Fertility Services Global Market Report 2021: COVID 19 Growth And Change to 2030

New York, May 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fertility Services Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06071091/?utm_source=GNW


The global fertility services market is expected to grow from $16.948 billion in 2020 to $18.475 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $28.236 billion in 2025 at a CAGR of 11%.

The fertility services market consists of sales of infertility treatment services and related products by entities (organizations, sole traders and partnerships) that provide infertility treatment services which are used in various applications to treat infertile patients.Fertility treatment is a medical procedure intended to increase the chances of conceiving a child.

Only goods and services traded between entities or sold to end consumers are included.

Companies in the fertility services market have witnessed significant growth in the number of research collaborations as well as research funding approvals.Key companies operating in the market are projected to increase their R&D expenditure to introduce new advanced techniques and drugs used for fertility treatments.

For instance, in June 2019, Thermo Fisher Scientific announced a research collaboration with Predictive Laboratories, a wholly-owned subsidiary of Predictive Technology Group, Inc., concentrating on studying the genetic factors causing infertility in women. The collaboration is expected to utilize Thermo Fisher Scientific’s offerings for reproductive health including Ion ReproSeq PGS Assay, Applied Biosystems CarrierScan Assay, Ion AmpliSeq Exome RDY for whole-exome sequencing, and CytoScan Dx Assay. Furthermore, in March 2019, Olympus Corporation, a Japan-based company, announced a collaboration with the Jikei University School of Medicine to develop AI-assisted sperm selection, which aims to reduce the workload in intracytoplasmic sperm injection (ICSI). The research is expected to help embryologists to select good sperm.

The fertility services market covered in this report is segmented by procedure into assisted reproductive technology (ART); in-vitro fertilization; artificial insemination. It is also segmented by service into fresh non-donor; frozen non-donor; egg and embryo banking; fresh donor; frozen donor and by application into male; female.

In July 2019, Monash IVF Group, an Australia-based IVF company, acquired Fertility Solutions, a Queensland-based provider of fertility services for $1.43 million (AUD 2.1 million). The company acquired certain assets, liabilities, and contracts of Fertility Solutions. The acquisition is expected to expand the geographical presence of Monash IVF Group with two clinics of Fertility Solutions located in Bundaberg and Sunshine Coast. Fertility Solutions was established in 2007 and is engaged in providing affordable and high-quality options for fertility services. The company operates as an assisted reproductive service (ARS) clinic with locations in Bundaberg and Buderim.

Growing infertility rates are anticipated to boost the demand for fertility services during the forecast period.Various social and environment-related factors such as lifestyle changes including obesity, stress or depression, and high consumption of alcohol contribute to a surge in infertility rates, thereby generating the high requirement for fertility services.

According to the Indian Journal of Community Medicine, as of 2019, around 15 to 20 million or 25% of the couples suffer from infertility annually, thus driving the demand for fertility services.

The high cost of fertility services is expected to limit the growth of the fertility services market.The cost of in-vitro fertilization (IVF) primarily depends on infertility workup and varies from person to person.

For instance, the average cost of one in-vitro fertilization (IVF) cycle is $12,000.The range of cost involved in one IVF cycle can be between $10,000 and $15,000, which excludes the cost of medication which may be as low as $1,500 or as high as $3,000 per cycle.

The IVF cost is continuously rising attributing to modern diagnostic tests and various treatment methods such as hysteroscopy, IUI, and laparoscopy being used to facilitate and aid infertility treatment cost. Therefore, the high cost of fertility treatment is to act as a major challenge for the development of the fertility services market.


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