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Egg Freezing and Embryo Banking Market Size
- Report ID: GMI11172
- Published Date: Sep 2024
- Report Format: PDF
Egg Freezing and Embryo Banking Market Size
Egg Freezing and Embryo Banking Market size was valued at approximately USD 4.2 billion in 2023 and is projected to grow at a CAGR of 16.7% from 2024 to 2032. Egg freezing, or oocyte cryopreservation, is a process in which a woman’s eggs (oocytes) are extracted, frozen, and stored for future use.
This technique allows women to preserve their fertility, providing the option to attempt conception later. Embryo banking is the process of creating and storing embryos for future use. This typically involves fertilizing a woman’s eggs with sperm in a laboratory to create embryos, which are then frozen for later implantation.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Egg Freezing and Embryo Banking Market Size in 2023: | USD 4.2 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 16.7% |
| 2032 Value Projection: | USD 16.8 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 338 |
| Segments covered: | Service Type, Storage Duration, Technology, Application, Age Group, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The market for egg freezing and embryo banking is poised for expansion, driven by societal trends and advancements in reproductive technologies. Individuals are increasingly utilizing fertility preservation through assisted reproductive technology due to delayed parenting, health considerations, and career aspirations. Enhanced awareness and improved success rates are propelling demand for these services, ensuring sustained market growth.
Additionally, delayed childbearing driven by sociodemographic factors is anticipated to further fuel market growth. According to the Centers for Disease Control and Prevention (CDC), in 2021, 167,689 of the 413,776 ART cycles were dedicated to egg or embryo banking, where all resultant eggs and embryos were preserved for future use. This trend toward postponing parenthood has led to a growing preference for egg freezing and embryo banking, which is expected to further boost market expansion.
Moreover, the World Health Organization's 2023 report reveals that approximately 1 in 6 adults, or about 17.5% of the global population, experience infertility issues. This underscores the rising demand for accessible and affordable fertility care. To address infertility and facilitate delayed parenthood, more individuals are opting for egg and embryo banking. This growing trend in fertility preservation is anticipated to drive market growth.
Frequently Asked Questions (FAQ) :
Egg Freezing and Embryo Banking Market Scope
