Assisted Reproductive Technology (ART) Market Size By Type (Product {Media, Catheters, Needles, Vitrification Devices, Incubators}, Procedure {Fresh Donor, Fresh Nondonor, Frozen Donor, Frozen Nondonor, Embryo/Egg Banking}, Procedure Technology {In-Vitro

Assisted Reproductive Technology (ART) Market Size By Type (Product {Media, Catheters, Needles, Vitrification Devices, Incubators}, Procedure {Fresh Donor, Fresh Nondonor, Frozen Donor, Frozen Nondonor, Embryo/Egg Banking}, Procedure Technology {In-Vitro Fertilization (IVF) [IVF with Intracytoplasmic Sperm Injection (ICSI), IVF without ICSI], Artificial Insemination-Intrauterine Insemination (AI-IUI), Frozen Embryo Replacement (FER)]}), By End-User/Provider (Hospitals, Fertility Clinics), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Global Assisted Reproductive Technology (ART) Market is poised to gain significant traction between 2023 and 2032, primarily owing to the demographical shift towards the acceptance of ART (assisted reproductive technology).

Besides, delayed childbearing in the European region will also foster the market demand. As per reports, in the EU, the mean age of women giving birth to their first child has gone up from 28.8 years in 2013 to 29.3 in 2018. Furthermore, the cost of assisted reproductive technology is significantly reducing in developing countries, which will also fuel the market demand.

In addition, key providers in the assisted reproductive technology market are seeking to strengthen their position in the industry by expanding their product ranges and engaging in mergers, acquisitions, and joint ventures. To cite an instance, in January 2023, INVO Bioscience, a commercial-stage fertility company, which is well-known for its intravaginal culture procedure and INVOcell medical device, announced entering a distribution agreement with Ming Mei Technology Co. Ltd., which will enable it to cater to the Taiwanese market.

Overall, assisted reproductive technology market has been segmented in terms of type, end user/provider, and region.

On the basis of type, the ART product segment is anticipated to grow robustly over the next ten years. There is a range of products that are associated with assisted reproductive technology, and used in pre-implantation procedures and for embryo development. Meanwhile, the variants available in terms of the procedure are also increasing, and the wide adoption of different products and procedures in the wider context of assisted reproductive technologies is expected to drive the market during the foreseeable future.

Based on the end user/provider, the assisted reproductive technology market is likely to be characterized by the others segment, which comprises egg banks and IVF centers. The segment is anticipated to grow at over 7% CAGR during the next decade, owing to the increasing cases of infertility. Besides, IVF centers across the globe are also resorting to various initiatives such as social media awareness campaigns and digital marketing, which will benefit the market expansion through 2023-2032.

In the regional context, the Latin America ART market is anticipated to register significant gains, depicting more than 7% CAGR by 2032. The regional market growth can be accredited to the increasing number of awareness campaigns and the expansion of healthcare infrastructure. Furthermore, the adoption of emerging technologies by the key service providers in this region will also drive the market.