Assisted Reproductive Technology Market - Technological Advancement Facilitating Market Growth : Include Covid-19 impact Analysis

The global Assisted Reproductive Technology (ART) market size was valued at USD 21.9 billion in 2016 and is expected to reach USD 36.7 billion in 2025, growing at a CAGR of over 6% over the forecast period. Prevalence of infertility cases caused by lifestyle induced disorders such as obesity and stress is expected to drive the market over the forecast period. Increase in the number of smokers is also anticipated to increase the patient base.

Introduction of enhanced technologies for upgrading the outcomes are also expected to increase the market growth over the forecast period. For instance, in August 2015, a treatment method developed by Ovascience’s named as AUGMENT was reported to rejuvenate the eggs of aging women’s and benefit the poor quality eggs. Another technology named as Vitrification allows direct freezing of gametes with the application of liquid nitrogen and hence, are responsible for increased demand for frozen eggs for further application.

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According to the WHO, the rate of fertility per woman has reduced from five in 1960 to 2.5 in 2012. The declining rates of fertility and increasing stress levels are causing physiological problems which have induced a demand for ART procedures, hence, escalating the market growth.

Furthermore, encouraging government and various private organization’s policies for the application of technology is also aiding to the market growth over the forecast period. For instance, multinational companies like Facebook and Apple offer perks to women employees for facilitating the storage of their eggs in order to decrease attrition rate since October 2014. This has enables career oriented women to maintain work-life balance thereby attributing to market growth. Government agencies such as The American Society for Reproductive Medicine (ASRM) has also removed the tag “experimental” from the egg freezing procedure which is expected to draw more customers for the technology, eventually accelerating the growth of segment. Online portals have been created by various industries to share information pertaining to various assisted reproductive procedures contributing to the number of customers of the ART market.

Based on the technology devised for assisted reproductive health, the market is segmented into in vitro fertilization, artificial insemination, surrogacy and others. Further, vitro fertilization is divided into intra-cytoplasmic sperm injection (ICSI), and preimplantation genetic diagnosis (PGD). The technique artificial insemination is further segmented into intrauterine insemination (IUI) and intracervical insemination (ICI). In-vitro fertilization held the major share in terms of revenue is conducted by utilizing fresh sperm/egg to improve success rates. However, this method was reported to lead to multiple births at times and hence, was rendered disadvantageous. Also, Intracytoplasmic Sperm Injection (ICSI) was introduced for male infertility, wherein single potent sperm is injected into the egg aiding to bring forth more customers thereby leading to market growth.

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In terms of procedure, the market is further bifurcated into Frozen Donor, Frozen Non Donor, Fresh Donor, Fresh Non Donor and Embryo Banking. Fresh non donor method is considered as the most advantageous method, since the procedure is relatively less invasive, less expensive and the recipient does not have to go through drug stimulation process. Furthermore, various reimbursement policies have encouraged people to store or donate their gametes. The IVF refund plan designed by Chicago’s Advanced Fertility Center allows 100% refund up to four cycles with fresh embryos. On the basis of end user, assisted reproductive technology market has been segmented into fertility clinics, hospitals and others. The fertility clinics are the most dominating segment owing to the maximum infertility patients opting for the services in the ART market.

Geographically, the global assisted reproductive technology market has been categorized into five major regions and the key countries in the respective region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the major share in the industry owing to increasing prevalence of infertility cases, growing fertility related awareness levels and support of government agencies for in-vitro fertilization. The Europe region is expected to emerge as a leading revenue contributor over the forecast period owing to the rising demand for medical tourism and growing prevalence of infertility. The Asia Pacific assisted reproductive technology market is anticipated to follow European region and is expected to witness lucrative growth owing increasing number poof couples delaying parenthood due to professional commitments, improvement in living standards, and trends towards financial stability.

Major players in the assisted reproductive technology market include Esco Micro Pte. Ltd. (Esco Group), Hamilton Thorne, Inc, CooperSurgical, Laboratoire CCD, Irvine Scientific, Vitrolife AB, Merck KGaA, Nidacon International AB, Nikon Corporation and IncPlaner PLC.

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