(PharmaNewsWire.Com, November 23, 2020 ) The infertility treatment market is expected to grow from USD 1.5 billion in 2018 to USD 2.2 billion by 2023, at a compound annual growth rate (CAGR) of 8.0% during the forecast period.
Growth in the infertility treatment market is primarily driven by factors such as the declining global fertility rate; rising number of fertility clinics worldwide; technological advancements; and increasing public-private investments, funds, and grants.
By patient type, female infertility treatment is expected to hold the larger share in the infertility treatment market
Infertility is one of the common conditions diagnosed among women. The growing female infertility rates, availability of a variety of treatment options, increasing awareness among women about infertility treatments, and the growing number of fertility centers are the major factors contributing to the growth of this segment.
By end user, hospitals and surgical clinics are expected to second largest contributor to the infertility treatment market
Infertility treatments in hospitals are supported by other departments (such as neonatal intensive care units), and hospitals offer complete maternity treatment till childbirth. Initiatives undertaken by governments to increase the number of hospitals equipped to perform infertility treatment procedures such as IVF.
North America is expected to hold a significant share in the infertility treatment market during the forecast period
Factors such as decreasing fertility rates, growing median age of first-time pregnancy, increase in healthcare expenditure, and presence of major players in this region (such as The Cooper Companies, Inc., Cook Group Incorporated, and Hamilton Throne Ltd.) are driving the growth of the infertility treatment market in North America.
The Cooper Companies Inc. (US), Cook Group Incorporated (US), Vitrolife AB (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato (Japan), Rocket Medical Plc (UK), IHMedical A/S (Denmark), Hamilton Throne Ltd. (US), MedGyn Products, Inc. (US), ZEISS Group (Germany), and SoMATEX Medical Technologies GmbH (Germany), among others.
Recent Developments:
In March 2018, Vitrolife AB (Sweden) received approval for the sale of its time-lapse incubator EmbryoScope+ in the US. Through this the company expanded its product sale and market visibility in the US infertility treatment market. In March 2018, Genea Limited (Australia) expanded its market presence in Melbourne by establishing a new fertility clinic in Melbourne In April 2018, Baker Ruskinn (UK) entered into a partnership with I&L Biosystems UK Ltd. (UK) as its UK sales partner with the aim to expand its sales and distribution and strengthen its presence in the UK market Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=43497112
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