The global assisted reproductive technology market was valued at $24.6 billion in 2019 and is estimated to surpass $56.3 billion by 2027, at a CAGR of 10.7%. Assisted reproductive technology (ART) is used to treat infertility which includes in vitro fertilization-embryo transfer, zygote intrafallopian transfer, gamete intrafallopian transfer, and frozen embryo transfer.
ART consists of all fertility treatments in which both embryos and eggs are handled. ART procedures mainly involve surgical procedures to remove eggs from a woman’s ovaries (oophorectomy), in-vitro combining them with sperm and returning them to the woman’s body. The extensive growth of the assisted reproductive technology market is majorly attributed to the growing number of infertility cases owing to growing stress, obesity, pollution, and changing lifestyles. In 2020, the global assisted reproductive technology market is projected to observe a massive surge in the global market owing to the presence of established organizations.
|Realtime BPS||*Estimated market Size, 2020, |
|**Real Time market Size, 2020, |
|10.3%||10.7%||38||USD 27.0 Billion||USD 27.6 Billion|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The increasing adoption of technological advancements in assisted reproductive technology is projected to foster the demand for assisted reproductive technology, which will ultimately drive the global market, during the forecast period. For instance, in April 2019, Nova IVF Fertility, a significant service provider infertility space, has adopted DNA Fragmentation Index (DFI) testing and Magnetic Activated Cell Sorting (MACS) techniques which are significantly benefiting men with fertility issues in India. The company has achieved around 25,000 clinical pregnancies through in-vitro fertilization (IVF). These technological innovations are expected to accelerate the growth of global assisted reproductive technology, during the analysis period.
Moreover, the extensively increasing prevalence of childlessness, infecundity, and infertility worldwide is one of the major factors driving the demand for assisted reproductive technology in the global market. As per research conducted by CDC (Centers for disease control for prevention) around 12% of women aged 15-44 years in the U.S. have difficulty getting pregnant as well as around 9% of men aged 25-44 years in the U.S. reported that they need doctor’s advice or treatment for infertility. These figures showcase that the global assisted reproductive technology shall have future opportunities in the global market, in the upcoming years.
The unprecedented condition of COVID-19 outbreak across the world has led to the shutdown of business for an uncertain period of time. The industrial processes like production, logistics, and transportation are disrupted due to industrial shutdown, which will ultimately make a negative impact on the global industry. On the other hand, the pandemic spread of COVID-19 has created a positive impact on the global assisted reproductive technology industry. Also, the government authorities are approving assisted reproductive technology for the treatment of infertile couples. For instance, in February 2020, the government of India has passed ‘assisted reproductive technology (ART) regulation bill’ amid the COVID-19 chaos. Moreover, the bill is approved to regulate the ART clinics with an aim to offer ‘safe and ethical’ reproductive procedures to around 27 billion infertile couples of India. Such government supportive policies may offer significant growth for the global assisted reproductive technology market, during the outbreak period.
Furthermore, multiple organizations are coming forward with their strategic steps, amid the pandemic emergency with an objective to help infertile couples. For instance, in June 2020, SART (Society for assisted reproductive technology) has launched its fertility experts podcast series. The podcast addresses multiple topics related to fertility treatment. Furthermore, SART aims to offer patient-friendly education to help them understand treatment options and fertility problems. These initiatives by estimated organizations are expected to create huge awareness among people, which will eventually fuel the growth of the global assisted reproductive technology, throughout the COVID-19 pandemic timeframe.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
As per the recent publication of Research Dive, the global assisted reproductive technology market is anticipated to continue it’s substantial market growth in the future years, post the COVID-19 crisis situation settles. The enormously rising adoption of R&D and innovations, increased awareness about assisted reproductive technology, changing lifestyle & habitats, and growing number of patients suffering from infertility and childlessness disorders may offer stimulus to the global assisted reproductive technology market after the end of the COVID-19 outbreak.
The post-COVID-19 pandemic period is projected to witness a massive growth in the demand for assisted reproductive technology mainly because of the ‘success rate of assisted reproductive technologies’. For example, as per press release published by SART in march 2020, more than 74,000 babies were born using assisted reproductive technology in the year 2018. Moreover, the public as well as private health sectors worldwide, are heavily investing in assisted reproductive technology. These factors may offer significant opportunities to the global assisted reproductive technology market, after the COVID-19 pandemic.
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