As according to the newest industry statistics, the data revealed has been gazing promising expansion since the previous few years. The global fertility services market is expected to rise from its initial estimated value of USD 20,398.07 million in 2018 to an estimated value of USD 41,396.21 million by 2026 registering a CAGR of 9.25% in the forecast period of 2019-2026.
With couples choosing to reproduce later in life, fertility challenges that are on the rise, or increasing number of female breadwinners that can have greater authority over their pregnancies, modern age fertility treatments are on the rise more now than ever, and this trend is like to continue in the next decade.
Not just the rise in the number of fertility specialists providing the expertise to overcome infertility, there has also been considerable development in the research allocated to the field of reproductive sciences, and its commercialization. The fertility tech has also led to “fertility startups” budding in recent years.
The major market drivers of the industry are the current lifestyle choices and technological developments regarding fertility treatment. However, the expenses associated with the fertility cures followed by inadequate policies prove to be roadblocks leading to limited/ restricted access of the treatments.
“In recent years we have seen a significant influx of patients seeking guidance and treatment options regarding infertility,” said Allison P. Boyle, MS PA-C and Clinical Professor at Touro School of Health Sciences, adding that the study was is consistence with extrapolated data showing that a major percentage of married and childless women are being diagnosed with impaired fertility, difficulty in becoming pregnant or carrying to term.
Boyle, along with other fertility experts all around the globe also presume demand for fertility services; whether it be in vitro fertilization (IVF), egg freezing, artificial insemination, or infertility drugs in coming years. The fertility industry is also aimed at better research and innovation when it comes to assisted reproduction.