About the Report
The in vitro fertilization banking services market, despite undergoing a temporary period of lull due to COVID-19 outbreak, is likely to have an impressive growth trajectory between 2020 and 2030.
Besides lucrative prospects in Europe, the market will continue witnessing high demand in East Asia. Expansion of healthcare sectors in high potential markets will remain a chief growth driver. Future Market Insight’s (FMI’s) study on the in vitro fertilization banking services market uncovers hidden opportunities besides presenting a refined forecast for the assessment period.
The in vitro fertilization (IVF) banking services market is experiencing significant surge in demand with the growing rate of infertility around the world. According to the Centers for Disease Control and Prevention (CDC), about 10% of women in the United States between ages 15 to 44 years have infertility while the rate of male infertility is 4.5-6% in North America.
As a result of changing lifestyle, stress, food habit, work pressure, and others, the demand for IVF, Intracytoplasmic Sperm Injectiom (ICSI), and others has increased substantially. This in turn is boosting the growth of in vitro fertilization banking services market.
Furthermore, the rising cases of cancer has increased the adoption of IVF treatments by cancer patients, which is fuelling the growth of the IVF bank service market.
According to Future Market Insights (FMI), the global in vitro fertilization banking services market is expected to rise at over 11% CAGR during the forecast period from the year 2020 to 2030.
Increasing Infertility Rate Propelling Growth
According to the National Health Statistics report, about 9% of men and about 11% of women of reproductive age in the United States have experienced fertility problems. Not only in the U.S, but the infertility rate has been increasing substantially all over the world due to several factors such as lifestyle, stress, and others. In many cases the causes for infertility is often unidentifiable.
With the advancement in healthcare and life science applications, the adoption of in vitro fertilization by couples facing fertility issues is rising, which in turn is enabling growth in embryo banking market, andrology services market, among others.
As more people are becoming aware about in vitro fertilization process, the inclination towards it has been rising, fuelling demand for embryo cryopreservation. Also, the growing success rate of in vitro fertilization has been enabling more people willing to expand their family to go for it.
A woman of age under 35 has a 39.6% chance of getting success in IVF process, while the success rate for the women of age over 40 is nearly 12%. As the IVF techniques are getting refined and doctors are becoming more experienced, the success rate is gradually increasing in every age group.
According to FMI, as IVF is anticipated to gain rapid traction and the growth of in vitro fertilization banking services is anticipated to accelerate further in the near future.
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Rising Cases of Cancer
Due to the rising cases of cancer around the world, the infertility rate among men and women has increased further resulting in surge in demand for in vitro fertilization. Researches have shown that the treatment for cancer leaves long lasting effects on the patients and infertility is one of those. For instance, chemotherapy (especially alkylating drugs) can damage sperm-forming cells in young boys and sperm cells in men. Hormone therapy or endocrine therapy can also decrease the production of sperm in men.
Stem cells transplant treatments for cancer such as peripheral blood stem cell transplants, bone marrow transplants, and others can damage sperms, eggs, sperm-forming cells, and egg-forming cells. Due to these reasons, more cancer patients with infertility are adopting the egg storage and sperm storage procedures resulting in growth of sperm storage market and egg storage market.
According to National Cancer Institute, the cases of cancer is over 440 per 100,000 men and women annually. With the increase in rate of cancer the demand for IVF is surging steadily resulting in steady growth of the in vitro fertilization banking services market.
Being costly and time consuming, in vitro fertilization process is yet to become widespread. Furthermore, risks associated with IVF process such as ovarian hyperstimulation syndrome, egg-retrieval procedure complications, and others work as the restraints to the growth of in vitro fertilization market.
The outbreak of COVID-19 pandemic has affected the in vitro fertilization banking services market due to the factors such as economic crisis, shifting of focus towards emergency healthcare services, and others.
Despite having several challenges, the global market is likely to grow exponentially throughout the forecast period.
Europe In Vitro Fertilization Banking Services Market
Europe is leading in the global market and is anticipated to sustain its position throughout the forecast period. According to the European Policy Audit on Fertility, nearly 25 million people face difficulties in conceiving in the region.
With the growing rate of infertility across the European region, the demand for various in vitro fertilization banking services such as egg banking, sperm storage, andrology services, and others is sky-rocketing.
According to FMI, Spain is expected to emerge dominant in the coming years. Countries such as Germany, France, Italy, and others are anticipated to offer lucrative growth opportunities throughout the forecast period.
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East Asia In Vitro Fertilization Banking Services Market
East Asia is second leading market for vitro fertilization banking services and is setto grow steadily through the forecast period. The increase in infertility rate coupled with the well-developed healthcare facilities is catalyzing the growth of East Asia in vitro fertilization banking services market.
South Korea having the lowest fertility rate in the world is catering to the growth of East Asia in vitro fertilization banking services market. With the fertility rate reached ultra-low levels in the countries such as Japan, China, and others, there has been a flurry of developments aiding to the growth of East Asia in vitro fertilization market.
China is expected to lead in East Asia in vitro fertilization banking services market throughout the forecast period.
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South Asia In Vitro Fertilization Banking Services Market
Being the third leading market for in vitro fertilization banking services, South Asia is expected to remain lucrative in the near future. The growing inclination towards IVF procedures among the infertile population is aiding to the growth of South Asia in vitro fertilization banking services market.
With the advancement in several IVF services such as frozen donor egg cycle, andrology services in the countries such as India, Indonesia, Thailand, and others, the demand for in vitro fertilization banking services is getting sky high in South Asia.
According to FMI, egg banking is expected to remain dominant in the coming years. India will maintain the lead in the coming years followed by Indonesia, Thailand, and others.
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Egg Banking Spurring Growth
Egg banking service type being highly demanded and is presently leading in the global market. Egg banking is the process of freezing one or more unfertilized eggs in order to save them for future. In order to make embryos, the eggs are thawed and fertilized in laboratory.
This type of fertility preservation has advantages such as short and safe medical procedure, option of choosing donor, flexibility and control over the process (how many cycles to try, whether to use a surrogate, and others), facility to preserve additional embryos, and others. As a result, this service type is highly preferred by the population with infertility.
With the surge in demand for fresh donor egg cycle and frozen donor egg cycle, the egg banking service is gaining traction rapidly.
Key market players are focusing on providing more advanced and safe services to the people requiring IVF in order to gain competitive advantage.
For instance, Fairfax Cryo Bank has launched their advanced ranges of sperm, embryo and oocyte freezing, banking, and storing services in the recent year. They are providing cryopreservation and storage services which are fully compliant with all FDA regulations governing reproductive tissue banks in order to assure the safe keeping of stored specimens.
Boston IVF’s network has opened their new fertility center in Chestnut Hill, MA in order to expand their services further to target broader range of population with the requirement of IVF in August, 2020.
According to FMI, as the in vitro fertilization banking services market is growing fast, the key market players are expected to face tougher competition during the forecast period.
Some of the key market players are-
- The World Egg Bank
- Fairfax Cryo Bank
- Cryos International
- European Sperm Bank
- Seattle Sperm Bank
- CCRM´s network
- Boston IVF´s network
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
In Vitro Fertilization Banking Services Market Report: Scope
Historical Data Available for
USD Million for value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa
Key Segments Covered
Service Type, and Region
Key Companies Profiled
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered by the Report
- At what CAGR is the in vitro fertilization banking services market expected to grow?
According to Future Market Insights (FMI), the in vitro fertilization banking services market is anticipated to grow at over 11% CAGR during the forecast period from year 2020 to 2030.
- Which are the top companies in in vitro fertilization banking services market?
Some of the top companies in global in vitro fertilization banking services market are The World Egg Bank, MyEggBank, Fairfax Cryo Bank, and others.
- How are companies planning to gain competitive edge in in vitro fertilization banking services market?
With competition getting fiercer, key market players are focusing on providing superior patient experience by improving process cycle through cutting edge technologies.
- Which category of in vitro fertilization banking services is highly sought-after?
Egg banking is the most lucrative segment by service type of the in vitro fertilization banking services market and anticipated to maintain the lead throughout the forecast period.
- Which is the largest market for in vitro fertilization banking services?
Europe is the largest market for in vitro fertilization banking services followed by East Asia and South Asia.
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- Is this research conducted by Future Market Insights?
Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst.
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FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology.
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- What are the sources of secondary research?
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- Egg Banking
- Fresh Donor Egg Cycle
- Frozen Donor Egg Cycle
- Sperm Banking
- Andrology Services
- Sperm Storage
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa