Infertility Treatment Devices and Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Ovum Aspiration Pumps, Sperm Separation Devices, Sperm Analyzer Systems, Micromanipulator Systems, Incubators, Others); Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery); End User (Fertility Clinics, Hospitals and Other Healthcare Facilities, and Clinical Research Institutes), and Geography
The infertility treatment devices and equipment market was valued at US$ 1,050.00 million in 2019 and is projected to reach US$ 1,973.68 million by 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.
The growth of the infertility treatment devices and equipment market is mainly attributed to the increasing incidence of infertility in both sexes and rising number of fertility clinics and infertility services with government support. However, the high procedural cost of reproductive techniques hinders the market growth.
Fertility clinics are among medical clinics that support couples to gain fertility. Sometimes, individuals who want to conceive pregnancy but for medical reasons have been unable to achieve this goal through the natural course. There are several fertility clinics and services offered in the counties of NA and Europe to prevent infertility. Assisted reproductive technology (ART) now produces more than 50,000 babies per year in the US through 330,000 in vitro fertilization (IVF) procedures. Demand is growing from the ranks of more than seven million infertile women, many of which delayed childbearing due to careers. In the US, there are about 450 fertility clinics, more than 100 sperm banks, an unknown number of egg donors, and 1,700 reproductive endocrinologists competing for the business. IntegraMed and Prelude Fertility exist in the two large chains, as most programs are run by small M.D. practices or are part of a hospital or University. Various government initiatives and changes in the legal system drive the demand for assisted reproduction procedures in clinics. In the US, around 14 states cover infertility treatment under medical insurance. In Canada, the government is initiating measures to control the declining population, wherein it has sponsored various cycles of artificial insemination and IVF.
Based on product type, the infertility treatment devices and equipment market is segmented into ovum aspiration pumps, sperm separation devices, sperm analyzers systems, micromanipulator systems, incubators, and others. The ovum aspiration pumps segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.
Based on procedure, the infertility treatment devices and equipment market is segmented into assisted reproductive technology, artificial insemination, and fertility surgery. The artificial insemination segment held the largest share of the market in 2019; whereas, the assisted reproductive technology segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the infertility treatment devices and equipment market is segmented into hospitals and other healthcare facilities, fertility centers, and clinical research institutes. The fertility centers segment held the largest share of the market in 2019 and is expected to register CAGR in the market during the period.
The Food and Drug Administration (FDA), Centers For Disease Control And Prevention, Canadian Fertility And Andrology Society, Dubai Health Authority, International Committee Monitoring Assisted Reproductive Technologies, and Indian Society Of Assisted Reproductionare among the major secondary sources referred for preparing this report.
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