Assisted Reproductive Technology Market Foreseen to Strike upto 2020 to 2025
Same Sex Marriages increase Demand for Assisted Reproductive Technology
Reproduction segment is currently blooming. The major factor responsible for its growth are improved access to fertility clinics and fertilization technology advancements. Different organizations have come forward to encourage people to avail reproductive assistance services. Angels of Hope Foundation, BabyQuest Foundation and Pay-it-Forward Foundation are some of the organizations in US that offer grants to make fertility treatment affordable as it is cost-intensive which discourages the general public. Reproductive outcomes from such services have been positive. This increases the adoption rate of assistive reproductive technologies like IVF and IUI. Technologies have significantly increased the number of treatments that are available for infertility.
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Modern lifestyle induces productivity issues
In many economies across the globe, same sex marriages are made legal. Such marriages are eyed as prominent revenue source for the global assistive reproductive technology market. Latest Fact.MR report forecasts that the revenue of assistive reproductive technology will increase by 6.3% by the end of 2020.
Modern lifestyle has induced stress in people. This adversely effects the reproductive capacity in men and women, compelling them to divert towards assistive reproductive technologies. Centers for Disease Control and Prevention (CDC) give the data that 82% ART cycle induced pregnancies are based on use of fresh non-donor eggs. The major factor driving this rate is the desire to have a child with eggs form one person. Fresh non-donor eggs are trending as the medium for using assistive technology. It is primarily used by women below the age of 35. Major factors like late family planning and increase in prevalence of chronic diseases such as cancer cause infertility issues. Medical freezing is getting recommended by medical professionals for women to reduce the risks of infertility.
Employers offer perks and incentives to employees
Major employers are addressing infertility issues in their employees. They have come up with perks and incentives to encourage employees to store eggs so that they do not undergo infertility issues in future. These factors are expected to surge the demand for frozen non-donor procedures. Assistive reproductive technology is used to treat infertility using many treatment cycles, which makes the treatment very expensive. Fertility clinics have identified the scope of opportunities in treatment of productivity issues. They have introduced one stop solutions that include diagnostic as well as the treatment. Major stake holders are investing towards development of embryology labs that are used to ensure safe and efficient gamete handling. Medical professionals are preferring fertility clinics of treatment as these spaces offer quality service and are laced with advanced technologies. Fact.MR report predicts that fertility clinics can generate US$16.8Bn revenue by the end of the year 2020.
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Different attitude is adopted towards assisted reproductive technology in different regions. This happens because such technologies get different implementation in terms of reimbursement facilities, patient outcomes and cost in different regions. Fact.MR report highlights the fact the 53% of the Netherland’s population ops for quality reproductive treatments and chooses to even go abroad for it. Cross-border reproductive care is highly popular in European countries.