Home > Healthcare & Medical Devices > Assisted Reproductive Technology (ART) Market
Assisted Reproductive Technology Market size exceeded USD 19 billion in 2020 and is projected to expand at over 7.4% CAGR from 2021 to 2027. Increasing incidence of infertility along with growing awareness among population is one of the major factors driving the industry growth.
Obesity and adoption of unhealthy dietary habits including alcohol consumption & smoking greatly contribute to infertility. According to the American Pregnancy Association, 30% of male population account for infertility and contributes to around one-fifth of infertility cases. Also, as per data from Centers for the Disease Control and Prevention (CDC), around 12.1% of women, aged between 15 to 44 years are unable to conceive. Hence, increase in the infertility prevalence rate across the globe will act as a key driving factor for adoption of assisted reproductive technology.
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Technological advancements in assisted reproductive technology is expected to augment the ART market demand. Several companies are involved in development of technologically advanced products that minimize complications and enhance the success rates. Additionally, various government organizations are initiating awareness activities to introduce technologically advanced products.
The global pandemic has affected millions of people worldwide, resulting into high mortality. The pandemic has negatively impacted the assisted reproductive technology market due to mobility constraints and safety concerns during procedures. Several organizations have undertaken initiatives to maintain reproductive health standards. Decline in the number of ART procedures at the beginning of COVID-19 has affected the demand in fertility clinics.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | USD 19.2 Billion |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 7.4% |
2027 Value Projection: | USD 34.6 Billion |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 196 |
Tables, Charts & Figures: | 316 |
Segments covered: | Type, End-use/Provider and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Fertility clinics end-user is estimated to witness growth rate of about 7% through 2027. Improvements in assisted reproductive technology coupled with growing incidence of infertility has led to expansion of fertility clinics. According to the American Society for Reproductive Medicine (ASRM), in the U.S., around 6.7 million women are infertile. This impels the demand for assisted reproductive technology treatment. Adding to this, higher accessibility, shorter treatment duration and rising number of fertility clinics is likely to boost the industry growth.
Europe assisted reproductive technology market accounted for more than 35% of the revenue share in 2020 driven by high adoption rate coupled with rising number of working women in the region.
The ART market consists of several players including Cook Medical, Fujifilm Irvine Scientific, The Cooper Companies Inc., Hamilton Thorne and Thermo Fisher Scientific, among others. These companies are adopting several expansion and growth strategies such as partnerships, acquisitions and product launches to increase their market presence.
Market, By Type
Market, By End-use/provider
The above information is provided for the following regions and countries: