PORTLAND, Ore., Sept. 14, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “Assisted Reproductive Technology Market by Product (Instrument, Accessory & Disposable, and Reagent & Media), Technology (In Vitro-Fertilization, Artificial Insemination, and Others), and End User (Fertility Clinic, Hospital, Surgical Center, and Clinical Research Institute): Global Opportunity Analysis and Industry Forecast, 2021––2030“. According to the report, the global assisted reproductive technology industry generated $2.3 billion in 2020, and is anticipated to generate $12.2 billion by 2030, witnessing a CAGR of 19.3% from 2021 to 2030.
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Prime determinants of growth
Surge in prevalence of infertility rate, technological advancements in assisted reproductive technology, growth in disposable income, and rise in awareness regarding infertility treatment drive the growth of the global assisted reproductive technology market. However, high cost of ART procedures and risk associated with IVF treatment hinder the market growth. On the other hand, growing opportunities in emerging markets and rise in fertility tourism present new opportunities in the coming years.
- The outbreak of the Covid-19 pandemic led to impact positively on the global assisted reproductive technology industry, owing to multiple strategic steps made by…