Market Analysis
Infertility problems have become quite common these days and there are a couple of reasons that is resulting in infertility including psychological, immunological, diseases, drugs or congenital. This is a difficult condition to face and handle. There are however various assisted reproductive technology (ART) treatments that are available which help to handle such situation and also solve it. ART is a biotechnologically advanced and complex technique that can aid a couple to conceive after all other surgical corrective and conventional medical procedures have failed. It comprises of treatments where the human gametes will be handled outside the human body to attain a pregnancy. ART is a cluster of an array of techniques that helps to treat infertility such as in vitro fertilization (IVF), fertility medication, cryopreservation of embryos or gametes and intracytoplasmic sperm injection (ICSI). Assisted Reproductive Technology falls under the reproductive endocrinology field.
The global assisted reproductive technology market is anticipated to grow at a stellar 10% CAGR during the forecast period (2018-2023).
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There are several factors that is propelling the growth of the assisted reproductive technology market. These factors according to MRFR (Market Research Future) report include increasing pollution, growing stress, obesity, rising number of smokers, fall in fertility rates, fertility threatening treatments namely chemotherapy, rising alcohol and tobacco consumption, increasing marital age, and increasing incidences of conditions such as endometriosis, tubal factors and PCOS (poly-cystic ovarian syndrome). Apart from these, the other additional factors include continuous technological advancements, rising government initiatives, key player acquisition and collaborations, rising disposable income, growing awareness regarding assisted reproductive technology services, efforts made by the government to augment healthcare infrastructure exclusively for fertility treatments, rise in ovulation disorders, increasing prevalence of endometrial and ovarian cancer, increasing consumption of unhealthy diet and sedentary lifestyle. On the contrary, factors such as soaring price of ART procedure, presence of ethical and social concerns, lack of professionals and lack of rules for physicians leading to birth defect risk and lower success rates may hinder the growth of assisted reproductive technology market.
Market Segmentation
Market Research Future report offers a comprehensive segmental analysis of the assisted reproductive technology market on the basis of diagnosis, type and end-user.
Based on diagnosis, it is segmented into genetic testing, ovarian reserve testing, hysterosalpingography, ovulation testing and other imaging tests and hormone testing.
Based on type, the assisted reproductive technology market is segmented into Surrogacy, Preimplantation Genetic Diagnosis (PGD), Intracytoplasmic Sperm Injection (ICSI), Gamete Intrafallopian Transfer (GIFT), In-Vitro Fertilization (IVF), Donor Conception, Artificial Insemination (AI) and Ovulation Induction (OI). Of these, the IVF segment will have the largest share in the market during the forecast period.
Based on end-user, it is segmented into IVF Centers, feminist health centers, gynecology centers, diagnostic centers, ambulatory surgical centers, hospitals and clinics. Of these, clinics will dominate the market during the forecast period.
Regional Analysis
Based on region, the assisted reproductive technology market covers growth opportunities and latest trends across the Americas, Europe, Asia Pacific and the Middle East and Africa. Of these, Europe will remain at the vanguard in assisted reproductive technology market due to growing healthcare expenditure and rising prevalence of obesity. The assisted reproductive technology market in the Americas will hold the second major share owing to the rising incidences of ovarian cancer here. In the APAC region, the assisted reproductive technology market is expected to grow at the fastest pace owing to a couple of factors namely increasing incidences of diabetes especially in women, growing obesity amid the female generation and changing lifestyle. On the other hand, the assisted reproductive technology market in the Middle East and Africa will account for a minimal share during the forecast period owing to low per capita income coupled with stringent government policies.
Key Players
Leading players profiled in the assisted reproductive technology market include Hamilton Throne Ltd, Irvine Scientific, European Sperm Bank, Ferring Pharmaceuticals, Cooper Surgical, Inc, Merck KGaA, Microm Ltd., Origio, Anecova, OvaScience, Parallabs, Cryolab Ltd., Bloom IVF Centre, California Cryobank and California Cryobank.
Feb 2019- Renowned science technology company, Merck has lately introduced its pioneering fertility technology. It has launched two devices- Gems, and Geri and Gavi which will be made accessible in hospitals and IVF clinics in partnership with GeneaBiomedx. This latest technology will offer an environment which will help to decrease external stress on a patient’s embryo that is undergoing fertility treatment. The cutting-edge technology promises to increase precision, optimize IVF results for patients and decrease manual labor.
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