According to Fact.MR, the size of the global assisted reproductive technology market, projected to be US$ 24.91 billion in 2022, is anticipated to grow at a CAGR of 6% during the forecast period. By 2032, it is predicted that the assisted reproductive technology market is expected to be worth US$ 44.61 billion.
As society accepts assisted reproductive technology more frequently as a result of the adoption of more advanced technologies, such as time-lapse embryo imaging, pre-implantation genetic testing, magnetically activated cell sorting, and endometrial receptivity analysis testing, it is anticipated that the demand for assisted reproductive technology treatments may rise.
After the pandemic, telemedicine use in the assisted reproductive technology sector and technological advancement are expected to drive market growth. The use of telehealth in assisted reproductive technology therapies is still in its infancy. Due to advantages like continuous administration and remote monitoring, it has enormous future potential.
The main driver behind the adoption of assisted reproductive technology is the prevalence of infertility brought on by stressful lifestyles and other conditions. As a result of the rise in infertility, it is anticipated that the market for assisted reproductive technologies to expand over time. The aforementioned factors likely result in increased demand for assisted reproductive technology in the future.
The assisted reproductive technology market is expected to grow significantly as a result of various factors, including the growing number of single-parent families, greater acceptance of same-sex relationships, and others. Combining assisted reproductive technology and ovulation induction may result in noticeably higher multifetal pregnancies. It is essential to achieve a singleton gestation because multifetal pregnancy and the consequences that go along with it pose a significant risk to assisted reproductive technology along with ovulation induction.
- Based on type, the assisted reproductive technology market’s IVF segment had the highest market share of 93%.
- The end-user segment for fertility clinics and other facilities, which accounted for the largest share of 80% of the total revenue, dominated the assisted reproductive technology market.
- With a 38% revenue share, Europe controlled the assisted reproductive technology market.
- A market share of 20% for assisted reproductive technology is expected to be accounted for by the end-use segment for hospitals and other settings.
- A healthy CAGR and a market share of 7% for assisted reproductive technology are predicted for the artificial insemination market segment.
- It is anticipated that North America to grow significantly. The increase, which is to produce a CAGR of 4.8% between 2022 and 2032, can be attributed to the excellent results that patients receiving treatment have reported.
Major corporations are putting in place a range of strategies, including new launches, R&D spending, and product portfolio expansion, to increase their assisted reproductive technology market share.
- With the launch of HavenCryo in June 2022, Inception Fertility broadened its ecosystem. HavenCryo is a long-term storage solution for reproductive tissue and cryopreservation that offers fertility specialists and patients a unique experience. There are tools for assisted reproduction in it (ART).
- In March 2022, CK Birla Healthcare opened Birla Fertility in New Delhi, its top assisted reproductive technology clinic.
- In January 2021, CooperSurgical bought Embryo Options, a renowned supplier of cryo-storage software for fertility clinics. By giving them access to its online resources, which will inform them about specimens stored for upcoming ART treatment cycles, the Embryo Options platform will benefit patients.
- In December 2021, CooperCompanies successfully acquired Generate Life Sciences. The top supplier of donor sperm and eggs for infertility treatments worldwide is Generate Life Sciences. It is anticipated that the 1.6 billion USD deal will benefit CooperCompanies’ fertility services.
Assisted reproductive technology (ART) is a term used to describe a range of medical procedures used to help people who are unable to conceive a child naturally. ART is usually used for couples who have infertility issues, but it can also be used to help single men and women or same–sex couples who want to have children. ART includes a variety of procedures, such as in vitro fertilization, egg and sperm donation, surrogacy, and embryo transfer.