LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global embryo culture media market to grow at a CAGR of more than 9% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global embryo culture media market for 2017-2021. The report details the major factors influencing the market such as drivers, opportunities, industry-specific challenges, and other critical issues.
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Technavio analysts highlight the following four market drivers that are contributing to the growth of the global embryo culture media market:
- Rise in lifestyle disorders
- Growing number of delayed pregnancies
- Increase in awareness of IVF treatment
- Rise in income level of consumers
Rise in lifestyle disorders
Increasing work pressure and busy schedule have forced people to restrict themselves to minimal physical activity and more desk work. This has resulted in lifestyle disorders such as obesity, which has been associated with several health problems, including cardiovascular diseases, diabetes, hypertension, and infertility.
According to Amber Chourasia, a lead analyst at Technavio for health and wellness research, “The increase in lifestyle diseases is leading to a rise in cases of infertility among women and men. These individuals opt for assisted reproductive treatment such as IVF to increase the chances of pregnancy. This has increased the demand for embryo culture media.”
Growing number of delayed pregnancies
The average age of first-time mothers has been increasing, especially in developed countries such as the US and the UK. According to CDC, from 2000 to 2014, the age of first-time mothers in the US increased by 1.4 years from 24.9 years old on average to 26.3 years.
A woman's fertility declines with age as her eggs accumulate abnormalities that make them less likely to develop into healthy babies if fertilized. This has increased the demand for fertility treatment and therapies from women wanting to conceive after 30 years. Thus, the rise in the number of people seeking fertility treatments such as IVF treatment will raise the demand for embryo culture media.
Increase in awareness of IVF treatment
There is a notable increase in the awareness of assisted reproductive technology (ART) procedures among women when compared with the last decade. ART procedures such as IVF treatment have gained a positive perception and wide acceptance among women worldwide. The increase in awareness can be attributed to several factors such as the rise in education level among the female population, coupled with the rise in the number of working women. This has had a significant influence on the demand for various IVF treatments, especially in developed and developing countries such as the US, the UK, and China.
Rise in income level of consumers
Financial opportunities in urban areas have prompted people to migrate from rural to urban areas. This has led to a change in lifestyles and a spike in the number of double-income households. Disposable income is increasing globally, leading to an increase in spending capacity. The increase in disposable income makes ART procedures accessible for couples who are unable to conceive.
“The increase in disposable income, coupled with an increase in awareness among people about the availability of a variety of IVF treatment in the market, has been instrumental in the growth of the market and it is likely to drive the market in the coming years,” says Amber.
Browse Related Reports:
- Global Sperm Analytical Devices Market 2017-2021
- Infertility Services Market in the US 2017-2021
- Global Fertility Services Market 2016-2020
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