July 2022
07 Oct 2024
The global surrogacy market surpassed USD 17.55 billion in 2023 and is predicted to attain around USD 157.37 billion by 2033, growing at a CAGR of 24.53% during the forecast period. The need for surrogacy services has expanded as non-traditional family arrangements, such as same-sex couples and single people, are becoming more and more accepted. The overall expansion in technology’s adoption across the globe is seen to support the growth of the surrogacy market.
The surrogacy market revolves around the offering of medical services to the couples that found it medically complicated to reproduce. The market has grown due to improvements in surrogacy accessibility and efficacy brought about by medical and reproductive advancements. The surrogacy market produces significant economic activity, including the creation of jobs in the legal, medical, and support services sectors and sizable financial transactions associated with surrogacy agreements.
Growing acceptance and legalization of same sex marriages in various countries is driving the surrogacy market
Same-sex couples are turning more and more to surrogacy to establish families as same-sex marriage gains acceptance and legal status. Same-sex male couples cannot conceive naturally, unlike heterosexual couples. Hence, a surrogate must be used to carry and deliver the child. The demand for surrogates from same-sex couples is rising, which helps to fuel the market's rise. Surrogates and intended parents enjoy additional legal rights in many places where same-sex marriage is permitted. A more secure atmosphere for all parties participating in surrogacy agreements is created by this legal clarity and protection, which encourages more same-sex couples to consider this option.
Recent Innovation in the Surrogacy Market by Boston IVF
Company Name | Boston IVF |
Headquarters | Waltham, Massachusetts |
Development | In December 2023, Boston IVF, the world-famous fertility treatment provider, announced its partnership with Springfield, Massachusetts's Baystate Health. This strategic partnership involves transferring the Springfield, Massachusetts, Baystate Reproductive Medicine Program to the Boston IVF Network. This cooperation represents an important turning point in the development of reproductive healthcare in Western Massachusetts. |
Recent Innovation in the Surrogacy Market by IVI RMA
Company Name | IVI RMA |
Headquarters | Valencia, Spain |
Development | In November 2023, Fresenius, a healthcare firm, and IVI RMA inked a definitive deal for IVI RMA to purchase the North American Operations of Eugin firm, which includes the Toronto-based TRIO and the Boston IVF fertility network. The company's commitment to offering evidence-based fertility options with the highest likelihood of success for the greatest number of patients will be strengthened by the strategic additions, which will assist IVI RMA in becoming a top fertility organization in North America. |
North America dominated in the surrogacy market in 2023. Women who have considered surrogacy find it more appealing because so many surrogacy firms in North America provide complete financial support and insurance alternatives for surrogates. Due to ongoing research and development in reproductive technologies and procedures, North America is at the forefront of the reproductive sector. Genetic screening, embryo transfer methods, and other advances keep improving the security and success of surrogacy.
Europe held a notable share in the surrogacy market during the forecast period. The public and medical communities are coming around to surrogacy in several European countries. This acceptance contributes to developing a favorable atmosphere for intended parents and surrogates alike. Using their reputations for excellence and dependability, several European surrogacy companies aggressively promote their services abroad to draw clients from nations where surrogacy may be more difficult or expensive.
Asia- Pacific shows lucrative growth in the surrogacy market during the forecast period. Asia-Pacific draws clients worldwide with its affordable costs, legal benefits, and top-notch medical care. Individuals and couples from nations where surrogacy is either illegally prohibited or unreasonably expensive are increasingly choosing to travel to this region. Government incentives and rules are in place in certain countries to support and control the surrogacy sector. By defending the rights of all parties and advancing moral behavior, these programs hope to create a more secure and alluring business environment.
Expansion of legal frameworks
Increasing the scope of legal frameworks contributes to establishing definite, enforceable rights and obligations for surrogacy participants. Clinics, surrogates, and potential parents may all feel more confident due to this improved legitimacy. Legal frameworks frequently include norms and instructions for conduct. The surrogacy industry is more professionally run because agencies and clinics are held to ethical and regulatory standards. Investor willingness to invest in surrogacy services and related technology may increase as the legal environment improves, further propelling market expansion.
Report Attribute | Key Statistics |
Market Revenue in 2024 | USD 21.85 Billion |
Market Revenue by 2033 | USD 157.37 Billion |
CAGR | 24.53% |
Quantitative Units | Revenue in USD million/billion, Volume in units |
Largest Market | North America |
Base Year | 2023 |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
By Type
By Technology
By Age Group
By Service Provider
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