Growth in the infertility treatment market is primarily driven by factors such as the declining fertility rate, rising number of fertility clinics worldwide, technological advancements, and increasing public-private investments, funds, and grants.
However, the high procedural costs of assisted reproductive technology procedures in developed markets and unsupportive government regulations for certain infertility treatment options are expected to limit market growth to a certain extent.
The fertility rate worldwide is declining steadily owing to various factors, such as the growing trend of late marriages and increasing age-related infertility. Global fertility rates are projected to decline to 2.4 children per woman by 2030 and 2.2 children per woman by 2050.
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The cost of IVF treatment varies from country to country due to the lack of reimbursement policies. A lack of insurance coverage and the poor reimbursement scenario in some parts of the world are limiting the growth of this market.
The infertility treatment market in Asia and other emerging countries is characterized by the growing focus on healthcare infrastructural improvements. Additionally, the medical tourism industry in emerging countries is thriving owing to a number of factors.
In Asia, healthcare facilities are of high quality, treatment procedures are affordable, and many of the doctors and surgeons are trained and educated in the top institutes in the US and Europe. Emerging countries such as India, China, Singapore, Thailand, Brazil, and Malaysia present significant opportunities for the growth of the infertility treatment market.
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To leverage the significant growth opportunities in emerging countries, players are increasingly focusing on undertaking strategic developments agreements/partnerships with regional/domestic players, geographical expansions, and acquisitions.to increase their presence in these markets and tap a large number of customers.
Since the inception of ART procedures, there have been various ethical, legal, and societal controversies regarding the safe administration of gonadotropins, transparency of pregnancy data from clinics, and addressing economic barriers to ART access. Issues related to embryos and what to do with unused embryos are one of the major concerns related to the ART procedure.
The high growth in this owes to the technological advancements and presence of well-established players with strong product portfolio. Along with this growing focus of players towards base expansion through adopting various strategies such as new equipment launch, showcase across the globe is likely to contribute towards the growth of the segment.
The decreasing rates of fertility among females, the growing availability of various fertility treatment options, and the increasing number of fertility centers across the globe are driving the growth of the female infertility treatment market.