Fertility services are defined as services that can help both men and women to overcome medical problems, which prevent them from having children. A new report on the global fertility services market, published by Market Research Future (MRFR), observes that this market could find growth at 6.50% CAGR between 2020 and 2027.
The prominent market enhancing factors for the global fertility services market include growing urbanization, rising numbers of women joining the workforce, the inclination of women for advanced studies, delayed family planning, and reimbursement schemes. Another crucial factor contributing to the market growth include advances in fertility treatment that gives women options to bear children in later years. Such technologies are gaining popularity due to use and endorsement by female celebrities. However, high costs for fertility treatments can affect market growth negatively.
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Types of treatments include Assisted Reproductive Technology (ART) and infertility medications. The antiretroviral treatment segment is also segmented into artificial insemination, in vitro fertilization (IVF), frozen embryo replacement (FER), and others. The ART segment should be the preferred treatment for infertility due to the high success rate. In addition, the introduction of in vitro fertilization treatments, the availability of reimbursement systems that cover these options, and the patients’ disposable income may stimulate segment demand over the forecast period.
Europe leads the market with the most significant share of 34.6%. Growing at a promising CAGR of 8.50%, the European markets growth can be attributed to the low fertility rate in the region as well as a trend of delayed family planning. Due to this, the regions reimbursement policies are promoting demand for fertility services.
The Americas have been established as the second largest regional market. The regions well-developed healthcare system and adoption of advanced technologies have boosted fertility services in the region. Moreover, the high obesity rates in the U.S has led to a dip in fertility rates, and as a result, women are turning to fertility services, thus encouraging market growth.
The APAC region is slated to grow at the fastest pace during the forecast period. Rapid urbanization in the region has resulted in changing lifestyles and the emergence of increased fertility problems. Increasingly favorable reimbursement policies and the adoption of sophisticated technology is expected to improve market growth, particularly in countries like Japan and India.
Notable players profiled in the fertility services market report include Vitrolife (US), Ferring Pharmaceuticals Inc. (US), CARE Fertility Group Limited (UK), CooperSurgical Inc (US), Irvine Scientific (US), Cook Medical (US), and Merck KGaA (Germany). Key players have incorporated several strategies to suffice the needs of the customers and stay ahead in the competition. These strategies include partnerships, collaborations, joint ventures, recent developments, mergers and acquisitions, and innovations.
LIST OF FIGURES
FIGURE 1 GLOBAL FERTILITY SERVICES MARKET STRUCTURE 15
FIGURE 2 BOTTOM-UP AND TOP-DOWN APPROACHES 21
FIGURE 3 MARKET DYNAMICS: ANALYSIS OF THE GLOBAL FERTILITY SERVICES MARKET 24
FIGURE 4 PORTER’S FIVE FORCES ANALYSIS: GLOBAL FERTILITY SERVICES MARKET 29
FIGURE 5 VALUE CHAIN ANALYSIS OF THE GLOBAL FERTILITY SERVICES MARKET 31
FIGURE 6 GLOBAL FERTILITY SERVICES MARKET, BY UNDERLYING CAUSE, 2020 & 2027 (USD MILLION) 34
FIGURE 7 GLOBAL FERTILITY SERVICES MARKET, BY TREATMENT TYPE, 2020 & 2027 (USD MILLION) 37
FIGURE 8 GLOBAL FERTILITY SERVICES MARKET FOR ART, BY TREATMENT TYPE, 2020 & 2027 (USD MILLION) 38
FIGURE 9 GLOBAL FERTILITY SERVICES MARKET, BY REGION, 2020 & 2027 (USD MILLION) 42
FIGURE 10 EUROPE: FERTILITY SERVICES MARKET SHARE, BY REGION 2020 (%) 43
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