ALBANY, New York, April 2, 2019 /PRNewswire/ -- The TMR report projects the global assisted reproductive technology market to register an impressive CAGR of 6.3% from 2017 to 2025. The market was valued US$22,100.0 mn in 2016. By the end of 2025, the market is expected to attain a valuation of US$37,789.6 mn, predicts the report.
Among various technologies, in-vitro fertilization accounts for a leading share in the market. This is also expected to fuel demand in the assisted reproductive technology market during the forecast period, due to the efficacy and ease associated with the in-vitro procedures. Region-wise, Asia Pacific is expected to contribute the largest share in the global assisted reproductive technology market in the coming years. This is attributed to the rising number of families struggling with infertility and governments' initiatives in helping families in the region.
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Growing Demand for Treating Several Infertility Problems Boost Market
Assisted reproductive technology (ART) involves numerous medical procedures, which helps in conception as well as reduces the chance of abnormalities during pregnancy. The growth of the global assisted reproductive technology market has received a marked momentum, thanks to the governments' funding in in-vitro fertilization in several developing economies. Along with this, increasing disposable incomes and rising awareness about ART services for improving mothers' and newborns' health are also fueling demand in the global assisted reproductive technology market.
Furthermore, ART procedures are safe and effective. Thus, rising quest for enhancing safety of reproductive procedures imparts significant momentum in the global assisted reproductive technology market. Apart from this, expanding healthcare infrastructures globally, especially for fertility treatments is another major factor propelling expansion in the global assisted reproductive technology market.
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Rapid Advances in ART Procedures to Fuel Market's Growth
The constant evolution of IVF and IUI have provided a major thrust to the growth of the global assisted reproductive technology market. However, rapid advances in all these procedures have remarkably improved infertility problems among couples and live birth rates. Along with this, technological advancements in various genetic techniques for assessing pre-treatment characteristics is also proving success rate of various ART procedures. Such factors are also boosting the global assisted reproductive technology market.
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Transparency Market Research (TMR) notes that the global assisted reproductive technology market is categorized by the existence of several large and small players worldwide operating in it. Thus, the competitive landscape of the market has underwent successive fragmentation. The level of competition between the potential players is likely to intensify as they aim at widening their products portfolio along with expanding their services to developing economies.
Out of the various strategic alliances adopted by players in the global assisted reproductive technology market is to stay ahead of the competitors, bolstering product horizon and expanding geographic reach has gained maximum popularity. The global assisted reproductive technology market is expected to grow steadily due to the existence of potentially large players who are focusing on mergers and acquisitions for establishing their credibility in the market. Such leading vendors are also spreading their businesses in emerging economies for consolidating their shares in the market. Some of the dominant players in the global assisted reproductive technology are Nikon Corporation, Laboratoire CCD, Hamilton Thorne, CooperSurgical, and Esco Micro Pte. Ltd.
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The review is based on a market research report by TMR, titled, "Assisted Reproductive Technology Market - (Technology - In Vitro Fertilization (Intra-cytoplasmic Sperm Injection (ICSI), Preimplantation Genetic Diagnosis (PGD)), Artificial Insemination (Intrauterine Insemination (IUI)), Intracervical Insemination (ICI)), and Surrogacy; Procedures - Frozen Donor, Frozen Non Donor, Fresh Donor, Fresh Non Donor, and Embryo Banking; End User - Fertility Clinics and Hospitals) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025".
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