Introduction

The global Assisted Reproductive Technology market grew year-on-year due to high prevalence of infertility rate amongst the youth due to drastic change in the lifestyle, especially sedentary lifestyle and growing dependence on the junk and fast food.  The rise in the funding by private as well as government organizations to address these causes, rising awareness and concern about the infertility treatment and surrogacy amongst the youth and middle aged have further fueled its growth.   In this article, discover the latest trends in the assisted Reproductive Technology Market with this comprehensive report. Stay ahead of the competition by understanding the forecast for years to come!

What is Assisted Reproductive Technology?

The Assisted Reproductive Technology includes all fertility treatments in which either eggs or embryos are handled. In general, ART procedures involve surgically removing eggs from a woman’s ovaries, combining them with sperm in the laboratory, and returning them to the woman’s body or donating them to another woman.

The assisted reproductive technology include in vitro fertilization (IVF), artificial insemination (AI-IUI), frozen embryo development, etc. These technologies have been regularly used in fertility centers and surgical centers for the treatment of infertility.

Overview of the Assisted Reproductive Technology (ART) Market

The global assisted reproductive technology market was valued at $28.2 billion in 2022, and it is predicted to reach the figure of $42.5 billion by 2030, riding on the rising awareness about the infertility and its causes amongst the youth and middle aged people across the world. The other crucial factors that contribute to its growth are the huge increase in disposable income to fund these technologies and improving success rate of assisted reproductive technology. There is growing acceptance of assisted reproductive technology in the society as a way to treat both male and female infertility due to adoption of more advanced technologies. For instance, round about 330,773 assisted reproductive technology procedures have been conducted successfully in 448 fertility clinics across the United States.

Key Factors Driving the Growth of the Market

According to a report on rising infertility brought out by World Health Organization (WHO), about 236 million people, including 48 million couples, across the world have been diagnosed with the fertility-related issues. Moreover, about 6-12% women in the United States have been diagnosed with Polycystic Ovary Syndrome (PCOS), obesity, which is another cause of infertility in women of all age groups. Other causes affecting female fertility are endometriosis, Primary Ovary Insufficiency (POC), and smoking habits. The men depending on junk food, beverages, the sedentary lifestyle, insufficient sleep, and obesity are adding more fuel to this fire, as they are increasingly becoming vulnerable to erective dysfunction, decrease in sperm count and quality, reduced sperm motility, sexually transmitted disease (STDs), etc. These factors also contribute the growth of assisted reproductive technology market growth in a big way.

Technological Advancements in ART

Due to the advancements in Medical Sciences, more progress has been made in the frontiers of assisted reproductive technology field.  Henceforth, new techniques such as Pre-implant Genetic Testing (PGT), Endometrial Receptivity Analysis Testing (ERA), Magnetic Activated Cell Sorting (MACS), time-lapse imaging of embryos, intracytoplasmic sperm injection (ICSI), cryopreservation of embryos or gametes, etc. have emerged in assisted reproductive technology market in response to the increased demands for assisted reproductive technology procedures.

Several innovative research activities are going on the ART field in response the huge leap in demand in assisted reproductive technology market. For example, the research in the field of culture media for use in ART lead to the development of a media that has Granulocyte-macrophage Colony-Stimulating Factor (GM-SF) at a lab owned by CooperSurgicals. This media contains essential elements required for development of embryo, which, in turn, will enhance the transmission between endometrium and the developing embryo in the uterine environment. This development is likely to ensure favorable uterine environment for the pregnancy.

Market size and Forecast

According to a report, the North America’s assisted reproductive technology market is believed to reach a value of over $19.5 billion by 2032. The estimated growth may be due to prevailing bad condition of reproductive health in the age group of 15-44 years, growing acceptance of assisted reproductive technology due to its improving success rates. The increasing success rate may be attributed to the refinement in the existing procedures and the advent of new innovative technologies. Being a continent of developed societies that have higher proportion of disposable income, North America is expected to show an organic market growth in the coming years.

The global assisted reproductive technology market is likely to grow at a compound annual growth rate of 5.97% from 2023 to 2030 to reach USD 41.4 billion by 2030.

Competitive Landscape and Key Players in the Market

The key players in the assisted reproductive technology market are developing new strategies like innovative product launches, investing in research, new technology development, and strategic merger and acquisitions by the private players to further expedite the industrial growth in the ART sector. For example, CooperCompanies had completed the acquisition of Generate Life Sciences in 2021 to foray into new fields in the emerging field of assisted reproductive technology, especially to aid its already existing fertility offerings. In another acquisition, CooperSugicals had taken over Embryo Options, a prominent player in cryo-storage software solutions to delve into new area of fertility clinics offerings. In yet another transaction, Hamilton Throne Ltd., a global provider of ART research took over IVFTECH ApS (IVFtech) and its associated firm, K4 Technology ApS in July 2021. IVFtech is develops laminar flow workstations and huge-capacity incubators for the ART with the aid of its associated firm, K4 Technology.  

Other key players in the assisted reproductive technology market include the following.

1.      Cosmos Biomedical Ltd.

2.      FUJIFILM Irvine Scientific

3.      Microm U.K. Ltd.

4.      Cryolab Ltd.

5.      European Sperm Bank

6.      Vitrolife AB

7.      Bloom IVF Centre

8.      Ferring B.V.

9.      Merck KGaA

Conclusion

The assisted reproductive technology market is likely to show an organic growth in the coming years due to growing incidence of infertility amongst the youth across the world due to unhealthy lifestyle, sedentary life, and the growing dependence on junk food, alcohol, cigarettes, and the biological causes. Moreover, the refinement of the assisted reproductive procedure and new innovations make these medical and surgical interventions more successful consistently, giving more hopes for people for making their own progenies. Due to these factors, the global assisted reproductive technology market is poised for grow at a compound annual growth rate of 5.97% from 2023 to 2030 to reach USD 41.4 billion by 2030.