Assisted Reproductive Technology Market Size to Reach $ 12.2 Billion, Globally, by 2030 at 19.3% CAGR: Allied Market Research
Rising prevalence of infertility rate, technological advancements in assisted reproduction technologies, growth in disposable income, and awareness regarding infertility treatment are driving the growth of global assisted reproductive technologies market
PORTLAND, Ore., September 14, 2021 / PRNewswire / – Allied Market Research published a report titled “Assisted Reproductive Technologies Market by product (instrument, accessory and disposable, and reagent and medium), technology (in vitro fertilization, artificial insemination and others) and end user (fertility clinic, hospital, surgical center and clinical research institute): analysis of global opportunities and industry forecast, 2021–2030According to the report, the global assisted reproduction technology industry has generated $ 2.3 billion in 2020, and should generate $ 12.2 billion by 2030, with a CAGR of 19.3% from 2021 to 2030.
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Main determinants of growth
Rising prevalence of infertility rate, technological advancements in assisted reproduction technologies, growth in disposable income, and awareness regarding infertility treatment are driving the growth of global assisted reproductive technologies market . However, the high cost of ART procedures and the risk associated with IVF treatment are hampering the growth of the market. On the other hand, growing opportunities in emerging markets and increasing fertility tourism present new opportunities in the years to come.
The outbreak of the Covid-19 pandemic has had a positive impact on the global assisted reproduction technology industry, due to the multiple strategic actions taken by organizations.
Government authorities in different countries have approved assisted reproduction technology for the treatment of infertile couples, which in turn has offered lucrative opportunities for market growth, during the pandemic period.
Moreover, in the post COVID era, the market is expected to grow exponentially, mainly due to the success rate of assisted reproduction technologies.
The accessory and the disposable segment to maintain its leadership status throughout the forecast period
On the basis of the product, the accessories and disposables segment held the highest market share in 2020, accounting for more than half of the global assisted reproduction technology market, and is expected to maintain its leading status throughout the period. forecast. This is due to the increasing prevalence of infertility, increasing demand for in vitro fertilization procedures such as oocyte retrieval, sperm analysis and screening, manipulation of gametes and others. . However, the instruments segment is expected to show the highest CAGR of 23.10% from 2021 to 2030, due to the increased demand for frozen embryo transfer, the increase in the prevalence of infertility and the increase in the number of IVF procedures.
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Fertility Clinics Segment to Maintain Leading Position During Forecast Period
Based on the end-user industry, the fertility clinics segment accounted for the largest share in 2020, contributing more than half of the global AHR technologies market, and is expected to maintain its leading position over the course of the forecast period. This is due to the increase in the prevalence of fertility cases, the increase in sedentary lifestyle and the growth in the number of fertility clinics. In addition, this segment is expected to represent the largest CAGR of 20.5% from 2021 to 2030.
Europe, followed by North America, to maintain its dominance by 2030
Depending on the region, Europe, followed by North America, had the highest market share in terms of 2020 revenue, accounting for almost two-fifths of the global AHR technologies market. This is due to increased use of innovative technology equipment services, increased incidence of infertility cases, high disposable income, increased funds from government and private organizations. for in vitro fertilization (IVF) and technological advances in infertility. However, the Asia Pacific The region is expected to experience the fastest CAGR of 21.3% during the forecast period, owing to the increased incidence of infertility, increased awareness of surrogacy and increased awareness of surrogacy. increased demand for assisted reproduction technologies.
Main market players: –
Cook Medical Inc.
Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.)
Merck KGaA (EMD Serono, Inc.)
Millendo Therapeutics, Inc.
Oxford Genetic Technology
Cooper, Inc. (CooperSurgical, Inc.)
Thermo Fisher Scientific, Inc.
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