Fertility Services Market is expected to register a CAGR of 6.02% during the forecast period and hit USD 37,357.51 Million by 2027.
Fertility services are procedures or treatments incorporated to cure genetic and fertility issues and assist in conception. These services include Assisted Reproductive Technology (ART) methods and drugs that help single parents, infertile couples, and the Lesbian, Gay, Bisexual, and Transgender (LGBT) community in planning a family.
The declining fertility rate, technological advancements in fertility treatments, growth in the median age of first-time motherhood, and rise in obesity and the consumption of alcohol/cigarettes lead to infertility, which is eventually driving the market for fertility services. According to ESHRE, more than 25 million European Union (EU) citizens are affected by infertility. In France, reimbursement/state funding includes six IUI’s (one IUI per menstruation cycle) and four IVF treatments for women under 43 years of age. These factors support the growth of the global fertility services market.
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MRFR recognizes the following companies as the Key Players in the Global Fertility Services Market— Merck KGaA, Cook Medical, Irvine Scientific Company Inc., Copper Surgical, Kitazato Cooperation, Vitrolife, Ferring B. V, Invo Bioscience, Monash IVF Group, and Care Fertility.
Global Fertility Services Market has been divided based on Underlying Cause and Treatment Type. The market, based on the underlying cause, has been segregated into male infertility and female infertility. Based on treatment type, the global fertility services market is segmented into infertility drugs and assisted reproductive technology (ART).
Global Fertility Services Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Europe is likely to hold the largest share of the global fertility services market during the assessment period owing to the lower fertility rate, increasing obesity cases, increasing IVF tourism in Spain, and growth in the median age of motherhood. The America market is expected to register substantial growth in the market owing to the high adoption rate for IVF treatment, late pregnancies, well-established healthcare systems, and declining fertility rates. Asia-Pacific is likely to hold the third-largest share of the global fertility services market. The Middle East & Africa market is expected to witness gradual growth due to a well-developed healthcare sector and continuously declining fertility rates. For instance, according to the data mentioned by the World Bank, the fertility rate in the UAE reduced from 6.9% in 1960 to 1.7% in 2016.
Key Findings of the Study
- Global Fertility Services Market was valued at USD 26,332.00 Million in 2019 and is expected to register a CAGR of 6.02% during the assessment period
- Europe accounted for the largest share of the global market due to the lower fertility rate, increasing obesity cases, increasing IVF tourism in Spain, and growth in the median age of motherhood
- Based on underlying cause, the male fertility segment is expected to register the highest CAGR of 6.23% during the forecast period
- Based on treatment type, the ART segment accounted for the largest market share at a value of USD 19,777.39 Million in 2019
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