Global Fertility Services Market is expected to register a CAGR of 10.02% during the forecast period and hit USD 93.92 billion by 2032.
The global fertility services market is experiencing significant growth, driven by increasing infertility rates and advancements in assisted reproductive technologies. As couples face challenges in conceiving naturally, the demand for fertility services, including infertility treatments and in vitro fertilization (IVF), has surged in recent years.
Infertility treatments encompass a range of medical interventions designed to help individuals or couples achieve pregnancy when conventional methods fail. These treatments address various causes of infertility, such as hormonal imbalances, structural issues, or reproductive system disorders. The rising prevalence of infertility due to factors like lifestyle changes, delayed childbearing, and environmental influences has fueled the expansion of the fertility services market.
In vitro fertilization (IVF) is a prominent and widely adopted assisted reproductive technology. It involves the fertilization of an egg by sperm outside the body, typically in a laboratory dish, before transferring the embryo to the uterus. IVF has proven successful in overcoming various fertility challenges, making it a sought-after solution for those struggling to conceive naturally. Technological advancements, such as preimplantation genetic testing and embryo cryopreservation, have further enhanced the effectiveness of IVF procedures.
The market for fertility services is dynamic, with an increasing number of fertility clinics, healthcare providers, and specialized facilities catering to the growing demand. The key players in the industry continuously innovate to improve success rates, reduce treatment costs, and enhance overall patient experience.
As the global fertility services market evolves, addressing the emotional and psychological aspects of infertility has become integral to patient care. Support services, counseling, and holistic approaches are increasingly integrated into fertility treatment programs, recognizing the importance of emotional well-being during the challenging journey to parenthood.
Major Key Players:
MRFR recognizes the Fertility Services Companies are— Merck KGaA, Cook Medical, Irvine Scientific Company Inc., Copper Surgical, Kitazato Cooperation, Vitrolife, Ferring B. V, Invo Bioscience, Monash IVF Group, and Care Fertility.
Segment Analysis
The fertility services market is divided into several segments such as:
By product: The market is segmented into Ovulation Predictor Kits, Fertility Monitors, and Male Fertility Testing Products based on product. The Ovulation Predictor Kits category will lead the fertility test market. The strong desire for these kits and the rising median age of first-time pregnancies in women can all be linked to their low cost and great efficacy.
By application: The market is divided into two categories: Female Fertility Testing and Male Fertility Testing. Female fertility testing is predicted to take up a higher portion of the fertility test industry. Factors such as declining female fertility rates, the availability of a wide range of fertility testing choices, and the high cost of IVF operations can all be blamed for the big percentage.
By end-user: The market is segmented into Home Care Settings, Hospitals, Fertility Clinics, and Others. The fertility test market is likely to be dominated by the sector of home care settings. The substantial share can be linked to the fall in women's and men's reproduction rates, the growing necessity for continuous monitoring of health issues, and the growing demand for home and remote monitoring.
Recent Developments:
October 2023: Ovum Health, a provider of fertility treatments, partnered with IBM Watson to provide easier appointment scheduling and data retrieval. Alice Crisci, a healthcare activist, cancer survivor, mother, and founder of MedAnswers and its telemedicine spinoff, Ovum Health, is working to expand access to digital services that support families before, during, and after pregnancy. Ovum Health reported that IBM Ecosystem and IBM Watson Assistant were used since they were in need of an AI solution to help develop their digital offering. Ovum Health and IBM Watson have teamed up to create a global digital service (named FertilityAnswer Bot) that makes use of both companies' technologies. In addition, IBM will assist Ovum Health in calculating the financial benefits of using IBM's AI in their goods and services.
September 2023: Rightway, a platform for healthcare navigation and pharmacy benefits, and Kindbody, a hybrid fertility and reproductive care firm, are collaborating to provide family-building and reproductive healthcare benefits to employers. Kindbody provides virtual and in-person services such as contraception, fertility testing, gynecological care, egg freezing, and virtual wellness and coaching. Rightway's business healthcare platform assists employees in understanding and utilizing their health benefits. Within their plan, users may view prices and care alternatives. In addition, the organization serves as a pharmaceutical benefits manager. Kindbody will be included in Rightway's ecosystem partnership program, giving employees access to the reproductive care company's solutions. Rightway's collaboration with Kindbody expands our employer customers' capacity to deliver comprehensive and inexpensive family-building services to employees and their families.
Regional Analysis
By region, the fertility services market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, the Americas, and the Middle East and Africa (MEA), Of these, Europe will spearhead the market during the forecast period for the significant increase in IVF, delayed marriages, low fertility rate, reimbursement policies, and state funds.
The Americas will have the second-largest share in the market over the forecast period on account of the presence of a developed healthcare system, advanced technologies, and growing incidence of hormonal imbalance in women due to obesity.
The Asia Pacific region is projected to grow at the fastest pace over the forecast period on account of the adoption of sophisticated technologies, favorable reimbursement policies, gynecological conditions, and changing lifestyle conditions.
The fertility services market in the Middle East and Africa is predicted to have a slow growth over the forecast period chiefly for the scarcity of advanced medical facilities, fewer investments in the healthcare industry, cultural and religious factors, scarcity in skilled medical professionals, and lack of awareness.
Browse Related Reports:
Patient Monitoring Devices Market
Veterinary Pain Management Market
For More Information, Please Visit @ Market Research Future
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek