The latest report by Future Market Insights reveals an unprecedented growth trajectory for the global in vitro fertilization banking services market. Projections indicate a surge to nearly US$ 4,310.9 million by 2023, with a robust Compound Annual Growth Rate (CAGR) of 10.5% expected to propel the market to a staggering US$ 11,652.7 million by 2033.
The substantial growth forecast underscores the escalating demand for fertility preservation solutions. Notably, egg banking services emerge as a dominant force within this expanding market landscape. By 2023, egg banking is poised to command a substantial market share of 77.8%, highlighting its pivotal role in shaping the future of IVF.
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As fertility preservation gains prominence globally, the IVF banking services market stands poised to witness remarkable growth, driven by advancements in technology and a growing awareness of fertility options. This surge reflects the growing confidence among consumers in IVF solutions and underscores the critical role played by egg banking services in meeting evolving fertility needs.
The report by Future Market Insights provides comprehensive insights into market trends, key drivers, challenges, and opportunities, offering valuable strategic guidance to stakeholders navigating the dynamic landscape of IVF 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.
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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