Market Trends of Global Sperm Bank Industry
This section covers the major market trends shaping the Sperm Bank Market according to our research experts:
Semen Analysis Segment is Expected to Hold a Major Share Over the Forecast Period
The Semen Analysis segment is expected to witness significant growth over the forecast period owing to the factors such as increasing infertility in men due to various reasons such as changing lifestyles, underlying conditions, and others, increasing government initiatives as well as rising company activities.
The increasing company's focus on developing and launching testing kits for analyzing sperm quality is expected to increase the demand for semen analysis, thereby boosting the market growth. For instance, in October 2021, Inherent Biosciences launched Path Fertility's Epigenetic Sperm Quality Test, SpermQT, at the American Society for Reproductive Medicine Scientific Congress & Expo. SpermQT examines DNA methylation patterns on genes involved in sperm maturation, sperm production, and embryonic development. Additionally, in June 2021, Janani launched a first-of-its-kind at-home semen testing kit. The company has also developed a unique media that can store a sample without any damage to the sperms for up to 8 hours in non-laboratory conditions.
In addition, according to an article published by the Facts, Views, and Vision, Issues in Obstetrics, Gynecology and Reproductive Health in March 2021, titled "Simplified sperm testing devices: a possible tool to overcome lack of accessibility and inconsistency in male factor infertility diagnosis. An opportunity for low- and middle- income countries", it has been found that YO, SEEM, and ExSeed, a smartphone-based device, accurately measures volume, sperm concentration (millions/ml) and total motile sperm count. In addition, as per the same source, these technologies could efficiently choose patients for first-line artificial reproduction treatments such as intrauterine insemination due to their affordability, availability, accuracy, and ease of use. Thus, the rising utilization of such devices in examining and accessing sperm quality is likely to increase the demand for sperm analysis, thereby boosting the segment growth.
Furthermore, the rising government initiatives in introducing updated manual to ensure high-quality testing of human semen in the clinical and research setting is also contributing to the growth of the studied segment, thereby propelling the market growth. For instance, in August 2021, the World Health Organization launched the sixth laboratory manual for the examination and processing of human semen. The manual includes new and expanded sections on semen sample preparation, markers for infection, computer-aided sperm analysis, and detailed procedures for basic, extended and advanced examination of human semen.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
North America is Expected to Retain its Dominance in the Market
North America holds the largest market share in the sperm bank market and is expected to dominate the market over the forecast period.
The factors propelling the market growth are the rising number of male fertility due to increased levels of smoking, consumption of alcohol, use of certain illicit drugs, and underlying conditions such as obesity. For instance, according to an article published by StatPearls, in July 2022, titled "Male Infertility", it has been found that the estimated male infertility rate is between 4.5% to 6% in North America. Additionally, according to the World Health Organization, in 2021, 12% of the people in Canada smoke regularly. In addition, as per the same source, people aged 20 years or above have the highest rate of smoking (11%) as compared to people aged 15 years to 19 years (4%). The increasing level of smoking is linked to a high amount of ferroptosis in seminal plasma that impacts the quality of semen and reduces the chances of getting pregnant which are expected to propel the growth of the studied market over the forecast period.
Furthermore, as per the 2022 statistics published by the National Center for Drug Abuse Statistics, 10.2% of people aged 12 years and above have Alcohol Use Disorder, in 2020, in the United States. Also, the data published by the National Institute on Alcohol Abuse and Alcoholism, updated in March 2022, has found that 25.8% of the people aged 18 years and above were reported to have binge drinking habits in 2019.
Moreover, advancements in technology about cryopreservation and increasing company activities are also contributing to the growth of the market over the forecast period. For instance, in February 2021, Generate Life Sciences announced its expansion in Canada, with the introduction of California Cryobank. Also, in February 2020, Legacy, a male fertility startup, raised USD 3.5 million n funding from Bill Maris's San Diego-based venture firm, Section 32, along with Y Combinator and Bain Capital Ventures.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
