PUNE, India, Aug. 11, 2020 /PRNewswire/ -- The worldwide spread of COVID-19 has positively impacted the global assisted reproductive technology market. This is mainly due to supportive government policies and the strategic steps taken by major market players to sustain in the pandemic.
Coronavirus has positively impacted the Global Assisted Reproductive Technology Market.
The Global Assisted Reproductive Technology Market is likely to experience an increase in the growth rate during the COVID-19 pandemic. As per a new report added by Research Dive, the global assisted reproductive technology market is anticipated to reach up to $56.3 billion during the forecast period from 2019 to 2026. Comprehensive analysis on drivers, challenges, growth opportunities, major segments, and key strategies executed by major market players are provided in the report for better understanding of the pandemic effect on the global market.
Highlights of the Report
The expected CAGR of the assisted reproductive technology market before COVID-19 pandemic was 10.3% during the forecast period.
The CAGR of the global market after the pandemic crisis is projected to grow at a CAGR of 10.7% by 2027.
In 2020, the expected market size of the assisted reproductive technology market before COVID-19 pandemic was $27.0 billion.
Due to COVID-19 pandemic, the market size of the global market is expected to reach up to $27.6 billion in 2020.
Our analysts stated that the supportive government policies and rise in number of government approvals for assisted reproductive technology for infertile couples' treatment are the major factors expected for progressive market growth. For instance, in February 2020, the Indian government passed 'assisted reproductive technology (ART) regulation bill' amidst the COVID-19 pandemic. The bill is approved by the government to regulate the ART clinics with an aim to offer 'safe and ethical' reproductive procedures to nearly 27 billion infertile couples in the country.
Furthermore, many institutions and organizations are coming forward their strategic steps in the pandemic crisis with an objective to help infertile couples. For instance, in June 2020, Society for assisted reproductive technology (SART) announced the launch of its fertility experts' podcast series. Multiple topics regarding the fertility treatment are addressed in the podcast. The aim of SART is to offer patient-friendly education in order to help them in understanding fertility problems and treatment options. These initiatives by various organizations are predicted to create huge awareness amongst individuals, which is projected to drive the growth of the global assisted reproductive technology market during COVID-19 crisis.
Top 10 Companies in Assisted Reproductive Technology Industry
The major players operating in the global assisted reproductive technology market include:
Nidacon International AB
FUJIFILM Irvine Scientific
Hamilton Thorne, Inc.
Thermo Fisher Scientific Inc.
The report summarizes various aspects of all these key players including financial performance, product portfolio, recent strategic moves & developments, and SWOT analysis. –Download Sample Report
Post-Pandemic Scenario on Assisted Reproductive Technology Market
As per the report, the global assisted reproductive technology market is expected to witness a progressive growth even after the COVID-19 pandemic. The growing adoption of R&D and innovations and the increase in number of patients suffering from childlessness and infertility disorders are expected to boost the growth of the global market during the forecast period. Besides, the growing success rate of assisted reproductive technology is other factor likely to propel the market growth after COVID-19 pandemic. For instance, according to the statistics provided by SART, more than 74,000 babies were born in 2018 with the help of using assisted reproductive technology.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.