Surrogacy Market Size And Forecast
Surrogacy Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.
A woman (the gestational carrier) chooses to carry a child for the benefit of another person or people who will eventually become the child’s parent(s) under the terms of a legal agreement known as surrogacy. The market is anticipated to grow faster than projected during the anticipated period due to rising infertility issues, higher acceptance of surrogacy treatment, and recent technological advancements. The market is comprehensively evaluated in the study on the Global Surrogacy Market. The Global Surrogacy Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Surrogacy Market Definition
Surrogacy is an assisted reproduction procedure in which the intended parents collaborate with a surrogate who carries the baby until birth. The major reasons for surrogacy include the lack of the uterus, or uterine defects, either hereditary or acquired (e.g., a hysterectomy for an oncological ailment), recurrent in vitro fertilization (IVF) failures, medical problems for which pregnancy is contraindicated (e.g., severe thrombophilia, antiphospholipid syndrome, end-stage renal diseases, or vasculitis), single males, and same-sex person (Machtinger et al., 2017). Traditional and gestational surrogacy are the two types of assisted reproductive procedures utilized in surrogacy.
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Using traditional technology, a surrogate’s eggs are used, making her the biological mother of the child. The surrogate, like the gestational carrier, has no biological connection to the baby. Surrogates who participate in altruistic surrogacy do not get any financial compensation, as most of these arrangements involve close relatives of the family members. The industry includes both charitable and commercial activities. Furthermore, most governments throughout the world have restrictions on commercial practices.
Global Surrogacy Market Overview
The growing public awareness of infertility issues, rising numbers of cases, the evolving trend of delayed pregnancies, an increase in scientific advancements in fertility procedures, and an increase in the rate of gamete contributions are all contributing to the anticipated growth of the Global Surrogacy Market. In addition, rising fertility awareness, accessibility to fertility treatments, rising disposable income, and supportive reimbursement policies are the key factors driving market expansion. Additionally, the difficulty in conceiving due to polycystic ovarian syndrome in women is becoming more widely recognized, which increases demand for surrogate moms and, consequently, market expansion. However, rigorous laws and regulations as well as the expensive cost of the procedure are significant market growth inhibitors.
The increased likelihood of having several children when using a surrogate is one of the most dangerous aspects of the procedure. It is frequently advised to implant more than one egg at a time during IVF in the hopes that at least one may “stick” and develop into a fetus. Comparatively speaking to pregnancies without IVF, this procedure results in a significantly increased number of multiple births. The growing issues in the Global Surrogacy Market aren’t really about surrogacy in general; rather, they’re about the need for greater regulation of a potentially highly harmful industry.
The American Society of Reproductive Medicine advises that surrogates receive rigorous screening of their mental, physical, and health history and complete counseling before and during the pregnancy about their freedom to make decisions about their bodies, among other topics. Additionally, it is advised that counseling be continued after delivery as a defense against postpartum depression and other mental health problems.
Global Surrogacy Market: Segmentation Analysis
The Global Surrogacy Market is Segmented on the basis of Type, Technology, Age Group, And Geography.
Surrogacy Market, By Type
- Traditional Surrogacy
Based on Type, The market is bifurcated into Gestational and Traditional surrogacy. The Gestational segment is projected to rise the most during to forecasted period due to the presence of a large patient base, growing adoption, and scientific developments.
Surrogacy Market, By Technology
- In-Vitro Fertilization
- Intrauterine Insemination
Based on Technology, The market is bifurcated into In-Vitro Fertilization, Intrauterine Insemination, and Others. In In-Vitro Fertilization is expected to grow at the fastest rate during the forecasted period, owing to an increasing quantity of infertility cases, growing acceptance, and an increasing trend of women having a child at a later stage.
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Surrogacy Market, By Age Group
- Below 35 years
- 35-37 years
- 38-39 years
- 40-42 years
- 43-44 years
- Over 44 years
Based on Age Group, The market is bifurcated into Below 35 years, 35-37 years, 38-39 years, 40-42 years, 43-44 years, and Over 44 years. The 38-39 years segment is expected to grow at the fastest rate during the forecasted period, owing to the rising number of women experiencing fertility problems, and difficulty in getting pregnant.
Surrogacy Market, By Geography
- North America
- Asia Pacific
- Rest of the world
On the basis of Regional Analysis, The Global Surrogacy Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Global Cosmetic Implants Market in the Asia Pacific region is expected to increase the most compared to other regions during the projected period due to, cheaper surrogacy rates, the adoption of cloud computing, a rise in the adoption of surrogacy, and the availability of major key players in the region.
The “Global Surrogacy Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as New Hope Fertility Center (India), Ovation Fertility (US), IVI RMA Global (Spain), Extraordinary Conceptions (US), Clinic Scanfert (Russia), Care Fertility Group (UK), Bourn Hall Fertility Clinic (UAE), NOVA IVI Fertility (Spain), Houston Fertility Center (US).
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