India Fertility service Market Analysis

India Fertility service Market Executive Summary

India Fertility service Market is valued at around $341.9 Bn in 2022 and is projected to reach $771 Bn by 2030, exhibiting a CAGR of 10.7% during the forecast period 2023-2030.

The fertility Service Market refers to the market for procedures or treatment provided for infertility. Infertility is referred to as the inability to conceive or sustain a full-term pregnancy. In males it can be identified with low sperm count and in females there will be a lack of functioning of the pituitary and hypothalamus glands which stimulate hormones in the brain to release eggs in ovaries. For an increase in the chance of pregnancy, it requires medication and procedures in fertility treatment.

According to WHO global infertility rate was around 17.5% in 2022 and it is increasing with every passing year. Medical conditions like polycystic ovary syndrome, endometriosis, and thyroid problems are increasing the prevalence of infertility. There have been many developments in Fertility services in recent years. Advances in Fertility technology and procedures are also driving the market for Fertility services.

There are many Fertility services providers in the market including Fertility clinics and hospitals out of which Instituto Bernabéu Group, INVO Bioscience, Inc., Monash IVF Group, Apollo Hospitals Enterprise Ltd., CARE Fertility Group Ltd., Carolinas Fertility Institute, Genea Limited, The Cooper Companies, Inc., Virtus Health Group, Vitrolife Sweden AB, The Johns Hopkins Health System Corporation, Medicover AB (publ), OvaScience, Inc., Progyny, Inc., and Xytex Corporation are major players.

Funding for research and development is increasing in the fertility service market which has led to advancements in technologies and procedures like mitochondrial replacement therapy, advanced genetic testing, intracytoplasmic sperm injection (ICSI), and artificial intelligence. It has increased the growth of the fertility service market.

Increasing incidences of late pregnancy, medical tourism, and rising knowledge of fertility services are projected to fuel the market for fertility services in the coming years. The market still has many difficulties like the high cost of treatment, ethical and legal concerns, treatment risk and uncertainty, lack of skilled professionals, and limited reimbursement coverage.

Market Dynamics

Drivers of India Fertility Service Market:

Increasing Prevalence of Late Pregnancy: increased age of parenthood is one of the significant factors for the growth of the fertility service market globally. Increasing focus on career, concerns like expensive childcare services, and academic ambitions are significant factors for the increasing prevalence of late pregnancy. All these factors are driving the market for fertility services.

Advancement in Technology: As technology improves, it is possible to provide more efficient and effective services. There have been many technological advancements in fertility services like 3D printing, pregnancy preservation, intracytoplasmic sperm injection (ICSI), preimplantation genetic testing (PGT), and artificial intelligence have changed the market for fertility services. All these advancements are driving the Fertility service market.

Growing Awareness: People are becoming more aware and accepting fertility treatment. Societal stigma is decreasing in the population and attitude towards infertility is changing. Education campaigns, public discussions, and sharing of personal experiences have helped in increasing awareness and it has driven the growth of the fertility service market. 

Medical Tourism: Medical tourism is growing because of high treatment costs in some countries and the lack of advanced medical facilities in developing or underdeveloped countries. It has boosted the growth of the global fertility service market.

Developments in Fertility Service Market:

The market for Fertility Services is always changing due to new discoveries and improvements in science and technology. Recent market developments include the following:

Mitochondrial Replacement Therapy: It is a technique with three parents and helps prevent the transmission of genetic diseases from parents. It replaces faulty mitochondria to healthy mitochondria from the donor. It has the potential to increase the growth of the fertility market as it provides new options to parents with mitochondrial diseases.

Social freezing and Egg Banking: It has gained popularity recently. Women’s eggs are frizzed at a young age when they have optimum fertility, which can be used in the future when they decide to conceive a pregnancy.

Advancement in Genetic Testing: There have been new advancements in genetic testing including preimplantation genetic testing (PGT) and comprehensive chromosome screening (CCS). It helps in identifying genetic abnormalities before the implantation of the embryos. It has increased the success rate of assistive reproduction procedures and reduced the risk of genetic disorders.