Assisted Reproductive Technology (ART) Market size to grow by USD 8.23 billion from 2022 to 2027, Europe to account for 32% of market growth - Technavio
NEW YORK, Jan. 8, 2024 /PRNewswire/ -- The Assisted Reproductive Technology (ART) Market is expected to grow by USD 8.23 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 5.79% during the forecast period, according to Technavio Research. The market is segmented by application (fertility clinics, hospitals, and others), type (IVF and artificial insemination), and geography (Europe, North America, Asia, and the Rest of the World (ROW)). Europe is estimated to contribute 32% to the growth of the global market during the forecast period. The growth is due to the increasing elderly population facing infertility issues due to declining egg quality, impacting couples' ability to conceive. The largest contributors to the regional market are Italy, the UK, Germany, France, and Spain.
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Company Profile:
Cook Group Inc., CRITEX GmbH, Cryolab Ltd., Esco Micro Pte. Ltd., Ferring BV, FUJIFILM Holdings Corp., Hamilton Thorne Ltd., IMV Technologies, Instituto Bernabeu SL, INVO Bioscience Inc., KITAZATO Corp., Merck KGaA, Monash IVF Group Ltd., Pantec Engineering AG, Smiths Group Plc, The Cooper Companies Inc., Virtus Health, Vitrolife AB, XiltriX International, and Genea Ltd.
Cook Group Inc. - The company offers assisted reproductive technology services through products such as the MNC Benchtop incubator.
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Assisted Reproductive Technology (ART) Market: Segmentation Analysis
The fertility clinics segment is estimated to witness significant growth during the forecast period. The significant rise in infertility clinic success rates worldwide is a major element that will impact the influx of patients seeking infertility treatment.
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Assisted Reproductive Technology (ART) Market: Driver & Trend:
Key Driver - The Assisted Reproductive Technology (ART) Market is growing due to rising infertility rates and obesity-linked cases. This rise boosts the demand for various procedures like In Vitro Fertilization (IVF), Gamete Intrafallopian Transfer (GIFT), Intracytoplasmic Sperm Injection (ICSI), Artificial Insemination, Embryo Transfer, Preimplantation Genetic Testing (PGT), Intrauterine Insemination (IUI), Cryopreservation, Ovulation Induction, Reproductive Endocrinology, Ovarian Stimulation, and Male Infertility Treatments. These advancements cater to the expanding needs of individuals seeking fertility solutions, amplifying the Assisted Reproductive Technology (ART) Market's growth trajectory.
Leading Trend - An emerging trend in the Assisted Reproductive Technology (ART) Market is the increase in the number of single-parent families, driving demand for services like Egg Freezing, Sperm Freezing, Donor Egg, Donor Sperm, Oocyte Retrieval, Blastocyst Transfer, Reproductive Surgery, Embryo Cryopreservation, and Fertility Preservation. This trend highlights a societal shift, with more individuals opting for these Assisted Reproductive Technology procedures to achieve parenthood independently, thereby influencing the market landscape and necessitating a wider spectrum of specialized reproductive services.
Significant Challenges - The Assisted Reproductive Technology (ART) Market faces the challenge of mitigating side effects linked to infertility treatments like Surrogacy, Fertility Drugs, Assisted Hatching, In Vitro Maturation (IVM), Assisted Reproductive Medicine (ARM), Fertility Clinics, Artificial Reproductive Techniques, Reproductive Immunology, Embryology, and Fertility Assessment. Managing and reducing the adverse impacts of these procedures is a significant hurdle, demanding continuous research and innovation to enhance treatment efficacy while minimizing potential risks for individuals seeking fertility solutions.
The increasing number of single-parent families is a primary trend shaping market growth. Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.
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What are the key data covered in this Assisted Reproductive Technology (ART) Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Assisted Reproductive Technology (ART) Market between 2022 and 2027.
- Precise estimation of the Assisted Reproductive Technology (ART) Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Assisted Reproductive Technology (ART) Market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of Assisted Reproductive Technology (ART) Market companies.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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