Global Assisted Reproductive Technology Market - 2023-2030

Global Assisted Reproductive Technology Market - 2023-2030

The global assisted reproductive technology market reached US$ 33.8 billion in 2022 and is expected to witness lucrative growth by reaching up to US$ 53.7 billion by 2030. The global assisted reproductive technology market is expected to exhibit a CAGR of 6.1% during the forecast period (2023-2030).

Assisted Reproductive Technology (ART) drives advancements in reproductive medicine, leading to improved success rates, safety, and efficiency of fertility treatments. Ongoing research and technological developments contribute to better understanding and management of infertility. As a result, the field continues to evolve, offering innovative solutions and treatment options to individuals and couples seeking reproductive assistance.

MarketDynamics
The Key Strategies by the Key Players Helps to Drive Market Growth
The key strategies by the key players helps to drive market growth. For instance, on January 5, 2021, CooperSurgical, a prominent provider of women's health care solutions, has acquired Embryo Options, a well-known provider of cryo-storage software for clinics and patients.

CooperSurgical's full array of breakthrough reproductive treatments has been expanded with this acquisition.

Clinics that work with Embryo Options benefit from automated billing and streamlined management of cryo-preserved embryos, eggs, and sperm, which leads to increased collections, lower specimen abandonment, and lower cryo-inventory management costs.

The Rising Number of Single Parenting will Drive the Market Growth
The growing number of single parents, as well as increased awareness of same-sex weddings and assisted reproductive technologies, are likely to play a key influence in the growth of the ART market throughout the forecast period.

For instance, according to the Human Rights Campaign (HRC) Foundation's 2022 report, the number of nations where same-sex marriage is legal has climbed to 32 in 2022, with parliamentary or court processes beginning in several countries, and this graph is anticipated to rise further. As a result of the increase in same-sex marriages, demand for ART treatments is predicted to rise dramatically, boosting growth in the maket.

High Cost of Assisted Reproductive Technology Systems will Hamper the Market Growth

ART procedures involve laboratory work, including sperm and egg retrieval, fertilization, embryo culture, and cryopreservation. The specialized equipment, consumables, and expertise required for these laboratory services contribute to the cost. Additionally, long-term storage of frozen embryos or gametes incurs ongoing fees for maintenance and storage facilities.

Advancements in ART techniques and technologies require ongoing research and development. The cost of conducting research studies, clinical trials, and innovation in the field of reproductive medicine is reflected in the overall expense of ART systems.

COVID-19 Impact Analysis
Many ART clinics had to temporarily suspend or limit their services during the pandemic due to lockdowns, social distancing measures, and overwhelmed healthcare systems. This disruption led to the postponement or cancellation of fertility treatments for individuals and couples, causing significant emotional and logistical challenges.

The pandemic made it difficult for individuals to undergo fertility evaluations and diagnostic tests. Non-essential medical appointments and procedures were often postponed or canceled, leading to delays in identifying and addressing fertility issues. This delay in diagnosis and treatment further prolonged the journey to parenthood for many individuals and couples.

Russia-Ukraine War Impact Analysis
The Russia-Ukraine conflict is estimated to have a moderate impact on the global assisted reproductive technology market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global assisted reproductive technology market growth over the forecast period.

Artificial Intelligence Impact Analysis
AI can be used in conjunction with preimplantation genetic testing (PGT) to analyze genetic and chromosomal data from embryos. AI algorithms can identify patterns and correlations between specific genetic markers and embryo viability, helping predict the likelihood of successful implantation and reducing the risk of genetic disorders in offspring. It is important to note that while AI holds great potential in improving ART systems, it should always be used in conjunction with the expertise and guidance of healthcare professionals.

Segment Analysis
The global assisted reproductive technology market is segmented based on technology type, procedure, end user and region.

The In-Vitro Fertilization Accounted for Approximately 53.2% of the Assisted Reproductive Technology Market Share

The ultimate benefit of IVF is a successful pregnancy and a healthy baby. IVF can make this a reality for people who might otherwise be unable to conceive a child. IVF gives women with blocked or damaged fallopian tubes the best chance of producing a child using their own eggs. Furthermore, new product releases and approvals by companies contribute to the segment's growth.

For instance, October. 25, 2022, TMRW Life Sciences, Inc. (TMRW), the company that invented of the world's first automated specimen management platform for frozen eggs and embryos used in in vitro fertilisation (IVF), has announced the opening of the world's most advanced fertility specimen cryostorage facility.

This technologically advanced facility in New York provides a new standard of care directly to patients and fertility clinic partners for the first time, delivering unparalleled levels of transparency into the safety of frozen eggs and embryos at the heart of practically every IVF experience. As a result, the aforementioned elements contribute to segment growth.

Geographical Analysis
North America Accounted for Approximately 43.4% of the Market Share
North America is expected to hold a significant market share in the global assisted reproductive technology market over the forecast period, owing to factors such as rising infertility in the region and public-sector initiatives that are expected to boost market growth over the forecast period.

For instance, infertility is on the rise. Infertile couples are using assisted reproductive technology (ART) at a rate of 5% to 10% each year. According to the United Nations, there were five children for every woman in the globe in 1950. In 2020, there will be two children for every woman on the planet.

In the United States, there has been a long-term reduction in birth and fertility rates, which has been linked to a variety of causes such as women's increased education and professional options, later marriage, improved access to contraception, delayed childbirth, and smaller family size. As a result, infertility rates are rising, which aids regional growth.

Competitive Landscape
The major global players in the assisted reproductive technology market are Irvine Scientific (FUJIFILM Corporation), CooperSurgical Inc, Thermo Fisher Scientific, Inc., Genea Biomedx, Microm UK Ltd, Hamilton Thorne Inc, Merck KGaA, Laboratoire CCD, Vitrolife AB, OvaScience Inc among others.

Why Purchase the Report?
• To visualize the global assisted reproductive technology market segmentation based on technology type, procedure, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of assisted reproductive technology market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global assisted reproductive technology market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies