Assisted Reproductive Technology Market Size, Share & Trends Analysis Report By Product (Instrument,  Accessory & Disposable, and Reagent & Media), By Type (IVF,  Artificial Insemination, Surrogacy), By End Users (Hospitals, Fertility Clinics) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global assisted reproductive technology market size was valued at USD 25.4 billion in 2022. It is projected to reach USD 74.09 billion by 2031, growing at a CAGR of 11.3% during the forecast period (2023-2031). Factors such as Increasing Infertility Cases and Rising Awareness of Assisted Reproductive Technology, significantly drives the assisted reproductive technology market demand by 2031.

Assisted reproductive technology (ART) refers to fertility techniques and therapies that can aid in difficult or unsuccessful childbearing. ART procedures manipulate eggs, sperm, or embryos to improve the chances of a successful pregnancy, and a gestational carrier or surrogate may also be involved. Data shows that 10% of American women between the ages of 15 and 44 may have trouble getting pregnant or maintaining their pregnancy. The CDC estimates that 1.9% of all children born in the United States were born using ART. An increase in marital age, rising consumption of alcohol and tobacco leading to infertility, and an increasingly obese population are major factors contributing significantly to the market growth.

Market Dynamics

Assisted Reproductive Technology Market Drivers

Increasing Infertility Cases

Contrary to popular belief, infertility is more common. Today, infertility affects up to one in seven couples attempting to conceive. According to recent studies, 10% of couples were still unable to conceive after 2 years. That has changed significantly from 20 or 30 years ago. In addition, future predictions indicate that infertility will rise. Nearly 10 million couples will have difficulty getting pregnant by 2025. Infertility is primarily caused by poor diet, an elevated BMI, smoking, and excessive alcohol and drug use. Growing older plays a significant role in declining fertility because as women age, the quality of their eggs deteriorates. The normal aging process also increases the likelihood of miscarriage and giving birth to a child who has a genetic disorder.

The CDC reports that aging can also damage men's fertility, so it's not just women who should be concerned. Pregnancy may be more difficult if the male spouse is older than 40. Research has also shown that having a child with a genetic disorder may be influenced by men's sperm quality dropping after age 40.

Rising Awareness of Assisted Reproductive Technology

Assisted Reproductive Technology offers parenthood opportunities for couples unable to achieve or maintain a healthy pregnancy. The awareness about ART, especially IVF and surrogacy, is significantly increasing due to several campaigns run by Governments and NGOs to help people struggling to conceive a baby. In developed countries, women focusing on careers are well aware of surrogacy, and the people from the LGBT community who cannot conceive a baby are adopting the surrogacy procedure to experience parenthood. The growing awareness about ART in developed and developing countries to tackle the rising cases of infertility will drive the growth of the market during the forecast period.

Assisted Reproductive Technology Market Restraint

Health Risks Involved with Assisted Reproductive Technology

Although assisted reproductive technologies (ART) are common practices used all over the world, there are still many safety-related questions that have not yet been resolved. The biggest risk of ART is multiple pregnancies and its consequences, despite the fact that there are many other potential risks as well. Although significant efforts should be made to lower the risk of multiple gestations during IVF, it is also obvious that single-embryo transfers are not always the best option. Additionally, several studies have shown that perinatal outcomes are marginally worse for IVF singletons than for singletons born naturally. The risks relating to IVF and ethical concerns regarding surrogacy can restrain the growth of global market.

Assisted Reproductive Technology Market Opportunities

Innovations in the Assisted Reproductive Technology

The technology of healthcare and healthcare systems is developing and changing constantly. IVF is considered significant in the timeline of the sequential advancement of science and medicine because it has revived the dreams of many childless parents. Preimplantation genetic testing, intracytoplasmic sperm injection, laser-assisted hatching, and other sophisticated IVF techniques are available. The i-womb technology, oocyte activation via cult-active, embryo vitrification, and DNA fragmentation index are now among the new IVF technologies that have been added to the list. These technologies help to increase the likelihood of a successful IVF.

Each stage of IVF requires thoughtful design. The process entails fertilizing the retrieved sperm and eggs in a laboratory setting. Once the embryo has been fertilized, it is left to grow in an incubator that simulates the conditions of a mother's womb. The mother's uterus is carefully prepared for the mature embryos before they are inserted. The preservation of ideal conditions for storing the gametes and developing high-quality embryos becomes essential because the entire IVF procedure is carried out in vitro (in an external setup).

Regional Analysis

The global Assisted Reproductive Technology market share is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Europe Dominates the Global Market

Europe is the most significant shareholder in the global market and is expected to grow at a healthy CAGR during the forecast period. The high share is attributed to an increase in the infertility rate, greater knowledge of fertility treatments, advancements in technology, and encouraging government programs. For instance, the European Union has the highest rate of infertility in the world, with approximately 25 million people, according to the European Society of Human Reproduction and Embryology. In March 2022, The Hospital Clinic de Barcelona came up with a new technique to reverse male infertility with the help of a 4K-3D exoscope for greater precision and patient recovery.

North America is likely to emerge as the second-largest assisted reproductive technology market globally. This can be attributed to the awareness of various fertility options among people and the upgradation of in-vitro fertilization procedures. For instance, in August 2015, Ovascience's treatment AUGMENT was reported to have rejuvenated women's aging egg cells and provided support to eggs with poor quality. As per CDC, about 1 in 5 women aged around 15 to 49 years without any previous pregnancy are unable to get pregnant. The rising infertility cases in the USA will contribute to the growth of global market over the forecast period.

The Asia Pacific assisted reproductive technology market is expected to witness significant growth on account of family planning programs and the low cost associated with the treatment. According to the Indian Society of Assisted Reproduction, currently, 10 to 14 percent of the Indian population is affected by infertility. The rate is higher in urban areas where 1 out of 6 couples is affected. Furthermore, 27.5 million couples are actively trying to conceive in India. In China, many provinces and cities released a new five-year plan for the use of assisted reproductive technology (2021–25) to help address advanced-age fertility issues and infertility following the implementation of the three-child policy.

LAMEA is expected to witness stagnant growth in the assessment period. A thorough study of fertility rates in the region was conducted by ART Fertility Clinics, which has medical facilities in countries throughout the gulf countries. According to research, infertility rates are rising and are more than double the global average in Saudi Arabia, the United Arab Emirates, and other countries in the wider gulf. Experts attribute this trend to people's dietary habits, lifestyle choices, and undiagnosed medical conditions.

Segmental Analysis

The global assisted reproductive technology market is segmented by product, type and end user.

Based on product, the global market is bifurcated into instrument, accessory & disposable, and reagent & media.

The accessory & disposable segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. The larger share is linked to the increase in demand for the in-vitro fertilization process, which helps sperm fertilize the egg and help the fertilized egg to insert into the uterus. Increasing awareness about IVF techniques will contribute to the growth of the ART market.

Based on type, the global assisted reproductive technology market is bifurcated into IVF, artificial insemination, and surrogacy.

The IVF segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. The IVF segment is further divided into the fresh donor, frozen donor, fresh non-donor, and frozen non-donor based on IVF. In 2021, the frozen non-donor segment held a sizable revenue share. The growth is attributable to the advantages of frozen non-donor IVF over other IVF techniques. When a woman releases healthy eggs while receiving ART, the frozen non-donor procedure is used. The IVF market is anticipated to expand further due to advanced IVF protocols like PRP therapy, stem cell therapy, embryoscopy, natural IVF cycles, laser hatching, and the I-womb technique.

Based on end-user, the global market is bifurcated into hospitals and fertility clinics.

The fertility clinics segment is the highest contributor to the market and is expected to grow at a healthy CAGR during the forecast period. The segment is anticipated to grow fastest, maintaining its position as the market leader over the forecast period. The high percentage and quick expansion can be attributed to an increase in infertility cases and the demand for a specialized setting to carry out ART. According to a report by Ernst and Young, fertility clinics have grown by 20% in the last 5 years in India, which will continue to propel the assisted reproductive technology market growth.

Impact of covid-19

The global fetal bovine serum market growth is projected to benefit from the COVID-19 pandemic. Fetal bovine serum is broadly applied in the production of in vitro cell cultures and vaccines. It is added to vaccine growing media as a supplement. Many nations are suffering the consequences of the pandemic, facing massive costs to their economy and healthcare systems due to the high transmission rate and lack of treatment. Many countries are still under siege. They halted trade with other countries and imposed travel restrictions, causing big corporations' market capitalizations to plummet worldwide. However, the situation is steadily improving.

Even though biopharmaceutical innovators are at the forefront of in vitro research and development in the quest for vaccines and antivirals, the present COVID-19 outbreak has a beneficial impact on market growth. In vitro vaccine and antiviral testing typically entails the use of a culture media in which the targeted virus or bacteria is cultured, and the response is monitored. The pharmaceutical industry's increased focus on research and development is driving up demand for culture media, which in turn, is driving up demand for fetal bovine serum.

Recent Developments

• October 2022 : Bloom IVF group launched its artificial intelligence technology across Indian clinics to help patients get pregnant at low cost and to save a lot of time.
• Feburary2022 : CooperSurgical has finalized an USD 85 million deal to acquire Cook Medical’s reproductive health portfolio, such as medical devices for fertility, in vitro fertilization, obstetrics, and gynecology.