The global in vitro fertilization (IVF) banking services market is poised for remarkable growth, according to the latest report from Future Market Insights (FMI). The market is expected to reach nearly USD 4,310.9 million by 2023, growing at an impressive Compound Annual Growth Rate (CAGR) of 10.5%. By 2033, this thriving sector is projected to exceed USD 11,652.7 million, reflecting a surge in demand for fertility preservation services across the globe.
Key findings from the FMI report highlight the increasing prominence of egg banking services, which are expected to capture a substantial market share of 77.8% by the end of 2023. This dominant segment underscores the growing focus on egg preservation as a vital component of fertility preservation, shaping the future of IVF banking services worldwide.
The rapid adoption of fertility preservation techniques is a direct result of greater awareness and acceptance of IVF solutions. A surge in fertility challenges, along with a greater emphasis on family planning, has fueled demand for IVF banking services. Additionally, advancements in technology, particularly in cryopreservation techniques, have enhanced consumer confidence in IVF, propelling growth in this sector.
“The global IVF banking services market is undergoing a transformative shift, driven by technological advancements and an increasing awareness of fertility preservation options,” said a representative from FMI. “Egg banking services are set to play a pivotal role in meeting evolving fertility needs, providing exciting opportunities for market players to innovate and expand their offerings.”
The FMI report offers comprehensive insights into emerging market trends, key drivers, challenges, and opportunities. This strategic guidance equips stakeholders with valuable information to navigate the evolving IVF banking services landscape and capitalize on the growing demand for fertility preservation solutions.
As the IVF banking services market continues to grow, stakeholders are encouraged to leverage these insights to expand their offerings and stay ahead of the curve in this dynamic sector.
Key Takeaways from the In Vitro Fertilization Banking Services Industry Study Report:
- The United States dominates the North American region with a total market share of over 86.6% in 2022. The United States market is projected to continue experiencing a growth rate of 8.1% throughout the forecast period.
- Meanwhile, the revenue contribution by Canada is poised to reach USD 277.8 million in North America’s in vitro fertilization banking services market by 2033.
- Germany is set to exhibit a CAGR of 7.4% in the European in vitro fertilization banking services market during the forecast period. Europe accounted for 53.5% of the total market share in 2022.
- China is projected to increase at a CAGR rate of 12.7% during the forecast period owing to a significant rise in medical tourism,
- Based on services, the egg banking segment is the leading market share holder of the market. Moreover, over the forecast years, this segment is projected to register a CAGR of 8.9%.
Heightened Demand for Market Data: Our Full Report Provides Extensive Trend Analysis!
Competitive Landscape for the In Vitro Fertilization Banking Services Industry Players:
- Cryopoint
- MyEggBank
- Fairfax Cryo Bank
- The World Egg Bank
- Cryos International
- European Sperm Bank
- Seattle Sperm Bank
- CCRM´s network
- Boston IVF´s network
Recent Developments by the In Vitro Fertilization Banking Services Industry Providers
- Generate Life Sciences Company based in California expanded its business into Canada by creating a new sperm bank there in Feb 2021.
- Boston IVF, Inc. established a new fertility center in Massachusetts in August 2020 to increase its customer base.
Key Market Segments Covered in In Vitro Fertilization Banking Services Industry Research:
By Service type:
- Egg Banking
- Fresh Donor Egg Cycle
- Frozen Donor Egg Cycle
- Sperm Banking
- Sperm Storage Services
- Andrology Services
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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