Global Fertility Services Market is expected to register a CAGR of 6.00% during the forecast period and hit USD 46.06 billion by 2030..
Fertility services
are procedures or treatments incorporated to cure genetic and fertility issues
and assist in conception. These services include Assisted Reproductive
Technology (ART) methods and drugs that help single parents, infertile couples,
and the Lesbian, Gay, Bisexual, and Transgender (LGBT) community in planning a
family.
The declining
fertility rate, technological advancements in fertility treatments, growth in
the median age of first-time motherhood, and rise in obesity and the
consumption of alcohol/cigarettes lead to infertility, which is eventually
driving the market for fertility services. According to ESHRE, more than 25
million European Union (EU) citizens are affected by infertility. In France,
reimbursement/state funding includes six IUI’s (one IUI per menstruation cycle)
and four IVF treatments for women under 43 years of age. These factors support
the growth of the global fertility services market.
Major Key
Players:
MRFR recognizes the Fertility Services Market
Players are— Merck KGaA, Cook
Medical, Irvine Scientific Company Inc., Copper Surgical, Kitazato Cooperation,
Vitrolife, Ferring B. V, Invo Bioscience, Monash IVF Group, and Care Fertility.
Segment Analysis
The fertility
services market is divided into several segments such as:
By product: The
market is segmented into Ovulation Predictor Kits, Fertility Monitors, and Male
Fertility Testing Products based on product. The Ovulation Predictor Kits
category will lead the fertility test market. The strong desire for these kits
and the rising median age of first-time pregnancies in women can all be linked
to their low cost and great efficacy.
By application:
The market is divided into two categories: Female Fertility Testing and Male Fertility Testing. Female
fertility testing is predicted to take up a higher portion of the fertility
test industry. Factors such as declining female fertility rates, the
availability of a wide range of fertility testing choices, and the high cost of
IVF operations can all be blamed for the big percentage.
By end-user: The
market is segmented into Home Care Settings, Hospitals, Fertility Clinics, and
Others. The fertility test market is likely to be dominated by the sector of
home care settings. The substantial share can be linked to the fall in women's
and men's reproduction rates, the growing necessity for continuous monitoring
of health issues, and the growing demand for home and remote monitoring.
Regional Analysis
By region, the fertility services market report covers the latest trends
and growth opportunities across the Asia Pacific (APAC), Europe, the Americas,
and the Middle East and Africa (MEA), Of these, Europe will spearhead the
market during the forecast period for the significant increase in IVF, delayed
marriages, low fertility rate, reimbursement policies, and state funds.
The Americas will have the second-largest share in the market over the
forecast period on account of the presence of a developed healthcare system,
advanced technologies, and growing incidence of hormonal imbalance in women due
to obesity.
The Asia Pacific region is projected to grow at the fastest pace over
the forecast period on account of the adoption of sophisticated technologies,
favorable reimbursement policies, gynecological conditions, and changing
lifestyle conditions.
The fertility services market in the Middle East and Africa is predicted
to have a slow growth over the forecast period chiefly for the scarcity of
advanced medical facilities, fewer investments in the healthcare industry,
cultural and religious factors, scarcity in skilled medical professionals, and
lack of awareness.
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