MARKET OUTLOOK
The Asia Pacific infertility (testing and treatment) market is expected to rise at a CAGR of 7.80% throughout the forecast period 2019-2027.
India, China, Japan, South Korea, ASEAN countries, Australia & New Zealand and rest of APAC form the infertility (testing and treatment) market in the Asia-Pacific region. The market in the region is driven by low-surrogacy cost in India, rising disposable incomes and an increase in infertility due to an unhealthy lifestyle. Also, the aging population and low birth rates in countries such as South Korea, Singapore and Japan are expected to drive the market demand.
Japan has the highest proportion of the aging population. In addition, the initiatives taken by governments in their respective regions for substantial investments in the pharmaceutical industry and healthcare are providing opportunities for the market to grow over the forecasting years.
A rising trend of medical tourism has been observed in Asia-Pacific countries. The preferable countries for infertility treatments are India and Thailand. The major reason for the high rate of medical tourism in these countries is the low cost of treatment. In India, the cost of IVF is 70% of the total IVF cost in the US. Moreover, the presence of highly-skilled doctors and developed infrastructure in India is also increasing medical tourism in India. Thailand provides gender selection options and is a popular destination for couples looking for family balance.
The infertility (testing and treatment) market in China is anticipated to grow at a significant pace during the forecast period. China is the second largest market after Japan. A considerable percentage of men and women of reproductive age in China have infertility issues and also have limited access to ART facilities. The fertility rate in China is increasing. However, the government is taking IVF as a method to control birth rates. China, with its one-child policy, has a high number of families that desperately need a single child. The country was offering IVF treatments through government-run hospitals till the mid-nineties. A population close to 1.3 billion is a massive market in itself even if infertility rates are in line with the global infertility rates.
COMPETITIVE OUTLOOK
The key companies profiled in the report include Genea, Endo Pharmaceuticals, Andrology Solutions, OvaScience, Vitrolife AB, The Cooper Companies, Inc., Progyny, Esco Micro Pte. Ltd., Halotech DNA, Quest Diagnostic, Ferring Pharmaceuticals, Merck, Irvine Scientific, Origio and Thermo Fisher Scientific, Inc.