Fertility Services Market Size to Receive Immense Growth of USD 46.06 Billion with an Excellent CAGR of 6.0% by 2030
Research Reports
Aug 22, 2023
Fertility Services Market Research Report: Information By Underlying Cause (Male Infertility and Female Infertility), By Treatment Type (ART, And Infertility Drugs), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
The global fertility services market is projected to grow at a CAGR of 6.0% from 2022 to 2030, to reach a value of USD 46.06 billion by 2030. The growth of this market is being driven by a number of factors, including the increasing incidence of infertility, the rising number of single and same-sex couples, and the growing availability of advanced fertility treatments.
Infertility is defined as the inability to conceive after 12 months of regular unprotected sex. It affects an estimated 15% of couples worldwide. The incidence of infertility is increasing due to a number of factors, including delayed childbearing, environmental factors, and lifestyle choices.
The rising number of single and same-sex couples is also driving the growth of the fertility services market. These couples are increasingly turning to assisted reproductive technologies (ART) to have children. ART procedures such as in vitro fertilization (IVF) and intracytoplasmic sperm injection (ICSI) have high success rates, making them a popular choice for couples who are struggling to conceive.
The growing availability of advanced fertility treatments is also contributing to the growth of the market. New technologies such as genetic testing and embryo selection are helping to improve the success rates of ART procedures. These technologies are also making it possible for couples to have children who are free from genetic diseases.
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Competitive Analysis
The global fertility services market is dominated by a few major players, including
- Merck KGaA
- Cook Medical
- Irvine Scientific Company Inc.
- Copper Surgical
- Kitazato Cooperation
- Vitrolife
- Ferring B. V
- Monash IVF Group
- Care Fertility
These companies are investing heavily in research and development to develop new and innovative fertility treatments. They are also expanding their geographic reach to tap into new markets.
Market Segmentation
The global fertility services market can be segmented based on several factors, including:
Service type: This includes diagnostic services, infertility drugs, and ART procedures such as in vitro fertilization (IVF), intrauterine insemination (IUI), and gamete donation.
End user: This includes fertility clinics, hospitals, and research institutes.
Region: As mentioned earlier, the market can be segmented by region, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Technology: This includes emerging technologies such as artificial intelligence, machine learning, and pre-implantation genetic testing (PGT).
Gender: The market can also be segmented based on the gender of the individual seeking fertility services, such as male infertility treatments, female infertility treatments, or services for same-sex couples.
Application: This includes services related to infertility, reproductive endocrinology, and others.
Procedure type: This includes services such as fresh non-donor IVF cycles, thawed non-donor IVF cycles, and donor egg IVF cycles.
Segmentation of the fertility services market can provide a better understanding of consumer preferences and enable companies to develop targeted marketing strategies. Additionally, it can help healthcare providers and policymakers identify areas of need and allocate resources accordingly.
Regional Analysis
North America: North America is the largest market for fertility services, accounting for a market share of over 30% in 2022. The high prevalence of infertility, the rising number of single and same-sex couples, and the increasing availability of advanced fertility treatments are driving the growth of the market in this region. The United States is the largest market in North America, followed by Canada and Mexico.
Europe: Europe is the second largest market for fertility services, accounting for a market share of over 25% in 2022. The factors driving the growth of the market in this region are similar to those in North America. The United Kingdom is the largest market in Europe, followed by Germany, France, and Italy.
Asia-Pacific: Asia-Pacific is the third largest market for fertility services, accounting for a market share of over 20% in 2022. The growth of the market in this region is being driven by the rising incidence of infertility, the increasing number of single and same-sex couples, and the growing disposable income of people in this region. India is the largest market in Asia-Pacific, followed by China and Japan.
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Latin America: Latin America is the fourth largest market for fertility services, accounting for a market share of over 10% in 2022. The factors driving the growth of the market in this region are similar to those in other regions. Brazil is the largest market in Latin America, followed by Mexico and Argentina.
MEA: The Middle East and Africa (MEA) is the smallest market for fertility services, accounting for a market share of less than 5% in 2022. However, the market is expected to grow at a faster rate than other regions in the coming years. The factors driving the growth of the market in this region are the rising incidence of infertility, the increasing number of single and same-sex couples, and the growing awareness about fertility treatments.
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Infertility Market Research Report By Sex (Males, Females, Unexplained), By Diagnosis (Men Diagnostic Tests, Women Diagnostic Tests, General Diagnostic Test), By Drugs (Clomiphene Citrate, Letrozole, Serophene, Hormone Treatment, Others), By Technology (Assisted Reproductive Technology, Intrauterine Insemination, Surgery), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032
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