Infertility Treatment Market by Type [Equipment, Media & Consumables and Accessories], Procedure Type [Assisted Reproductive Technology, Artificial Insemination, and Fertility Surgery], Gender Type [Male and Female], End User [Hospitals & Clinics and Fertility Centers] – Global Outlook & Forecast 2021-2031
According to the deep-dive market assessment study conducted by Growth+ Reports, the global infertility treatment market was pegged at ~US$ 1.74 billion in 2020. The market is expected to witness a CAGR of ~7.8% from 2021 to 2031.
Rising prevalence of infertility coupled with changing lifestyle, the growing number of fertility clinics across the globe, technological advancements in fertility treatment, and increasing number of collaborations and partnerships among prominent players are some of the key factors propelling the growth of the infertility treatment market. However, high cost of the treatment is likely to restrain the market growth to a certain extent.
Government bodies and numerous organizations across the globe are implementing several initiatives to spread awareness about the fertility treatment methods and increase their adoption. For instance, in January 2020, Government of Hungary announced that it will offer free in-vitro fertilization treatment. This initiative was aimed to boost the country’s population, which has been declining for decades.
Infertility is affecting millions of people of reproductive age worldwide – and has an impact on their families and communities. It affects approximately 8%–10% of couples worldwide. Of 60–80 million couples suffering from infertility every year across the globe, between 15 and 20 million (25%) are in India alone. From 1990 to 2019, the global fertility rate fell from 3.2 to 2.5 live births per woman. Today, close to half of the world’s population lives in countries where lifetime fertility is below 2.1 live births per woman. Furthermore, in 2019, 49% of all women in the reproductive age range (15-49 years) globally were using some form of contraception, compared to 42% in 1990. Contraceptive use and fertility are inversely correlated. These factors are likely to increase demand for infertility treatment, thereby diving the growth of the market.
In an effort to grow organically and maintain their position in market, the prominent players are focusing on launching technologically advanced products. For instance, in December 2019, Mankind Pharma launched its generic Dydrogesterone tablets for treatment of infertility and pregnancy related complications in the Indian market. Mankind Pharma became the first Indian and second global firm to develop the drug.
However, the high cost of the treatment is expected to restrain the growth of the market to a certain extent. Infertility treatment such as ART is still beyond the reach of numerous infertile couples owing to its high cost. Patients in low and middle-income countries have to pay out of pocket for the treatment due to lack of coverage.
The Asia Pacific region is projected to be the fastest-growing infertility treatment market. The high growth of region can mainly be attributed to the developing healthcare infrastructure, rising population with infertility issues, and growing awareness about infertility treatment. Countries such as India, China, and Japan in the Asia Pacific region, are projected to offer significant growth opportunities.
Some of the prominent players operating in the infertility treatment market are Esco Micro Pte Ltd., IVFtech ApS, Fujifilm Irvine Scientific, Rocket Medical plc., Zeiss Microscopy, Somatex Medical Technologies GmbH, Cooper Surgical Fertility & Genomic Solutions, Cook, Vitrolife, and Genea Limited, among others.