According to a new report published by Allied Market Research, titled, “Australia & New Zealand Fertility Services Market, by Procedure, Service, and End User: Opportunity Analysis and Industry Forecast, 2019-2026,” the Australia & New Zealand fertility services market was valued at $709 million in 2018, and is expected to reach $1,020 million by 2026, growing at a CAGR of 4.6% from 2019 to 2026.
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Fertility services are availed by people who are unable to conceive naturally. These services assist infertile couples, single parents, and people from the LGBT community to procreate. IVF and other assisted reproductive technology (ART) procedures, surrogacy, and intrauterine insemination are some of the widely performed fertility services in Australia & New Zealand.
The Australia & New Zealand fertility services market is driven by increase in infertility rates, rise in trend of delayed pregnancies, surge in ART success rate, and growth in disposable income. Rise in prevalence of infertility due to increase in risk factors, such as obesity, stress, polycystic ovarian syndrome (PCOS), sexually transmitted infections, and other medical conditions, is expected to offer lucrative opportunities for the market growth during the forecast period.
Based on procedure, the IVF with ICSI segment accounted for more than one-third share in the Australia & New Zealand fertility services market in 2018. This segment is expected to exhibit a prominent growth rate, owing to some key factors such as higher success rates associated with ICSI-IVF in case of poor sperm morphology, poor sperm motility, low sperm count, and others.
In terms of services, the fresh non-donor segment accounted for the largest revenue in the Australia & New Zealand fertility services market in 2018 owing to higher preference for this procedure. While, the egg and embryo banking segment is anticipated to exhibit the fastest market growth during the forecast period due to technological advancements in IVF and rise in demand for thaw cycle IVF.
Based on end user, fertility clinics generated more than half the revenue in the Australia & New Zealand fertility services market in 2018. The market growth of this segment is mainly driven by wide availability of these fertility clinics with a skilled workforce.
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Key Findings of the Australia & New Zealand Fertility Services Market
- On the basis of procedure, the IVF with ICSI segment accounted for more than one-fourth share in the Australia & New Zealand fertility services market in 2018.
- Based on service, the egg and embryo banking segment exhibits fastest growth and is expected to grow at a CAGR of 5.9% from 2019 to 2026.
- Based on end user, the fertility clinics segment generated the largest market share in 2018 and is expected to remain dominant throughout the forecast period.
- Based on country, New Zealand is expected to experience growth at the highest rate, registering a CAGR of 7.1% during the forecast period.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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