Global Assisted Reproduction Technology Devices Market: Snapshot
Assisted reproduction technology (ART) devices have been designed and developed to solve issues pertaining to fertility. Ever since the initial introduction of IVF (in-vitro fertilization) in 1978, technique to resolve pregnancy related issues have come a long way. The advent of assisted reproductive technology offer solutions such as in-vitro fertilization (IVF), gamete intrafallopian transfer (GIFT), intracytoplasmic sperm injection (ICSI), zygote intrafallopian transfer (ZIFT), intrauterine insemination (IUI), and surrogacy. The Centers for Disease Control and Prevention (CDC) states that 208,604 ART cycles were conducted at 458 clinics in the U.S., of which 57,323 were live births and 70,354 were live born infants in 2014. Though the usage of ART is not significant, its demand has still soared in the recent past.
The research report by Transparency Market Research provides a comprehensive outlook of the global assisted reproduction technology devices market. The publication is aimed at providing a detailed analysis of the segments in the market, the competitive landscape, financial outlook of the companies operating in the market, and the supply chain analysis.
Global Assisted Reproduction Technology Devices Market: Drivers and Trends
The global assisted reproduction technology devices market is expected to witness a significant boost in the coming years due to the growing support by governments for research and development. The rise in funding for developing efficient and safe assisted reproduction technology devices is expected to make a positive impact on the global market.
The high prevalence of male and female infertility due to poor lifestyle choices, deferred pregnancies, and health conditions have collectively boosted the demand for assisted reproduction technology devices. Infertility in males is observed due to poor sperm count, blocked sperm ducts, and poor sperm movement. On the other hand, female infertility is usually a result of dysfunctional fallopian tubes along with issues related to cervix or uterus.
The growth of medical tourism and the possibility of surrogacy in emerging economies has been crucial to the growth of this market in recent years. The high cost of using these technologies and devices in developed countries has dissuaded several patients and made them migrate to developing countries, where seeking medical treatment is relatively cheaper.
Global Assisted Reproduction Technology Devices Market: Regional Outlook
The global assisted reproduction technology devices market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Of these, North America is expected to lead the global market in the coming years. The high rate of awareness amongst people about assisted reproduction technology devices market is expected to drive the regional market. Furthermore, incredible governmental support to the overall market in North America for in-vitro fertilization and high infertility rates are projected to boost the market’s growth.
Europe also expected to steady growth in the overall assisted reproduction technology devices market in the coming years. The rising rate of medical tourism and acceptance of IVF are expected to propel the regional market in the coming years. Asia Pacific is also projected to emerge as a significant market for the assisted reproduction technology devices due to the emergence of medical tourism industry. The rising disposable incomes, late pregnancies, and rising women employment are expected to fuel the growth of this regional market in the near future.
Key Players Mentioned in this Report are:
Some of the key players operating in the global assisted reproduction technology devices market are Microm UK Limited, Irvine Scientific, Parallabs, Cryolab Ltd., European Sperm Bank Cosmos Biomedical Limited, and Origio.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.