Assisted Reproductive Technology Global Market Opportunities and Strategies to 2033

This report describes and explains the assisted reproductive technology market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global assisted reproductive technology market reached a value of nearly $37.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.6% since 2018. The market is expected to grow from $37.6 billion in 2023 to $55.91 billion in 2028 at a rate of 8.3%. The market is then expected to grow at a CAGR of 8.4% from 2028 and reach $83.8 billion in 2033.

Growth in the historic period resulted from the increasing prevalence of PCOS (polycystic ovary syndrome), growing trend of late parenthood, increase in same-sex couples, rise in male infertility and increased healthcare expenditure. Factors that negatively affected growth in the historic period were high cost of fertility services and low success rates of IVF.

Going forward, the technological developments, growing prevalence of obesity, rising number of infertility cases, increasing government initiatives and funding and rise in disposable income will drive the market. Factors that could hinder the growth of the assisted reproductive technology market in the future include stringent government policies and high cost of treatment.

The assisted reproductive technology (ART) market is segmented by technology into in vitro-fertilization (IVF), artificial insemination (AI-IUI) and other technologies. The in vitro-fertilization (IVF) market was the largest segment of the assisted reproductive technology (ART) market segmented by technology, accounting for 83.2% or $26.12 billion of the total in 2023. Going forward, the artificial insemination (AI-IUI) segment is expected to be the fastest growing segment in the assisted reproductive technology (ART) market segmented by technology, at a CAGR of 10.4% during 2023-2028.

The assisted reproductive technology (ART) market is segmented by procedure type into fresh non-donor, fresh donor, frozen donor, frozen non-donor and embryo or egg banking. The fresh non-donor market was the largest segment of the assisted reproductive technology (ART) market segmented by procedure type, accounting for 48.5% or $15.22 billion of the total in 2023. Going forward, the embryo or egg banking segment is expected to be the fastest growing segment in the assisted reproductive technology (ART) market segmented by procedure type, at a CAGR of 10.7% during 2023-2028.

The assisted reproductive technology market is segmented by end-user into hospitals, fertility clinics and other end-users. The fertility clinics market was the largest segment of the assisted reproductive technology market segmented by end-user, accounting for 48% or $18.06 billion of the total in 2023. Going forward, the fertility clinics segment is expected to be the fastest growing segment in the assisted reproductive technology market segmented by end-user, at a CAGR of 9% during 2023-2028.

The assisted reproductive technology (ART) testing market is segmented by ART testing/diagnosis into in ovulation testing, hysterosalpingography, ovarian reserve testing, genetic testing and other tests. The other tests market was the largest segment of the assisted reproductive technology (ART) testing market segmented by ART testing/diagnosis, accounting for 33.3% or $2.07 billion of the total in 2023. Going forward, the other tests segment is expected to be the fastest growing segment in the assisted reproductive technology (ART) testing market segmented by ART testing/diagnosis, at a CAGR of 6.6% during 2023-2028.

The other tests market is segmented by ART diagnosis/testing into in computer assisted semen analysis (CASA), sperm penetration assay, microscopic examination and others testing/diagnosis. The computer assisted semen analysis (CASA) market was the largest segment of the assisted reproductive technology market segmented by ART testing/diagnosis, accounting for 52.4% or $1.08 billion of the total in 2023. Going forward, the sperm penetration assay segment is expected to be the fastest growing segment in the assisted reproductive technology market segmented by ART testing/diagnosis, at a CAGR of 8.5% during 2023-2028.

North America was the largest region in the assisted reproductive technology market, accounting for 34.9% or $10.95 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the assisted reproductive technology market will be Asia-Pacific and North America, where growth will be at CAGRs of 6.4% and 6.1% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 5.6% and 5.3% respectively.

The global assisted reproductive technology market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 17.9% of the total market in 2022. Vitrolife was the largest competitor with a 9.8% share of the market, followed by Ferring B.V. with 3.7%, Progyny Inc. with 1.5%, CooperSurgical Inc. with 1.2%, FUJIFILM Irvine Scientific, Inc. with 1.1%, Monash IVF Group with 0.4%, Hamilton Thorne Inc. with 0.2%, Genea Limited with 0.1%, IVI-RMA with 0.01% and Bloom IVF Centre with 0.01%.

The top opportunities in the assisted reproductive technology (ART) market segmented by technology will arise in the in vitro-fertilization (IVF) segment, which will gain $13.22 billion of global annual sales by 2028. The top opportunities in the assisted reproductive (ART) technology market segmented by procedure type will arise in the fresh non-donor segment, which will gain $8.01 billion of global annual sales by 2028. The top opportunities in the assisted reproductive technology market segmented by end-user will arise in the fertility clinics segment, which will gain $9.73 billion of global annual sales by 2028. The top opportunities in the assisted reproductive technology (ART) testing market segmented by ART testing/diagnosis will arise in the other tests segment, which will gain $785.5 million of global annual sales by 2028. The top opportunities in the other tests market segmented by ART testing/diagnosis will arise in the computer assisted semen analysis (CASA) segment, which will gain $430.6 million of global annual sales by 2028. The assisted reproductive technology market size will gain the most in the USA at $4.55 billion.

Market-trend-based strategies for the assisted reproductive technology market include key players launching innovative programs to promote art and support sustainability, impact of artificial intelligence on assisted reproductive technology, advanced technological solutions in assisted reproductive technology, blockchain integration in assisted reproductive technology, strategic collaborations driving innovation in assisted reproductive technology and innovative fertility treatment options to enhance access to care.

Player-adopted strategies in the assisted reproductive technology market include focus on expanding business expertise through strategic acquisitions and strategic partnerships, strengthening business capabilities through new product platforms, enhancing business operations through new product developments and strengthening business capabilities through new product launches.

To take advantage of the opportunities, the analyst recommends the assisted reproductive technology companies to focus on tailored organoid solutions for biotherapeutic research, focus on advanced technological solutions for enhanced fertility, focus on integrating ai for enhanced IVF treatment, focus on innovative fertility treatment options, focus on IVF (in vitro-fertilization) and AI-IUI (artificial insemination) segments, focus on fresh non-donor and embryo or egg banking segments, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations for enhanced IVF processes, provide competitively priced offerings, continue to use B2B promotions, focus on innovative patient-centric initiatives and focus on fertility clinics segment.