Popularity of Fertility Tourism driving Infertility Treatment Market – Arizton
Denmark, India, Malaysia, Turkey, Thailand, Czech Republic, Greece, Spain, and the US are the major destinations for fertility treatment
Arizton’s recent market research report on the global infertility treatment market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by product (drugs and devices), procedure (drug therapy, ART procedure, and surgical intervention), end-user (infertility clinics, hospitals, gynecological & urology clinics, and others), cause (female infertility, male infertility, and others), and geography (Europe, North America, APAC, Latin America, and MEA).
The global infertility treatment market is expected to grow at a CAGR of over 6% during the period 2018−2024.
Factors such as the declining fertility rate, the increasing global number of fertility clinics, technological advancements in fertility treatment, and increasing public-private investments are the major factors driving the growth of the fertility treatment market. With the high prevalence of infertility, the demand for infertility treatments, especially assisted reproduction treatment (ART) methods and IVF procedures, are gaining widespread significance globally.
The leading drivers and trends propelling the growth of the infertile treatment market are discussed below:
Growing Prevalence of Infertility Worldwide
According to several pregnancy studies, one in six women aged between 35 and 39 years have chances of conceiving naturally in the first year. Similarly, if the partners are above 40 years, more than one in four women are unlikely to conceive naturally. At present, a majority of developing and developed countries, the mean age of women at first birth is more than 28 years, clearly indicating the increasing trend of delay in childbearing among married couples. In countries like the Czech Republic and Korea, it has increased by around 5 years. In countries such as Japan, Italy, Ireland, Korea, Spain, Luxembourg, and Switzerland, the average age is between 30 and 32 years. Similarly, the average age of women at first birth in France, Canada, Germany, Denmark, Sweden, and the UK is between 28 and 30 years. Therefore, the increasing prevalence of infertility among married couples, coupled with the aging population and delay in childbearing among working married women, will fuel the demand for fertility treatment.
Increasing Popularity of Fertility Tourism
The globalization of healthcare and the increasing popularity of medical tourism, especially fertility tourism, have encouraged several couples to travel abroad, seeking state-of-the-art infertility treatments. It is a subset of medical tourism that is becoming increasingly popular internationally, especially among people from countries where regulations are too strict for fertility treatment. In 2016, around 14 million cross-border patients sought services for female and male infertility treatment. Countries such as Denmark, India, Malaysia, Turkey, Thailand, Czech Republic, Greece, Spain, and the US are the major destinations for fertility tourism. In India, more than 600 fertility clinics offering fertility treatment at around 65% less cost than other developed countries. Mumbai, Bangalore, Hyderabad, Chennai, and Delhi are the major destinations, which accommodate a wide array of fertility clinics offering affordable ART procedures.
Innovation in Infertility Treatment
A wide array of innovative technologies adopted to treat female and male infertilities include intracytoplasmic sperm injection, oocyte donation, and embryo cryopreservation. End-users are using these latest procedures due to vendors’ continuous efforts on product development and innovation, which has led to the launch of a wide array of innovative and breakthrough equipment and devices to perform various fertility treatment options successfully. The most significant technological advancement in infertility treatment has been in the field of cryopreservation. Increased efficiency in performing embryo cryopreservation using latest-generation devices has increased the pregnancy rates per stimulation cycle.
The Cooper Companies, Cook Medical, Vitrolife, Ferring Pharmaceuticals, IVFtech, Irvine Scientific, and Merck KGaA are identified as prominent vendors in the global infertility treatment market.
The complete overview of the latest market research report on the global infertility treatment market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
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