Indulging in urban lifestyle has benefitted, as well as, adversely affected the populace in many ways, and one such instance is dipping fertility rate. This has resulted in a widespread awareness which is currently fueling the global fertility services market. It is expected to assist the market in scaling the market valuation to USD 36458.83 million by the end of the review period (2018-2023), asserts Market Research Future (MRFR).
Rapid urbanization across the world is triggering changes in lifestyle, but its effect is not always felicitous. Its mal-effects operate on multiple levels, and one such is fertility. The fertility rate is dauntingly dipping raising many eyebrows. Along with it, the rise in literacy and employment level of women pushed family planning to the backseat for many, and late pregnancy is causing real troubles. Environmental changes are also proving to be really distressing and are quickly becoming major reason behind the growing infertility numbers.
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Technological advancement is playing a pivotal role in fueling the market. Recent advances in in-vitro fertilization (IVF) has resulted in pre-implantation genetic screening (PGS), which allows the researchers to take a look at the embryos and choose accordingly the best one to increase the chance of pregnancy.
However, the expensive technological process can restrain many couples in developing countries to get benefits from this procedure. This can be a market deterrent. But reimbursement schemes for the procedures can create growth opportunities.
The industry is continually witnessing upgradation as the research and developments operated by various government institutions, and private firms are introducing new technologies every year. For instance, in 2017, Merck KGaA announced the approval of their latest product Pergoveris which is a blend of follicle-stimulating hormone (FSH) and luteinizing hormone (LH) hormone and is available in liquid form.
Merck KGaA, Cook Medical, Irvine Scientific sales Company, Inc., CooperSurgical, CARE Fertility Group Limited, Ferring Pharmaceuticals, Vitrolife, and others.
The global market for fertility service can be segmented by underlying cause and treatment type.
Based on the underlying cause, the market comprises female infertility and male infertility. Female infertility in 2017 held the maximum market share of 54% and is expected to grow at an impressive CAGR of 8.31% during the forecast period. Increased age of motherhood and stress level, the prevalence of obesity and other medical causes are influencing the market considerably.
On the basis of treatment type, the market includes infertility drugs and assisted reproductive technology (ART). The ART has dominance over the market with 76.4% share and is expected to grow with an astounding CAGR of 8.40% during the forecast period. Growth in IVF treatments can bring in favorable winds for the segment.
Geographically, the market spans across Europe, North America, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Europe assumes the role of the market leader and is expected to register a healthy CAGR of 8.50% during the assessment period. Factors such as low fertility rate and adoption of IVF are factors triggering the growth of the market.
The Americas hold the second position. Well-developed healthcare infrastructure, obesity causing hormonal imbalance, and the rising number of LGBT community marriages are fueling the growth of the regional market.
The APAC is the fastest growing region, and the region is expecting a staggering growth rate of 9.04% in the foreseeable future. A huge population base, gynecological problems, and inclusion of the latest technologies in countries such as India are promoting the business regionally.
TABLE OF CONTENTS
1 Report Prologue
2 Executive Summary
3 Market Introduction
3.1 Definition 16
3.2 Scope Of The Study 16
3.3 Assumptions & Limitations 16
3.3.1 Assumptions 16
3.3.2 Limitations 16
3.4 Market Structure 17
4 Research Methodology$ 0.00
4.1 Research Process 19
4.2 Primary Research 20
4.3 Secondary Research 21
4.4 Market Size Estimation 22
4.5 Forecast Model 22
5 Market Dynamics
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