According to HTF MI, “Global In Vitro Fertilization Banking Services Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030”. The Global In Vitro Fertilization Banking Services Market is anticipated to grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2030, reaching USD 10.7 Billion in 2024 and USD 17.3 Billion by 2030.
The banking services market for in vitro fertilisation (IVF) is a quickly expanding area of the healthcare sector. The preservation and management of frozen embryos, eggs, and sperm for future fertility treatments is a part of in vitro fertilisation banking services. Growing rates of infertility, improvements in assisted reproductive technology, and rising public awareness and acceptance of in vitro fertilisation treatments are some of the drivers driving the industry. Delayed parenthood, changing lifestyles, and the increasing prevalence of fertility-related diseases all have an impact on the need for in vitro fertilisation banking services. Geographically, the In Vitro Fertilisation banking services market is dominated by North America and Europe because to greater infertility rates and favourable healthcare infrastructure. However, growing markets like Asia Pacific are experiencing considerable market expansion due to improved healthcare infrastructure, rising disposable incomes, and rising public knowledge of fertility treatments. Additionally, the market offers chances for breakthroughs in cryopreservation technology, the development of customised fertility services, and in vitro fertilisation technique innovation. Furthermore, significant initiatives for players to increase their market presence and meet the rising demand for in vitro fertilisation banking services include strategic agreements and collaborations with fertility clinics, research organisations, and healthcare providers.
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Key and developing players who have been highlighted as part of the coverage include Apollo Hospitals Enterprise Ltd (India), Manipal Fertility (India), Cloudnine Hospitals (India), Medicover Group (Sweden), IVI-RMA Global (Spain), Ferring Pharmaceuticals (Switzerland), Virtus Health (Australia, with operations in Europe), The Fertility Partnership (United Kingdom), Jinxin Fertility Group Limited (China), Shanghai Ji Ai Genetics & IVF Institute (China).
In Vitro Fertilization Banking Services
Market Drivers
- A prominent market driver for in vitro fertilisation banking services is the rising prevalence of infertility around the world. The rising demand for assisted reproductive technologies like in vitro fertilisation is influenced by factors like lifestyle changes, postponed pregnancies, and medical issues. Additionally, pre-implantation genetic testing (PGT), vitrification, and embryo selection are examples of technological developments in in vitro fertilisation techniques that have increased patient availability and improved success rates. The need for in vitro fertilisation banking services is fueled by these developments. The demand for in vitro fertilisation services is also influenced by sociological factors like evolving family arrangements, rising acceptance of assisted reproductive technologies, and a growing emphasis on parenthood in later life. People and couples are looking for ways to maintain their fertility and have kids later.
Market Trend
- In the market for in vitro fertilisation banking services, egg and sperm freezing, sometimes referred to as oocyte and sperm banking, is on the rise. In order to maintain their fertility for future family planning, medical needs, or lifestyle preferences, people choose to use these services. Demand for in vitro fertilisation banking services has increased as a result of surrogacy and third-party reproduction arrangements becoming more accepted and lawful. In vitro fertilisation banks are used by intended parents to get high-quality gametes and aid successful surrogacy procedures. Additionally, the globalisation of in vitro fertilisation services and medical tourism have emerged as important themes. People are moving to nations with cutting-edge IVF technology and more inexpensive medical options. In Vitro Fertilisation Banking Services are essential in making it easier to store and send gametes across international borders.
Market Opportunities
- In Vitro Fertilisation banking opportunities are made possible by growing public acceptance and understanding of reproductive treatments and alternative family-building options. Demand has increased as a result of shifting perspectives and diminished stigma surrounding assisted reproductive technology. In Vitro Fertilisation banking services are also made possible by the incorporation of genetic testing and personalised treatment into IVF operations. Patients looking for the best reproductive treatments are drawn to the genetic screening and embryo selection technologies because they enable customised therapies and increased success rates.
Market Challenges
- Some couples find it impossible to afford in vitro fertilisation operations and related banking services. Certain demographic groups may have limited access due to the high price of in vitro fertilisation treatment and storage services. In Vitro Fertilisation banking services are also governed by stringent laws and moral standards. For providers, adhering to these regulations may add complexity and raise operating expenses. Additionally, legislative differences between various nations and regions can make it difficult to expand the market. Banking services and in-vitro fertilisation treatments are frequently covered by insurance only partially or not at all. Potential patients may be deterred from using these services due to the absence of coverage, which could have an effect on market expansion.
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Key Market Segmentation:
The report has categorized the In Vitro Fertilization Banking Services market based on type, distribution channel, and region.
Market Breakdown by Applications:
- Egg Banking, Sperm Banking
Market Breakdown by Types:
- Cryobanks, Fertility Clinics, Hospitals, Research Organisations
Report Scope
The Market size value in 2024 (USD 10.7 Billion)
Revenue Forecast by 2033 (USD 17.3 Billion)
Growth Rate CAGR Of (10.5%)
Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)
Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)
Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are Apollo Hospitals Enterprise Ltd (India), Manipal Fertility (India), Cloudnine Hospitals (India), Medicover Group (Sweden), IVI-RMA Global (Spain), Ferring Pharmaceuticals (Switzerland), Virtus Health (Australia, with operations in Europe), The Fertility Partnership (United Kingdom), Jinxin Fertility Group Limited (China), Shanghai Ji Ai Genetics & IVF Institute (China)
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Key highlights of the report:
- In Vitro Fertilization Banking Services Market Performance (2019-2023)
- In Vitro Fertilization Banking Services Market Outlook (2024-2030)
- In Vitro Fertilization Banking Services Market Trends
- In Vitro Fertilization Banking Services Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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