Market Overview:
A new report on the global fertility services market Share published by Market Research Future (MRFR), observes that this market could find growth at 8.50% CAGR.
Fertility services have seen rapid expansion in recent years as a result of late marriages, newer contraceptive techniques, and an increasing number of women choosing their jobs above establishing a kid, resulting in an increase in the median age of first-time parenthood.
The declining fertility rate, technological advancements in fertility treatments, growth in the median age of first-time motherhood, and rise in obesity, along with the consumption of alcohol/cigarettes, are all contributing to infertility. In terms of fertility treatment, increasing success rates associated with ICSI-IVF in cases of poor sperm motility are driving the global fertility services market. Furthermore, several significant market companies are interested in the development of innovative equipment for fertility treatments, which adds to the market's growth. Fertility services market growth is predicted to be driven by technological advancements in assisted reproductive technologies, increased knowledge about infertility treatment, and an increase in the number of fertility clinics throughout the forecast period.
Key Players
Prominent players in the global fertility services market include CARE Fertility Group Limited (UK), Cook Medical (USA), CooperSurgical Inc (USA), Ferring Pharmaceuticals Inc. (USA), Irvine Scientific (USA), Merck KGaA (Germany), and Vitrolife (USA).
However, the expensive expense of the operation, as well as rigorous surrogacy legislation in certain countries, are limiting the market's growth. The COVID-19 outbreak had a significant global impact. This epidemic has had a negative influence on the fertility testing market. In addition, for the next six months, most fertility clinics throughout the world have suspended accepting new cases of infertility treatment until the situation appears to be under control.
Market Segmentation
Global Fertility Services Market has been segmented based on underlying cause and treatment type.
Based on underlying cause, the market is bifurcated into male infertility and female infertility. The male infertility segment is expected to register the highest CAGR of 6.23% during the forecast period.
On the basis of treatment type, the market is bifurcated into infertility drugs and assisted reproductive technology (ART). The ART segment accounted for a larger market share with a value of USD 19.77 billion in 2019.
Regional Segmentation
Global Fertility Services Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Due to a reduced fertility rate, an increase in obesity cases, an increase in IVF tourism in Spain, and an increase in the median age of motherhood, Europe is predicted to command the highest market share.
The United States commanded a sizable portion of the global market. The high adoption rate for IVF treatment, late pregnancies, well-established healthcare systems, and diminishing fertility clinic marketing can all be blamed for this.
Due to changing lifestyle conditions, declining fertility rates, delay in pregnancy in women suffering from gynaecological conditions, and fertility disorders, followed by favourable reimbursement scenarios, and delayed parenthood opted by couples due to professional and financial constraints, Asia-Pacific is expected to command the third-largest share in the global market.
The Middle East and Africa fertility services market is predicted to increase steadily due to a well-developed healthcare sector and steadily dropping fertility rates.
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