The coronavirus pandemic is currently presenting various challenges to clinical healthcare providers and patients across the globe. Logistical issues, managing patients with the disease, prioritizing patients with comorbidities and pre-existing conditions, and protecting public & hospital frontline workers from exposure to the COVID-19 infection are the major challenges faced by healthcare systems across the globe.
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.
During the COVID-19 pandemic, a 90% drop was observed in the number of people undergoing IVF cycles. The spread of COVID-19 has not only impacted fertility clinics owing to the cancellation of IVF treatments but has also impacted fertility decisions among couples who were opting for IVF treatment before the pandemic.
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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Along with fertility surgeries, thousands of cycles of ART procedures such as in vitro fertilization (IVF) are performed every year globally. 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.
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.
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 infertility treatment market include major Tier I and II suppliers of infertility treatment equipment, media & consumables are The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Biomedx (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan).
The assisted reproductive technology segment captured the largest share of the infertility treatment market procedures during the forecast period. The growing awareness of the presence of ART, rise in success rate of this procedure and growing worldwide acceptance of ART is likely to boost 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.
Significant rise in the medical tourism, Increase in the awareness of availability of infertility treatment procedures, growing fertility centers in the region, rising healthcare expenditures, increasing rate of infertility in the region, and initiatives by the government to increase the accessibility of the infertility treatment in the emerging nations.
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