Allied Market Research recently published a report, titled, “Assisted Reproductive Technology (ART) Market by Product (Instrument, Accessory & Disposable, and Reagent & Media), Technology (In Vitro-Fertilization, Artificial Insemination, and Others), and End User (Fertility Clinic, Hospital, Surgical Center, and Clinical Research Institute): Global Opportunity Analysis and Industry Forecast, 2021––2030″. According to the analyst of AMR, the global Assisted Reproductive Technology (ART) industry generated $2.3 billion in 2020, and is anticipated to generate $12.2 billion by 2030, witnessing a CAGR of 19.3% from 2021 to 2030.
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- The outbreak of the Covid-19 pandemic led to impact positively on the global Assisted Reproductive Technology (ART) industry, owing to multiple strategic steps made by organizations.
- The government authorities across different countries have approved Assisted Reproductive Technology (ART) for the treatment of infertile couples, which in turn, has offered lucrative opportunities for the growth of the market, during the pandemic period.
- Moreover, in the post COVID era, the market is anticipated to witness exponential growth, majorly due to the success rate of assisted reproductive technologies.
- The Accessory and Disposable segment to maintain its leadership status throughout the forecast period
Assisted Reproductive Technology (ART) Market Overview:
Surge in prevalence of infertility rate, technological advancements in Assisted Reproductive Technology (ART), growth in disposable income, and rise in awareness regarding infertility treatment drive the growth of the global Assisted Reproductive Technology (ART) market. However, high cost of ART procedures and risk associated with IVF treatment hinder the market growth. On the other hand, growing opportunities in emerging markets and rise in fertility tourism present new opportunities in the coming years.
Assisted Reproductive Technology (ART) Market Segmentation:
The fertility clinics segment to maintain its lead position during the forecast period
Based on end-user industry, the fertility clinics segment accounted for the largest share in 2020, contributing to more than half of the global Assisted Reproductive Technology (ART) market, and is projected to maintain its lead position during the forecast period. This is due to rise in prevalence of fertility cases, the surge in sedentary lifestyle, and growth in number of fertility clinics. Moreover, this segment is expected to portray the largest CAGR of 20.5% from 2021 to 2030.
The accessory and disposable segment held the lion share in 2020
Based on product, the accessory and disposable segment held the highest market share in 2020, accounting for more than half of the global Assisted Reproductive Technology (ART) market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in prevalence of infertility, surge in demand for in vitro fertilization procedures such as retrieval of oocytes, analysis & screening of sperms, handling gametes, and others. However, the instrument segment is projected to manifest the highest CAGR of 23.10% from 2021 to 2030, owing to increase in demand for frozen embryo transfer, rise in prevalence of infertility, and surge in number of IVF procedures.
Europe, followed by North America, to maintain its dominance by 2030
Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global Assisted Reproductive Technology (ART) market. This is due to increase in utilization of novel technology equipment service, surge in incidence of infertility cases, high disposable incomes, rise of funds from government and private organizations for in-vitro fertilization (IVF), and advancements in technology for infertility. However, the Asia-Pacific region is expected to witness the fastest CAGR of 21.3% during the forecast period, owing to increase in incidence of infertility cases, rise in awareness about surrogacy, and surge in demand for Assisted Reproductive Technology (ART).
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Assisted Reproductive Technology (ART) Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Assisted Reproductive Technology (ART) Market Report:
What is the Assisted Reproductive Technology (ART) market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Assisted Reproductive Technology (ART)?
Key market players discussed in the Assisted Reproductive Technology (ART) Market report include Cook Medical Inc., Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Genea Biomedx, Merck KGaA (EMD Serono, Inc.), Millendo Therapeutics, Inc., Oxford Gene Technology Progyny Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Thermo Fisher Scientific, Inc., Vitrolife AB.
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