infertility in men and women due to lifestyle changes, irregular eating and sleeping habits, deprivation of the body from complete rest, etc. Infertility can also occur in men. In addition, ovulation problems, fallopian tubes, gynecological conditions such as endometriosis or fibroids, and disorders related to sperm count and quality can all affect fertility in women. Hence the increasing rate of infertility in both men and women globally is a crucial driver for the growth. The main reason for this is that fertility declines with age. As a woman matures, the quality of her eggs deteriorates. Furthermore, because women are born with all their eggs, older women have fewer eggs. Natural aging also increases the chances of miscarriage and having a child with a genetic disease.

The growing acceptance of ART in society due to the adoption of more advanced technologies such as magnetically activated cell sorting (MACS), endometrial receptivity testing (ERA), preimplantation genetic testing (PGT), and accelerated images of embryos is expected to drive demand for ART procedures. Moreover, critical competitors' technological advances, new product launches, and strategic mergers and acquisitions are likely to drive market expansion over the forecast period.

MARKET RESTRAINTS:

Extensive costs of artificial reproductive procedures, the growing strict regulations of governments relating to ARTs, and the ethical issues associated with using the services are a few of the key factors hampering the growth of assisted reproductive technology market. According to the World Health Organization (WHO), most women in emerging countries cannot afford infertility services due to their high costs. Additionally, the reproductive procedure of In Vitro fertilization has several risk factors associated with the health of the concerned patient, further hindering the market expansion.

REPORT COVERAGE:

This research report on the global assisted reproductive technology market has been segmented and sub-segmented based on product, technology, and region.

Assisted Reproductive Technology Market – By Product:

• Instruments
  • Sperm Separation System
  • Cryosystem
  • Incubator
  • Imaging System
  • Ovum Aspiration Pump
  • Cabinet
  • Micromanipulator
  • Laser Systems
  • Others
• Accessory & Disposable
• Reagents & Media
  • Cryopreservation Media
  • Semen Processing Media
  • Ovum Processing Media
  • Embryo Culture Media

Based on the product type, the accessories and disposables segment accounted for the leading share of the market in 2022, owing to the increased prevalence of infertility and growing demand for IVF.

On the other hand, the reagents and media segment is expected to showcase a healthy CAGR during the forecast period owing to the rise in the prevalence of infertility, the increase in demand for frozen embryo transfer, and the increase in the number of frozen embryos transfer procedures.

Assisted Reproductive Technology Market – By Application:

• In Vitro-Fertilization
• Artificial Insemination

Based on the application, the number of IVF cycles using frozen donor-free procedures is increasing compared to other procedures. Moreover, such procedures are offered at low cost in developing countries like India, so many people who find it challenging to conceive are opting for this treatment in developing countries, resulting in the growth of this segment. Additionally, the growing awareness of the ART procedure and its success rates is expected to drive the market's growth over the forecast period.

At the same time, the artificial insemination segment is anticipated to rise at a promising pace during the forecast period. Artificial Insemination is a procedure where semen is artificially introduced into the uterus. Given that it is less traumatic and more affordable than IVF, the artificial insemination market is likewise anticipated to grow faster.

Assisted Reproductive Technology Market – By End-User:

• Hospitals
• Fertility Clinics

Based on the end users, the fertility clinics segment led the market in 2022 and is anticipated to continue the domination throughout the forecast period owing to the increasing prevalence of fertility cases and the growth in the number of fertility clinics. The growth can be attributed to the advantages associated with frozen non-donor over other IVF procedures. In addition, it helps determine whether non-surgical or surgical infertility treatments are best for an individual case.

However, the hospital segment is expected to witness considerable growth over the forecast period due to the increase in the number of infertility surgeries and the increase in the demand for in vitro fertilization. Additionally, several female conditions that cause infertility can be treated with surgery.

Assisted Reproductive Technology Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, North America accounted for a significant share of the global assisted reproductive technology market in 2022 and is expected to showcase its domination over the regions in the global market throughout the forecast period due to factors such as rising infertility in the region along with initiatives to government agencies, robust healthcare infrastructure, declining fertility, and advances in antiretroviral treatment technologies. About 9% of men and about 11% of women of reproductive have experienced fertility problems, among which about one-third have a problem with the man.

Europe had the second largest share of the global market in 2022 and is forecasted to account for a substantial share of the global market during the forecast period owing to increased incidence of infertility cases, increased use of advanced equipment services, increased funds from government and private organizations for in vitro fertilization (IVF), and advances in infertility technology in the region.

On the other hand, the Asia-Pacific region is expected to grow at a promising CAGR during the forecast period due to the rising incidence of infertility cases, rising awareness about surrogacy, and rising demand for surrogacy technologies. In 2019, according to OECD iLibrary, women of East Asian economies had the fewest children. It is because of the postponement of having children or opting for fewer children among the women who aim to gain higher education and pursue promising labor market careers. This has resulted in a rise in infertility cases.

Latin America, the Middle East, and Africa are also expected to witness a moderate CAGR during the forecast period owing to the development of healthcare infrastructure and the rising prevalence of infertility.

KEY MARKET PLAYERS:

Companies playing a significant role in the global assisted productive technology market profiled in this report are Cryolab Ltd., Bloom IVF Center, Ferring Pharmaceuticals, Cosmos Biomedical, FUJIFILM Irvine Scientific, Inc., European Sperm Bank, Ovascience, Parallabs, Microm UK Ltd., Cook Medical and The Cooper Companies Inc.

RECENT HAPPENINGS IN THIS REPORT:

• In September 2022, Gameto, a biotechnology firm that creates treatments for illnesses of the female reproductive system using cell engineering, brings together an experienced, visionary, and passionate scientific leadership team to develop innovative women's health products.
• In September 2022, Jehangir Hospital in Pune, Maharashtra, India, launched a state-of-the-art IVF center. It is fully equipped to offer various services, including IUI IVF ICSI, Laser Incubation, Egg Donation Program, sperm conservation, oncofertility, social freezing of eggs, and vitrification of gametes and embryos.