A new report on the Fertility Services Market, published by Market Research Future (MRFR), observes that this market could find growth at 8.50% CAGR between 2018 and 2023.
A radical shift in lifestyle has led to a decline in fertility rates. It is anticipated to boost the demand for fertility services over the next couple of years. The decrease in birth rate is projected to have a favorable impact on the expansion of the fertility services market.
Urban lifestyle has prompted the prevalence of chronic diseases which is prognosticated to generate demand for fertility services in the years to come. Increasing awareness about the availability of these services has catalyzed the expansion of the fertility services market in the years to come.
The prominent market enhancing factors for the global fertility services market include growing urbanization, rising numbers of women joining the workforce, the inclination of women for advanced studies, delayed family planning, and reimbursement schemes. Another crucial factor contributing to the market growth include advances in fertility treatment that gives women options to bear children in later years. Such technologies are gaining popularity due to use and endorsement by female celebrities. However, high costs for fertility treatments can affect market growth negatively.
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Increasing Cases of Prostate Cancer
In the wake of rising cases of prostate cancer around the world, the fertility services market will profit to a large extent as this key trend is catching on quite rapidly. A growing number of men are getting affected by prostate cancer, which is one of the most common types of cancers; wherein this factor can have an indirect positive effect on the growth of the market. To elaborate, this cancer can be treated by removing the prostate gland, which results in the declining fertility among men as well as impaired sexual function.
Key Players – Fertility Services Market
The key players operating in the Global Fertility Services Market are
- Cook Medical (U.S.),
- Merck KGaA (Germany),
- Irvine Scientific (U.S.),
- CooperSurgical Inc (U.S.).
- Ferring Pharmaceuticals Inc. (U.S.),
- CARE Fertility Group Limited (U.K.),
- Vitrolife (U.S.)
Manipal Fertility, part of the infertility centers of Manipal Hospitals has recently launched “ANKUR CLINIC”, which are affordable fertility services. This move is aimed at helping economically restricted patients so they can avail infertility treatment at lower prices.
Segments – Fertility Services Market
On the basis of Underlying cause, the Global Fertility Services Market has been segmented into male infertility and female infertility. The female fertility segment has captured over 50% of the market share and is poised to expand at the highest CAGR over the forecast period. The factors that are expected to boost the growth pace of the segment are increasing obesity rate, changes in lifestyle, late pregnancies, etc.
On the basis of treatment type, the fertility services market has been bifurcated into assisted reproductive technology (ART), and infertility drugs. The assisted reproductive technology (ART) segment has been further sub-segmented into IVF, Frozen Embryo Replacement (FER), and Artificial Insemination. It is also expected to lead the growth of the market and had control over 76% market share in 2017. Increasing demand for IVF treatments is anticipated to boost the revenue creation of the segment in the years to come.
Regional Analysis – Fertility Services Market
The Global Fertility Services Market, by region, has been segmented into Europe, Americas, Asia Pacific, and the Middle East & Africa (MEA). Europe holds the largest share of the market and is expected to lead the market growth in the years to come. It is projected to expand at 8.5% CAGR across the review period. The low fertility rate in the region is projected to accelerate revenue creation over the next couple of years. In addition, the implementation of favorable reimbursement policies is also prognosticated to favor market growth.
Americas is projected to retain the second spot in the upcoming years. The developed healthcare system, in conjunction with the adoption of technologies, is expected to influence the expansion of fertility services market positively over the next couple of years. Furthermore, the high obesity rate prevailing in the U.S. is also prognosticated to favor market expansion.
Asia Pacific is forecasted to expand at the highest CAGR during the assessment period. Rapid urbanization, in conjunction with changes in lifestyle, is fueling the need for fertility services in the region. In addition, the increasing number of favorable reimbursement policies is projected to encourage the expansion of the regional market.
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 14
TABLE 2 PRIMARY INTERVIEWS 19
TABLE 3 GLOBAL FERTILITY SERVICES MARKET BY UNDERLYING CAUSE, 2015–2023 (USD MILLION) 33
TABLE 4 GLOBAL FERTILITY SERVICES MARKET FOR FEMALE INFERTILITY, BY REGION, 2015–2023 (USD MILLION) 33
TABLE 5 GLOBAL FERTILITY SERVICES MARKET FOR MALE INFERTILITY, BY REGION, 2015–2023 (USD MILLION) 34
TABLE 6 GLOBAL FERTILITY SERVICES MARKET BY TREATMENT TYPE, 2015–2023 (USD MILLION) 36
TABLE 7 GLOBAL FERTILITY SERVICES MARKET BY ART TYPE, 2015–2023 (USD MILLION) 37
TABLE 8 GLOBAL FERTILITY SERVICES MARKET FOR ART, BY REGION, 2015–2023 (USD MILLION) 37
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LIST OF FIGURES
FIGURE 1 GLOBAL FERTILITY SERVICES MARKET: MARKET STRUCTURE 17
FIGURE 2 RESEARCH PROCESS 19
FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACH 22
FIGURE 4 MARKET DYNAMICS ANALYSIS OF GLOBAL FERTILITY SERVICES MARKET 24
FIGURE 5 VALUE CHAIN: GLOBAL FERTILITY SERVICES MARKET 28
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL FERTILITY SERVICES MARKET 29
FIGURE 7 GLOBAL FERTILITY SERVICES MARKET, BY UNDERLYING CAUSE, 2017 (% SHARE) 32
FIGURE 8 GLOBAL FERTILITY SERVICES MARKET, BY UNDERLYING CAUSE, 2017 & 2023 32
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