Fertility Services Market Analysis: Forecast Market Size, Major Driver And Key Trends In Treatments And Procedures – By The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, April 26, 2023 /PRNewswire/ — As per The Business Research Company’s Fertility Services Global Market Report 2023, the global fertility services market size will grow from $47.1 billion in 2022 to $54.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 14%. The global fertility treatment market size is then expected to grow to $90.1 billion in 2027 at a CAGR of more than 13%.

The growing adoption of fertility services to aid in pregnancy will drive the fertility services market growth in the forecast period. People facing problems such as old age, premature ovarian failure, male infertility, blocked tubes and others are adopting IVF services to aid in pregnancy. The adoption rate of IVF is considerably higher among people aged between 35 and 39 years, which is expected to drive demand for fertility services. For instance, as of 2023, according to a fertility specialist and chair of Medical Education for the TCU School of Medicine, a US-based graduate medical school, most females at 35 have a 15% to 20% chance of getting pregnant in a given month. Age 35 is a point where fertility for women declines. Therefore, the increasing adoption of IVF services to aid in pregnancy will propel the fertility market growth in the forecast period.

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Players in the fertility services market are using the Internet of Things (IoT) enabled solutions to provide their clients with accurate data, dual checkpoints, data accessibility from anywhere and intelligent alarm systems. IoT helps by taking technology to the patient instead of patients coming to an assigned room in a hospital. IoT in fertility services market helps medical diagnostics in becoming location-independent. For instance, in 2020, Indira IVF, an India-based IVF specialty clinics chain, introduced the Internet of Things (IoT) technique in its embryology labs. The IoT in IVF technology allows users to access and monitor data easily from home, helping users to control the quality 24/7 and 365 days.  In addition, in 2020, Saathi, a smart IoT-based pill reminder was designed, which acts as a reminder aiming to help women opting for IVF. Saathi helps women stick to their prescription plans given to them by their doctor, and it also enables real-time tracking of medicine consumption.

In addition, artificial intelligence is increasingly being incorporated in fertility services market especially in IVF processes. For instance, in October 2022, Alife, a US-based start-up launched AI technology to advance IVF (in vitro fertilization) treatment outcomes and lower costs. The new artificial intelligence software aids fertility clinics in optimizing and helping in clinical decision-making during critical stages of the IVF process. 

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According to the fertility services market overview, players in the fertility services market are also focusing on mergers and acquisitions to expand their product portfolio. For instance, in February 2023, Ivy Fertility, a US-based innovator in the field of advanced reproductive technologies, in-vitro fertilization (IVF), and third-party reproduction, acquired Fertility Associates of Memphis, for an undisclosed amount. The Ivy Fertility team collaborated with highly skilled and compassionate partner to provide patients with superior care and service in diagnosing and treating infertility, and successful outcomes.

The fertility services market report describes and explains the fertility services market and covers 2017 to 2022, termed the historic period, and 2022 to 2027 termed the forecast period, along with further forecasts for the period 2027-2032. The fertility market overview evaluates the fertility services market across each region and for the major economies within each region.

View More Similar Market Reports:

Fertility Treatments Global Market Report 2023  
https://www.thebusinessresearchcompany.com/report/fertility-treatments-global-market-report

Fertility Drugs Global Market Report 2023  
https://www.thebusinessresearchcompany.com/report/fertility-drugs-global-market-report

IVF Services Global Market Report 2023  
https://www.thebusinessresearchcompany.com/report/ivf-services-global-market-report

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