Assisted Reproductive Technology Market to Reach USD 45.06 Billion by 2026 on Account of Growing Adoption of Technologically Advanced Fertility…

Pune, June 02, 2020 (GLOBE NEWSWIRE) -- The global assisted reproductive technology market size is likely to gain traction owing to the increasing cases of infertility worldwide. The Centres for Disease Control and Prevention states an average of 306,174 ART cycles was undertaken in 2018 within fertility clinics in the United States. As per a recent study by Fortune Business Insights titled, Assisted reproductive technology market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2019-2026, the market is expected to reach USD 45.06 billion by the end of 2026 from USD 21.32 billion earned in 2018, by exhibiting a CAGR of 9.8% between 2019 to 2026.

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Drivers & Restraints-

Rising Cases of Infertility Among Men and Women to Augment Growth

As per the 2018 National Survey of Family Growth (NSFG) report, an estimated 6.7% women between the ages 15 to 44 years were suffering from infertility in the U.S. This may be due to change in lifestyle, irregular eating and sleeping habits, therefore depriving the body of complete rest, and others. Infertility can also occur in men and therefore the increasing rate of infertility among both men and women on a global basis is a key factor propelling the assisted reproductive technology market growth.

On the negative side, the high cost associated with the treatment may pose a major hindrance to the market in the coming years. According to the World Health Organization (WHO), most females residing in emerging nations do not opt for this service owing to its high cost. This, coupled with the socio-ethical stigma associated with the treatment procedures may also hamper the market in the coming years.

Nevertheless, the advent of various conceiving techniques such as in-vitro fertilization (IVF), gamete Intrafallopian transfer (GIFT), artificial insemination (AI-IUI) and frozen embryo transfer (FET), coupled with its success rates are further expected to add impetus to the market in the coming years.

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Segment-

In Vitro Fertilization (IVF) Segment Held Dominance Owing to Cost Efficiency

Based on segmentation by technique, the in vitro fertilization (IVF) segment earned a 79.2% share in the market in 20918. This is accountable to the fact that a patient can try opting for this procedure multiple times at a lower cost, thereby increasing the chances of pregnancy.

Regional Analysis-

Europe Earned Highest Share Attributable to Rising Prevalence of Infertility Cases

Geographically, Europe earned USD 8.78 billion in 2018 and gained the highest ART market share on account of the increasing prevalence of infertility cases in the region, followed by increasing demand for assisted reproductive technology for conceiving. Germany, the UK, Spain, France, and Denmark are the most active nations for fertility services in this region.

Additionally, the North America market will witness significant growth on account of increasing adoption of technologically advanced fertility services in the U.S. Besides this, Asia Pacific market will also witness rapid growth in the coming years on account of the increasing disposable incomes of people, developing healthcare infrastructure and reduction in socio-ethical stigma among the local population.

Competitive Landscape-

European Sperm Bank, California Cryobank, and Bloom IVF Centre are Holding Dominance Owing to Strong Portfolio

Players operating in the market for assisted reproductive technology (ART) are engaged in various strategies such as strong network and portfolio, and introduction of better-advanced fertility procedures at efficient prices for gaining momentum in the market. Currently, players namely California Cryobank, Bloom IVF Centre, and European Sperm Bank are dominating the market with their strong portfolio.

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Key Industry Developments of the Market include:

July 2019 A provider of fertility services based in Queensland called Fertility Solutions acquired Monash IVF Group for expanding its geographical presence.

April 2019 A major stake of CARE Fertility was acquired by Silverfleet Capital Partners with the major objective of strengthening their portfolio.

List of key Companies Operating in the Assisted Reproductive Technology Market. They are as follows:

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Detailed Table of Content:

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Assisted Reproductive Technology Market to Reach USD 45.06 Billion by 2026 on Account of Growing Adoption of Technologically Advanced Fertility...

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