Fertility Services Market Insights
Changing lifestyles and the growth and adoption of urbanization has had a strong impact on health across the globe. These lifestyle changes have impacted fertility significantly as increased the demand for fertility services market. Market Research Future’s market study on the subject has divulged market details in its report. Findings suggest that the market is likely to witness a CAGR of 8.50% during the assessment period from 2018 to 2023. A notable dip in birthrates has been observed, and growing awareness of fertility services are expected to bolster the market.
Urban lifestyles have promoted chronic diseases and the reduction of fertility rates across the world. Obesity rates are growing rapidly and as such so are various reproductive system disorders which affect the birth rate. Increasingly women are developing PCOS which has resulted in increased pursuit of fertility services, this impacting market growth. Advancement in technology has resulted in various fertility treatments that achieve great success, despite their hefty price tag. Moreover, more women than ever are highly literate and pursuing careers; this has encouraged family planning, and women are choosing options such as freezing of eggs and the like. In this global environment, late pregnancy trends have emerged and as such require fertility treatments at a higher rate, thus driving the market.
The high price point of fertility services, particularly in developed countries is expected to impact the market negatively. However, increasingly supportive reimbursement policies are expected to reveal opportunities for growth of the market.
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Fertility Services Market Segmentation
Segmental analysis of the fertility services market divides it on the basis of underlying cause, treatment type, and region. Underlying causes of fertility problems have been segmented into male infertility and female infertility. The female infertility segment has captured 54% of the market and is expected to grow at the highest CAGr. Increasing obesity rates, increase in various lifestyle-related health problems and increasing late family planning have played a significant role in the segments leadership position.
Treatment types are divided into assisted reproductive technology (ART), and infertility drugs. ART has established itself as the leading segment with a share of over 76% in 2017. Increased demand for IVF treatments has been observed to be responsible for the segments growth and market size.
Main geographies expounded in MRFR’s report include Europe, Asia Pacific, the Americas, and the Middle East and Africa.
Fertility Services Market Regional Analysis
Europe leads the market with the most significant share of 34.6%. Growing at a promising CAGR of 8.50%, the European markets growth can be attributed to the low fertility rate in the region as well as a trend of delayed family planning. Due to this, the regions reimbursement policies are promoting demand for fertility services.
The Americas have been established as the second largest regional market. The regions well-developed healthcare system and adoption of advanced technologies have boosted fertility services in the region. Moreover, the high obesity rates in the U.S has led to a dip in fertility rates, and as a result, women are turning to fertility services, thus encouraging market growth.
The APAC region is slated to grow at the fastest pace during the forecast period. Rapid urbanization in the region has resulted in changing lifestyles and the emergence of increased fertility problems. Increasingly favorable reimbursement policies and the adoption of sophisticated technology is expected to improve market growth, particularly in countries like Japan and India.
Fertility Services Market Key Players
Prominent competitors analyzed in MRFR’s report include CooperSurgical, Merck KGaA, Vitrolife, CARE Fertility Group Limited, Cook Medical, Irvine Scientific Sales Company, Inc., Ferring Pharmaceuticals and others.
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Fertility Services Industry News
The Dubai Health Authority is opening a new gynecology and fertility center which will commence operations in 2020.
S Based Future Family has raised over USD 10 Mn for expansion of its subscription model for fertility services.
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