Global Fertility Services Market Segments
15 Oct, 2020
The global fertility services market is expected to decline from $17.67 billion in 2019 to $16.95 billion in 2020 at a compound annual growth rate (CAGR) of -4.08%. The decline is mainly due to the COVID-19 outbreak that has led to deferred care in order to avoid visiting hospitals, which resulted in reduced patient volume. The market is then expected to recover and reach $22.47 billion in 2023 at a CAGR of 9.86%. Growing infertility rates are anticipated to boost the demand for fertility services during the forecast period. However, the high cost of fertility services is expected to limit the growth of the fertility services market.
The fertility services market consists of sales of infertility treatment services and related products by entities (organizations, sole traders and partnerships) that provide infertility treatment services which are used in various applications to treat infertile patients. Fertility treatment is a medical procedure intended to increase the chances of conceiving a child. Only goods and services traded between entities or sold to end consumers are included.
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The global fertility services market is further segmented based on type and geography.
By Procedure: Assisted Reproductive Technology (ART), In-Vitro Fertilization, Artificial Insemination
By Service: Fresh Non-Donor, Frozen Non-Donor, Egg and Embryo Banking, Fresh Donor, Frozen Donor
By Application: Male, Female.
By Geography: The global fertility services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Fertility Services Market
Companies in the fertility services market have witnessed significant growth in the number of research collaborations as well as research funding approvals. Key companies operating in the market are projected to increase their R&D expenditure to introduce new advanced techniques and drugs used for fertility treatments.
Fertility Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides fertility services market overviews, analyzes and forecasts fertility services market size and growth for the global fertility services market, fertility services market share, fertility services market players, fertility services market size, fertility services market segments and geographies, fertility services market trends, fertility services market drivers and fertility services market restraints, fertility services market’s leading competitors’ revenues, profiles and market shares. The fertility services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.