Market Trends of Infertility Treatment Devices Industry
Fertility Clinics Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Fertility clinics are specialty clinics that help people with their reproductive issues. Factors such as increasing the success rate of infertility treatment procedures, product launches, and opening of new facilities are expected to increase market growth. Due to the high procedure success rate and ongoing improvement, the studied segment is anticipated to experience growth.
For instance, according to an article published by Outlook India in July 2021, between 2,00,000 - 2,50,000 IVF procedures are performed in India each year, and the fertility market may experience 20% compound annual growth over the past five years. In-vitro fertilization is therefore anticipated to experience significant expansion during the predicted period. Moreover, the declining fertility rate is also a major factor that will lead to the growth of the segment.
Similarly, product launches are expected to increase segment growth as advanced products available in fertility clinics are expected to increase the footfall in the facility. In May 2022, Cook Medical launched the next-generation MINC+ benchtop incubator in the United States and Canada. The latest version of MINC incorporates the DishTrace platform, which combines capabilities for a variety of dish-data management tools through the touchscreen interface and a PC software program. With DishTrace, users may monitor up to 50 MINC+ incubators, follow culture dishes as they are checked in and out of the incubator, access, and log information through the system's touchscreen, and generate and view graphical histories and reports of MINC+ activities.
Moreover, the launch of fertility clinics is another factor in the growth of the market. For instance, in September 2021, Sakra World Hospital began offering infertility treatments, creating personalized treatment regimens for each patient. Such factors would spur market expansion in the near future.
Thus, the abovementioned factors such as the increasing success rates of infertility treatment procedures, declining fertility rate, and increasing product and fertility clinic launches are expected to increase the segment growth.
North America is Expected to Hold a Significant Share of the Market Over the Forecast Period
The North American region is expected to hold a significant market share in the studied market due to the increasing infertility rate and the need for external support in the region. For instance, according to the data published by CDC in March 2022, it is estimated that in the United States, among heterosexual women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women in this group have difficulty getting pregnant or carrying a pregnancy to term. As a result, the market will continue to expand favorably.
The low fertility rate in Canada is also a major factor driving the growth of the market in the region. For instance, according to the data updated by Statistics Canada in September 2022, the fertility rate in Canada declined drastically during the last 5 years, and it stood at 1.43 children per woman in 2021 which is way below the standard of 2.1 children per woman.
Awareness programs in the region are another factor in market growth. For instance, in June 2022, Organon Canada, a subsidiary of Organon, a global women's healthcare company, highlighted the importance of access to reproductive healthcare through listening to and empowering aspiring parents during World Infertility Awareness Month. The company aims to acknowledge and bring light to the barriers to fertility and help break down barriers to fertility.
Similarly, in April 2022, Inception Fertility initiated "The Faces of Fertility," a campaign to highlight the multidisciplinary team of specialists within Inception's clinical network who use education, science and technology, lab skills, and a compassionate approach to providing exceptional care throughout each patient's journey, in honor of National Infertility Awareness Week.
Thus, the abovementioned factors such as low fertility rate and increasing awareness programs about infertility are expected to increase the market growth.
