In Vitro Fertilization Banking Services Market is segmented By Services Type (Egg Banking and Sperm Banking), By End-User (Hospitals, Surgical Centers, Fertility Clinics, and Clinical Research Institutes) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
In Vitro Fertilization Banking Services Market size was estimated at $6.21 billion in 2020 and is expected to reach $10.55 billion by 2028, growing at a CAGR of 7.86% during the forecast period of 2021 to 2028.
In vitro fertilization is a type of assisted reproductive technology (ART) that entails the removal of eggs from ovaries, and they are in vitro fertilization with sperm. The procedure entails activating the ovulatory system, extracting an ovum from her ovaries, and fertilizing it in a laboratory liquid with sperm. IVF is one of the most extensively utilized therapies for couples experiencing infertility challenges, which is a significant driver driving the worldwide IVF services market.
Since in vitro fertilization is a costly and time-consuming process, the financial crisis triggered by the COVID-19 pandemic has had a significant impact on the in vitro fertilization banking services market, owing to factors such as economic uncertainty, a shift in emphasis toward emergency medical care solutions, and others. As the health sectors focus has turned to emergency treatments, demand for IVF treatment has declined significantly, limiting the expansion of the in vitro fertilization banking services industry. Due to the high cost and length of the procedure, in vitro fertilization has not yet become widespread. Additionally, risks associated with the IVF method, such as ovarian hyperstimulation disorder, egg retrieval technique complications, and others, act as a limitation on the artificial insemination fertilization markets growth. While the industry has been impacted by the pandemic, it is expected to recover by the end of 2021, providing abundant opportunities for major industry participants.
In Vitro Fertilization Banking Services Market Growth and Trend
The healthcare industry is growing rapidly and increasingly incorporating cutting-edge technology and equipment into its offerings. This, in turn, is assisting in the growth of the market for in vitro fertilization banking services. Additionally, it is likely to benefit from favorable government policies in a variety of countries. Increased investment in secure and safe egg/sperm storage facilities, along with an increased emphasis on cost-effective services, is boosting the market growth.
Due to the growing number of cancer cases worldwide, the rate of infertility among men and women has also increased, resulting in a spike in popularity for artificial insemination fertilization. According to studies, cancer therapy has a long-lasting effect on customers, including infertility. For instance, chemotherapy (more precisely, alkylating agents) can harm both sperm-forming cells in adolescent boys and sperm cells in males. Hormonal or endocrine therapy can also reduce male sperm production.
Treatments involving stem cell transplantation for cancer cells, like outer blood stem cell transplantation, bone marrow transplantation, and others, can cause harm to sperms, eggs, sperm-forming cells, and egg-forming cells. As a result of these issues, an increasing number of cancer patients who are unable to conceive are undergoing egg storage and sperm storage operations, resulting in the rise of IVF banking markets.
Several environmental factors contribute to infertility. The list includes air pollution, insufficient access to safe drinking water in the home, disease vectors, and chemical risks. Additionally, stress has been identified as a frequent cause of anovulation. Now, the modern lifestyle is characterized by stress, poor hygiene, and unsanitary conditions, all of which contribute to infertility. Additionally, as industrialization progresses, a sizable portion of the global population is exposed to dangerous chemicals, while the remainder of the population either lives near factories or is passively influenced by the surroundings. This increases an individuals vulnerability to infertility.
Given that the millennial generations lifestyle poses a threat to reproductive health and those environmental factors have a significant influence on the same, in vitro fertilization might see an increase in demand in the future years.
In Vitro Fertilization Banking Services Market Segmentation
The in vitro fertilization banking services market is segmented by services type and end-user. Based on services type, the market consists of egg banking and sperm banking. Based on end-user, the market is divided into hospitals, surgical centers, fertility clinics, and clinical research institutes
In Vitro Fertilization Banking Services Market Country Analysis
Europe is the global leader and is expected to maintain its position during the projection period. Due to the rising prevalence of infertility in the European region, demand for different in vitro fertilization banking services such as egg banking, sperm storage, andrology services, among others, is increasing dramatically. Eastern Asia is the second-largest market for in vitro fertilization finance solutions and is expected to continue growing gradually during the projection period. The rising infertility incidence in East Asia, along with robust health care infrastructure, is militarizing the market for artificial insemination fertilization finance solutions. The North American market is also expected to grow at a steady pace.
In Vitro Fertilization Banking Services Market Share and Competition
The major players operating in the global in vitro fertilization banking services market are The World Egg Bank, Fairfax Cryo Bank, MyEggBank, Cryos International, Seattle Sperm Bank, European Sperm Bank, Boston IVF´s network, and CCRM Fertility.
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Industry Segmentation and Revenue Breakdown
Services Type Analysis (Revenue, USD Million, 2021 - 2028)
• Egg Banking
o Fresh Donor Egg Cycle
o Frozen Donor Egg Cycle
• Sperm Banking
o Sperm Storage
o Andrology Services
End-User Analysis (Revenue, USD Million, 2021 - 2028)
• Surgical Centers
• Fertility Clinics
• Clinical Research Institutes
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
In Vitro Fertilization Banking Services Market Companies
• The World Egg Bank
• Fairfax Cryo Bank
• Cryos International
• Seattle Sperm Bank
• European Sperm Bank
• Boston IVF´s network
• CCRM Fertility.
• United States In Vitro Fertilization Banking Services Industry Research Report
• Europe In Vitro Fertilization Banking Services Industry Research Report
• Asia Pacific In Vitro Fertilization Banking Services Industry Research Report
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