HUMAN REPRODUCTIVE TECHNOLOGIES MARKET ANALYSIS

Human Reproductive Technologies MarketSize and Trends

The global human reproductive technologies market is estimated to be valued at US$ 31 Billion in 2023 and is expected to exhibit a CAGR of 2.6% during the forecast period (2023-2030).

Over the course of the forecast period, rising rates of maternal mortality, rising population, and more attention to family planning are anticipated to drive the global market for human reproductive technology. Over the forecast period, it is anticipated that key players' emphasis on expansion strategies, including joint ventures and acquisitions, will benefit the global market for human reproductive technologies. For instance, on March 20, 2023, INVO Bioscience, a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell medical device and IntraVaginal Culture ("IVC") procedure it enables, announced it has signed binding agreements to acquire Wisconsin Fertility Institute, pre-eminent fertility center. The Madison-based fertility center primarily offers conventional (In-vitro Fertilization) IVF procedures and generated approximately US$ 5.5 million in revenue and net income of approximately US$ 1.9 million for the trailing 12-month period.

Figure 1. Global Human Reproductive Technologies Market Share (%), By Technology, 2023

Global Human Reproductive Technologies Market– Drivers

Increasing prevalence of maternal mortality

Increasing prevalence of maternal mortality is expected to boost growth of the global human reproductive technologies market over the forecast period. For instance, On February 22 2023, according to the World Health Organization (WHO), every day in 2020, almost 800 women died from preventable causes related to pregnancy and childbirth, and about 287,000 women died during and following pregnancy and childbirth in 2020. Almost 95% of all maternal deaths occurred in low and lower middle-income countries, such as Sub-Saharan Africa and Southern Asia in 2020.

Increase prevalence of infertility

Increasing prevalence of Infertility is expected to drive the global human reproductive technologies market over the forecast period. For instance, on April 04, 2023, according to WHO, around 17.5% of the adult population– roughly 1 in 6 worldwide, experience infertility, showing the urgent need to increase access to affordable, and high-quality fertility care and lifetime prevalence was 17.8% in high-income countries, such as U.S. and 16.5% in low- and middle-income countries, such as Southern Asia.

Figure 2. Global Human Reproductive Technologies Market Share (%), By Region, 2023