Allied Market Research recently released a report titled, “Assisted Reproductive Technology (ART) Market by product (instrument, accessory and disposable, and reagent and medium), technology (in vitro fertilization, artificial insemination and others) and end user (fertility clinic, hospital, surgical center and clinical research institute): analysis of global opportunities and Industry Forecast, 2021––2030″. According to AMR analyst, the global Assisted Reproductive Technology (ART) industry generated $2.3 billion in 2020 and is expected to generate $12.2 billion by 2030, with a CAGR of 19. 3% from 2021 to 2030.
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- The outbreak of the Covid-19 pandemic has had a positive impact on the global Assisted Reproductive Technology (ART) industry, thanks to the multiple strategic measures taken by organizations.
- Government authorities in different countries have approved Assisted Reproductive Technology (ART) for the treatment of infertile couples, which, in turn, has provided lucrative opportunities for market growth, during the pandemic period.
- Additionally, in the post-COVID era, the market is expected to grow exponentially, primarily due to the success rate of assisted reproductive technologies.
- The Accessories and Disposables Segment to Maintain Its Leading Status Throughout the Forecast Period
Assisted Reproductive Technology (ART) Market Overview:
Rising prevalence of infertility rate, technological advancements in assisted reproductive technology (ART), growth in disposable income, and increased awareness of infertility treatment are driving the growth of the global technology market assisted reproduction (ART). However, the high cost of ART procedures and the risk associated with IVF treatment is hampering the market growth. On the other hand, growing opportunities in emerging markets and increasing fertility tourism present new opportunities in the coming years.
Assisted Reproductive Technology (ART) Market Segmentation:
The fertility clinic segment will maintain its leading position during the forecast period
Based on end-user industry, the fertility clinic segment accounted for the largest share in 2020, contributing more than half of the global assisted reproductive technology (ART) market, and is expected to maintain its leading position during the forecast period. This is due to the increasing prevalence of fertility cases, the rise of the sedentary lifestyle and the growth in the number of fertility clinics. Moreover, this segment is expected to exhibit the highest CAGR of 20.5% from 2021 to 2030.
The accessory and disposable segment takes the lion’s share in 2020
Based on product, the accessories and disposables segment held the highest market share in 2020, accounting for more than half of the global assisted reproductive technology (ART) market, and is expected to maintain its leading status throughout. of the forecast period. This is due to increasing prevalence of infertility, increasing demand for in vitro fertilization procedures such as egg retrieval, sperm analysis and screening, gamete manipulation, etc. . However, the instruments segment is expected to show the highest CAGR of 23.10% from 2021 to 2030, owing to increasing demand for frozen embryo transfer, rising prevalence of infertility and the increase in the number of IVF procedures.
Europe, followed by North America, to maintain its dominance by 2030
Based on region, Europe, followed by North America, held the highest market share in terms of 2020 revenue, accounting for nearly two-fifths of the global assisted reproductive technology (ART) market. This is due to increased use of new technology equipment services, increased incidence of infertility cases, high disposable incomes, increased funds from government and private organizations for in vitro fertilization (IVF) and advances in technology for infertility. However, the Asia-Pacific region is expected to witness the fastest CAGR of 21.3% during the forecast period, due to the rising incidence of infertility cases, increased awareness of motherhood alternatives and the increased demand for assisted reproductive technologies (ART).
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Assisted Reproductive Technology (ART) Market: Outlook by Region
North America (USA, Canada)
Europe (France, Germany, United Kingdom, Italy, Spain, Netherlands, Austria)
Asia-Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, South Africa)
Important Questions Answered by the Assisted Reproductive Technology (ART) Market Report:
What is the size and growth of the Assisted Reproductive Technology (ART) market?
What are the main and latest trends impacting the market?
What is the largest regional market for Assisted Reproductive Technologies (ART)?
Major market players covered in the Assisted Reproductive Technologies (ART) Market report include Cook Medical Inc., Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Genea Biomedx, Merck KGaA (EMD Serono, Inc. ), Millendo Therapeutics, Inc., Oxford Gene Technology Progyny Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Thermo Fisher Scientific, Inc., Vitrolife AB.
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