LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global assisted reproductive technology (ART) market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector says, “Assisted reproductive technology is a wide range of procedures that are used to treat infertility in men and women. Generally, ART procedures include techniques, such as IVF, ZIFT, GIFT, ICSI, and artificial insemination, which help individuals to conceive a child. The assisted fertility market is expected to witness consistent growth during the forecast period owing to an increase in infertility treatment.”
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The top three emerging market trends driving the global assisted reproductive technology market according to Technavio research analysts are:
- Rising age of first-time pregnancy
- Proliferation of strategic initiatives
- Increase in acceptance of same sex marriages
Rising age of first-time pregnancy
Women are delaying pregnancy because of various factors, leading to an increase in the rate of pregnancies in older women. Factors such as economic pressure, interest in career, and changes in relationships have led to the postponing of marriage and children. Another impacting factor is the increased use of contraceptives due to the rise in government investment in sex education programs, resulting in teens using long-acting forms of birth control. This development has stalled birth rates among women in their 20s, but increased birth rates among those aged between 30 and 44 years.
“Thus, with increasing age, the chances of conception reduce due to a drop in fertility, which stimulates the need for repeated testing and dependence on assisted reproductive technologies,” says Amber.
Proliferation of strategic initiatives
Innovation and effectiveness of ART procedures such as in vitro fertilization (IVF) are the keys to the growth of the market. Several vendors are entering strategic alliances and investing in R&D for innovation and improvement of existing ART technologies. Strategic alliances have resulted in better financial stability to develop the latest products with enhanced efficiency, in terms of safety and protection. M&As allow vendors to gain access to proprietary technologies and advanced products of the acquired company. Some small vendors undergo M&As to broaden their network and expand the penetration of their new products.
Some companies and government organizations form collaborations to conduct R&D of fertility technologies. These collaborations allow both companies to use their proprietary technologies to develop innovative products. This trend of mergers and acquisitions allows for the development of better products and services thus, leading to the higher growth potential of the market during the forecast period.
Increase in acceptance of same sex marriages
Social and legal acceptance of same sex marriages has also led to a rise in sperm donations and the use of fertility services. According to a research by the Williams Institute, in the US, an estimated six million children in the country had same sex couples as parents. The use of donor sperm by same sex female couples increased from 15% before the legalization of same sex marriages to 20% after the legalization of the same. The invalidation of the ‘Defense of Marriage Act’ in 2013 has led to an increased demand for fertility services in the US, which in turn, increases the demand for ART.
Browse Related Reports:
- Global Fertility Services Market 2016-2020
- Fertility Market in the US 2016-2020
- Global In-vitro Diagnostics Instruments Market 2016-2020
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