According to a new report published by Allied Market Research, titled, "Fertility Services Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2018-2026," the global fertility services market size is expected to reach $27,152 million by 2026, registering a CAGR of 8.9% from 2018 to 2026, in terms of value.
The global fertility services market generated $13,655 million in 2018 and is projected to reach $27,151 million by 2026, growing at a CAGR of 8.9% from 2019 to 2026. Asia-Pacific is estimated to be the highest revenue contributor throughout the forecast period.
Fertility services are availed by people who are unable to conceive naturally. These services assist infertile couples, single parents, and LGBT community to procreate and start a family. IVF and other assisted reproductive technology (ART) procedures, surrogacy, and artificial insemination are some of the widely performed fertility services.
The fertility services market growth is driven by increase in infertility rates, rise in trend of delayed pregnancies, surge in ART success rate, and growth in disposable income. Furthermore, rise in prevalence of infertility due to increase in risk factors, such as obesity, stress, polycystic ovarian syndrome (PCOS), sexually transmitted infections, endometrial tuberculosis, and other medical conditions, is expected to offer lucrative opportunities for the fertility services market growth during the forecast period.
Based on procedure, the IVF with ICSI segment accounted for half of the fertility services market share in 2018. This segment is expected to exhibit a prominent growth rate, owing to some key factors such higher success rates associated with ICSI-IVF in case of poor sperm morphology, poor sperm motility, low sperm count, and others.
Based on fertility services market trends by end user segment, fertility clinics generated revenue the highest revenue in 2018 and is anticipated to continue the same during the forecast period. The segment of surgical centers would exhibit prominent growth rate due to availability of various fertility procedures under one roof, development of fertility devices with advanced technologies and the availability of a skilled workforce.
Key Findings of the Fertility Services Market :
- The IVF with ICSI segment accounted the highest market share of 50% in 2018 and is anticipated to grow at the fastest during the forecast period segment is anticipated to grow at the fastest rate during the forecast period.
- The Asia-Pacific region was the major shareholder and accounted for the highest share of 38% in 2018.
- Based on service, the egg and embryo banking segment is expected to grow at a CAGR of 11.2 % during the forecast period.
- Fresh non-donor segment dominated the market share in 2018 and is anticipated to maintain its dominance during the forecast period.
In addition, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to surge in adoption of fertility procedures, development in the healthcare infrastructure, and rise in fertility tourism.