The assisted reproductive technology (ART) market refers to the various medical procedures and technologies used to assist individuals and couples in achieving pregnancy. These procedures can include in vitro fertilisation (IVF), gamete intrafallopian transfer (GIFT), and donor egg or sperm procedures. The ART market has grown significantly in recent years, with the global market expected to reach $441 million by 2030, according to GlobalData.
One driving factor behind the growth of the ART market is the increasing prevalence of infertility. According to the World Health Organization (WHO), approximately 15% of couples globally experience infertility, and ART procedures can provide a solution for these individuals. In addition, advances in medical technology have made ART procedures more successful and accessible, leading to an increase in demand.
Another factor contributing to the growth of the ART market is the trend towards delayed childbearing. As more women pursue higher education and careers, they are waiting longer to start families. This trend, coupled with the decline in fertility that naturally occurs with age, has led to an increase in the demand for ART procedures.
However, the ART market is not without challenges. One major challenge is the high cost of these procedures, which can be financially out of reach for many individuals and couples. In addition, ART procedures are not always successful and can be emotionally and physically taxing on patients. There is also ongoing debate and ethical concerns surrounding the use of donor eggs, sperm, and embryos.
Despite these challenges, the ART market is expected to continue to grow in the coming years, with a particular emphasis on the development of new technologies and treatments. As the demand for ART procedures continues to rise, it will be important for the industry to address the challenges and ethical concerns surrounding these procedures to provide safe and effective treatment options for individuals and couples seeking to start or grow their families.