LONDON, Jan. 17, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s research on the infertility treatment market identifies decline in the global fertility rate as a major driver propelling the growth of the infertility treatment market. The fertility rate at a given age is defined as the number of children born alive to women of that age during the year expressed as a percentage of the average annual population of women of that age. The fertility rate worldwide is declining steadily owing to various factors, such as the growing trend of late marriages and increasing age-related infertility. This declining fertility rate has led to a significant increase in the demand for infertility treatment products that determine the fertility window in males and females. For instance, according to the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, the target fertility rate is 2.1 to replace a generation, however, in 2020 it was only 1.6, which was below average. Furthermore, for the last 70 years, fertility rates have decreased worldwide, with a total 50% decline in 2022. Therefore, the decline in the global fertility rate is driving the infertility treatment market growth.
The global infertility treatment market size is expected to grow from $1.52 billion in 2022 to $1.67 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The infertility treatment market size is expected to grow to $2.3 billion in 2027 at a CAGR of 8.3%.
Technology innovation is gaining popularity in the infertility treatment market trends. Major companies operating in the infertility treatment market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Merck Specialties Pvt. Ltd., an India-based pharmaceutical and chemical products company, launched Pergoveris Pen in India for assisted reproductive technology use. The product is a ready-to-use device that contains both recombinant luteinizing hormone and recombinant follicle-stimulating hormone, and it must be used as directed by an expert in in vitro fertilisation. A globally approved product filled by technology that provides a safer self-administration fertility solution to infertile couples.
The global infertility treatment market analysis is segmented by product into equipment, media and consumables, accessories; by procedure into assisted reproductive technology, artificial insemination, fertility surgeries, other infertility treatment procedures ; by drugs into clomiphene citrate, letrozole, serophene, hormone treatment, other drugs; by patient type into female infertility treatment, male infertility treatment; by end user into hospitals and surgical clinics, cryobanks, research institutes.
Major players in the infertility treatment market are The Cooper Companies Inc., Cook Group, Vitrolife AB, Thermo Fisher Scientific Inc., Esco Micro Pte. Ltd., Genea Biomedx, IVFtech ApS, FUJIFILM Irvine Scientific, The Baker Company Inc., Kitazato Corporation, Rocket Medical plc, IHMedical A/S, Hamilton Thorne Ltd., Carl Zeiss Group, MedGyn Products Inc., DxNow Inc., Nidacon International AB, Gynotec B.V., SAR Healthline Pvt. Ltd., InVitroCare Inc., and Genea Limited.
North America was the largest region in the infertility treatment market in 2022. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the infertility treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Infertility Treatment Market Global Report 2023 by The Business Research Company provides insights on the infertility treatment market size, infertility treatment market segments, infertility treatment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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