Global fertility is declining
According to the United Nations (UN), the global fertility rate is expected to decline to 2.4 births per woman by 2030 and 2.2 births per woman by 2050. Currently, 46% of the global population lives in countries with low levels of fertility.
Another 46% population lives in countries with intermediate fertility and the remaining 8% population lives in countries with high fertility.
Rising demand for Assisted Reproductive Technology
Demand for Assisted Reproductive Technology (ARTs) is growing due to growth in infertility rate across the globe.
The patients are offered several options for the infertility treatment depending on the causes.
Technological advancements in developing regions offer promising growth for fertility clinics, hospitals, and device manufacturers to expand the market presence.
Healthcare facilities specializing in ART treatments are required to obtain a license from the respective authorities present in the country.
Government run reimbursement schemes
Availability of various reimbursement schemes in developed regions is likely to drive growth of the market in the forthcoming years. For instance, the government offers around 75% co-funding for various assisted reproductive treatments.
The government had announced a fertility program worth to cover the treatment of 5,000 people in 2016.
Key players operating in the infertility treatment devices
Key players operating in the infertility treatment devices and equipment market are adopting strategies such as acquisitions and partnerships to strengthen their presence in other regional markets.
For instance, Vitrolife entered into an agreement to acquire OCTAX Microscience GmbH in 2016.
The company strengthened its position in the IVF market by the expansion of its product portfolio through this acquisition.
This study has been done by international market research firm Research and Market.The report is titled as “Infertility Treatment Devices & Equipment Market Size, Share & Trends Analysis Report By Type (Ovum Aspiration Pumps, Sperm Separation Devices), By End Use, By Region, And Segment Forecasts, 2019 – 2026” . This report has been added to ResearchAndMarkets.com’s offering.
Further key findings from this study suggest: