Global Assisted Reproductive Technology Market 2017-2021
Overview of the assisted reproductive technology market
Extensive research carried out by the analysts at Technavio has shown that the global assisted reproductive technology will witness steady growth and will post a CAGR of over 4% during the forecast period. A significant increase in the income levels of consumers around the world is one of the primary factors driving the growth prospects for the assisted reproductive technology market over the coming years. The disposable income is increasing globally, especially at a fast rate in developing countries such as India, China, Brazil, Malaysia, and Vietnam. Similarly, the developed countries such as the US has witnessed a sharp rise in disposable income of people. This significant development has enabled men and women who are not able to conceive to undergo fertility treatments using assisted reproductive technology to boost the chances of having children.
According to this market research report, with the increasing acceptance of same-sex marriages, the market for assisted reproductive technology is anticipated to have a positive outlook in the coming years. Social and legal acceptance of same-sex marriages has also led to a rise in sperm donations and the use of fertility services. For instance, according to a research by the Williams Institute, in the US, an estimated six million children in the country had same-sex couples as parents. Moreover, the use of donor sperm for same-sex female couples increased from 15% before the legalization of same-sex marriages to 20% after the legalization of the same.
Competitive landscape and key vendors
The global assisted reproductive technology market is highly fragmented with the presence of several global and regional vendors. The vendors in the market undergo consolidation and industrialization to enhance their presence in the market. They also undergo M&A which helps them extend their product portfolio and expand their geographical presence. The advances in technology and product upgrade will increase the competition among the vendors.
Key vendors in this market are -
- Ferring Pharmaceuticals
- Irvine Scientific
- Cook Medical
Other prominent vendors in the market include CellCura, EMD Serono, Esco Micro, IKS International (Gonagen Medikal), INVO Bioscience, IVFtech, CRITEX (MedITEX), Pantec Biosolutions, Research Instruments, and Smiths Medical.
Segmentation by application and analysis of the assisted reproductive technology market
- Fertility clinics
During 2016, the fertility clinics segment led the global assisted reproductive technology market and will continue to lead the market in the coming years. To meet the increased demand for or ART procedures from infertile individuals, there has been a worldwide increase in the number of fertility centers. One of the major factors driving this segment’s growth is the high and increase in success rate of the fertility clinics globally.
Geographical segmentation and analysis of the assisted reproductive technology market
In terms of geographical regions, the EMEA was the highest revenue contributing region in the global assisted reproductive technology market during 2016. The growth of this market in EMEA is attributed to a growing elderly population in the region that is likely to face the problem of infertility due to declining egg quality among women, making it difficult for couples to conceive.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global assisted reproductive technology market?
- What are the key market trends impacting the growth of the global assisted reproductive technology market?
- What are the challenges to market growth?
- Who are the key vendors in the global assisted reproductive technology market?
- What are the market opportunities and threats faced by the vendors in the global assisted reproductive technology market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global assisted reproductive technology market?
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