Albany, NY -- (SBWIRE) -- 01/23/2020 -- The global assisted reproductive technology (ART) market has gathered momentum on the back of growing focus of clinicians and policy makers to accommodate risk-benefit trade-offs for patients. Relentless efforts of the proponents to advance vitro fertilization (IVF)/intracytoplasmic sperm injection (ICSI) protocols for improving live births impart a considerable growth momentum, notes Transparency Market Research (TMR). The social burden of infertility among couples has been rising due to the marked of secondary infertility, spurring research to improve ART procedures. Resultantly, the ART market has benefitted from efforts of the overall healthcare fraternity to optimize maternal and infant outcomes from IVF and ICSI. Further, clinicians are also focusing on expanding procedural choices expanding the business avenue in the assisted reproductive technology market.
The assisted reproductive technology market was estimated at US$22,100.0 million in 2016 is expected to climb to revenues worth of US$37,789.6 million by 2025 end. During 2017–2025, the market is projected to rise at CAGR of 6.3%.
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Sizable Funding in ART Technologies Aim to Reduce Global Burden of Infertility
Over the past decade, several countries in developing and developed regions have witnessed sizable funding in ART technologies. The growing uptake in industrialized nations with successful outcomes has propelled the growth of the assisted reproductive technology market. North America for instance has seen growing acceptance of ART to overcome the burden of infertility. The uptake is fueled by expanding continuum of reproductive health care, especially in the U.S., which has helped bring down the procedural risks associated with ART.
Developing markets such as Asia Pacific have shown remarkable potential on the global landscape. The region is expected to serve leading share of revenues to the global assisted reproductive technology market.
Healthcare Providers Highlight Need of Improving Care Plans For Women Post ART
Overall, the global assisted reproductive technology market has seen rapid advances made in healthcare to improve care plans for women who have attained pregnant using any assisted reproductive technology. Increased focus of clinical practice guidelines (CPGs) have helped maternal and antenatal care providers improve the outcome of ART pregnancies, especially in developed nations of the world. A variety of complications have sought to reduce the outcomes of ART, more notably risk of congenital malformations and preeclampsia, intensifying the need for such guidelines. A case in point is recent CPGs published by Society of Obstetricians and Gynaecologists of Canada (SOGC). Such initiatives by healthcare systems will likely expand the potential of the assisted reproductive technology market.
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Players Focus on Expanding Product Portfolio
The global assisted reproductive technology market features a fairly fragmented landscape. Top players have attained stronghold in the market due to their robust product portfolio. Moreover, a few are focusing on squarely on geographical expansions.
Well-entrenched players in the global assisted reproductive technology market include Nikon Corporation, Merck & Company, Inc., Planer PLC, Laboratoire CCD, Esco Micro Pte. Ltd., Nidacon International AB, Hamilton Thorne, Inc., Irvine Scientific, CooperSurgical, Inc., and Vitrolife AB.