The new report by Expert Market Research titled, ‘Global Surrogacy Market Trends, Share, Price, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global surrogacy market, assessing the market based on its segments like type, by technology and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 6.8%
Increasing cases of infertility globally owing to prevalence of causative factors including hormonal changes, alcohol consumption is boosting the surrogacy market. Surrogacy market growth is predicted to be driven by technological advances in assisted reproductive technologies, increased knowledge about infertility treatment, and the proliferation of fertility clinics.
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High costs and strong regulations in some countries limit market expansion. Infertility can be caused by a lack of sperm or eggs, age, genetics, or exposure to certain chemicals and poisons. Low sperm count can cause infertility in men owing to alcohol, steroid usage, cancer, and diabetes.
Women’s infertility can be caused by hormone imbalances, benign uterine growths, faulty cervix or uterine anatomy, blocked fallopian tubes and renal or sickle cell illness. Increasing fertility clinics and awareness of sperm/egg donation and in-vitro fertilization increase the adoption of reproductive treatments, boosting company growth.
Industry Definition and Major Segments
Surrogacy is a process of making babies through the use of artificial insemination and embryo transfer, which are regulated by law globally. Over the projected period, technological advances in assisted reproductive technologies, greater knowledge about infertility treatment, and an increase in the number of fertility clinics will fuel the expansion of the surrogacy sector.
However, high costs associated with the operation and rigorous rules pertaining to surrogacy in a number of nations will limit market growth in the future years. A gestational surrogacy involves a surrogate who is not genetically related to the child, but may undertake pregnancy by means of artificial insemination, in vitro fertilisation (IVF), or intracytoplasmic sperm injection (ICSI).
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By type, the market is divided into:
• Gestational Surrogacy
• Traditional Surrogacy
By technology, the market is bifurcated into:
• IVF with ICSI
• IVF without ICSI
• Intrauterine Insemination
By region, the industry is categorized into:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
The global surrogacy market has been growing steadily in recent years as more couples are unable to have children of their own. The trend of surrogacy is rising as more women are deciding to become surrogate mothers by choice or economically induced. Between 2010 and 2015, several medical tourism destinations have attracted men and women from all over the world in search of assisted reproductive treatments, which have been legalized in some countries like Ukraine, Georgia and Russia.
The surrogacy market is categorized based on technique into in-vitro fertilization (IVF), intrauterine insemination (IUI), and others. Due to the fact that it has revolutionized the treatment of male infertility, the IVF with ICSI sector holds the largest market share in terms of technology and is likely to continue growing over the next year. Using injectable procedures, fewer sperms are required to penetrate the egg.
In the future years, the segment’s expansion will be driven by an increase in the number of infertility cases, the widespread acceptance of in-vitro fertilization services, and the rising trend of women storing their eggs to have children at a later stage.
Key Market Players
The major players in the market are New Hope Fertility Clinic, Houston Fertility Center, Ovation Fertility, Extraordinary Conceptions, CARE Fertility, Growing Generations, LLC , among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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