LONDON--(BUSINESS WIRE)--According to Technavio’s latest report, the global fertility services market is expected to exceed USD 21 billion by 2020, growing at a CAGR of almost 9% during the forecast period.
“The demand and use of fertility services will increase at a significant pace during the forecast period due to a rise in infertility rates owing to lifestyle-related factors such as excessive smoking, stress, and exposure to pollution. The emergence of assisted reproductive technology (ART) technologies such as IVF, ICSI, and IUI will also contribute to increased adoption of these services,” says Barath Palada, lead analyst for patient monitoring devices research at Technavio.
In this report, Technavio covers the present scenario and growth prospects of the global fertility services market from 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market. The market is segmented into the following three regions:
EMEA: favorable reimbursement scenarios to boost growth of the market
The fertility services market in EMEA is expected to reach USD 8.9 billion by 2020, growing at a CAGR of over 8%.
The UK, France, Germany, Italy, and Spain were the major contributors to the market in EMEA. Birth rates in EMEA are declining due to the sedentary lifestyle of its population. Currently, a majority of the countries in the region have fertility rates of less than 1.5 children per woman.
Many government and non-government organizations are trying to educate the people in the region about fertility complications and associated treatment options through commercial and professional media.
In 2012, the number of ART procedures conducted in Europe amounted to twice that in the US. Countries such as Belgium, Israel, and the Czech Republic are fertility tourism hotspots. “Favorable reimbursement scenarios and availability of advanced medical techniques make these countries major hotspots for fertility tourism,” says Barath. Countries such as Belgium, Israel, Slovenia, France, and the Netherlands provide 100% insurance coverage for ART, with variations in the number of treatment cycles covered. The government of Israel has also subsidized costs associated with ART.
Request a sample report: http://goo.gl/xxdCNT
Americas: prevalence of infertility and associated disorders to boost market
The fertility services market in the Americas is expected to generate revenue of USD 6.6 billion by 2020, growing at a CAGR of over 8%.
The prevalence of infertility and associated disorders, such as obesity, are on the rise. In 2013, the CDC estimated that 6% of married women in the US, aged between 15 and 44 years, had issues with infertility.
The American Society for Reproductive Medicine (ASRM) reports that male infertility accounts for one-third of all infertility cases in the US. Though these factors are supposed to increase the need for fertility services in the region, the expensive nature of ART procedures in this region restricts people from undergoing fertility treatments. Also, the availability of donors and surrogates is limited, as fertility services such as embryo transfer are governed by stringent regulations and, thus, many people with infertility seek medical intervention in other countries where fertility services are less expensive and easily accessible.
Latin America has a high fertility rate. Fertility treatments are not popular in this region as they are considered morally and religiously unacceptable. In addition, as regulatory and insurance companies in the region do not offer coverage for these services, only people with a high income can afford these fertility treatments.
APAC: improving healthcare infrastructure to boost growth
The fertility services market in APAC is expected to exceed USD 5.3 billion by 2020, growing at a CAGR of over 9%. The market in APAC is likely to grow at a rapid pace during the forecast period due to factors such as higher prevalence of fertility complications in the region.
Many countries in the region are improving their healthcare infrastructure and adopting sophisticated technologies. They are also employing skilled medical professionals to keep up with their Western counterparts. Many Asian countries such as Taiwan, Hong Kong, and India are major hotspots for fertility tourism. These countries are also cost-effective compared to developed countries. Regulations pertaining to infertility treatments are also less stringent in these countries. In addition, though ethical and legal concerns regarding fertility services and embryo transfer are an issue in these countries, they are gaining prominence as hotspots of fertility tourism. However, these countries offer limited insurance coverage, which deters people from availing these services.
- CARE Fertility
- Ferring Pharmaceuticals
- Monash IVF
Browse Related Reports:
- Global In-vitro Fertilization (IVF) Devices Market 2015-2019
- Global Infertility Market 2015-2019
- Global Male Infertility Market 2015-2019
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact firstname.lastname@example.org with your requirements and a link to our subscription platform.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.