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The market for infertility treatment is growing at a steady pace. Infertility affects millions of people around the world, the exact number is not known but it has been estimated to be over 5 million in the United States alone according to an American Society for Reproductive Medicine study. While there are many causes for infertility, either male or female, most common cause is due to issues with reproductive organs or both. Another reason would be stress and poor diet which can impact sexual health. Studies show that more cases of infertility have been reported in females than males due to menopause and other factors.
Rapidly Declining Fertility Rate in Women To favor Growth of Infertility Treatment Market
In India there are 2-3 million infertile couples trying artificial methods of getting pregnant every year making this a large potential market opportunity for pharmaceutical companies and diagnostic centres. India also lacks fertility clinics but is slowly catching on to the trend along with other countries such as China and United States. Pharmaceutical companies that manufacture infertility medication will benefit from this growing market since people who can't get pregnant naturally will turn to medication that can possibly help them.
About 52% of infertility cases are diagnosed in women and 48% in men. This global industry makes approximately $15 billion annually excluding the cost of medications which is an additional $4-$5 billion. According to HFEA, each year one in seven couples in UK alone seek infertility treatment with an average of 2 children being born per successful treatment cycle. The number has increased by 10% in recent years due to increased awareness about infertility issues, delay in marriages, increase in work stress, obesity etc.
The European IVF Monitoring (EIM) Report suggests that 60-65% of total worldwide IVF procedures occur in Europe along with the United States. The report also states an annual increase of more than 8% in the number of procedures performed over the last 10-15 years and predicts a similar rate for 2021. It is estimated that between 1 and 2 million people used some type of infertility treatment worldwide in 2020 and this is expected to rise by about 20-30% per year until 2027.
Infertility represents about 7% of people in North America who are childless. The condition may affect as many as one of every six couples at some time, and is the most common reason for consulting a fertility specialist. It has been estimated that 2-5% of women in this country have difficulty getting pregnant or carrying a baby to term. Of these infertile people: - 18% seek treatment within the first year of trying to conceive - 54% seek treatment after two years of trying to conceive - 25% never seek any medical advice. This has given to the North America Infertility treatment market and is projected to continue doing the same in the years to come.
Delayed Childbirth Encourages Infertility Treatment Market to Remain Bullish
The biggest driving factor for this market is the increasing number of people wanting to have children later in life. As life expectancy increases, so is the age of pregnancy. This leads to an increase in infertility cases worldwide with women being more affected by this issue than men since women are born with a finite number of eggs which decreases with age and is one reason why fertility starts declining after 35 years of age.
Infertility treatment procedures are expensive and out of reach for most middle-class couples living in developing countries. The cost can go up to as much as $15,000 per cycle or even higher that doesn't include the medication costs which also vary depending on the type of treatment that needs to be conducted. There are numerous options available for infertility treatment. Each one has its own set of pros and cons, side effects, cost of treatment, success rates etc.
Assisted Reproductive treatment to Hold Dominance in Infertility Treatment Market
The demand for assisted reproductive technology (ART) is increasing in India and there appears to be a positive correlation between the use of ARTs and the rise in infertility, especially among women. Infertile couples are increasingly resorting to ARTs such as In Vitro Fertilisation (IVF) and Intra Cytoplasmic Sperm Injection (ICSI). The proportion of IVF cycles using fresh embryos increased from 50% in 2010 to 70% in 2020. There has been a sharp increase in the number of IVF units from about 700 in 2010 to more than 1,200 in 2020.
As ARTs are expensive, they are beyond the reach of a majority of middle-class population. Couples are increasingly resorting to IVF centres in metro cities for IVF treatment. The use of ICSI has also increased exponentially because it reduces pregnancy loss rates by three times. The success rate of IVF is about 30%, which was much lower than the live birth rates achieved via ICSI (35%) or GIFT (40%). Between 2012 and 2020, infertility prevalence almost tripled among men and doubled among women, especially for the latter in their late 30s.
A few IVF clinics are offering IVF treatment at an affordable cost. IVF is being promoted as a safe and effective treatment for infertility. Although the law in India does not yet recognize surrogacy or IVF, commercial surrogacy has taken off in low key thus creating a need for greater regulation of ARTs. The success rate of IVF varies from about 10-25% with one live birth per every three cycles of IVF.
The number of fertility specialists has almost doubled over the past five years due to increasing demand for IVF & ICSI treatments. This is projected to improve the overall revenue generation of the infertility treatment market.
Asia Pacific to Offer Lucrative Growth Opportunity for Infertility Treatment Market
The infertility treatment market in Asia and other emerging regions 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, including lower cost of procedures, quality-of-care offered at par with international standards, and availability of ancillary facilities for postoperative care. However, there are several constraints that limit adoption of modern infertility treatment modalities by patients living in emerging economies. The major issues affecting installation and penetration of IVF technology include cost considerations, lack of awareness about available infertility treatments among consumers, limited insurance coverage for infertility treatment services in these regions, inadequate infrastructure for providing diagnostic tests required to determine cause of infertility in couples, low physician awareness, and lack of advanced laboratories for semen analysis.
The infertility treatment market in Asia is expected to grow at a significant pace due to rapid urbanization, increasing per capita income, changing lifestyles, and the transformation of traditional practices. As these countries become more developed economically, there will be increased availability of resources for providing medical care. The growth potential in the infertility treatment market provided by China is estimated to be the highest among all emerging countries owing to factors such as high disposable incomes; growing health awareness; increasing rate of diseases associated with childbearing age group; technological advancements in fertility centers; growth opportunities for IVF centers within large cities; and launch of several product initiatives by players operating in China's infertility treatment market.
The infertility treatment market in India is expected to account for a significant share of the overall Asia Pacific region, followed by China and others. The growth of the infertility treatment market in India will be driven by factors such as: increased economic development; growing awareness about infertility and its related ailments; increasing trend toward planned pregnancies; rising adoption of advanced reproductive technology (ART), including IVF; pre-conception and prenatal diagnosis facilities; improving healthcare infrastructure; and launch initiatives such as new product launches, partnerships, agreements, collaborations, and expansions.
Global Infertility Treatment Market: Key Players
Some of the key players in the global infertility treatment market are Merck & Co., Inc., Johnson & Johnson Services, Inc., Ferring Pharmaceuticals A/S, Pfizer, Inc., Bayer AG, Sanofi S.A., and Abbott Laboratories and others.
Key Elements Included In The Study: Global Infertility Treatment Market
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