Fertility Services Market Size, Growth and Share Analysis By Underlying Cause (Female Infertility, Male Infertility), Treatment Type (ART (IVF, Frozen Embryo Replacement (FER), Artificial Insemination), Infertility Drugs, Others))) – Global Forecast Till 2023
Fertility Services Market Outlook
Global Fertility Services Market holds lot of potential and is projected to surge at a healthy growth rate of 8.5% during the assessment period (2018-2023), says Market Research Future (MRFR).
Fertility Services Market Drivers
The fertility services market will be witnessing considerable growth in the future on account of the rising incidence of infertility cases, coupled with the emerging trend of delayed pregnancies among women. Also, continuous technological advancements in the fertility procedures as well as increased occurrences of gamete donations will prove to be highly beneficial for the development of the market.
Additional factors that are promoting the lucrative growth of the fertility services market include the growing health awareness associated with fertility issues, increase in disposable income, easy availability of fertility treatments, along with favorable reimbursement policies across the globe.
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The latest innovations in IVF technology like capsule IVF and embryoscope are bound to create vigorous demand for the fertility devices in the coming years. In contrast, strenuous maintenance issues can slow down the market growth to some extent. But with the upsurge of fertility clinics combined with the increase in the same sex marriages, the market will be positively influenced owing to numerous lucrative growth opportunities coming its way soon.
Fertility Services Market Opportunities
In the wake of rising cases of prostate cancer around the world, the fertility services market will profit to a large extent as this key trend is catching on quite rapidly. A growing number of men are getting affected by prostate cancer, which is one of the most common types of cancers; wherein this factor can have an indirect positive effect on the growth of the market. To elaborate, this cancer can be treated by removing the prostate gland, which results in the declining fertility among men as well as impaired sexual function.
Fertility Services Market Segmentation
The market for fertility services is segmented on the basis of underlying cause, and treatment type.
The underlying causes of fertility issues are segmented into male infertility and female infertility. Out of these, the female infertility segment managed to claim almost 54% of the overall market and is projected to surge at the highest CAGR. This growth has been possible due to the increasing obesity rates, advent of various lifestyle-related health problems and the increase in late family planning.
The types of treatment part of the global fertility services market are assisted reproductive technology (ART), and infertility drugs. Among these, ART has established itself as the dominating segment, accounting for over 76% of the market share in 2017. Accelerated demand for IVF treatments is the primary reason behind the strong growth of the segment.
Fertility Services Market Regional Insight
The primary geographies for the global fertility services market mentioned in the report are Asia Pacific, Europe, the Americas, as well as the Middle East and Africa.
Europe wins the race among all the regions with the substantial share of 34.6% in the global market. Securing the top position, the market in Europe is surging at a promising CAGR of 8.50% during the review period. The regional market fares extremely well on account of the low fertility rate in the region and the rising trend of delayed family planning. Owing to this factor, favorable reimbursement policies are striving to encourage the demand for fertility services, leading to the well-established status of the market in the region.
The Americas, on the other hand, enjoys the second spot in the global fertility services market, with the second largest share. The region is known for its well-developed healthcare system, which further benefits from the growing adoption of advanced technologies, thereby fueling the demand for fertility services. In addition, the rising obesity rates in the United States (U.S) has resulted in the decrease in the fertility rates, which subsequently leads the women to the use of fertility services. This prominent factor will lead to the promising market growth in the region in the coming years.
Furthermore, the Asia Pacific region is exhibited to showcase an attractive growth pattern, surging at the fastest growth rate during the review period. Growing urbanization is leading to evolving lifestyles, followed by the emergence of increased fertility issues among women and men. Increasingly favorable reimbursement policies paired with the growing adoption of sophisticated technology will elevate the market position, especially in the economies such as India and Japan.
Last but not the least, growing focus on higher education and career along with rapid urbanization will result in the expansion of the fertility services market in the region of Middle East and Africa. Moreover, expanding health industry backed by rapid advancements in technology will bring fruitful results in the regional market as well. For instance, the Dubai Health Authority is all set to open a new gynecology and fertility center, with the predictions of the operations starting in 2020.
Fertility Services Market Leading Players
The leading players contending for the top spot in the global fertility services market are Ferring Pharmaceuticals, Merck KGaA, CooperSurgical, CARE Fertility Group Limited, Vitrolife, Irvine Scientific Sales Company, Inc., Cook Medical, among others.
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