Fertility services comprise of various procedures used for treating fertility and genetic issues and help with conception. Services such as frozen embryo replacement (FER), in-vitro fertilization (IVF), artificial insemination, and infertility drugs help infertile couples, the LGBT community, and single parents to procreate and begin a family. These services help in conceiving as well as offer a safe and better alternative to surrogacy.
The Global Fertility Services Market Size is predicted to grow at an 8.50% CAGR between 2018-2023, states the latest Market Research Future (MRFR) report.
Various factors are propelling the fertility services market growth. Some of these factors, according to the Market Research Future report, include increasing incidence of different medical ailments such as sexually transmitted diseases (STDs), polycystic ovarian syndrome (PCOS), and endometrium tuberculosis which may cause infertility, lack of financial stability, expanding career-oriented population base, and increase in marketing and advertising of medical facilities for promoting artificial reproduction. Additional factors pushing market growth include health insurance portability, an increase in disposable income, easy availability of advanced medical technologies in IVF devices, an increase in infertility rates, and an increase in the prevalence of delayed pregnancies.
On the flip side, low awareness levels, reimbursement issues associated with fresh IVF cycles, and high costs of fertility services are factors that are likely to deter the fertility services market growth over the forecast period.
Notable players profiled in the fertility services market report include Vitrolife (US), Ferring Pharmaceuticals Inc. (US), CARE Fertility Group Limited (UK), CooperSurgical Inc (US), Irvine Scientific (US), Cook Medical (US), and Merck KGaA (Germany). Key players have incorporated several strategies to suffice the needs of the customers and stay ahead in the competition. These strategies include partnerships, collaborations, joint ventures, recent developments, mergers and acquisitions, and innovations.
November 2019: American Hospital Dubai has recently entered into a partnership with the largest provider of IVC, Livio AB, with an aim to facilitate the creation of an IVF center that offers the finest possible pregnancy outcomes in the Middle East.
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The MRFR report offers a wide segmental analysis of the fertility services market on the basis of underlying cause and treatment.
Based on the underlying cause, the fertility services market is segmented into female and male infertility. Of these, the female infertility segment will dominate the market over the forecast period on account of endometrial tuberculosis, elapsed age of motherhood, the prevalence of obesity, and other forms of medical conditions.
Based on treatment, the fertility services market has been segmented into infertility drugs and assistive reproductive technology (ART). The assistive reproductive technology segment has been again segmented into frozen embryo replacement (FER), in-vitro fertilization (IVF), artificial insemination, and others. Of these, the ART segment will lead the market over the forecast period on account of its high success ratio, high adoption of this treatment, expendable incomes of patients, and easy availability of reimbursement policies covering such options.
By region, the fertility services market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, the Americas, and the Middle East and Africa (MEA), Of these, Europe will spearhead the market during the forecast period for the significant increase in IVF, delayed marriages, low fertility rate, reimbursement policies, and state funds.
The Americas will have the second-largest share in the market over the forecast period on account of the presence of a developed healthcare system, advanced technologies, and growing incidence of hormonal imbalance in women due to obesity.
The Asia Pacific region is projected to grow at the fastest pace over the forecast period on account of the adoption of sophisticated technologies, favorable reimbursement policies, gynecological conditions, and changing lifestyle conditions.
The fertility services market in the Middle East and Africa is predicted to have a slow growth over the forecast period chiefly for the scarcity of advanced medical facilities, fewer investments in the healthcare industry, cultural and religious factors, scarcity in skilled medical professionals, and lack of awareness.