Fertility Services Market is expected to reach US$ 67.12 billion by 2031

Growing Technological Advancements in In-Vito Fertilization (IVF) Process to Offer Opportunities to Fertility Services Market During 2023–2031

According to our new research study on "Fertility Services Market Forecast to 2031 – Global Analysis – by Procedure, Patient Type, End User, and Geography," the market was valued at US$ 32.99 billion in 2023 and is expected to reach US$ 67.12 billion by 2031. It is estimated to register a CAGR of 9.3% during 2023–2031.

Treatments for genetic disorders and infertility problems are part of fertility services to aid conception. The development of assisted reproductive technologies (ART) such as intracytoplasmic sperm injection (ICSI) and in vitro fertilization (IVF) is one of the most significant developments in the fertility services market. These techniques have revolutionized reproductive medicine by making conceiving an embryo outside the body possible, thereby increasing the likelihood of a healthy pregnancy. Other advances include pre-implantation genetic testing, embryo cryopreservation, and egg freezing, providing additional options for couples and individuals pursuing fertility treatments.

Busy lifestyles causing obesity and stress or depression and heavy alcohol consumption lead to an upsurge in infertility rates, which creates a great need for fertility services. According to the Centers for Disease Control (CDC), the birthrate in the US fell by 4% in 2020 when compared to 2019. Rising infertility rates contribute to the growing fertility services market size.

Several environmental factors, including air and water quality, toxic chemical exposure such as perfluoroalkyl substances (PFAS), and lifestyle choices such as diet and exercise, can adversely impact reproductive health. Geographic location, climate, and socioeconomic variables are a few elements that can support or hinder reproductive health. Long-term exposure to toxins and pollutants can impair the reproductive organs and disrupt hormone levels, making conception difficult. Exposure to lead and other heavy metals can cause sperm abnormalities, whereas exposure to pesticides and other chemicals can disrupt ovulation and affect fertility in women, which drives the fertility services market growth.

High Cost Associated with Fertility Services Restrains Market Growth

The price of in vitro fertilization (IVF) differs from patient to patient and is primarily based on the result of the infertility test. According to CNY Fertility, an IVF cycle costs an average of US$ 12,000. An IVF cycle can cost between US$ 5,000 and US$ 30,000, not including the cost of medications, which can range from US$ 1,500 to US$ 3,000 per cycle. IVF costs are constantly increasing as various diagnostic and treatment methods such as hysteroscopy, IUI, and laparoscopy are used that add to the cost of the treatment, contributing to the continuous increase in IVF costs. Therefore, a major obstacle to the growth of the fertility services market is the high cost of fertility therapies.

The fertility services market analysis is carried out on the basis of procedure, patient type, end user, and geography. The market, based on procedure, is segmented into assisted reproductive technology, artificial insemination, and fertility surgeries. The assisted reproductive technology segment held the largest market share in 2023 and is expected to register the highest CAGR during 2023–2031. The market for assisted reproductive technology segment is further segmented into in vitro fertilization and intracytoplasmic sperm injection. The assisted reproductive technology segment growth is attributed to an increase in technological advances in fertility treatment; rise in success rates associated with ICSI-IVF in poor sperm morphology, motility, and low sperm count in men; improvement in the availability of healthcare facilities; and upsurge in research expenditure are the main factors for the fertility services market growth.  

The fertility services market, based on patient type, is bifurcated into male and female. The female segment held a larger market share in 2023. However, the male segment is anticipated to register a higher CAGR during the forecast period.

In terms of end user, the fertility services market is segmented into fertility centers, hospitals & surgical clinics, and others. The fertility centers segment held the largest market share in 2023 and is anticipated to register the highest CAGR during 2023–2031.

Region Analysis – Fertility Services Market

The scope of the fertility services market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Asia Pacific held the largest fertility services market share in 2023 is expected to witness the fastest growth rate of 9.7% during the forecast period. Moreover, the market in North America is also likely to grow by 2031, owing to the introduction and rapid distribution of several infertility drugs. Increasing research activities in infertility treatments are predicted to open up new opportunities for the regional market in the coming years. Furthermore, the US held the largest share of the North American market. Changing lifestyles with increasing trends of unhealthy diets leading to infertility and gynecological disorders in men and women are responsible for the market growth. Europe holds the third largest market share in 2023. The overall outlook for the European market is promising, with superior IVF technology attracting significant investment from private equity investors.

The fertility services market report profiles leading players such as CooperSurgical, Inc.; Vitrolife; Cook Medical; Care Fertility; INVO Bioscience; Carolinas Fertility Institute; Genea Limited; Merck KgaA; LABOTECT GmbH; and Monash IVF Group Limited. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping business opportunities for the market.

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