The global assisted reproductive technology (ART) market size is projected to reach USD 45.06 billion by 2026. The market is set to gain impetus from the rising incidence of infertility backed by a rapidly changing lifestyle. This information is published in a recent study by Fortune Business Insights, titled, “Assisted Reproductive Technology (ART) Market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2019-2026.” The study further mentions that the market was valued at USD 21.32 billion in 2018. However, the market is set to exhibit a CAGR of 9.8% during the forecast period from 2019 to 2026.
Rising Incidence of Male & Female Infertility to Drive Growth
As per a report published by the National Survey of Family Growth (NSFG), in 2018, approximately 6.7% of women between the age group of 15 to 44 years in the U.S., were suffering from infertility. Countries, such as India, the U.K., U.S., and China are at present experiencing a rising incidence of infertility. A data published in the Oxford Journals revealed that in the U.K., 1 out of 10 men belonging to the age group of 16 to 74 years are affected by infertility. Hence, the increasing cases of infertility amongst the male population worldwide would fuel the ART market growth in the coming years.
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Key Segments of Assisted Reproductive Technologies Market
- Technique: The market is categorized into frozen embryo transfer (FET), artificial insemination (AI-IUI), in vitro fertilization (IVF), and others. Out of these, the IVF segment had dominated the market by acquiring 79.2% assisted reproductive technologies (ART) market share in 2018. Increasing technological advancement and rising procedural success rate are expected to propel the growth of this segment in the near future. FET, on the other hand, had held the second position owing to the increasing demand for high success rate and cost-effective nature.
- Procedure: The market is grouped into frozen non-donor, frozen donor, fresh non-donor, and fresh donor. Out of these, the fresh non-donor segment is expected to exhibit a high CAGR in the coming years owing to the rising success rate of procedures using fresh embryos or eggs. The frozen non-donor segment at present holds the second position on account of its low cost as compared to the cycles that utilize fresh embryos.
- End user: The fertility services market is fragmented into fertility clinics and hospitals. The fertility clinics segment will dominate the market in terms of ART market share. The growth is attributable to the availability of skilled doctors as well as rising number procedures. Also, in emerging countries, namely, India, Japan, and China, registered fertility clinics are increasing day by day. The hospitals segment had showcased a low share in 2018. It occurred mainly because of the lack of services and lower adoption of novel technologies.
- Geography: The market is divided into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Amongst them, Europe had acquired USD 8.78 billion assisted reproductive technologies market share in 2018. It is projected to remain in the leading position throughout the forecast period. The growth occurred because of the rising incidence of infertility in the European countries that, in turn, is increasing the demand for ART procedures. North America is set to experience a significant CAGR owing to the higher adoption of technologically advanced services and rising disposable income.
Key Players Focus on Offering Novel and Cost-effective Services
Some of the leading providers of fertility services are increasing their product and service portfolio to gain the maximum revenue. They are also striving persistently to keep up with the ART market trends by providing technologically advanced services that are cost-effective.
Fortune Business Insights lists out some of the prominent companies operating in the ART market. They are as follows:
- CARE Fertility
- Bloom IVF Centre
- Monash IVF Group
- California Cryobank
- Carolinas Fertility Institute
- INVO Bioscience
- European Sperm Bank
- Apollo Hospitals Enterprise Ltd.
- Other key market players
Monash IVF Group Acquired Fertility Solutions
- July 2019: Monash IVF Group acquired Fertility Solutions, a fertility services provider based in Queensland, Australia, with an aim to enhance its global presence and strengthen its position in ART market.
The global assisted reproductive technologies (ART) market can be segmented in the following manner:
Value (USD billion)
- In Vitro Fertilization (IVF)
- Artificial Insemination (AI-IUI)
- Frozen Embryo Transfer (FET)
- Fresh Donor
- Fresh Non-donor
- Frozen Donor
- Frozen Non-donor
By End User
- Fertility Clinics
- 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 the Middle East & Africa)