About 10 to 15 percent of American couples struggle each year with infertility issues, says Mayo Clinic. The rate of infertility amongst women has increased tremendously in the past decade due to delays in conceiving the first child, smoking addiction, alcohol abuse, the utilization of contraceptive pills. This is why a number of new reproductive technologies have gained traction for the treatment of infertility in both women and men. These latest human reproductive technologies include procedures and therapies for controlling and conceiving pregnancy by semi-artificial and artificial means.
Transparency Market Research (TMR), a market intelligence company, answers some of the prime questions related to the market for human reproductive technologies. The answers will help established players as well as the new market entrants in making better business decisions related to the market.
Q. What are the latest procedural advancements seen in the market?
The major procedures utilized in reproduction technologies include frozen non-donor, frozen donor, fresh non-donor, and fresh donor. As per a study performed by the Centers for Diseases Control and Prevention (CDC), live birth rates via fresh and frozen cycles are almost similar. However, the frozen method is comparatively less expensive as compared to the fresh method.
Numerous reimbursement policies have enabled more individuals to store or donate their gametes. The Advanced Fertility Center of Chicago, unlike the other centers that offer refund and risk sharing plans for just three cycles, has designed an IVF refund plan. This plan allows 100 % refund for up to 4 cycles with fresh embryos. More organizations are expected to follow suit as consumers increasingly demand compensation in the event of the failure of treatment.
In addition, the market is receiving a boost from the corporate sector as well. In October 2014, top companies such as Facebook and Apple started the provision of sperm storing for their women employees in order to lower the rate of attrition.
Q. Which future opportunities, drivers, and restraints will impact the market dynamics?
The increasing morbidity rate of infertility within both females and males and the increasing awareness about the presence of innovative technologies for the treatment of reproduction-related problems are amongst the key factors driving the growth of the market. In addition, the increasing occurrence of unwanted pregnancies and the increasing lifestyle hazards such as stress, pollution, and smoking will also propel the growth of the market for human reproductive technologies. Furthermore, the increasing promotional activities carried on by NGOs and governments globally for the promotion of contraceptive products could also pose a positive impact on the development of the market.
The advent of a strong contraceptive pipeline and the increasing medical tourism globally are the two major growth opportunities seen in the market. On the other hand, a number of social and economic factors and the low insurance coverage for human reproductive technologies, particularly in underdeveloped nations, may have a negative impact on the growth of the market. Furthermore, a number of side effects related with the usage of contraceptive devices and drugs may also impede the growth of the market in forthcoming years.
Q. What are the major sustainability strategies being adopted by the chief players?
Players such as Microm UK Ltd., Cosmos Biomedical, Origio, Cryolab Ltd., European Sperm Bank, IrvineScientific, and Parallabs are amongst the prime players operating in the market. Strategic collaboration with domestic companies, constant technology innovations, and capitalizing on the supportive initiatives taken by governments are the major sustainability strategies adopted by the prime players and will further fuel the growth of the market.