Assisted Reproductive Technology (ART) Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Rising incidence of infertility across the globe is one of the major factors driving the assisted reproductive technology (ART) market. The method assists to conceive babies through various medical procedures such as cryopreservation of gametes or embryos, in-vitro fertilization, intracytoplasmic sperm injection (ICSI), and medications.
Another factor contributing to the expansion of assisted reproductive technology market is increase in the number of single mothers. Besides this, same-sex marriage is another prominent factor for rising adoption of assisted reproduction methods.
Increase in awareness about surrogacy and IVF is expected to boost assisted reproductive technology market in the course of forecast period.
An upcoming research report on assisted reproduction technology market provides detailed insights into growth trends and opportunities likely to come to the fore in the said market over the 2019-2029 forecast period. Demand drivers and challenges pertinent to the assisted reproduction technology market are examined to provide reliable analysis of the assisted reproduction technology market over the forecast period.
Changing lifestyle and environmental impact are today related to PCOS/PCOD that impacts reproductive performance of women. This is reducing the chances of conceivability. Hence, women are undergoing infertility treatment with the help of assisted reproductive technology.
In-vitro fertilization (IVF) technology is likely to hold dominance in assisted reproductive technology market when compared to other treatment methods including artificial insemination and surrogacy. Technological advancements and integration of various procedures in the gamut of assistive reproductive methods have awed the entire human race. Integration of preimplantaion genetic diagnosis (PGD) technology with the present implantation technology that helps doctors to screen embryos for any kind of inherited diseases is an example. This will improve the chance of conceiving a healthy fetus.
High procedural success rate along with constant advancement in assisted reproductive technology is likely to boost the assisted reproductive technology market in the course of forecast period. Insurance providers are covering assisted reproductive procedures. This is one of the major trends fuelling the assisted reproductive technology market.
Obesity and increasing stress level are increasingly becoming common factors for infertility. Government initiatives are aiming to provide better reimbursement policies, to provide better treatment plans. The initiative is projected to bring positive impact on the growth of assisted reproductive technology in the coming years.
Europe and North America are a few promising regions which are expected to contribute in the expansion of reproductive technology market. This is due to the increase in the number of infertility cases and technological advancements in the field of assisted reproductive technology.
Besides this, high awareness among individuals for various assisted reproduction procedures along with initiatives undertaken by governments to promote IVF and similar procedures are favorable for the growth of assistive reproductive technology market in these regions.
High disposable income is another plus that enables people to use novel technologies to conceive babies. This is one of the reasons resulting in growth of assisted reproductive technology market.
On the other hand, ethnic communities in several countries of Asia Pacific are increasingly ignoring social-ethical stigma associated with assistive reproductive procedures. The change is expected to boost assisted reproductive technology market in the region. Also, people are adopting assisted reproductive technology due to low treatment cost. Late family planning in the region is another contributing factor to the expansion of global assisted reproduction technology market.
Some of the prominent players in assisted reproductive technology are Bloom IVF Centre, Vitrolife, Nidacon International AB, Cooper Surgical Inc., and Ova Science Inc. Other players in the assisted reproductive technology market are FUJIFILM Irvine Scientific Inc., Ferring B.V., Microm Ltd, Laboratoire CCD, and Hamilton Thorne Inc.,
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