Industry: Healthcare
Published Date: July-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 120
Report ID: PMRREP34680
The market is estimated to reach a valuation of US$11.3 Bn by the year 2031, at a CAGR of 17.8%, during the forecast period 2024 to 2031.
Key Highlights of the Market
|
Market Attributes |
Key Insights |
|
US Assisted Reproductive Technology Market Size (2024) |
US$3.6 Bn |
|
Market Size (2031) |
US$11.3 Bn |
|
Forecast Growth Rate (CAGR 2024 to 2031) |
17.8% |
|
Historical Growth Rate (CAGR 2019 to 2023) |
15.7% |
The medical treatment known as assisted reproductive technology (ART) is utilized to address fertility disorders or the inability to conceive children. The manipulation of eggs, sperm, or embryos is a crucial aspect of ART treatments, which aim to increase the chances of a successful and safe pregnancy as well as the likelihood of conception.
The procedure is laborious, expensive, and highly intrusive. Treatment options for male infertility include surgery, hormone therapy, artificial insemination, and intracytoplasmic sperm injection.
The most common assisted reproductive technology treatment is in vitro fertilization (IVF), which involves the fertilization of an egg with a sperm in a laboratory, and then transferring the resulting embryo to the uterus. The efficacy of assisted reproductive technology is influenced by several factors, including age, kind of surgery, and the amount or cause of infertility.
The growth and transformation of the US assisted reproductive technology market from 2019 to 2023 can be attributed to the increasing adoption of ART techniques, rising rates of infertility, and technological advancements.
The progression of assisted reproductive technology methods and technology has been instrumental in expanding market capacities and improving success rates.
Innovations such as preimplantation genetic testing (PGT), embryo cryopreservation procedures, and advanced sperm selection methods have facilitated market expansion, which has been driven by improved treatment outcomes.
As a result of the increasing awareness and the enhancement of healthcare facilities, the availability of ART treatments in the United States has been enhanced.
Despite the successful expansion of the ART market, it is confronted with numerous challenges, including fluctuating success rates, ethical dilemmas, and exorbitant treatment costs.
However, the market is expected to experience significant development in the near future due to the ongoing research into reproductive technologies and the increasing investment in healthcare infrastructure.
Mounting Prevalence of Infertility
The demand for assisted reproductive technology in the region is expected to be driven by the increasing prevalence of infertility, particularly in the United States.
Infertility was encountered by approximately 7% of women in the United States between the ages of 15 and 44, according to data published by the National Survey of Family Growth (NSFG).
Additionally, the fertility services industry is anticipated to expand due to the increased prevalence of infertility among men worldwide. Approximately 10% of men in the United States between the ages of 16 and 74 have experienced infertility, according to research published in the Oxford Journals.
The rise in the incidence of infertility in the United States can be attributed to the general population's increased obesity rates, elevated stress levels, and the transition to a sedentary lifestyle. As a result, it is anticipated that the demand for ART technologies will rise.
Furthermore, the United States administration and non-profit organizations are actively involved in assisting the general public in order to increase the accessibility of fertility treatments.
Therefore, it is anticipated that these initiatives will provide a boost to the growth of the assisted reproductive technology market during the forecast period.
Growing R&D in Fertility Treatment
The advancement of fertility treatments encompasses a diverse array of options, such as pharmaceutical interventions, surgical procedures, and advanced technical alternatives, such as artificial insemination and cryopreservation of eggs or embryos.
The success rates of in-vitro fertilization (IVF) have remained at 30% for several years, as indicated by a report released by the National Centre for Biotechnology Information.
These figures could be improved by the implementation of Artificial Intelligence (AI), according to researchers. The utilization of AI in clinics can assist practitioners in the more accurate and impartial assessment of the health of embryos and gametes through the use of image categorization.
Doctors can receive assistance from artificial intelligence in the creation of a personalized treatment plan for couples. Image-processing systems that are propelled by AI can aid in the identification of embryos that have the highest probability of successful implantation.
Consequently, it is anticipated that the assisted reproductive technology market will experience development during the forecast period due to the AI integration into fertility therapies.
Costly ART Procedures
Assisted Reproductive Technology (ART) can become financially unaffordable for certain individuals and couples due to the rapid accumulation of associated costs.
The primary reason for the high cost of ART is the necessity of highly skilled workers, sophisticated medical apparatus, and laboratory processes.
In addition, the costs of pharmaceuticals utilized in assisted reproductive technology can be substantial, particularly for hormone therapy that is essential for the induction of ovulation.
The uncertainty surrounding the efficacy of assisted reproductive technology may exacerbate the financial burden of these expenses, requiring the completion of numerous treatment cycles and the incurring of additional expenses prior to achieving a successful pregnancy.
Additionally, the exorbitant cost of assisted reproductive technology operations remains a substantial impediment for numerous individuals and couples who are interested in infertility treatment.
Increased Health Risks
Potential health concerns for both the mother and the child are associated with ART methods, and they should be comprehensively assessed prior to the commencement of the therapy. Early birth, low birth weight, and a variety of health issues for both the mother and the infants are all potential complications of ART, which entails a substantial risk of multiple pregnancies.
Ovarian hyper stimulation syndrome (OHSS) is a condition that is defined by the enlargement and irritation of the ovaries and is associated with women who undergo assisted reproductive technology operations.
OHSS is generally characterized as a moderate condition; however, it can lead to severe complications, such as the accumulation of fluid in the abdomen and thorax, the formation of blood clots, and the failure of the kidneys. Although assisted reproductive technology is employed to address infertility, it may present potential health risks that could impede its market adoption.
Growing Awareness About IVF
A significant increase in awareness of infertility therapies has resulted in a greater number of individuals and couples actively seeking remedies to surmount fertility obstacles.
The growing recognition of this phenomenon has been accompanied by a shift in social attitudes toward Assisted Reproductive Technology, resulting in a more comprehensive understanding and acceptance of these interventions as viable alternatives to achieving pregnancy. Additionally, there has been a substantial increase in the number of couples who are pursuing assisted reproductive technology operations in the United States.
The recognition of male infertility as a significant factor in the reproductive challenges of couples has heightened the emphasis on the development of innovative therapies for male factor infertility. This has subsequently expanded the potential market prospects and subsequently bolstered the US assisted reproductive technology market.
IVF Technique Holds a Commanding Market Share
|
Market Segment by Technique |
Market Value Share 2023 |
|
IVF |
80% |
Based on the technique segmentation, the assisted reproductive technology market is further segmented into IVF and artificial insemination, where the IVF segment dominates the market share, owing to its high procedural success rate and continuous advancements that satisfy the demand of patients.
To improve the effectiveness of in-vitro fertilization (IVF), sperm were previously administered through injection. At present, a time-lapse imaging technique is employed to obtain an image of the egg division.
As a result, the adoption of fertility services in the assisted reproductive technology market is anticipated to be driven by the development of advanced technologies in IVF treatment during the forecast period.
Fertility Clinics Account for Nearly 70% Revenue Share
|
Market Segment by End Use |
Market Value Share 2023 |
|
Fertility Clinics |
70% |
Based on the end use, the assisted reproductive technology market is further classified into fertility clinics and hospitals, where the fertility clinics segment dominates the market with around 70% of the market share.
The fertility clinics segment in the US market is anticipated to maintain its status as the dominant industry during the projection period by continuing to expand at the highest rate.
The considerable assisted reproductive technology market share and accelerated expansion can be attributed to the demand for a dedicated facility to perform assisted reproductive technology and the rise in the prevalence of infertility cases.
Additionally, it is anticipated that the expansion of this sector will be influenced by factors such as cost-effectiveness, specialization, knowledge in the field, and personalized therapy over the course of the projected period.
January 2024
Ivy Fertility signed a partnership deal with SMP Pharmacy Solutions to improve the patient experience throughout Ivy's 13 reproductive locations.
February 2023
Bumrungrad International Hospital launched its Fertility Centre & IVF Clinic to provide holistic reproductive care, from consultation to assisted reproductive technology treatment and ART care, for families wanting to conceive through the help of technology.
October 2023
Hamilton Thorne Ltd. signed an acquisition deal with Genetics Medical Products and Genetics Services, a leading manufacturer of a diverse array of innovative IVF devices in the assisted reproductive technology market.
The US assisted reproductive technology market is marked by fierce competition and significant technological advancements aimed at improving success rates and patient outcomes.
The US ART market is highly competitive, with leading fertility centres striving to innovate, expand service offerings, and enhance patient outcomes through advanced technologies and patient-centric care.
As competition intensifies, key market players in the region are expected to continue investing in research, technology, and patient support initiatives to maintain leadership positions and address evolving patient needs in reproductive healthcare.
|
Attributes |
Details |
|
Forecast Period |
2024 - 2031 |
|
Historical Data Available for |
2019 - 2023 |
|
Market Analysis |
US$ Billion for Value |
|
Key Companies Profiled |
|
|
Pricing |
|
By Technique
By Procedure
By End Use
To know more about delivery timeline for this report Contact Sales
The market is estimated to exhibit a CAGR of 17.8% during the forecast period.
The US assisted reproductive technology market is segmented based on technique, procedure, and end use.
The Fertility Institutes, Shady Grove Fertility, Pacific Fertility Centre, Boston IVF, and Cleveland Clinic Fertility Centre are some of the major companies in the market.
Fertility clinics are the dominant end use segment.
The US assisted reproductive technology market will be valued at around US$11.3 billion by 2031.
