NEW YORK, June 3, 2020
- The rising awareness about possible artificial conception methodologies and increasing incidences of advanced maternal age are driving the demand for the market
- Market Size – USD 24.21 Billion in 2019, Market Growth - CAGR of 9.9%, Market Trends – Growing health awareness
NEW YORK, June 3, 2020 /PRNewswire/ -- The global Assisted Reproductive Technology (ART) market is forecast to reach USD 50.71 Billion by 2027, according to a new report by Reports and Data. Assisted reproductive technology (ART) is the treatment for infertility in which laboratory fusion of ovule extracted from the women ovaries and are mixed with the male sperms is performed. There has been a dramatic rise in the number of women who have their babies at age 35 and over in the past four decades. This progression started in the mid-1970's in the U.S. and has proceeded to grow slowly over time. Fifteen percent of birth-giving people today are 35 and older, up from 11% in 2002 and 8% in 1990. Thus, with the increasing trends of late pregnancies across different parts of the world the adoption of ovulation test kits is anticipated to grow significantly.
Globally, approximately 0.3% of all infants born every year are conceived using assisted reproductive technology (ART) treatments. Moreover, growing awareness of ART and eliminated discomfort about pregnancy related disorders from social factors have contributed sufficient market boost of the ART procedures. According to the World Fertility Patterns statistics, Mexico's birth rates are about 2 kids per mother, well below the levels expected to support current Mexico's population. Brazil's birth rate is also smaller, at 1.75, close to that of 1.77 for Colombia. Costa Rica is also smaller, down from 1.66. These declining fertility rates can be threatening for woman and parents planning to conceive. Thus, more number of couples are approaching an artificial pregnancy method.
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A big market limiting factor is the stringent rules and regulations. The transfer of multiple embryos in a single cycle increases the rates of multiple births. Due to the increased social costs and health risks associated with multiple births, legislation or guidelines from professional societies have been introduced in many countries. Also, moderate success rate, which decreases the market demand, is expected to act as a restraining factor on the global market in the years ahead.
The COVID-19 impact:
The recent outbreak of COVID-19 has impacted growth of the market as in several countries the IVF or other ART procedures are being postponed or cancelled. Many studies have stated that women trying to conceive through ART are vulnerable to infection due to lower immunity. The restricted movements and extreme shutdown of the market in developed as well as developing nations has resulted into reduction of couples approaching ART. However, various gynecologist are maintaining the routine or follow up of surrogate or couples enlisted under ART procedures by using digital platform, hence after a short span of declination in the growth the market is estimated to grow in later phase of scenario.
Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/assisted-reproductive-technology-art-market
For the purpose of this report, Reports and Data have segmented into the global Assisted Reproductive Technology market on the basis of procedure, technology, type, end use and region:
Procedures Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
End Use Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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