Assisted Reproductive Technology Market Size, Share, Growth Report 2032

Industry Prospective:

The global assisted reproductive technology market size was worth around USD 20 billion in 2021 and is predicted to grow to around USD 41.45 billion by 2028 with a compound annual growth rate (CAGR) of roughly 6.25% between 2022 and 2028. The report analyzes the global assisted reproductive technology market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the assisted reproductive technology market.

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Assisted Reproductive Technology Market: Overview

Assisted reproductive technology (ART) is used to treat medical conditions related to infertility. As per definition by the World Health Organization (WHO) infertility is a disease of the female or male reproductive system causing failure in achieving pregnancy even after 12 months or more of regular unprotected sex. In male reproductive systems, infertility can be caused by issues in sperm ejection, abnormal shape or movement of sperm, and absence or low sperm count. In female reproductive systems, infertility can be related to a variety of abnormalities concerning the ovary, uterus, endocrine system, and fallopian tubes to name a few. Infertility can be either primary or secondary. Primary infertility is when a person has never been pregnant in the entire lifetime, second infertility is when at least one pregnancy has been achieved previously. Assisted reproductive technology deals with treating the conditions related to infertility by working on both sperm and eggs. The process involves removing eggs and sperm separately and then mixing them together outside the human body to create embryos. With the help of technology, once the embryo is developed and functional, it is put back in the human body willing to carry it till the end-term of the pregnancy.

In various cases, it might sometimes become necessary to use donor eggs, sperm, or previously frozen embryos. If the partner who is expected to carry the embryo in the womb is not medically fit to carry the pregnancy for the rest of the months or in the case where partners lack the necessary reproductive organs to carry the embryo within the body, surrogacy or gestational carriers can be used in such circumstances. The main difference between them is that surrogates are women who get pregnant by the sperm of one of the partners, whereas gestational carriers get pregnant by sperm from one partner and egg from the other

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Key Insights

• As per the analysis shared by our research analyst, the global assisted reproductive technology market is estimated to grow annually at a CAGR of around 6.25% over the forecast period (2022-2028).
•  In terms of revenue, the global assisted reproductive technology market size was valued at around USD 20 billion in 2021 and is projected to reach USD 41.45 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on end-users segmentation, fertility clinics were predicted to show maximum market share in the year 2021
• Based on technology segmentation, in vitro-fertilization was the leading revenue-generating implementation type in 2021.
• On the basis of region, North America was the leading revenue generator in 2021

Covid-19 Impact:

The global market cap had a negative impact because of Covid-19 owing to the cancellation or procedures and closure of all non-essential units. Almost the entire healthcare sector directed all of its efforts toward containing the virus or treating Covid-19 infected patients. The global market witnessed a slow rate of newer appointments because of extreme financial and emotional uncertainties that arose due to the virus.

Assisted Reproductive Technology Market: Growth Drivers

Rising cases of infertility to expand the market cap

The global assisted reproductive technology market is anticipated to be driven by the rising number of infertility cases across the globe. As per statistics from WHO, over 48 million coupled, and over 186 million people suffer from infertility issues. The global male infertility market is expected to grow at a CAGR of 4.9% by 2030. These rising numbers can be attributed to multiple factors. For example, in the case of female reproductive systems, there is a chance of blocked fallopian tubes and uterine disorders that are either inflammatory, congenial, or benign in nature. Ovary disorders like polycystic ovarian syndrome are an extremely common type of fertility-related concern among the women population. In the case of male reproductive systems, hormonal disorders, abnormal sperm quality of functionality, reproductive tract obstruction, failure of testicles to produce sperm, along with other reasons can cause infertility. Since there is a lot of permutation & combination involved in concluding the final reason why a person is unable to conceive, the global market is expected to be rising owing to the number of years it takes in some cases, to resolve these issues.

Assisted Reproductive Technology Market: Restraints

High cost of ART to restrict the market growth

Assisted reproductive technology is extremely expensive rendering it unaffordable for lower-income groups. In several cases, couples or people have had to undergo multiple tests, appointments, procedures, medicines, etc., and even still the technology has failed to give positive results. Once the procedure fails, the person, after taking a few months off, has to repeat the process if they wish to try again which may not be feasible for many. The slim chances or odds of assisted reproductive technology providing the desired results at the first go may restrict the global market growth.

Assisted Reproductive Technology Market: Opportunities

Advancements in technology to provide market growth opportunities

Since the complications related to infertility have taken a huge jump, the healthcare sector has managed to modify its ways of dealing with the issue. With the adoption of technologies like artificial intelligence and machine learning, it has become easier to detect even exceptional cases of infertility and find the root cause. Until some years ago, the global assisted reproductive technology market lacked the necessary advanced technology to study the small changes of abnormalities in human reproductive systems which has been taken care of by the adoption of better technical systems which may provide global market growth opportunities.

Assisted Reproductive Technology Market: Challenges

Low success rate and emotional quotient to challenge the market expansion

In many cases, the success rate of assisted reproductive technology is now as high as individuals undergoing the medical treatment would expect. The failure of the treatment has emotional and financial implications for the parties involved in the process. In vitro fertilization (IVF) is known to be psychologically and emotionally stressful because of the heavy medications involved in the process and their effects on the body resulting in challenging situations for global market growth.

Assisted Reproductive Technology Market: Segmentation

The global assisted reproductive technology market is segmented based on technology, product, end-user, and region.

Based on technology, the global market segments are in vitro-fertilization (IVF), artificial insemination, and others. IVF leads the global market segment. Since the introduction of the technology, over 1.9% of babies in the USA are born through IVF and other ART. Even though artificial insemination is less painful and costs less money than IVF, it may not be enough for a healthy pregnancy and may need other measures for the desired outcome.

Based on technology, the global market is divided into the instrument, accessory & disposable, and reagent & media. Accessory & disposable are highly used in the global market because of the various tests that have to be conducted during the entire process. IVF devices and consumables market may grow at a CAGR of 19.72% by 2030.

Based on end-users, the global market is divided into fertility clinics, hospitals, surgical centers, and clinical research institutes. Fertility clinics lead the segmental growth since they specialize in treating infertility. The fertility clinics market is expected to generate a revenue of around USD 25,00 million in the next five years.

Recent Developments:

• In February 2021, TMRW Life Sciences announced the launch of the first automated cryo specimen management solution which is first-of-its-kind across the globe. The solution is meant for embryos and eggs that are used during IVF. The solution is installed across various premium-grade facilities in the USA. With this, the company has managed to take a step toward digital management of embryos and eggs
• In September 2019, Monash IVF Group Ltd. acquired Fertility Solutions based in Queensland for a value of A$2.1 million. With this move, the company expanded its global reach along with the addition of two clinics in the area.

Report Scope:

Assisted Reproductive Technology Market: Regional Analysis

North America to hold significant market share during the projection period

The global assisted reproductive technology market is anticipated to be dominated by North America during the next few years owing to the higher adoption rate of ART driven by the presence of high-income groups that can afford the treatment procedure. The regional growth may also be attributed to the high number of medical institutes offering ART-based services. As per the Centers for Disease Control and Prevention (CDC), more than 4 million births in the USA are with the help of IVF every year. The government's role in taking initiatives toward eliminating the stigma or hesitancy around ART like creating mass awareness with the help of advertisements and policies is expected to propel regional growth.

Europe is also anticipated to grow significantly during the projection period because of various schemes through which public institutes and private companies encourage couples or individuals seeking assisted reproductive technology. The high adoption of advanced technology for ART-related processes may also assist regional growth trends.

Assisted Reproductive Technology Market: Competitive Analysis

The global assisted reproductive technology market is driven by players like Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Oxford Gene Technology, Cook Medical Inc., Genea Biomedx, Millendo Therapeutics, Inc., Merck KGaA (EMD Serono, Inc.), The Cooper Companies, Inc. (CooperSurgical, Inc.), Progyny Inc., Vitrolife AB, and Thermo Fisher Scientific, Inc.

The global assisted reproductive technology market is segmented as follows:

By Technology

• In Vitro-Fertilization
• Artificial Insemination
• Others

By Product

• Instrument
• Accessory & Disposable
• Reagent & Media

By End-Users

• Fertility Clinics
• Hospital
• Surgical Centers
• Clinical Research Institutes

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa