Published Date : 22, 2022
The global fertility market size was reached at USD 26.88 billion in 2020 and it is expected to hit around USD 45.40 billion by 2027 with a CAGR of 4.7% over the forecast period 2021 to 2027.
The rising investments towards the healthcare industry for the treatment of the infertility are significantly driving the growth of the global fertility market. The rising infertility incidences owing to the changing lifestyle, rising government initiatives in improving reimbursement policies, and growing awareness regarding the availability of advanced fertility treatments are the prominent factors that are responsible for the growth of the global fertility market. The incidences of infertility is growing rapidly owing to the growing focus of women towards career, late marriages, late pregnancy, rising pollution levels, and bad consumption habits. The rising number of fertility clinics and hospitals across the globe is positively impacting the market growth. The rising technological advancements in the field of fertility is propelling the demand for the fertility products and services across the globe. The rising investments in the development of healthcare infrastructure and improved access to technologically advanced diagnostic equipment and therapeutics is contributing towards the growth of the fertility market.
On the basis of offering, the assisted reproductive technology segment dominated the global fertility market. The huge demand for the assisted reproductive technology owing to its increased awareness and demand has resulted in the dominance of this segment. The rapidly growing awareness regarding the in-vitro fertilization across the globe is significantly boosting the growth of this segment.
Based on the end user, the fertility clinics segment dominated the global fertility market. This growth is primarily attributed to the increased penetration of the fertility clinics across the globe. The surging infertility rates is offering huge growth opportunities to the market players and hence the investments are increasing in the expansion of fertility clinics across the developing markets like Asia Pacific, Africa, and Latin America.
North America was the largest fertility market in 2019. North America is witnessing a significant change in the lifestyle of the consumers, rising prevalence of smoking and alcohol consumption, late marriages, growing women focus on career, and late marriages. All these factors are resulting in the increased prevalence of infertility in the developed markets like US and Canada. The increased healthcare expenditure, high disposable income, presence of advanced healthcare infrastructure, and the favorable government policies pertaining to the reimbursements are the major factors that has driven the growth of the North America fertility market. Furthermore, the increased penetration of the fertility clinics in the region and increased consumer preference for the treatments in these fertility clinics has fostered the overall growth of the market.
Asia Pacific is expected to be the fastest-growing market during the forecast period. The countries like China and India is witnessing increasing investments towards the advancement of the healthcare infrastructure. The declining fertility rates in the countries like Japan and South Korea is offering lucrative growth opportunities to the market players. The rising healthcare expenditure and improvements in the reimbursement policies is expected to fuel the growth of the Asia Pacific fertility market in the forthcoming years.
Future of Fertility Market
The various developmental strategies like partnerships, acquisitions, mergers, collaborations, and product launches adopted by the top market players significantly contributes towards the growth of the market. The growing number of various developmental strategies by the top players is estimated to offer various growth aspects to the market players in the forthcoming future.
Scope of the Report
|Market Size in 2020||USD 26.88 Billion|
|Revenue Forecast by 2027||USD 45.40 Billion|
|CAGR||4.7% from 2021 to 2027|
|Market Segmentation||Offering, End user, Region|
|Key Players||Boston IVF Fertility Clinic, INVO Bioscience, San Diego Fertility Center, Celmatix, FUJIFILM IRVINE SCIENTIFIC, Carolinas Fertility Institute, Progyny Inc., Cook Medical, LifeGlobal Group (Cooper Surgical)|
COVID-19 Impact Analysis:
Key Developments in the Marketplace:
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