The human reproductive technologies market has been forecast to increase at a compound annual growth rate (CAGR) of 4.1% over the next five years, increasing from a value of $16.1 billion in 2013, to hit a total of $19.6 billion by 2018.
Major factors driving the human reproductive technology market include the rising demand and willingness to adopt new scientific technologies by people allowing infertile couples to create biologically-related children.
Reproductive technology encompasses all current and anticipated uses of technology in human reproduction, including assisted reproductive technology and contraception.
Many factors influence the human reproductive arena. Countries differ in their approaches and acceptance of fertility, contraception and sexual dysfunction. Culture, religion and social environment all play a role.
Depending on the country and position of women in the society, it can make a significant difference on how reproduction is treated.
For example, the choice of contraception varies by country. In Japan, condoms and abortions are preferred to other methods. In India, sterilization is the preferred method of birth control, while in Africa, injectable birth control dominates.
In China, the use of the coil is preferred. This difference in preference by country is also seen in both the fertility and sexual dysfunction areas as well.
Currently, North America dominates the global human reproductive technologies market and is followed by Europe due to emerging of number of clinics specializing in aiding the reproductive procedures in these regions.
Assisted reproductive technology (ART) is the use of reproductive technology to treat infertility. This is today the only application of reproductive technology to increase reproduction that is used routinely. Examples include in vitro fertilization and its possible expansions.
In each of the three major areas of infertility, contraception and sexual dysfunction, there has been increasing interest and advancements.
New developments in the area of contraception have stepped up the quest for easier, safer, and more convenient methods of contraception.
A growing global population, improving access to healthcare, recognition of sexual dysfunction as a medical disorder, and growing demand for contraceptive and fertility products will drive steady growth in this market over the near term.
For more information on the human reproductive technologies market, see the latest research: Human Reproductive Technologies Market
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