Sperm Bank Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The sperm bank market is expected to record a CAGR of 3.3% over the forecast period.

The outbreak of COVID-19 showed an impact on the sperm bank market. COVID-19 not only affected the sperm bank market but the entire healthcare industry. It has disrupted the supply chain, leaving a financial burden on many companies. Due to this pandemic, there were nationwide lockdowns in almost every country. Hence, people were unable to come to sperm banks, hospitals, etc. Non-immediate surgeries were postponed because of the lockdown. Thus, COVID-19 has disrupted both the supply-side and demand-side.

Sperm banks are very much in demand, and they may continue to witness this trend in the forecast period. A key reason for market growth is the growing acceptance of the LGBTQ+ community, as sperm banks allow them to undergo an in-vitro procedure and have a baby. Nowadays, fertility issues are rising year on year, in both males and females alike. Sperm infertility, low sperm count, and several other reasons are prevalent these days. Another key market driver is the advancement in cryopreservation techniques, as governments also spend a lot to address this issue. Hence, the sperm banks market may increase in the forecast period.

Key Market Trends

The Known Donor Segment is Expected to Hold a Major Share in the Market Over the Forecast Period

The known donor segment is contributing the most to its overall market share. In many countries, the changing legal frame supported this segment to grow. For instance, the right of the offspring to know about his/her biological parent may be a key factor for market growth in the forecast period. Moreover, the use of a known donor may let the mother know the medical behavior of the donor. However, due to COVID-19, this segment has been badly impacted due to the lack of donors and women's reluctance toward the ART (artificial reproductive technology) procedure. Hence, both the supply-side and demand-side have been disrupted; hence, the market has been negatively impacted during the pandemic. But, after the pandemic period, this segment may again account for the maximum market share in the forecast period.

After donor, service type accounts for the maximum contribution to the market share. Within this segment, semen analysis is the most demanded. Nowadays, semen analysis is important for undergoing any ART (assisted reproductive technology) procedure. Hence, the market for semen analysis may keep growing in the forecast period. Sperm storage may also show a positive market growth in the forecast period, as there is an increase in the prevalence of infertility, as well as improvements in technology in cryopreservation.

North America is Expected to Retain its Dominance in the Market

North America holds the largest market share in the sperm bank market. The reason behind this is the increase in the number of cases of infertility. In North America, the US comes first, in terms of market share, followed by Mexico and Canada. In 2019, according to the US Department of Health and Human Services, more than 6 million women between the age of 15 and 44 years faced difficulty in conceiving or staying pregnant. Moreover, advancements in technology pertaining to cryopreservation may help the market prosper further in the forecast period.

The Asian market is also showing better growth in the sperm bank market. The increasing awareness about ART (artificial reproductive technology) procedures and low-cost treatments may be the key drivers for the growth of the sperm bank market in the Asia-Pacific region in the forecast period.

Competitive Landscape

The sperm bank market is highly competitive, with many key players dominating the market. The presence of major market players, such as Cryo-Save AG, Androcryos, Indian Spermtech, European Sperm Bank, and Xytex Corporation, among few others, is intensifying the competition. Market players are adopting strategies, such as rising R&D investments, mergers, acquisitions, and product innovations, in order to sustain the increasing market rivalry.

In January 2021, a report was published on serum-free cryopreservation by Merck, ThermoFisher, and Zenoaq. Using this, the sperm can be preserved without blood products. It reduces the risk of cross-species virus infections.

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