(PharmaNewsWire.Com, March 09, 2021 ) 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.
According to the latest market research of MarketsandMarkets, “The market for 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.”
Infertility Treatment Market by Product (Equipment, Media, Accessories), Procedure [ART (IVF, ICSI, Surrogate), Insemination, Laparoscopy, Tubal Ligation], Patient Type (Female, Male), End User (Fertility Clinics, Hospitals, Cryobanks) - Forecasts to 2023
By product, the media and consumables segment is expected grow at the highest rate during the forecast period
Commercially available culture media has various components, including nutrients, vitamins, and growth factors. The growth of this segment is attributed to the increasing awareness of infertility treatment and diagnosis globally. Another factor contributing to the market growth of this segment is the easy availability of different media and consumables across various regions.
By procedure, artificial insemination is expected to be the second largest contributor to the infertility treatment market
The key factors attributed to the large share of this segment include limited risk of complications during pregnancy and high success rate achieved by the couple. The artificial insemination market is subsegmented into three major types, namely, intrauterine insemination, intracervical insemination, and intratubal insemination.
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 devices treatment market in North America.
Leading Players
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.
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