Assisted Reproductive Technology Market Size, Report, 2023
Date: 2018-09-11   Author: Rahul Sankrityayan  Category: #industry

Assisted Reproductive Technology Market Size, Report, 2023

The Assisted Reproductive Technology (ART) Market will reach USD 31.4 billion by 2023 as per a new research report.

Rising infertility rates owing to changes in lifestyle, unhealthy dietary habits such as smoking and alcohol consumption is the major growth rendering factor. Increasing prevalence of obesity leading to ovulation infertility and hormonal imbalance should fuel global assisted reproductive technology (ART) market growth.

Increasing awareness about the diverse types of procedures such as IVF, ICSI, GIFT among the population base will stimulate global assisted reproductive technology (ART) market. Moreover, regulatory guidelines and standards set by American Society for Reproductive Medicine (ASRM) for the number of embryo transfer and improved healthcare infrastructure in developing countries should propel industry growth.

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Lack of advanced technologies and excessive cost of ART procedures used in the treatment of infertility are causing financial burden to the patients further impeding the assisted reproductive technology (ART) market growth over the forecast period.

Fresh donor assisted reproductive technology (ART) market was leading the industry and should grow above 5% CAGR over the forecasted timeframe. The ability of the fresh donor cells to produce viable embryos is expected to fuel the demand of this segment. Also, fresh nondonor eggs ART market will lead in terms of revenue due to their increased usage in In-vitro fertilization (IVF). Furthermore, frozen nondonor will witness robust growth in the future due to its cost-effective and minimally invasive procedure.

High infertility rate and developed healthcare facilities will drive the U.S. assisted reproductive technology market. Due to the rising inclination towards developing innovative technologies to treat infertility among women, the U.S. market will witness significant growth over the forecasted timeline.
Germany assisted reproductive technology market holds the largest regional revenue share owing to the regulatory guidelines and demographics followed by France which will witness significant growth due to the presence of considerable number of fertility clinics in the country.

China assisted reproductive technology market was leading with largest regional revenue owing to the increasing infertility rate due to unhealthy lifestyles. Further, India will manifest robust growth due to the presence of various regulatory centers such as National ART Registry of India (NARI) to aid infertility problems in the country.

Some of the major industry players are Irvine Scientific, Merck Serono, Genea Biomedx, IVFtech ApS, Thermo Fisher Scientific, Research Instruments, Origio, Smiths Medical, Vitro Life, Esco Micro, Incept Biosystems, Nanopoint, Cook Medical and Anecova.

Industry players are strengthening their market position by increasing their focus on research activities to develop innovative technologies to treat high prevalence of infertility worldwide. The companies are also resorting to collaboration and mergers to extend their existing portfolio and generate higher outcomes.

Key insights from the report include:

  • Global assisted reproductive technology market size generated revenue of USD 22.3 billion in 2015.
  • North America is driven by favorable reimbursement policies on advanced ART procedures and high infertility prevalence.
  • Asia Pacific is expected to witness lucrative growth over the forecast period due to increase in disposable income, increase in the health care infrastructure. APAC is led by Japan, China, India. Japan assisted reproductive technology market, accounting for more than 45% of sales revenue in 2015.
  • Increasing infertility prevalence is a key driver for Europe, led by UK, Germany, France, Italy and Spain. Germany reproductive technology market size was responsible for over 28% of regional sales in 2015, with more than 5% growth anticipated by 2023.
  • Brazil reproductive technology market share was USD 0.62 billion in 2015, which is set to continue being the fastest growing industry in LATAM.
  • Key industry players include Irvine Scientific, Origio a/s, Vitro Life, Esco Micro Pte. Ltd., IVFtech ApS, Cook Medical, Research Instruments, Genea Limited, Smiths Medical, Thermo Fisher Scientific, Inc. etc.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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