Infertility Services Market to See Strong Expansion Through 2026

July 27, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Infertility Services Market.

It was estimated prior to this unanticipated outbreak that the Infertility Services Market is projected to grow at a CAGR of 8.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Infertility services mainly involve various medical procedures to treat genetic and fertility issues and help with the conception of a baby. These services primarily consist of assisted reproductive technology (ART) methods, which help single parents and couples across the globe. Infertility services also help conceive a baby to infertile couples and the Lesbian, Gay, Bisexual, and Transgender (LGBT) community in planning a family.

Market Dynamics
The declining fertility rate is one of the key drivers of the infertility services market growth. Also, the growing number of fertility clinics across the globe, rising public-private investments, funds, and grants; and technological advancements are other factors that augment the infertility services industry. Moreover, the rise in the prevalence of delayed pregnancies and growth in infertility rates further boost the market expansion. However, the expensive procedural cost of ART procedures is likely to hinder the industry growth.

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Segment Analysis
By patient type, the global infertility services market has been bifurcated into females and males. Under these, the female segment held the highest market share in 2020 and is projected to grow at a healthy CAGR during the assessment period. Infertility is one of the most common medical conditions diagnosed among women. Availability of a broad variety of treatment options, rising awareness about infertility treatments, growing female infertility rates, and the increasing number of fertility centers facilitate the growth of this segment.

By region, the North America market held the largest market share in 2020 and is likely to register a steady CAGR in the coming years. This is mainly attributed to the increasing adoption rate for IVF treatment, well-established healthcare facilities, late pregnancies, and decreasing fertility rates. According to the National Center for Health Statistics, the birth rate in the US in 2015 was around 12.5 per 1,000, whereas the fertility rate was 62.5 births per 1,000 women. Thus, poor infertility rates, drives the regional infertility services growth.

Key Players:
Key players operating in the global Infertility Services market are-
• Cook Group Incorporated (The U.S),
• Esco Micro Pte. Ltd. (Singapore),
• Genea Limited (Australia),
• Hamilton Throne, Ltd. (The U.S),
• Ihmedical A/S (Denmark),
• Irvine Scientific (The U.S),
• IVFTech Aps (Denmark),
• Kitazato Corporation (Japan),
• Medgyn Products, Inc. (The U.S),
• Rocket Medical PLC (UK).