Research Nester published a report titledSperm Bank Market: Global Demand Analysis Opportunity Outlook 2029which delivers detailed overview of the global sperm bank marketin terms of market segmentation by donor type, services, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Theglobal sperm bank marketis anticipated to garner notable CAGR over the forecast period, i.e., 2021 2029. The market is segmented on the basis of services into sperm donation, semen analysis, genetic consultation, and others, out of which, the semen analysis segment is foreseen to hold the largest share over the forecast period on account of rising awareness about reproductive health, sperm quality and genetically transferred diseases.
The global sperm bank market is estimated to grow on the back of increasing demand for assisted reproductive technology (ART) backed by increasing cases of infertility along with increased disposable income. Moreover, social acceptance of same sex couples and single parents is estimated to boost the market growth as such people can now openly opt for artificial methods of childbirth.
Regionally, the global sperm bank market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. The market in the North America is anticipated to hold the largest share during the forecast period on the back of increasing number of successful IVF births, combined with the elevating recognition to single individuals opting for artificial parenthood.According to the data by the U.S Center for Disease Control and Prevention (CDC), ART was successfully used to give birth to 73,831 infants, in the year 2018, in the U.S.Moreover, acceptance for homosexual couples, and transgender individuals is estimated to boost the market growth. The market in the Europe is projected to garner a major share by the end of 2029, on the back of increasing cases of infertility among both men and women. Furthermore, increasing popularity of IVF along with elevated disposable income is estimated to further boost the market growth.
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Rising Cases of Infertility to Boost the Market Growth
As per the statistics by the World Health Organization, globally, around 186 million individuals are infertile.
Infertility or inability to reproduce, is a major growth driver for the global sperm bank market, as infertile couples opt for in-vitro fertilization (IVF) or artificial insemination with the help of sperm banks. Infertility is increasing due to the sedentary modern lifestyle, coupled with stress, unhealthy food habits and drug abuse, which is estimated to drive the market growth.
However, prevailing social stigma related to artificial reproductive methods is expected to restraint the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global sperm bank marketwhich includes company profiling of Fairfax Cryobank, Inc., New England Cryogenic Center, Inc., Androcryos- Andrology Lab Sperm Bank, Cryos International Sperm Bank, European Sperm Bank, Phoenix Sperm Bank, Xytex Corporation, The London Sperm Bank, California Cryobank, LLC, CryoGam Colorado, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sperm bank market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
The Final Report will cover the impact analysis of COVID-19 on this industry.
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