Assisted reproduction technology (ART) devices have been designed and developed to solve issues pertaining to fertility. Ever since the initial introduction of IVF (in-vitro fertilization) in 1978, technique to resolve pregnancy related issues have come a long way. The advent of assisted reproductive technology offer solutions such as in-vitro fertilization (IVF), gamete intrafallopian transfer (GIFT), intracytoplasmic sperm injection (ICSI), zygote intrafallopian transfer (ZIFT), intrauterine insemination (IUI), and surrogacy. The Centers for Disease Control and Prevention (CDC) states that 208,604 ART cycles were conducted at 458 clinics in the U.S., of which 57,323 were live births and 70,354 were live born infants in 2014. Though the usage of ART is not significant, its demand has still soared in the recent past.
The research report by Transparency Market Research provides a comprehensive outlook of the global Assisted Reproduction Technology Devices Market. The publication is aimed at providing a detailed analysis of the segments in the market, the competitive landscape, financial outlook of the companies operating in the market, and the supply chain analysis.
The global assisted reproduction technology devices market is expected to witness a significant boost in the coming years due to the growing support by governments for research and development. The rise in funding for developing efficient and safe assisted reproduction technology devices is expected to make a positive impact on the global market.
The high prevalence of male and female infertility due to poor lifestyle choices, deferred pregnancies, and health conditions have collectively boosted the demand for assisted reproduction technology devices. Infertility in males is observed due to poor sperm count, blocked sperm ducts, and poor sperm movement. On the other hand, female infertility is usually a result of dysfunctional fallopian tubes along with issues related to cervix or uterus.
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The growth of medical tourism and the possibility of surrogacy in emerging economies has been crucial to the growth of this market in recent years. The high cost of using these technologies and devices in developed countries has dissuaded several patients and made them migrate to developing countries, where seeking medical treatment is relatively cheaper.
The global assisted reproduction technology devices market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Of these, North America is expected to lead the global market in the coming years. The high rate of awareness amongst people about assisted reproduction technology devices market is expected to drive the regional market. Furthermore, incredible governmental support to the overall market in North America for in-vitro fertilization and high infertility rates are projected to boost the market’s growth.
Europe also expected to steady growth in the overall assisted reproduction technology devices market in the coming years. The rising rate of medical tourism and acceptance of IVF are expected to propel the regional market in the coming years. Asia Pacific is also projected to emerge as a significant market for the assisted reproduction technology devices due to the emergence of medical tourism industry. The rising disposable incomes, late pregnancies, and rising women employment are expected to fuel the growth of this regional market in the near future.
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Some of the key players operating in the global assisted reproduction technology devices market are Microm UK Limited, Irvine Scientific, Parallabs, Cryolab Ltd., European Sperm Bank Cosmos Biomedical Limited, and Origio.