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The Assisted Reproductive Technology Market size is estimated to grow by USD 8,232.63 million at a CAGR of 5.79% between 2022 and 2027.
One of the key factors driving the global assisted reproductive technology market growth is the increase in the rate of infertility and obesity-related cases. Factors such as advanced maternal age, hormonal disorders, lifestyle choices, genetic factors, and infections are significantly contributing to the rise in infertility rate which, in turn, will fuel the demand for global assisted reproductive technology. Hence, such factors are expected to positively impact the market growth during the forecast period.
Technavio has segmented the market into Application, Type, and Geography
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There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the global Assisted Reproductive Technology (ART) Market growth is the increase in awareness of ART. Some of the key factors which are fuelling the growth of the global assistive technology market include changing societal perspectives, growing infertility rates, and advancements in ART techniques.
Hence, due to the increase in awareness about the benefits of assistive reproductive technology, helped to remove the remove barriers and reduce social stigma, thereby increasing the accessibility to fertility treatments. Thus, such factors are expected to drive the global assistive reproductive technology market growth during the forecast period.
A key factor shaping the global Assisted Reproductive Technology Market growth is the increasing number of single-parent families. There has been a significant increase in the number of single women using fertility clinics across the world. Factors such as social acceptance and an increase in the number of divorces in developed countries such as the US are leading to more single-parent families.
Several initiatives such as counseling provided to overcome hurdles such as finance, stress, and time management have helped single parents to access health insurance. Hence, a rise in the number of people willing to start a single-parent family can fuel a significant rise in the number of ART procedures to have a child, thereby driving the global assistive reproductive technology market growth during the forecast period.
Side effects of infertility treatment are one of the key challenges hindering the global assistive reproductive technology market growth. There has been a growing concern regarding the use of assisted reproductive technology due to its several sides affect on the general health of patients.
Some of the side effects of women who undergo vitro fertilization and related treatments include stress, complications, and multiple pregnancies. Also, these treatments can lead to side effects such as nausea or vomiting, shortness of breath, and severe stomach pains post the IVF procedure. Hence, these side effects can significantly hinder the assistive reproductive technology market growth during the forecast period.
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The fertility clinics segment holds the largest assisted reproductive technology market share.
The fertility clinics segment shows a gradual increase in the market share of USD 13,413.23 million in 2017 and continued to grow by 2021. Factors such as the rise in the number of fertility centers to meet unmet and the increasing number of fertility patients are significantly fuelling the growth of the fertility clinics segment in the global assisted reproductive technology market. Hence, the success of such fertility clinics is expected to drive the growth of this segment which, in turn, will drive the growth of the global assisted reproductive technology market during the forecast period.
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IVF is a medical procedure that consists of fertilizing eggs with sperm outside the body in a laboratory. The fertilized embryos are then sent back into the uterus to establish a pregnancy. Factors such as increasing awareness and acceptance of ART, advancements in technology and laboratory techniques, and a growing trend of delaying parenthood among couples are fuelling the growth of this segment which in turn drives the global assisted reproductive technology market growth.
Artificial insemination comprises the introduction of sperm into a woman's reproductive tract using various methods which are used to treat infertility or for other purposes, such as donor insemination. Factors such as increasing infertility rates, advancements in ART techniques, rising awareness and acceptance of ART procedures, and the growing trend of delayed pregnancies due to lifestyle choices are fuelling the growth of this segment which, in turn, drives the global assisted reproductive technology market growth.
Europe is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.
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One of the major factors driving the global assisted reproductive market growth in Europe is the growing elderly population that is likely to face the problem of infertility due to declining egg quality among women, making it difficult for couples to conceive. Some of the major countries in Europe which significantly contribute to the market growth in the year 2022 include Italy, the UK, Germany, France, and Spain. As women are opting for advanced infertility treatments, it is expected to generate massive opportunities for end-users, such as hospitals and fertility clinics. Even though there is a high demand for fertility clinics in the region, some of the major issues faced by end-users in the region are the high cost of treatment and stringent regulations governing the fertility services offered by hospitals and fertility clinics. Hence, factors such as favorable reimbursement scenarios and the availability of advanced ART techniques are expected to drive the global assisted reproductive technology market in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global assistive reproductive technology market witnessed a significant slowdown due to a reduced focus on non-urgent disorders, thereby hindering the ART market in the region. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of regular clinical visits and treatment procedures such as treatment of reproduction-related disorders at total capacity, resulting in increased ART usage. Such factors are expected to drive the market during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Cook Group Inc: The company offers assisted reproductive technology services through products such as MNC Benchtop incubator.
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Assisted Reproductive Technology Market Customer Landscape
The assisted reproductive technology market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Assisted Reproductive Technology Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.79% |
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Market growth 2023-2027 |
USD 8,232.63 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.37 |
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Regional analysis |
Europe, North America, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
Europe at 32% |
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Key countries |
US, UK, Germany, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Cook Group Inc., CRITEX GmbH, Cryolab Ltd., Esco Micro Pte. Ltd., Ferring BV, FUJIFILM Holdings Corp., Hamilton Thorne Ltd., IMV Technologies, Instituto Bernabeu SL, INVO Bioscience Inc., KITAZATO Corp., Merck KGaA, Monash IVF Group Ltd., Pantec Engineering AG, Smiths Group Plc, The Cooper Companies Inc., Virtus Health, Vitrolife AB, XiltriX International, and Genea Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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