OTTAWA, Feb. 10, 2021 (GLOBE NEWSWIRE) — The global fertility market size was valued at USD 33.1 billion in 2020.
What is Fertility?
Fertility is the inherent capacity to produce offspring. The number of offspring born per mating pair, adult or population is the fertility rate. The lack of reproduction is infertility. Factors such as diet, sexual activity, consanguinity, history, biology, endocrinology, pacing, atmosphere, lifestyle, and emotions rely on human fertility. For the treatment of infertility, fertility services are given to the persons who are incapable to conceive baby naturally. These services make it possible to develop and build a family for not only for the LGBT communities but also for infertile couples and single parents as well.
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What are the Growth Factors of Fertility Market?
Declining fertility rates worldwide is a major factor driving growth of the target industry. Infertility is a person’s failure to achieve therapeutic pregnancy. The fertility amount calculates the average number of children per mother. Fertility rates across the globe are regularly decreasing due to many reasons, for example the escalating pattern of late marriages and increasing age related infertility. Developed countries such as U.S. Russia, Canada, Italy, etc. are likely to have a lesser fertility rate owing to lifestyle adoptions. Higher education along with professional careers frequently means that females have kids late in lifespan. This can outcome in a demographic financial paradox. This falling fertility rate has led to a noteworthy increase in demand for fertility service in both males and females. This is a major factor driving growth of the global fertility industry market. Rising number of fertility clinics worldwide, coupled with technological advancements across the globe, are factors expected to boost growth of the global market over the forecast period. Awareness among the people in the developed as well as emerging economies regarding infertility treatment is increasing at rapid pace. This has resulted into increased numbers of fertility treatment clinics worldwide, which is anticipated to boost growth of the global market. Changing life style across the globe has become a major cause behind infertility. According to the data published by National Center for Biotechnology Information (NCBI), over 15% of pairs are affected by fertility problems across the globe. Lifestyle factors are laying vital role in the development of infertility. Lifestyle aspects are the changeable practices and habits of life that can critically influence complete health and well-being, including fertility.
|•||On the basis of type, assisted reproductive technology segment is expected hold largest revenue share in the forecast period of time 2021-2030. This growth is mostly attributed to accessibility of genomic analysis enabling the inhibition of the transfer of hereditary disease throughout in-vitro fertilization use has motivated growth of the segment.|
|•||On the basis of end-user, fertility clinics segment accounted for the largest revenue with weighty share in 2020. This is attributed to increasing initiatives by regulatory bodies to upsurge the number of hospitals providing treatment of IVF and by growing number of surgical centers. Clinical research institute end user segment is expected to grow more than 3% CAGR during the forecast time-frame.|
|•||Boston IVF Fertility Clinica foremost player in the global industry estimated for the remarkable share of the global market. The growth is accredited to various commercial strategies adopted by the company.|
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The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America conquered the global market with a market share of more than 35%. United States signified as the highest shareholding country in the North America region primarily due to growing number of campaigns initiated by government and non-profit health care organizations such as Fertility Matters to raise awareness of medications and fertility treatment in the country of the North America. Asia Pacific fertility industry market is estimated to grow at noteworthy rate of growth in the next 10 years. The China fertility industry market is anticipated to dominate in terms of revenue in the Asia Pacific region. Increasing the prevalence of obesity in the countries of the region is a main driver growth of the APAC. Nevertheless, use of fertility treatment options by single parents in this region is creating growth opportunities in the target market. Latin America and the African and Middle Eastern region will show perceptible growth over the forecast period owing to rise in the incidence of infertility in the countries including Brazil, Mexico, and GCC, of the regions.
Key Market Players and Strategies:
The key companies functioning in the worldwide fertility are San Diego Fertility Center, Cook Medical, FUJIFILM IRVINE SCIENTIFIC, LifeGlobal Group (Cooper Surgical), Celmatix, Progyny Inc. Carolinas Fertility Institute, INVO Bioscience, Boston IVF Fertility Clinic among others. Investment in the research and development of the fertility along with strategic collaborations are the crucial business strategies undertaken by the major players operating in the fertility market.
|•||Assisted Reproductive Technology|
By End user
|•||Clinical Research Institutes|
|•||Rest of Europe|
|•||Rest of Asia Pacific|
|•||Rest of Latin America|
|•||Middle East & Africa (MEA)|
|•||Rest of Middle East & Africa|
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