Zion Market Research has published a new report titled “Fertility Services Market by Procedure (Assisted Reproductive Technology (ART), In-Vitro Fertilization, Artificial Insemination, Surrogacy, and Others); by Service (Donor and Non-donor); and by End-User (Fertility Clinics, Hospitals, and Clinical Research Institutes): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2024”. According to the report, global fertility services market was valued at approximately USD 18,537 million in 2017 and is expected to generate revenue of around USD 34,240 million by end of 2024, growing at a CAGR of around 9.2% between 2018 and 2024.
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The service provided to cure infertility is referred to as fertility services. Fertility services involve various procedures, which are used to treat infertility problems and genetic issues in order to help out in conception. The introduction of fertility services such as assisted reproductive technology (ART) is expected to boost the growth of the market significantly during the forecast period. Fertility services help the infertile couples or single parents to conceive or to become parents. Rising rate of infertility in males and females will prominently boost the market growth during the forecast period. The global infertility rate among the couples is about 10%. The declining fertility rate and delay in pregnancy are significantly enhancing the demand for fertility services globally. Earlier in the 19th century, the average fertility rate was approximately 5 to 7 children per women, which have been declined to below 2.5 children per women in recent years. Transforming society and changing lifestyles have significantly decreased the rate of fertility rate, hence the fertility services market have a huge opportunity to grow during the forecast period.
The fertility services market is segmented on the basis of procedure, service, end-user, and by geography. Based on the procedure, the market is segmented into assisted reproductive technology (ART), in-vitro fertilization, artificial insemination, surrogacy, and others. The in-vitro fertilization segment is further sub-segmented as intracytoplasmic sperm injection (ICSI) and pre-implantation genetic diagnostics (PGD). The artificial insemination segment is again further segmented into intrauterine insemination, intracervical insemination, and others. The artificial insemination segment is estimated to register a high revenue share in the global fertility services market and is also expected to register significant growth over the coming years.
On the basis of services, the market is segmented into donor and non-donor. The donor segment is further sub-segmented into fresh donor and frozen donor. The non-donor segment is classified into fresh non-donor and frozen non-donor. The fresh non-donor segment accounted for the significant market share and is expected to register noteworthy growth over the forecast period. The market is driven by the higher success rate of procedure, enhanced embryo production, and ease in the implantation process, which contributes towards the high market share of segment in the global fertility services market. The frozen non-donor segment is anticipated to record the highest growth rate in the near future owing to the high demand for egg preservation which can be utilized in the long term.
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Fertility clinics, hospitals, and clinical research institutes are the major end-users in fertility services market. The fertility clinics and hospitals are expected to contribute a significant market share in global fertility services market. The fertility clinics segment is anticipated to record the highest CAGR owing to increasing awareness about fertility clinics coupled with better results.
North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa are key regional segments of global fertility services market. Europe and the Asia Pacific are projected to remain the leading regions over the forecast period. Rising prevalence of infertility in both males and females owing to genetical factors or changing lifestyles will boost the market growth during the forecast period. Moreover increased accessibility to fertility services, a high rate for in-vitro fertilization, and the rising trend of fertility tourism will significantly fuel the market over the forecast period.
Some of the key players in the fertility services market include CooperSurgical, Inc., Vitrolife, Care Fertility, Monash IVF, INVO Bioscience, Carolinas Fertility Institute, Fertility Focus Ltd., Apollo Hospitals Enterprise Ltd., Merck, LABOTECT GmbH, and Olympus Corporation.
Major players are often engaged in mergers & acquisitions to retain their market share and diversify their product portfolio. Also, key parameters affecting competition are rapid adoption of advanced options and rising need of optimum capital utilization.
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This report segments the global fertility services market as follows:
Global Fertility Services Market: Procedure Segment Analysis
- Assisted Reproductive Technology (ART)
- In-Vitro Fertilization
- Intracytoplasmic Sperm Injection (ICSI)
- Pre-implantation Genetic Diagnostics (PGD)
- Artificial Insemination
- Intrauterine Insemination,
- Intracervical Insemination
Global Fertility Services Market: Services Segment Analysis
Global Fertility Services Market: End-users Segment Analysis
- Fertility Clinics
- Clinical Research Institutes
Global Fertility Services Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa