New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sperm Bank Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented by Service, By Donor Type, By End User, By Region" - https://www.reportlinker.com/p06482454/?utm_source=GNW
The global sperm bank market is anticipated to grow at a steady CAGR in the forecast period, 2023-2027.This can be ascribed to the growing prevalence of infertility disorders across the world.
Additionally, the development of new technologies, such as Assisted Reproductive Technology (ART), further increased the demand for sperm banks, thereby driving market growth.Additionally, changing lifestyle patterns coupled with some other factors like genetic disorders, exposure to certain harmful chemicals and toxins, and problems regarding sperm production, among others, are further expected to support the growth of global sperm banks market during the forecast period.
Besides, the legalization of marriages across the same gender across different parts of the world is expected to create lucrative opportunities for the growth of the sperm bank market in the coming years.
Rising Awareness Regarding Sperm Bank
The International Sperm Count Decline Awareness Day is observed on 30th June every year to create awareness related to sperm donation.The World Health Organization, Cryos International, and many other governmental and non-governmental organizations are taking initiatives to promote the value of sperm donation and its use in curing infertility.
The growing infertility rate among the global population, coupled with increasing awareness regarding the declining sperm count among men globally, is further expected to create lucrative opportunities for market growth.
Growing Prevalence of Obesity
The increasing prevalence of obesity is a major factor contributing to the growth of the sperm bank market globally. According to Global Obesity Observatory, the prevalence of obesity among males in the United States was about 36.47%, while that in females was about 38.16%. In terms of obesity in males, the United States ranked 14th, while in females, the United States stood at 30th position. Obesity reduces sperm count in males and is responsible for causing infertility among women. This, in turn, has increased the pool of people availing services like in-vitro fertilization, thereby driving the growth of sperm banks.
Growing Fertility Tourism
The growing fertility tourism across the globe is expected to create lucrative opportunities for market growth in the coming years.Fertility tourism refers to the practice of traveling to another country or jurisdiction to avail fertility treatments.
The United States, UAE, Thailand, Italy, and Mexico are a few such countries that provide the option for gender selection in in-vitro fertilization treatments.This, in turn, has increased medical tourism in these countries since they have gender selection legalized in them.
Besides, fertility tourism has increased in countries where the in-vitro fertilization treatment success rate is higher, for instance, Malaysia in the Asia Pacific region.
Market Segmentation
The global sperm bank market can be segmented by service, donor type, end user, and by region.Based on service, the market can be categorized into sperm storage, semen analysis, and genetic consultation.
Based on donor type, the market can be split into known donors and anonymous donors.Based on the end user, the market can be bifurcated into in-vitro fertilization v/s donor insemination.
Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America.The United States holds the biggest market for sperm banks among other countries.
This can be ascribed to the decreasing fertility rate in the country. In 2020, the fertility rate reduced to 1.64 children per woman from 1.71 children per woman in 2019.
Market Players
Cryo-Save AG, Fairfax Cryobank Inc, Xytex Corporation, Indian Spermtech, Seattle Sperm Bank, London Sperm Bank, Andocryos, New England Cryogenic Center, California Cryobank, Babyquest Cryobank are some of the leading players operating in the global sperm bank market.
Report Scope:
In this report, global sperm bank market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Sperm Bank Market, By Service:
o Sperm Storage
o Semen Analysis
o Genetic Consultation
• Sperm Bank Market, By Donor Type:
o Known Donor
o Anonymous Donor
• Sperm Bank Market, By End Use:
o In-Vitro Fertilization
o Donor Insemination
• Sperm Bank Market, By Region:
o North America
United States
Canada
Mexico
o Europe
France
Germany
United Kingdom
Italy
Spain
o Asia Pacific
China
India
Japan
South Korea
Australia
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Egypt
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Sperm Bank Market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06482454/?utm_source=GNW
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