Fertility Services Market: By Service Type (IVF, Artificial Insemination, Surrogacy, Others), By End User (Fertility Clinics, Hospitals, Clinical Research Institutes) and Geography

Fertility Services Market size was valued at USD 47.15 billion in 2022. It is expected to reach USD 121.65 billion by 2029 at a CAGR of 14.5% from 2023-29. Fertility services are methods that help couples and occasionally single people who wish to have children but are unable to do so naturally due to medical issues. Fertility treatments involve drugs, artificial insemination, IVF, surrogacy, Assisted Reproductive Technology (ART) procedures, and among others. The need for fertility services is increasing as a result of numerous social, economic, and environmental issues, including changes in lifestyle, such as obesity, stress or depression, and heavy alcohol consumption. The growing popular vogue of giving childbirth at a later age along with problems related to reproductive systems like Polycystic Ovary Syndrome (PCOS) and Primary Ovary Insufficiency (POI) are currently driving the market. According to CDC, about 10% of women (6.1 million) in the United States aged 15-44 years have difficulty becoming or staying pregnant due to reproductive health issues.

According to a research article in the Journal of Human Reproductive Sciences, of all fertility cases, approximately 40%-50% are due to male factor infertility and 2% of all men exhibit suboptimal sperm concentration. Numerous advances to improve the success rate of treatment like AI in IVF, laser-assisted hatching, and Preimplantation Genetic Screening (PGS) are creating several opportunities for the surge in the fertility services market. Currently, cryopreservation of eggs, sperm, and embryos is trending as it allows the individual to harvest its reproductive cells for future use. For instance, a study conducted by Italian National Registry in 2019, showed that 1 pregnancy out of 3 was obtained using cryopreserved embryos. But the adoption of stringent laws by several country’s governments for ethical purposes has led to a decrease in the market. For instance, in India, the Surrogacy Act, of 2021, prohibits commercial surrogacy.

However, the increased awareness of infertility treatments, technological advancement, and increased accessibility to improved healthcare facilities have increased the adoption of these services among individuals. The prevalence of delayed pregnancies, sedentary lifestyles, increased smoking and drug use, as well as excessive workload and the stress that comes with it has led to an increase in infertility, which is expected to surge the market. Furthermore, the increase in disposable incomes, flexible coverage options offered by health insurance providers, and increased advertising and promotion of reproductive services on television and online portals are contributing to the expansion of the market and are expected to increase in the forecasted years.

Fertility Services Market Key Developments:

• In February 2023, NewGenIvf, a full-service fertility services provider in Asia merged with A SPAC I Acquisition Corp and renamed as First Fertility Group Ltd.
• In June 2023, Nova IVF Fertility, a fertility chain owned by Asia Healthcare Holdings (AHH), acquired WINGS IVF, a regional IVF chain based in Ahmedabad, India.