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Gamete preservation is a technique to store and preserve gametes such as spermatozoa and oocyte for some time span to use it in the future. The gamete preservation banks are responsible for the storing and freezing of human gametes. The technique of gamete preservation is preferred by men just as women with a probability of losing fertility, due to threat or during clinical treatment of infertility. Gamete preservation banks take and store a huge part of spermatozoa and oocyte for the ones who cannot conceive. Stored gamete cells are utilized by couples for infertility treatments such as in-vitro fertilization or assisted reproductive technology (ART). Improvements in cryopreservation techniques, rise in concern about infertility issue, the emergence of fertility tourism, increase in incidence of miscarriages, escalation in the rate of obesity, and surge in awareness toward infertility treatment are the key factors that drive the growth of the global gamete preservation market.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Increase has been witnessed in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment, including masks, gloves, and protective eyeglasses. The need for medical supplies has increased among both healthcare professionals and civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the gamete preservation market.
Top Impacting Factors
Market Trends
Strategies to flourish the market
Different organizations are focusing on organic development policies, for example, product approvals, product launches, and others such as events and patents. Inorganic development policies utilization noticed in the market were acquisitions, and collaborations, and partnerships. These activities have cleared the route for the development of the business and client base of market players.
In April 2019, A majority stake has been acquired by Axcel in European Sperm Bank, which is a leading sperm bank in Europe. This was to expand an existing business and provide effective sperm bank services. Such acquisition will allow the expansion of gametes banks globally during the forecast period.
Funding with the assistance that is provided by government as well as nongovernment groups such as WHO boost the market growth. Furthermore, increase in advanced research activities for the discovery and development of novel technologies would be a major benefit for global players. In addition, rise in reimbursements for gamete donation is fueling the growth of the market.
Key Benefits of the Report
Questions Answered in the Gamete Preservation Report
Key Market Segments
Key Market Players