Investments towards promotion of fertility treatment services aimed towards international clients is likely to remain key to growth strategies in terms of sales in a fairly competitive industry.
Investments towards promotion of fertility treatment services aimed towards international clients is likely to remain key to growth strategies in terms of sales in a fairly competitive industry.
Fact.MR, Rockville MD: An ongoing report on the fertility tourism market released by market research firm Fact.MR has projected very positive prospects for growth through 2021 and beyond. The covid-19 pandemic has significantly disrupted the fertility tourism industry with strict travel restrictions being imposed by governments around the world in addition to postponed procedures for elective medical requirements. The market is likely to witness a gradual recovery through 2021, as governments are relaxing lockdown restrictions in a bid to restart economic activity.
According to a report by the World Health Organization, 10% of women around the world are inflicted by fertility issues. Also, estimates suggest that between 48 million couples and 186 million individuals are affected with infertility around the world. Fertility care operations cover prevention, diagnosis and treatments. Equal access to such treatments, in addition to restrictive laws on fertility treatments is a problem in numerous low- and middle-income countries generating opportunities for fertility tourism.
Assisted reproductive technologies were introduced more than three decades ago. As per the WHO, more than 5 million children were born through these processes. Efforts by public and private organizations towards increasing fertility awareness, while promoting healthy lifestyles, in addition to behavioral intervention to minimize risks from environmental toxins and pregnancy complications are likely to open up new avenues for growth in the industry.
“Growing incidences of fertility disorders including hormonal imbalance and ejaculative disorders, are being considered as driving factors of the fertility tourism market. Also, concerns associated with cancer treatments and associated effects on fertility are also creating opportunities in the fertility tourism sector. Government efforts to boost medical tourism and health awareness and improvements to accuracy for the diagnosis of fertility disorders supports long term growth,” comments a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Fertility Tourism Market
- In vitro fertilization treatments will witness higher uptake driven by superior efficacy and relatively affordable costs.
- Fertility centers will remain major channels of distribution driven by investments towards global expansion by private players.
- Greece is likely to emerge as a popular fertility tourism destination owing to cheaper treatment options and favorable environment for foreign exchange.
- Regulatory restrictions on surrogacy in India to hurt growth opportunities within the country.
- China will remain a high potential market, supported by government initiatives towards childbirth reform.
- As per the National Registry of Activity of the Spanish Fertility Society Spain will account for 40% of European fertility tourism operations.
Fertility Tourism Market – Prominent Drivers
- Growing awareness about fertility disorders in developing countries is a key contributor to demand in the market.
- Investments by governments towards medical tourism creates opportunities in the industry.
- Relaxation of regulations regarding single mothers and transgender/same-sex parents will bolster fertility tourism.
Fertility Tourism Market – Key Restraints
- Unfavorable reimbursement scenarios and poor government investments towards fertility treatments hurt the scope for growth.
- Ethical concerns associated with surrogacy and shortage of adequately trained professionals in the industry hurt developments.
Discover more about the fertility tourism market with figures data tables and table of contents. You can also find detailed market segmentation at https://www.factmr.com/report/3312/fertility-tourism-market
Competitive Landscape
Major players in the fertility tourism market include but are not limited to Smart Choice Medical Travel, Renew Fertility Care, Medical Tourism Corporation, Global Egg Donors, Med Journeys, and Visit and Care.
Major players in the fertility tourism industry are seeking strategic mergers, acquisitions, and collaborations aimed towards improving access to consumers, in addition to strategic international promotional endeavors.
For instance, In March 2021, INVO Bioscience Inc. announced the signing of a 50-50 joint venture for a INVO-exclusive clinic in the United States in Alabama, expected to be operational by the end of 2021, providing Intravaginal Culture System INVOcell services for clients around the globe.
In July 2020, Oasis Fertility launched its contact-less patient engagement initiative in line with restrictions arising from the Covid-19 pandemic, aimed towards expansion of the fertility tourism field through digital mediums.
More Insights on the Fertility tourism Market
In its latest report, Fact.MR offers unbiased analysis of the global fertility tourism market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of procedure (assisted reproductive technology, in vitro fertilization, intracytoplasmic morphologically-selected sperm injection, gamete donation, intracytoplasmic sperm injection, surrogacy, artificial insemination, intrauterine insemination, intracervical insemination, intratubal insemination, fertility surgery, laparoscopy, and others) patient type (female and male), and end user (fertility centers, hospitals & surgical clinics, cryobanks, and research institutes) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa).
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