The global in vitro fertilization banking services market is on the verge of significant expansion, with a projected valuation of nearly US$ 4,310.9 million in 2023, according to a recent report by Future Market Insights. The market is anticipated to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 10.5%, culminating in a staggering US$ 11,652.7 million by the year 2033.
Key findings from Future Market Insights highlight the dominance of egg banking services within this burgeoning market. Egg banking services are predicted to command a substantial market value share of 77.8% in 2023. This underscores the escalating demand for comprehensive fertility solutions and underscores the pivotal role played by egg banking services in shaping the landscape of in vitro fertilization.
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The remarkable growth trajectory is driven by a combination of factors, including advancements in reproductive technologies, rising awareness about fertility treatments, and an increasing acceptance of in vitro fertilization as a viable option for individuals and couples facing fertility challenges.
“As the global in vitro fertilization banking services market continues to witness significant expansion, our company is poised to play a pivotal role in shaping the future of fertility solutions,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “We are committed to delivering cutting-edge services that cater to the evolving needs of our clients, contributing to the growth and success of the industry.”
Future Market Insights remains at the forefront of these developments, with a commitment to providing innovative and personalized solutions to individuals and couples seeking fertility treatments. The company’s dedication to research, technology, and patient care positions it as a leader in the evolving landscape of in vitro fertilization banking services.
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 US$ 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%.
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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.
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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