The United States In Vitro Fertilization Banking Services Industry is poised for substantial growth, with projections indicating a value of US$ 1,080.6 million by 2033, showcasing a Compound Annual Growth Rate (CAGR) of 8.1%. This notable surge is attributed to several key factors driving the demand for IVF services in the country.
One of the primary drivers of this market expansion is the escalating prevalence of infertility, highlighting the increasing need for advanced fertility treatments. Ongoing innovations in infertility treatment methods further contribute to the growth, as cutting-edge technologies continue to improve success rates and expand the scope of available solutions for couples facing fertility challenges.
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The United States has witnessed a significant rise in the number of fertility clinics, contributing to the overall growth of the IVF market. The proliferation of these clinics not only enhances accessibility to IVF services but also fosters a competitive landscape that encourages continuous advancements in treatment methodologies.
Adding to the momentum is the impact of the Human Egg Donation Law in the U.S., which allows women to receive financial compensation for donating eggs. This provision has spurred a higher demand for IVF services, creating a positive economic environment for the fertility industry.
The market dynamics are further fueled by the collaboration of medical professionals, researchers, and technology experts, working in tandem to push the boundaries of infertility treatment. As a result, the United States is witnessing a paradigm shift in how infertility is addressed, with IVF emerging as a pivotal solution.
In light of these developments, industry experts are optimistic about the sustained growth trajectory of the United States In Vitro Fertilization Banking Services Industry. Stakeholders, including investors, healthcare providers, and policymakers, are urged to closely monitor this sector as it continues to play a pivotal role in shaping the future of reproductive healthcare in the country.
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)
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