Newark, New Castle, USA, June 13, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global in vitro fertilization banking services market was conducted by Growth Plus Reports in 2022 and is valued at US$ 3.8 billion. The market is expected to hit a revenue CAGR of 9.80% to reach US$ 9.1 billion by 2031.
Analysis of the global market for in vitro fertilization banking services indicates that the revenue share is likely to increase significantly during the forecast period. IVF banking services include the collection, freezing, and storage of embryos, oocytes, and sperm for future IVF treatments.
Key Takeaways:
- The rising adoption of IVF as a viable option is driving the market revenue share.
- The growing tendency of deferring childbearing until later in life, particularly in affluent nations, is increasing demand for in vitro fertilization banking services.
- According to Yalemedicine forecasts for 2023, around 15% of couples in the United States are having problems conceiving, with male infertility affecting more than 50% of the time.
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In Vitro Fertilization Banking Services Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 3.8 billion |
| Revenue Forecast in 2031 | US$ 9.1 billion |
| CAGR | 9.80% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Service Type and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the In Vitro Fertilization Banking Services Market:
- In February 2023, California Cryobank, a new donor sperm bank for the Canadian market, was founded in Canada by Generate Life Sciences.
Competitive Landscape
A list of the companies operating in the global in vitro fertilization banking services market includes:
- Seattle Sperm Bank
- Cryos International
- European Sperm Bank
- CCRM's network
- Boston IVF's network
Market Drivers and Restraints:
The market revenue for in vitro fertilization banking services is driven by the rising cases of infertility among couples, planning parenthood in their later life, awareness of IVF, technological advancements, and high disposable incomes.
However, due to the high expenses, the in vitro fertilization banking services market revenue growth will likely be restrained.
Market Segmentation:
- Based on service type, the global in vitro fertilization banking services market is segmented into egg banking and sperm banking.
- The egg banking segment is further sub-segmented into fresh donor egg cycle and frozen donor egg cycle.
- The sperm banking segment is further sub-segmented into sperm storage services and andrology services.
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Segmentation By Service Type
Based on the service type, the sperm banking segment dominates the global in vitro fertilization banking services market with the largest revenue share. This large revenue share is attributed to increased demand for sperm preservation and donation services. Furthermore, increased fertility treatment knowledge and the rising frequency of male infertility are boosting the demand for in vitro fertilization banking services.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global in vitro fertilization banking services market. In North America, many couples are choosing in vitro fertilization procedures. Furthermore, rising infertility rates and supportive government policies raise awareness of fertility preservation.
Report Coverage
Growth Plus Reports carried out extensive market research on the in vitro fertilization banking services market globally. We examined the fundamental market characteristics, significant investment opportunities, regional growth patterns, ten-year revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
IN VITRO FERTILIZATION BANKING SERVICES MARKET TOC
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
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- Customer Base Assessment
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- 'Business Profile' of Key Players
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