It is no surprise that IVF is peaking in terms of demand for infertility treatments. And, one of the major drivers of demand into the procedure is the better outcomes when compared with the others. It is important to note here that the call for IVF is so high that even insurance companies have taken at hand the task of covering these. As a result, pricing is now more competitive and treatment costs moderate. In fact, the Government of Ontario started a program for fertility with a budget of USD 50 million. The program helped 5000 women seek medical help for IVF treatment.
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It is quite significant to note here that infertility is rising at alarming rates. Besides, impaired fecundity is also a significant cause of concern for people trying to get pregnant world over. One big reason behind this is that owing to having serious careers, women are delaying conception. And, stress levels that are rising in both men and women due to hectic work lives and weak primary bonds is also leading to fertility issues.
Additionally, it is worth noting here that as people’s lifestyle gains the extra burden of habits such as smoking and drinking, issues with sperm count and egg count deteriorates. Besides, sedentary lifestyle coupled with poor dietary habits is leading to massive levels of obesity in people. This again impairs chances of parenthood significantly.
It is worth noting here that in the year 2016, 1.9 billion people in the age group of 18 and above were more than the normal weight range for their BMI. And, 650 million suffered from obesity. This translate to 13% of people in the world, aged 18 and above, falling into the category of obese. This breakdown based on gender is as follows – 15% women, 11% men.
Also, more and more cases of PCOS are being reported every day. In 2012, about 116 million women were suffering from the condition. And, estimates of prevalence are as high as 26% in certain countries. The lower range is near the 2% mark. This is a serious cause of infertility in women.
Thus, it does not come as a surprise that the global assisted reproductive technology (ART) market is set to chart a high growth over the period starting 2019 and ending 2029, adding a significant value of market worth in the period. This would keep the market players hooked to the playfield, active and aggressive.
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Competitive Landscape Decoded
Some of the major players in the global assisted reproductive technology market are Bloom IVF Centre, CooperSurgical Inc., Ferring B.V., Hamilton Thorne Inc., FUJIFILM Irvine Scientific, Inc., Laboratoire CCD, Microm Ltd, Nidacon International AB, OvaScience Inc., and Vitrolife, among others.
The vendor landscape of global assistive reproductive technology market is fragmented and most players are involved in introducing innovation to the product in order to slice out a major market share from the overall projections. Some of players are also combining know-hows and resources via mergers and acquisitions and alliances based on mutual synergies over the coming years. The global reproductive technology would thus see intense competition over the years to come, driving high growth into the market landscape.
Europe to Dominate Global Assisted Reproductive Technology Market Landscape
One of the most prominent region that the global assisted reproductive technology market would witness over the period would be Europe, thanks to government pro-activeness in improving fertility rates. Besides, the region is looking at a slew of advance technological improvements in the field. Also, high level of awareness and high income availability, especially among women are contributing massively to the regional market growth of global assisted reproductive technology.
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