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(Health-NewsWire.Net, September 25, 2020 ) The report "Infertility Treatment Market by Product (Equipment, Media, Accessories), Procedure [ART (IVF, ICSI, Surrogate), Insemination, Laparoscopy, Tubal Ligation], Patient Type (Female, Male), End User (Fertility Clinics, Hospitals, Cryobanks) - Forecasts to 2023", The global infertility treatment market is expected to reach USD 2.2 billion by 2023 from USD 1.5 billion in 2018, at a CAGR of 8.0%.
The major factors driving the growth of the infertility treatment market include declining global fertility rate; rising number of fertility clinics worldwide; technological advancements; and increasing public- private investments, funds, and grants.
The equipment segment is expected to account for the largest share of the products market in 2018
On the basis of product, the infertility treatment market is segmented into equipment, media & consumables, and accessories. The equipment segment is further categorized into incubators, micromanipulator systems, imaging & laser systems, ovum aspiration pumps, sperm analyzers, incubators, microscopes, cryosystems, and gas analyzers. The equipment segment is expected to command the largest share of the global infertility treatment market in 2018. This is primarily due to the development of new and advanced infertility treatment systems by key market players and increase in the use of these devices in IVF laboratories worldwide.
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Assisted reproductive technology is expected to grow at the highest CAGR in the global infertility treatment market during the forecast period
Based on procedure, the global infertility treatment market is classified into assisted reproductive technology (ART), artificial insemination (AI), fertility surgery, and other infertility treatment procedures. The ART segment is expected to grow at the highest CAGR during the forecast period of 2018 to 2023. The large share of this segment can be attributed to ongoing technological advancements in the field of ART, growing awareness about IVF among individuals, and increasing adoption of surrogacy by single parents and same-sex couples.
Asia Pacific is expected to dominate the infertility treatment market during the forecast period
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to account for the largest share of the global infertility treatment market during the forecast period (2018–2023). The large share of this market can be attributed to the rise in medical tourism in Asian countries, rapid increase in healthcare expenditure, and declining fertility rates in these countries, thereby propelling the growth of the infertility treatment market in Asia Pacific.
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Key Players
The major players operating in the infertility treatment market include The Cooper Companies Inc. (US), Cook Group Incorporated (US), Vitrolife AB (Sweden), Thermo Fisher Scientific, Inc. (US) Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), Irvine Scientific (US), The Baker Company, Inc. (US), and Kitazato (Japan) among others.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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