The global in vitro fertilization (IVF) banking services market is poised for a remarkable surge, according to a recent report by Future Market Insights. The market is projected to reach a value of nearly US$ 4,310.9 million in 2023 and is expected to witness a robust Compound Annual Growth Rate (CAGR) of 10.5%, reaching a staggering US$ 11,652.7 million by 2033.
This significant growth highlights the increasing demand for fertility preservation solutions. The report further emphasizes the dominance of egg banking services within this expanding market. Egg banking is expected to hold a substantial market share of 77.8% in 2023, signifying its crucial role in shaping the future of IVF.
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This trend underscores the rising need for comprehensive fertility solutions, empowering individuals and couples to make informed decisions about their family planning. With advancements in technology and growing awareness, IVF banking services are poised to play an increasingly vital role in the assisted reproductive technology landscape.
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.
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)
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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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