Latest News- Assisted Reproductive Technology (Art) Market: Fertility clinics is expected to lead the End-User segment during 2024-2028

The Assisted Reproductive Technology (Art) Market is being driven by Increase in rate of infertility and obesity-related cases

The Assisted Reproductive Technology (Art) Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6295.3 million. The Assisted Reproductive Technology (ART) market has witnessed a significant growth in the number of single parents utilizing fertility clinics. This trend is primarily driven by an increase in divorces and separations in developed countries, resulting in a surge of single-parent families. However, these families encounter various challenges, including financial hardships in providing for their child's needs. Other impediments include limited access to affordable health insurance, difficulty securing child care, and lack of financial support from absent parents. These hurdles necessitate continued support and innovation within the ART industry to ensure accessibility and affordability for all potential parents. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-User
  • Fertility clinics
  • Hospitals
  • Surgical centers
  • Research institutes/labs
  • Cryobanks
• Type
  • IVF
  • Artificial insemination
  • GIFT (Gamete Intrafallopian Transfer)
  • ZIFT (Zygote Intrafallopian Transfer)
  • Surrogacy
  • Donor egg/sperm ART
• Product
  • Instrument
  • Accessory and Disposable
  • Reagents and Media
  • Software
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Netherlands
  • North America
    • US
  • Asia
    • China
    • India
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in rate of infertility and obesity-related cases
• Increase in awareness of ART
• Rise in income level of consumers

However, the market also witnesses some limitations, which are as follows:

• Side effects of infertility treatment
• Lack of strict regulatory oversight and limited reimbursements
• High cost of ART solutions

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Market Scope in Assisted Reproductive Technology (Art) Market Research Report

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Research Analysis Overview

The Assisted Reproductive Technology (ART) market encompasses various procedures including oocyte retrieval, embryo biopsy, sperm freezing, and sperm banking. Donor screening, matching, and legal contracts are essential for donor-assisted treatments. Psychological counseling, support groups, and fertility awareness promote patient well-being. Lifestyle modifications like weight management, stress reduction, and smoking cessation improve chances of success. Factors affecting fertility include age-related decline, male and female infertility, unexplained infertility, tubal factor infertility, ovarian failure, uterine fibroids, immune system disorders, hormonal imbalances, genetic disorders, and environmental toxins. Insurance reimbursement and financial assistance help manage costs, while fertility tourism offers affordable options for those seeking treatment abroad.

Market Research Overview

The Assisted Reproductive Technology (ART) market encompasses businesses involved in the research and development (R&D) or production of essential drugs, including both generic and non-generic varieties, as well as veterinary drugs. According to Technavio, the global pharmaceuticals market, which includes the revenue generated by providers of ART-related equipment, supplies, and services, is projected to expand significantly. Factors driving this growth include the increasing global population aging, with one-quarter of the US population projected to be over 60 years old by 2050, and Europe reaching a similar demographic milestone by 2030. Key ART technologies, such as assisted hatching, embryo cryopreservation, oocyte donation, sperm donation, endometrial receptivity, and ovarian stimulation, will continue to fuel market demand.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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