What is Infertility?
Infertility is a condition where a person is unable to reproduce by natural means. Treatment of infertility depends on the cause of the condition. The various causes of infertility include sexually transmitted infections, genetic problems, DNA damage due to smoking, diabetes mellitus, and toxins such as chemical dust, glue, and pesticides.
The fertility rate has halved since 1960. Treatment options for infertility include education or spreading awareness, medications to assist the development of egg during the ovulation period, insemination, in vitro fertilization (IVF), and third-party reproduction surgery.
What is the growth rate of the Global Infertility Treatment Market?
The global infertility treatment market size was worth US$ 2,405.6 million in 2020 and is estimated to reach US$ 4,395.3 million by 2028, growing at a CAGR of 8.1 % during the forecast period 2022-2029.
The global infertility treatment market growth is driven by the declining fertility rate, rising fertility clinics worldwide, technological advancements, high prevalence of lifestyle disorders, and growing public awareness about infertility and the available treatment options.
Industry Dynamics:
The growing infertile population is the primary driver for the growth of the fertility treatment market globally. According to UCLA Health report 2020, nearly 15% of the couple are estimated to have trouble conceiving and over 50 million couples experience infertility globally.
Changing lifestyles and factors such as smoking, excessive alcohol consumption, poor nutrition, and high Body-Mass Index (BMI) are resulting in reduced fertility rates among the male and female populations.
Eastern Asia and Eastern European countries recorded an average fertility rate of 1.5 children per woman in 2019, which is considered significantly lower. Further decline in fertility rates in countries such as China is likely to uproot a population crisis.
This declining fertility rate has led to a significant increase in the demand for infertility treatment products that determine the fertility window in males and females.
According to a recent survey, an estimated 40-50 million women and 45 million men suffered from infertility, and it is estimated that more than ten million Chinese infertile couples require ART treatment.
Strong intervention from government, healthcare bodies, and interest from women towards the improvement of fertility rate is an immediate point, thus providing growth potential for the infertility treatment market in the forecast period.
Industry Opportunities:
Emerging markets such as India, Brazil, and Mexico are expected to offer significant growth opportunities for players in the infertility treatment market. The infertility treatment market in Asia and other emerging countries is characterized by the growing focus on healthcare infrastructural improvements.
Additionally, the medical tourism industry in emerging countries is thriving owing to a number of factors.
In Asia, healthcare facilities are of high quality, treatment procedures are affordable, and many doctors and surgeons are trained and educated in the top institutes in the US and Europe.
Impact of COVID-19 on the Industry:
As the virus has spread globally, various countries and their fertility centers were impacted at different times and to different extents. Most countries previously actively engaged in ART and MAR services are now at various stages between suspension and resumption of services.
As of May 31, 2020, COVID-19 has been reported to exist in 188 countries. While local circumstances and resources have largely dictated the response, a debate has also ensued pitting those prioritizing containment of the virus against those emphasizing patient autonomy.
Since the outset of the pandemic, the International Federation of Fertility Societies (IFFS) has monitored international guidance, compiling a registry of relevant links and local responses.
Regional Share Insights:
The North American infertility treatment market is estimated to grow with a CAGR of 8.2% during the forecast period, reaching USD 1,390.1 million in 2028. The United States held a market revenue share of 71.1% in the year 2020 in the North American infertility treatment market. It accounts for the largest market share and is mainly attributed to the declining fertility rate and rising fertility clinics in the United States.
Mexico has become a popular destination for fertility tourism, making it a top overseas destination for treatments like IVF and egg freezing particularly for people from the United States.
The declining fertility rate is expected to drive the market for infertility treatment in Brazil. Moreover, the increasing medical tourism in the country is expected to provide opportunities. According to the Fertility Treatment Abroad, Brazil has approximately 150 centers offering infertility treatments and over 20 medical centers.