Fertility Treatments Market:
The fertility treatment market consists of sales services and related products that are used in various applications to treat infertile patients. Fertility treatment is a medical procedure intended to increase the chances of conceiving a child.
The global fertility treatments market was worth $14870.3 million in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8.90% and reach $20913.72 million by 2023.
The fertility treatments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in 2019.
The fertility treatment market covered in this report is segmented by product into reagents, equipment. It is also segmented by end-user into fertility clinics, hospitals, surgical centers, clinical research institutes.
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The growth in the median age of first-time motherhood combined with change in lifestyle increased the difficulty of conceiving, increasing the demand for fertility treatment. The median age of first-time motherhood has increased all over the globe due to late marriages, contraceptive techniques, and increase in number of women who prioritize their careers over starting a family. According to statistics from the National Center for Health Statistics in 2018, the average age for having a first baby in the USA was 26.9 years, an increase from 22.7 years in 1980. In this scenario, a growing number of women are being opting for IVF treatments, which is expected to drive this market.
The high cost and low success rate of In vitro fertilization (IVF) treatment is a major factor that limits the growth of the fertility treatments market. In vitro fertilization is a fertilization process in which an egg is fertilized with sperm outside the body, in vitro. In vitro fertilization (IVF) treatment costs differs in many countries due to the lack of refund policies. Moreover, insurance companies usually do not cover infertility treatments. According to the American society of reproductive medicine, in the USA, the average cost of IVF cycle is $12,400 and the average cost of an IVF cycle using fresh embryos is $8,158 with median cost at $7,500. The rate of success of IVF treatments is only 28% to 35%, which decreases with the increase in woman’s age. For example, for women, the success rate is 32.2% under 35 and 1.9% for women aged over 44. Thus, the high cost and low success rate of the IVF treatment restrict the growth of the fertility treatment market.
Development of new techniques to treat infertility using a human’s body is a key trend in the fertility treatments market. INVOcell is an IVF alternative that uses the woman’s body to support fertilization, thus eliminating the cost of a laboratory incubator. The INVOcell device is placed with the eggs and sperm in the vaginal cavity, allowing for the stability of the natural environment, pH, and gas to help in fertilization. INVOcell, which is made in Medford, Massachusetts by INVO Bioscience, costs around $6,800 including medication. Although IVF generated more quality embryos, the birth rates between IVF and INVOcell are similar. According to the journal of assisted reproduction and genetics in 2017, 12 out of 20 women gave birth to 15 babies in IVF including three sets of twins and 11 out of 20 women gave birth to 16 babies in INVOcell group including five sets of twins.
In April 2019, Silverfleet Capital, a European based company specialized in mid-market buyouts acquired Care Fertility for an undisclosed amount. Through this acquisition, Silverfleet Capital builds an extensive healthcare experience and aligns with its strategy of supporting companies with strong underlying dynamics of market growth. Care Fertility, a UK based company, offers a range of fertility treatments with a personalized approach to patient care.
Major players in the market are Apollo Hospitals Enterprise Ltd., Care Fertility Group, Genea Limited, The Johns Hopkins Health System Corp, Medicover Group, Monash IVF Group, Progyny Inc., Vitrolife, Carolinas Fertility Institute and OvaScience Inc.
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