Infertility Treatment Market Analysis and Forecast to 2031: By Product (Equipment, Media & Consumables, Accessories), Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgeries, Other), Patient Type (Female, Male), End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, Research Institutes), and Region
The global infertility treatment market was valued at USD 1.6 billion in 2021 and it is anticipated to grow further up to USD 3.6 billion by 2031, at a CAGR of 8.4% during the forecast period.
The inability of a person to reproduce naturally is known as infertility. There are several causes of infertility. The few causes include the aging of the mother, ovulatory problems, tubal obstruction or blockage, sex-transmitted diseases, immunological infertility, genetics, and infertility brought on by male factors. One way to treat infertility is to raise awareness. Other alternatives include IVF (in vitro fertilization), insemination, and drugs that help the body develop during the ovulation phase. The fertility procedure in which the body processes the sperm and eggs out of the body is referred to as assisted reproductive technology (ART). In an ART operation, a woman's ovaries are surgically removed, her eggs are fused with sperm in a lab, and either she returns the eggs to her body or donates them to another woman. With the aid of many diagnostic techniques, including ultrasound, physical examination, and evaluating sperm count & quality, among others, infertility can be identified in both men and women.
Market Trends and Drivers
Due to a variety of circumstances, including the rising trend of late marriages and the rise in age-related infertility, the fertility rate globally is progressively dropping. By 2030, it is predicted that there will be 2.4 offspring for every woman worldwide, and by 2050, there will be 2.2. The need for infertility treatment items that identify the reproductive window in males and females has significantly increased as a result of the dropping fertility rate.
Similarly, players in the infertility treatment market can expect to find considerable growth possibilities in emerging markets like China, India, Brazil, and Mexico. The increased emphasis on healthcare infrastructure upgrades is what distinguishes the market for infertility treatments in Asia and other emerging nations. The medical tourism sector is also flourishing in developing nations for a variety of reasons. Numerous doctors and surgeons throughout Asia have received their training at prestigious institutions in the US and Europe, and healthcare facilities and procedures are of a high standard. Emerging nations like India, China, Singapore, Thailand, Brazil, and Malaysia offer a lot of potential for the expansion of the market for infertility treatments. Players are increasingly focusing on strategic agreements/partnerships with regional/domestic players, geographical expansions, and acquisitions to increase their presence in these markets and tap a large number of customers in order to take advantage of the significant growth opportunities in emerging countries. Additionally, government measures to make infertility treatments more accessible as well as the rise in fertility clinics are causing an increase in infertility treatment procedures in developing nations.
Market Restraints and Challenges
Thousands of rounds of ART procedures including in vitro fertilization (IVF) are carried out year across the globe in addition to reproductive surgery. Due to the absence of reimbursement policies, the cost of IVF therapy varies from nation to nation. The development of this market is being constrained by a lack of insurance coverage and a problematic reimbursement environment in several regions of the world.
Global Infertility Treatment Market Segmental Overview
The report analyses the global infertility treatment market based on the product, procedure, patient type, end user, and region.
Global Infertility Treatment Market by Product
Based on the product, it is segmented into equipment, media & consumables, and accessories. The equipment segment is anticipated to capture the largest share in infertility treatment market. The existence of well-established firms with a robust product lineup and technological developments are to thank for this industry's rapid rise. Along with the players' increasing attention to base development through the use of various tactics, such as the introduction of new equipment, showcases throughout the world are likely to aid in the segment's growth.
Global Infertility Treatment Market by Procedure
Based on the procedure, it is segmented into assisted reproductive technology, artificial insemination, fertility surgeries, and others. The assisted reproductive technology segment is anticipated to dominate the market during the forecast period. The segment's expansion is projected to be aided by the increasing popularity of ART, its rising success rate, and its expanding acceptance on a global scale.
Global Infertility Treatment Market by Patient Type
Based on the patient type, it is segmented into females and males. The female infertility treatment segment is anticipated to dominate the market during the forecast period. The market for treating female infertility is expanding as a result of declining female fertility rates, increased availability of different fertility treatment choices, and an increase in the number of reproductive clinics around the world.
Global Infertility Treatment Market by End User
Based on the end user, it is segmented into fertility centers, hospitals & surgical clinics, cryobanks, and research institutes. The fertility centers segment accounted for the largest share of the infertility treatment market during the forecast period. Some of the factors that are likely to contribute to the segment's rapid growth include the rising government initiatives to establish fertility clinics, initiatives taken by major international healthcare providers to establish fertility centers, and the rising popularity of IVF and ICSI treatment globally.
Geographical Analysis of the Global Infertility Treatment Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is anticipated to dominate the market during the forecast period. Significant increase in medical travel, increasing public knowledge of the availability of infertility treatment options, expansion of fertility clinics in the region, rising healthcare costs, rising infertility rates in the region, and government measures to make infertility treatment more accessible in developing countries.
Major Players in the Global Infertility Treatment Market COVID-19 Impact
Currently, the coronavirus pandemic is posing a number of difficulties for patients and clinical healthcare professionals all around the world. The main hurdles facing healthcare systems around the world are logistical problems, managing patients with the disease, prioritizing patients with comorbidities and pre-existing disorders, and protecting public and hospital frontline employees from contact with the COVID-19 virus. Infertility affects one in six couples of reproductive age, and many of them seek out therapies like intrauterine insemination (IUI) and in vitro fertilization (IVF), which call for in-person consultations to be completed. Only 5 lakhs of the 30 lakh persons who seek infertility treatment in India each year actually have IVF or intrauterine insemination (IUI) procedures done. During the COVID-19 epidemic, there was a 90% decrease in the number of IVF cycles performed. The spread of COVID-19 has had an impact on couples that were considering IVF treatment prior to the pandemic as well as fertility clinics due to the cancellation of IVF procedures.
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