The US fertility market is experiencing significant growth, projected to surge from $5.34 billion in 2023 to an estimated $8.69 billion by 2033. This substantial expansion, according to Precedence Research, is driven by a compelling combination of factors, including rising infertility rates and advancements in healthcare technologies.
While healthcare solutions have improved, infertility remains a pressing concern for many Americans. Changing lifestyles, delayed childbearing, and various medical factors contribute to increasing infertility rates. This trend is poised to fuel market growth during the forecast period. The National Institute of Child Health and Human Development indicates that approximately 9% of men and 11% of women of reproductive age in the US face fertility challenges.
Assisted reproductive technology, particularly in vitro fertilization (IVF), plays a pivotal role in boosting market growth. The efficiency of IVF treatments for infertility is further enhanced by ongoing research, development, and the emergence of new technologies.
Key Insights:
*
Assisted reproductive technology (ART)
dominated the US fertility market in 2023, encompassing methods such as IVF, surrogacy, and fertility drugs. This segment is expected to continue its dominance due to the increasing adoption of ART, offering solutions for couples struggling with infertility.*
Fertility clinics
are the leading end-user segment. These clinics provide comprehensive services, ranging from fertility testing and diagnosis to personalized treatment options and specialized facilities. The emotional support provided by clinics during the fertility journey is also a significant factor driving demand.Market Dynamics:
Drivers:
*
Rising Infertility Rates:
The primary driver behind the US fertility market growth is the increasing prevalence of infertility. Factors contributing to this include age-related diseases, lifestyle changes, hormonal imbalances, smoking and alcohol consumption, and sexually transmitted infections.*
Growing Awareness of Treatment Options:
Increased awareness of fertility treatment options and their effectiveness is also boosting demand. The World Health Organization (WHO) highlights polycystic ovary syndrome (PCOS) as the most common hormonal disorder affecting women of reproductive age, further emphasizing the need for fertility treatments.Restraints:
*
High Cost of Treatment:
One significant barrier to accessing fertility treatment is the high cost associated with ARTs. Costs vary depending on factors such as geographical location, clinic packages, success rates, and additional services, making treatment unaffordable for many.*
Limited Insurance Coverage:
The lack of adequate insurance coverage for fertility treatments further limits access and affordability for individuals seeking these services.Opportunities:
*
Emerging Technologies:
The emergence of new technologies is propelling the market forward. Advancements in IVF, fertility testing, and diagnostics are leading to improved patient outcomes. Some notable technologies include AI-based IVF, cryopreservation, time-lapse imaging, laser-assisted hatching (LAH), and intracytoplasmic sperm injection (ICSI). Preimplantation genetic testing, which minimizes the risk of miscarriage and increases the chances of successful pregnancy, is another promising development.Key Companies:
The report highlights leading players in the US fertility market, including:
* Boston IVF Fertility Clinic
* Celmatix
* INVO Bioscience
* San Diego Fertility Center
* FUJIFILM IRVINE SCIENTIFIC
* Carolinas Fertility Institute
* Progyny Inc.
* Cook Medical
Recent Developments:
*
July 2024:
Mira, a hormonal health company, launched an online clinic offering personalized support from fertility specialists.*
March 2024:
Alife Health partnered with Boston IVF to pilot the first AI tool for IVF medication optimization in the US.*
March 2023:
US Fertility and Ovation signed an agreement to create the leading fertility platform in the US.*
February 2024:
Lupin, a pharmaceutical company, launched Ganirelix Acetate Injection in the US for women undergoing fertility treatment.*
January 2024:
IVI RMA acquired North American Operations of Eugin Group, including the Boston IVF fertility network and Toronto-based TRIO, to expand access to fertility solutions.The US fertility market is poised for continued growth as advancements in technology and the increasing need for fertility solutions converge. As the market evolves, companies are actively developing innovative solutions and services to meet the growing demand for effective and accessible fertility treatments.
