In a recent published report, Kenneth Research has updated the market report for Fertility Services Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fertility Services Market products.
Fertility services include various procedures utilized to treat fertility issues in men and women and assist with the conception. The rise in the infertility rate is mainly due to the increase in risk factors, such as obesity, stress, Polycystic Ovarian Syndrome (PCOS), sexually transmitted infections, endometrial tuberculosis, and other medical conditions. These services have been attracting a great deal of attention in the recent years owing to the growing demand for fertility treatments, declining fertility rates, continuous advancements in fertility treatment devices, and growing success rate for IVF treatments. The rise in the rate of infertility and surrogacy in developing countries, increasing occurrences of reproductive tourism, and high success rate of fertility treatments are the major factors driving the growth of the global fertility services market. Moreover, the changing lifestyle and increased age of parenthood contribute to the growth of the market.
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Moreover, increasing education levels in women and employment rates also affect the fertility rate as they lead to late family planning. For instance, according to the National Center for Health Statistics, in the US, the fertility rate was 60.2 births per 1,000 women in 2017. The rate dropped by 2% as compared to the fertility rate in 2015 which was 62.5 births per 1,000 women in 2015. Moreover, as per the statistics presented by the World Bank, India had a fertility rate of 3.311 in 2000 whereas in 2016 it declined to 2.326. The fertility rate in China was 2.35 in 1990 which declined to 1.624 in 2016. This downfall in the fertility rate increases the concern of people towards infertility, which also fuels the demand for fertility services.
On the other hand, the high cost related to Assisted Reproductive Techniques (ART) may hinder the growth of the global fertility services market. For instance, as per the data revealed by the Monash IVF Australia, the initial IVF cycle costs approximately AUD 4,461 and the subsequent IVF cycle after Medicare safety costs approximately AUD 3,895. Moreover, according to the CARE Fertility Group Limited, IVF treatments cost EUR 3,000 to 3,450, Intrauterine Insemination (IUI) costs EUR 800 to 850, and intracytoplasmic sperm injection costs EUR 1,150 to 1,350.The global fertility services market is expected to register a CAGR of 8.50% during the forecast period from 2018 to 2023.
Some of key the players in the global fertility services market are Merck KGaA, Cook Medical, Irvine Scientific sales Company, Inc., CooperSurgical, CARE Fertility Group Limited, Ferring Pharmaceuticals, Vitrolife, and others.
• To provide a detailed analysis of the market structure along with the forecast of various segments and sub-segments of the fertility services market
• To provide insights into factors affecting the market growth
• To analyze the global fertility services market based on various tools such as supply chain analysis and Porter’s five force analysis
• To provide historical and forecast revenue of market segments and sub-segments with respect to regions and their respective key countries
• To provide country-level analysis of the market with respect to current market size and future perspective
• To provide country-level analysis of the market for segments by underlying cause, treatment type, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the fertility services market
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• Medical Devices Companies
• Government Research Institutes
• Research and Development (R&D) Companies
• Academic Institutes and Universities
• The global fertility services market is expected to reach USD 36,458.83 million by 2023 at a CAGR of 8.50% during the forecast period.
• On the basis of underlying cause, the female infertility segment is expected to command the largest market share of 54.0% over the review period and is expected to register a CAGR of 8.31% during the forecast period from 2018 to 2023.
• On the basis of treatment type, the assisted reproductive technology (ART) segment is expected to command the largest market share of 76.4% over the review period, and the infertility drugs segment is expected to register the fastest CAGR of 8.83% during the forecast period from 2018 to 2023.
• On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. In 2017, the market was led by Europe with a 34.7% share.
ï‚§ Western Europe
o Rest of Western Europe
ï‚§ Eastern Europe
ï‚§ North America
ï‚§ Latin America
ï‚§ Republic of Korea
ï‚§ Rest of Asia-Pacific
• Middle East & Africa
ï‚§ Middle East
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