Assisted Reproductive Technology Market to Grow by $8.23 Billion by 2027, Driven by Rising Infertility Rates and Obesity-Linked Cases, Says Technavio Research
The global Assisted Reproductive Technology (ART) market is projected to witness significant growth in the coming years, with a predicted surge of $8.23 billion from 2022 to 2027, according to a report by Technavio Research. The market is expected to grow at a CAGR of 5.79% during the forecast period.
The rising infertility rates and cases linked to obesity are key factors contributing to the market’s growth. As a result, there is an increased demand for various procedures such as In Vitro Fertilization (IVF), Gamete Intrafallopian Transfer (GIFT), Intracytoplasmic Sperm Injection (ICSI), Artificial Insemination, and more. These advancements in reproductive technology cater to the expanding needs of individuals seeking fertility solutions, further driving the market’s trajectory.
In a recently published report, Technavio offers an up-to-date analysis of the current market scenario, highlights the latest trends and drivers, and provides insights into the overall market environment. The report also includes a free PDF sample for interested readers.
According to the report, Europe is estimated to contribute 32% to the growth of the global ART market during the forecast period. The increasing elderly population in the region is facing infertility issues due to declining egg quality, adversely impacting couples’ ability to conceive. Italy, the UK, Germany, France, and Spain are the largest contributors to the regional market.
The market is segmented by application (fertility clinics, hospitals, and others), type (IVF and artificial insemination), and geography (Europe, North America, Asia, and the Rest of the World). The fertility clinics segment is projected to witness significant growth, driven by the rise in infertility clinic success rates worldwide, attracting more patients seeking infertility treatment.
One of the leading trends in the market is the increase in the number of single-parent families, which is driving the demand for services like Egg Freezing, Sperm Freezing, Donor Egg, Donor Sperm, and more. Additionally, the report highlights significant challenges, such as mitigating side effects linked to infertility treatments like Surrogacy.
In conclusion, the global Assisted Reproductive Technology market is set to witness substantial growth in the coming years, driven by rising infertility rates and obesity-linked cases. The market offers various procedures to meet the increasing demand for fertility solutions. Europe is expected to contribute significantly to the market’s growth, with Italy, the UK, Germany, France, and Spain leading the way. For further insights and analysis, readers can refer to the full report available for purchase on the Technavio website.
Analyst comment
Positive news. The Assisted Reproductive Technology market is projected to grow by $8.23 billion by 2027, driven by rising infertility rates and obesity-linked cases. The market is expected to grow at a CAGR of 5.79%. Europe is estimated to contribute 32% to the market’s growth. Fertility clinics segment is projected to witness significant growth. The increase in the number of single-parent families is also driving demand. Mitigating side effects linked to infertility treatments is a challenge. Overall, the market is set to witness substantial growth in the coming years.
