The surrogacy tourism market is estimated to register a valuation of US$ 258.8 million in 2023 and is projected to reach US$ 468.9 million by 2033. The market is predicted to capture a CAGR of 6.1% from 2023 to 2033.
Which Factors Driving the Global Market?
Several factors are contributing to key growth in the global market. A few of these factors are:
- Legal Restrictions: Several countries are implementing various rules and regulations on Surrogacy tourism. A few countries prohibit surrogacy, which is difficult for intended parents. In certain countries, the government offers favorable conditions and rules for surrogacy arrangements. Therefore couples choose to visit these destinations for parenthood.
- Cost Considerations: The cost of surrogacy is different from country to country. For instance, the United States is expensive for surrogacy tourism, including medical expenses, compensations, and legal fees. Countries like Thailand and India are more affordable for surrogacy tourism due to low prices.
- Availability of Surrogate Mother: The availability of surrogate mothers plays a key role in driving the global market. In several countries, the availability of surrogate mothers attracts intended parents. Couples travel from one nation to another to find a surrogate for their parenthood.
- Privacy and Confidentiality:During Surrogacy tourism, the government offers privacy and confidentiality to couples to pursue surrogacy outside their home country. They disclose their identity and allow them to maintain their privacy.
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- Medical Expertise and Technology:The present medical staff with advanced technologies influences the global market revenue. The growing well-established clinics experienced doctors, and advanced equipped machines promote successful surrogacy cases.
- Cultural and Language Factors:Language and culture play a prominent role in upsurging the global market. A few couples choose to prefer their cultural background surrogates for parenthood. They prefer countries where they can find more aligned with their culture and roots.
These are a few of the factors that significantly drive the global market.
Key Takeaways:
- The surrogacy tourism market is estimated to secure a CAGR of 6.1% with a valuation of US$ 468.9 million during the forecast period.
- The United States dominates the global market by capturing a maximum share during the forecast period.
- Hospital sector will dominate the end-use industry in the global market by 2033
- Based on technology, IVF is estimated to fuel the global market during the forecast period.
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How do Key Players Significantly Drive the Global Market?
The market is highly competitive by the present key players globally. These players are trying to develop unique and improved products by investing in research and development activities. Key players are adopting various marketing tactics to advance the global market, including mergers, acquisitions, collaborations, and product launches.
Key players are taking feedback and suggestions for their products and services and filling the gap per their requirements. They promote their brands on several platforms to reach relevant customers, such as trade shows, exhibitions, and seminars to expand the global market.
Recent Developments in the Global Market are:
Lotus Medical International offers a wide range of surrogacy and fertility treatments. These services include medical procedures, matching intended parents with surrogate mothers.
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Surrogacy Tourism Market by Category
By Type:
- Gestational surrogacy
- Traditional surrogacy
By Tour Type:
- Domestic
- International
By Technology:
- IVF with ICSI
- IVF without ICSI
- Intrauterine Insemination
By Service Provider:
- Hospitals
- Fertility Clinics
By Age Group:
- 26-35 Years
- 36-45 Years
- 46-55 Years
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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