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Assisted Reproductive Technology Market Dynamics: A Fertility Revolution Unveiled
- The global assisted reproductive technology (ART) market is expected to grow rapidly in the next few years, reaching a market size of $91.8 billion in 2028 with a CAGR of 19.2%.
- The prevalence of infertility cases worldwide is a primary driver of the ART market, as an estimated 1 in 6 adults, or approximately 17.5% of the global adult population, grapple with infertility.
The assisted reproductive technology (ART) market is experiencing significant growth with a projected market size of $45.42 billion in 2024, boasting an impressive Compound Annual Growth Rate (CAGR) of 19.4%. This growth is expected to continue, reaching a market size of $91.8 billion by 2028 with a CAGR of 19.2%.
The market is primarily driven by the prevalence of infertility cases worldwide. According to the World Health Organization (WHO), approximately 1 in 6 adults, or 17.5% of the global adult population, grapple with infertility. As a result, there is a growing demand for ART, which encompasses fertility therapies for both male and female reproductive elements.
In addition to infertility, obesity is also contributing to the growth of the ART market. Obesity is linked to irregular menstrual cycles, ovulatory dysfunction, and reduced sperm quality, all of which increase the likelihood of infertility. As obesity awareness grows, individuals and couples are seeking specialized ART services, leading to an increase in market demand.
Major companies shaping the ART market include Cooper Surgical Inc., Ferring Pharmaceuticals Ltd., Hamilton Thorne Ltd., Merck KGaA, Genea Limited, California Cryobank, European Sperm Bank, OvaScience Inc., and Vitrolife AB. These companies play a pivotal role in developing and offering advanced ART solutions.
Technological advancements are redefining the ART industry. Companies are actively developing innovative technological solutions to strengthen their market position. For example, Alife Health has launched the Alife Assist platform, which leverages data-driven insights and artificial intelligence (AI) to revolutionize the in-vitro fertilization (IVF) process. This platform aids clinical decision-making, enhances real-time performance monitoring, and improves success rates in IVF procedures.
Regional dynamics show Europe leading the ART market in 2023, followed closely by North America. The market coverage extends across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The ART market is segmented by diagnosis (ovulation testing, hysterosalpingography, ovarian reserve testing, genetic testing), procedure type (fresh non-donor, fresh donor, frozen donor, frozen non-donor, embryo or egg banking), and end-users (hospitals, fertility clinics, other end-users).
Overall, the ART market is experiencing rapid growth due to the prevalence of infertility cases and the increasing prevalence of obesity. Technological advancements and innovative products from major market players are reshaping the industry. With Europe leading the way, the global ART market is set to expand significantly in the coming years.