Assisted Reproductive Technology Market is poised to grow at a CAGR of 7.5% during the forecast period (2022-2027).
The increased social and economic burden caused by the novel COVID-19 outbreak is gradually becoming a worrisome issue for the health sector. The novel coronavirus invades the target cell by binding to ACE2, which is widely expressed in the ovaries, uterus, vagina, and placenta. Various research studies have been published on the impact of the pandemic on the fertility rate. For instance, in February 2021, a research study published titled "Impact of COVID-19 on female fertility: a systematic review and meta-analysis protocol" stated that SARS-CoV-2 is said to interrupt female fertility through regulating ACE2 and also interfere with ART procedures. Hence, the pandemic has an adverse effect on the market growth however, the market will grow in the long term.
One of the major factors driving the growth of the ART market is the increasing number of infertility cases across the world. For instance, a report published by the United Nation titled “World Fertility and Family Planning 2020” stated that the global fertility rate declined from 3.2 live births per woman in 1990 to 2.5 in 2019. The fertility levels also declined in Northern Africa and Western Asia (from 4.4 to 2.9), in Central and Southern Asia (4.3 to 2.4), in Eastern and South-Eastern Asia (2.5 to 1.8), in Latin America and the Caribbean (3.3 to 2.0), and in Oceania excluding Australia and New Zealand (4.5 to 3.4). In Australia, New Zealand, Europe, and Northern America, fertility in 1990 was already below 2.0 live births per woman, and it remained so in 2019, with an average of 1.8 births per woman in Australia and New Zealand and 1.7 in Europe and Northern America. Hence, the rise in infertility cases across the world is expected to boost market growth over the forecast period.
Other factors such as the rise in the number of single women and same-sex couples and increase in awareness for IVF and surrogacyares expected to drive the growth of the market over the forecast period. In November 2019, according to estimates from the 2019 Current Population Survey Annual Social and Economic Supplement (CPS ASEC), there are 543,000 same-sex married couple households and 469,000 households with same-sex unmarried partners living together. This compares to 61.4 million opposite-sex married and 8 million opposite-sex unmarried-partner households. This is expected to have a positive impact on the ART market in the coming years.
However, high cost and socio-ethical issues coupled with the changing government regulations are likely to hinder the market growth.
The IVF is expected to grow during the forecast period due to the high procedural success rate coupled with continuous advancement. The increasing number of IVF treatments has encouraged more insurance providers to cover these procedures.
Product launch is one of the key factors in the market growth of the segment. For instance, in May 2019, Hamilton Thorne Ltd launched the Dynamic Targeting System (DTS) option for its next-generation LYKOS laser system for the in vitro fertilization clinical market. Similarly, the acquisition is another factor in market growth. For instance, in August 2019, Hamilton Thorne Inc. acquired Planer Limited, one of the leading manufacturers of incubators, control rate freezers, and lab monitoring systems for the assisted reproductive technology (ART) and cell biology markets worldwide. Additionally, In June 2022, the Indian state Odisha constituted a State Appropriate Authority and set up the State Assisted Reproductive Technology and Surrogacy Board. The acts aim at regulating in vitro fertilization (IVF) clinics and prohibit commercial surrogacy. With surrogacy increasingly becoming popular, the Assisted Reproductive Technology (ART) act came as a ray of hope for infertile couples, who have been battling legal, ethical, and social tussles. The IVF and ART clinics will now be registered following the approval of the five-member authority led by the Special Secretary (Public Health) of the Health and Family Welfare department. Hence, such initiatives would increase market growth in the upcoming period.
Hence, the abovementioned developments would increase the market growth in the upcoming period.
North America is expected to hold a major market share in the global brucellosis vaccines market. Factors such as increasing infertility in the region coupled with initiatives by public organizations are likely to increase the market growth in the upcoming period. In March 2022, the National Center for Chronic Disease Prevention and Health Promotion, Division of Reproductive Health published that based on the Centers for Disease Control and Prevention (CDC) 2019 Fertility Clinic Success Rates Report, there were 330,773 assisted reproductive technology (ART) cycles performed at 448 reporting clinics in the United States during 2019, resulting in 77,998 live births (deliveries of one or more living infants) and 83,946 live-born infants. Of the 330,773 ART cycles performed in 2019, 121,086 were egg or embryo banking cycles in which all resulting eggs or embryos were frozen for future use. Although the use of ART is still relatively rare as compared to the potential demand, its use has more than doubled over the past decade. Approximately 2.1% of all infants born in the United States every year are conceived using ART.
Additionally, In May 2021, an article published titled "US birth rate falls 4% to its lowest point ever" stated that according to the Centers for Disease Control and Prevention (CDC) report, In 2020, the general fertility rate in the United States was about 56 births per 1,000 women - the lowest rate on record and about half of what it was in the early 1960s. The decline in birth rates was seen across all measured racial and ethnic groups. Births dropped by 4% among white, black, and Latina women, 9% for Asian women, 3% for Hawaiians and other Pacific Islanders, and 7% for Native American and Alaska Native women. Similarly, in November 2020, an article published by CIC News titled "Canada sees record-low fertility rates same year as record-breaking immigration levels" states that according to new Statistics Canada data the total fertility rate in 2019 was 1.47 birth per woman over the course of her reproductive life.Hence, such a drop in fertility rate would increase the demand for ART treatments which would increase the market growth in the region.
Hence, the above mentioned factors are likely to increase the market growth.
The presence of market players and resources makes the market partially consolidated with the regional presence between the players. The major player in Assisted Reproductive Technology (ART) market includes - Bloom IVF Centre, CooperSurgical Inc., Ferring B.V., Hamilton Thorne Inc., FUJIFILM Irvine Scientific, Inc., Laboratoire CCD, Microm Ltd, Nidacon International AB, OvaScience Inc., and Vitrolife.
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The increased social and economic burden caused by the novel COVID-19 outbreak is gradually becoming a worrisome issue for the health sector. The novel coronavirus invades the target cell by binding to ACE2, which is widely expressed in the ovaries, uterus, vagina, and placenta. Various research studies have been published on the impact of the pandemic on the fertility rate. For instance, in February 2021, a research study published titled "Impact of COVID-19 on female fertility: a systematic review and meta-analysis protocol" stated that SARS-CoV-2 is said to interrupt female fertility through regulating ACE2 and also interfere with ART procedures. Hence, the pandemic has an adverse effect on the market growth however, the market will grow in the long term.
One of the major factors driving the growth of the ART market is the increasing number of infertility cases across the world. For instance, a report published by the United Nation titled “World Fertility and Family Planning 2020” stated that the global fertility rate declined from 3.2 live births per woman in 1990 to 2.5 in 2019. The fertility levels also declined in Northern Africa and Western Asia (from 4.4 to 2.9), in Central and Southern Asia (4.3 to 2.4), in Eastern and South-Eastern Asia (2.5 to 1.8), in Latin America and the Caribbean (3.3 to 2.0), and in Oceania excluding Australia and New Zealand (4.5 to 3.4). In Australia, New Zealand, Europe, and Northern America, fertility in 1990 was already below 2.0 live births per woman, and it remained so in 2019, with an average of 1.8 births per woman in Australia and New Zealand and 1.7 in Europe and Northern America. Hence, the rise in infertility cases across the world is expected to boost market growth over the forecast period.
Other factors such as the rise in the number of single women and same-sex couples and increase in awareness for IVF and surrogacyares expected to drive the growth of the market over the forecast period. In November 2019, according to estimates from the 2019 Current Population Survey Annual Social and Economic Supplement (CPS ASEC), there are 543,000 same-sex married couple households and 469,000 households with same-sex unmarried partners living together. This compares to 61.4 million opposite-sex married and 8 million opposite-sex unmarried-partner households. This is expected to have a positive impact on the ART market in the coming years.
However, high cost and socio-ethical issues coupled with the changing government regulations are likely to hinder the market growth.
Key Market Trends
In-Vitro Fertilization (IVF) Segment is Expected to Grow Steadily in the Forecast Years
The IVF is expected to grow during the forecast period due to the high procedural success rate coupled with continuous advancement. The increasing number of IVF treatments has encouraged more insurance providers to cover these procedures.
Product launch is one of the key factors in the market growth of the segment. For instance, in May 2019, Hamilton Thorne Ltd launched the Dynamic Targeting System (DTS) option for its next-generation LYKOS laser system for the in vitro fertilization clinical market. Similarly, the acquisition is another factor in market growth. For instance, in August 2019, Hamilton Thorne Inc. acquired Planer Limited, one of the leading manufacturers of incubators, control rate freezers, and lab monitoring systems for the assisted reproductive technology (ART) and cell biology markets worldwide. Additionally, In June 2022, the Indian state Odisha constituted a State Appropriate Authority and set up the State Assisted Reproductive Technology and Surrogacy Board. The acts aim at regulating in vitro fertilization (IVF) clinics and prohibit commercial surrogacy. With surrogacy increasingly becoming popular, the Assisted Reproductive Technology (ART) act came as a ray of hope for infertile couples, who have been battling legal, ethical, and social tussles. The IVF and ART clinics will now be registered following the approval of the five-member authority led by the Special Secretary (Public Health) of the Health and Family Welfare department. Hence, such initiatives would increase market growth in the upcoming period.
Hence, the abovementioned developments would increase the market growth in the upcoming period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is expected to hold a major market share in the global brucellosis vaccines market. Factors such as increasing infertility in the region coupled with initiatives by public organizations are likely to increase the market growth in the upcoming period. In March 2022, the National Center for Chronic Disease Prevention and Health Promotion, Division of Reproductive Health published that based on the Centers for Disease Control and Prevention (CDC) 2019 Fertility Clinic Success Rates Report, there were 330,773 assisted reproductive technology (ART) cycles performed at 448 reporting clinics in the United States during 2019, resulting in 77,998 live births (deliveries of one or more living infants) and 83,946 live-born infants. Of the 330,773 ART cycles performed in 2019, 121,086 were egg or embryo banking cycles in which all resulting eggs or embryos were frozen for future use. Although the use of ART is still relatively rare as compared to the potential demand, its use has more than doubled over the past decade. Approximately 2.1% of all infants born in the United States every year are conceived using ART.
Additionally, In May 2021, an article published titled "US birth rate falls 4% to its lowest point ever" stated that according to the Centers for Disease Control and Prevention (CDC) report, In 2020, the general fertility rate in the United States was about 56 births per 1,000 women - the lowest rate on record and about half of what it was in the early 1960s. The decline in birth rates was seen across all measured racial and ethnic groups. Births dropped by 4% among white, black, and Latina women, 9% for Asian women, 3% for Hawaiians and other Pacific Islanders, and 7% for Native American and Alaska Native women. Similarly, in November 2020, an article published by CIC News titled "Canada sees record-low fertility rates same year as record-breaking immigration levels" states that according to new Statistics Canada data the total fertility rate in 2019 was 1.47 birth per woman over the course of her reproductive life.Hence, such a drop in fertility rate would increase the demand for ART treatments which would increase the market growth in the region.
Hence, the above mentioned factors are likely to increase the market growth.
Competitive Landscape
The presence of market players and resources makes the market partially consolidated with the regional presence between the players. The major player in Assisted Reproductive Technology (ART) market includes - Bloom IVF Centre, CooperSurgical Inc., Ferring B.V., Hamilton Thorne Inc., FUJIFILM Irvine Scientific, Inc., Laboratoire CCD, Microm Ltd, Nidacon International AB, OvaScience Inc., and Vitrolife.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Bloom IVF Centre
- CooperSurgical Inc.
- Ferring B.V.
- Hamilton Thorne Inc.
- FUJIFILM Irvine Scientific, Inc.
- Laboratoire CCD
- Microm Ltd
- Nidacon International AB
- OvaScience Inc.
- Vitrolife
- Esco Medical
- Memmert GmbH + Co.KG
Methodology
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