Assisted Reproductive Technology Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global market value of the assisted reproductive technology market was valued at USD 2.3 billion in 2022, and a CAGR of 19.5% is expected during the forecast period. An increase in the infertility rate is driving growth in the market significantly. The rise in funding from government and private organizations is driving growth in the market significantly.

Technological advancements in fertility treatment, increasing awareness and acceptance of ART procedures, supportive government initiatives, and changing lifestyles impacting fertility are driving growth in the market. Increasing awareness of health and rising healthcare expenditures are driving demand in the assisted reproductive technology market. Rising disposable income all over the world, which is impacting the healthcare sector, is the driving factor behind the assisted reproductive technology market.


Growth Drivers

The increasing infertility rate all over the world is driving growth in the market significantly. There has been a global rise in infertility rates due to various factors, such as delayed childbearing, lifestyle changes, environmental factors, and medical conditions, affecting reproductive health. Technological advancements in ART, such as in vitro fertilization, and growing awareness and acceptance of ART procedures among the population. Changing societal norms, such as increased acceptance of non-traditional family structures and the desire for biological parenthood later in life, contributed to the demand for ART services. The presence of some big companies in different regions is driving growth in these regions.

The increased social and economic burden after the pandemic also caused significant growth in the market. Fertility treatment increased due to the side effects of the Novel Corona virus. Rising fertility cases due to late marriage, a hectic lifestyle, excess junk food eating, smoking, alcoholism, and drug addiction are driving significant growth in the market. The increasing number of single parents and same-sex marriages is driving growth in the market. Changing government regulations, socio-ethical issues, and high costs are driving growth in the market. In-vetro fertilization is the most demanding segment in this market.

Segmentation

By Product

·         Instrument

·         Accessories and Disposable

·         Reagents and Media

By Technology

·         In-Vetro Fertilization

·         Artificial Insemination

By End-User

·         Fertility Clinics

·         Hospitals

·         Surgical Centre

·         Clinical Research Institute

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Assisted Reproductive Technology Market by End-User Segmentation

On the basis of end-user segmentation, the market is segmented into fertility clinics, hospitals, surgical centers, and clinical research institutes. The fertility clinic segment is expected to dominate the market during the forecast period due to the increasing number of infertility cases, and the surgical center segment is the fastest growing due to the demand for surgery in cases of infertility and the increasing demand for IVF. These are the primary providers of ART services, offering treatments such as in-vitro fertilization and embryo transfer procedures.


Many hospitals have specialized reproductive medicine departments that offer ART services alongside other medical treatments. These institutions conduct research on ART techniques, genetics, and reproductive health, contributing to advancements in the field. Facilities that store and manage frozen embryos for future use in ART procedures. Another category includes fertility support groups, donor agencies, and other organizations involved in supporting individuals and couples undergoing ART treatment. The increasing number of hospitals is also driving the demand in the market.

Assisted Reproductive Technology Market by Technology Segmentation

On the basis of technology, the assisted reproductive technology market is segmented into in-vetro fertilization and artificial insemination. In-vitro fertilization is the leading segment because of the increase in the prevalence of fertility cases and the growth in the number of fertility clinics all over the world. IVF has shown consistent improvements in success rates over the years, making it a preferred choice for couples struggling with infertility. It does address a broad range of infertility issues, including fallopian tube damage and male-factor infertility.

Continuous innovation in IVF techniques, such as embryo culture methods, genetic testing, and cryopreservation, has enhanced efficiency and safety. Rising infertility rates due to delayed childbearing, lifestyle changes, and environmental influences contribute to the demand for growing IVF rates. It is also used in conjunction with other ART methods. Overall, effectiveness, versatility, and continuous technological advancement are the key factors behind the significant growth in the market. The increasing number of patients due to various factors such as delayed marriage, excess junk food consumption, a hectic lifestyle, and increasing awareness about the success of IVF is driving growth in the market.

Regional Outlook

The assisted reproductive technology market is segmented into five parts: Asia Pacific, North America, Latin America, Asia Pacific, and Europe. North America is the leading segment in the market and is expected to grow during the forecast period. Increasing government initiatives and rising health awareness in the region are decreasing the rapidly growing infertility in the region. The United States of America is the fastest-growing region in terms of healthcare infrastructure. Rising disposable income in the region and an increasing number of infertility patients are the main reasons behind the significant growth in the market.

The Asia-Pacific region is also not far behind. The region has the highest population and is experiencing increasing urbanization, along with an increasing number of infertility patients. Countries like China and India are witnessing significant growth in the number of patients in the region, thus witnessing more demand for better treatment. The European market, including countries like Germany, France, Russia, Spain, and England, is witnessing significant growth due to increasing fertility rates, advancements in technology, and changing lifestyles.

Spain, Germany, and the United Kingdom are major contributors to the market. Regulations governing ART practices vary across Europe. The market encompasses various segments such as vitro fertilization, intracytoplasmic sperm injection, and gamate intrafallopian transfer, among others, each influenced by technological innovations and demographic trends. The Middle East, Africa, and Latin America have also witnessed an increasing number of patients with infertility who have thus required good treatment.


Key Players

·         Cook Medical Inc.

·         Cooper Surgical Inc.

·         Thermo Fisher Scientific Inc.

·         Oxford Gene Technology

·         Fujifilm Holdings Corporation

·         Nidacon International AB

·         Millendo Therapeutics

·         Hamilton Thorne Inc.

·         Ferring B.V.

·         Bloom IVF

·         Esco Micro Pte Ltd.

·         Smith’s Medical

·         Merck KgaA

·         Genera Biomedx

·         Other Players

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