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. This declining fertility rate has led to a significant increase in the demand for infertility treatment products that determine the fertility window in males and females.
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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.
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.
In order to monitor activities related to ART procedures, strict regulations have been formulated by authorities in various countries across the globe. Authorities such as the International Federation of Fertility Societies (IFFS), European Society of Human Reproduction and Embryology (ESHRE), Indian Council of Medical Research (ICMR), Ethics Committee of American Society for Reproductive Medicine (ASRM).
The high growth in this owes to the technological advancements and presence of well-established players with strong product portfolio.
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.