The global assisted reproductive technology (ART) market was valued at USD 21.32 billion in 2018 and is expected to reach USD 45.06 billion by 2026, growing at a compound annual growth rate (CAGR) of 9.8% during the forecast period. Europe emerged as the leading region, accounting for 41.18% of the global market share in 2018.
Assisted reproductive technologies, often referred to as assisted reproductive treatments, encompass various advanced techniques designed to address infertility. These procedures span a wide range of solutions tailored to the specific causes of infertility, offering personalized approaches to improving reproductive outcomes.
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In August 2018, GI Partners acquired California Cryobank (CCB) and Cord Blood Registry (CBR) to establish a stronghold in the stem cell storage and reproductive tissue services markets. This acquisition highlights the growing importance of advanced reproductive technologies and storage services in addressing infertility challenges worldwide.
The growth of the global assisted reproductive technology (ART) market is primarily driven by the increasing prevalence of infertility worldwide. Lifestyle changes, delayed pregnancies, and rising awareness about fertility treatments have led to a surge in demand for ART services. Additionally, advancements in technology, such as in-vitro fertilization (IVF) and cryopreservation, are enhancing treatment success rates.
However, the market faces challenges such as high treatment costs and ethical concerns surrounding assisted reproductive procedures. Limited insurance coverage for fertility treatments also acts as a restraint in many regions, particularly in low- and middle-income countries.