Growth Factors of Assisted Reproductive Technology (ART) Marke
The global Assisted Reproductive Technology (ART) market has witnessed significant growth in recent years and is poised to continue its upward trajectory. Valued at approximately USD 21.32 billion in 2018, the market is projected to reach USD 45.06 billion by 2026, reflecting a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2019 to 2026 .
Market Drivers
Several factors contribute to the expansion of the ART market:
1. Rising Infertility Rates: Increasing infertility rates, attributed to factors such as delayed marriages, lifestyle changes, and environmental influences, are driving the demand for ART services.
2. Technological Advancements: Innovations in ART techniques, including In-Vitro Fertilization (IVF), Artificial Insemination-Intrauterine Insemination (AI-IUI), and Frozen Embryo Transfer (FET), have improved success rates and broadened treatment options.
3. Government Initiatives: Supportive policies and regulations, such as the establishment of ART and surrogacy boards in regions like Odisha, India, are enhancing the accessibility and ethical standards of fertility treatments .
Market Segmentation
The ART market can be segmented based on technique, procedure, and end-user:
By Technique:
In-Vitro Fertilization (IVF): Dominates the market due to its high success rates and widespread adoption.
Artificial Insemination-Intrauterine Insemination (AI-IUI): A less invasive option with increasing popularity.
Frozen Embryo Transfer (FET): Gaining traction for its convenience and flexibility.
By Procedure:
Fresh Donor: Involves the use of fresh eggs or sperm from a donor.
Fresh Non-donor: Utilizes the patient's own eggs or sperm.
Frozen Donor: Employs frozen eggs or sperm from a donor.
Frozen Non-donor: Uses the patient's own frozen eggs or sperm.
By End-User:
Fertility Clinics: The primary setting for ART procedures.
Hospitals: Offer ART services, particularly in specialized departments.
Regional Insights
Europe: Led the global ART market in 2018, generating USD 8.78 billion in revenue, driven by a high prevalence of infertility and increasing demand for fertility services .
North America: The United States is witnessing significant growth in the ART market, fueled by increasing infertility rates, advancements in medical technologies, and rising awareness about reproductive treatments.
Asia-Pacific: Expected to register the highest growth rate during the forecast period, primarily due to rising awareness about infertility treatments, improving healthcare infrastructure, and increasing disposable incomes .
Challenges
Despite the positive growth trajectory, the ART market faces several challenges:
1. High Treatment Costs: The expense associated with ART procedures can be prohibitive, limiting access for many individuals.
2. Success Rates: Variable success rates across different age groups and treatment types can impact patient outcomes and satisfaction.
3. Socio-Ethical Concerns: Ethical considerations surrounding ART, such as embryo selection and surrogacy, can influence public perception and acceptance.
Future Outlook
The ART market is expected to continue its growth, driven by ongoing advancements in technology, increasing awareness, and supportive government policies. However, addressing challenges related to cost, success rates, and ethical concerns will be crucial for sustaining this growth and ensuring equitable access to ART services.
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Historical Period 2015-2017
Unit Value (USD billion)
Segmentation By Technique
In Vitro Fertilization (IVF)
Artificaial Insemination (AI-IUI)
Frozen Embryo Transfer (FET)
Others
By Procedure
Fresh Donor
Fresh Non-donor
Frozen Donor
Frozen Non-donor
By End User
Hospitals
Fertility Clinics
By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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