How much will the Sperm Bank industry be worth in the Future????Posted by Mrudula Karmarkar on December 27th, 2021 The global sperm bank market size is expected to reach USD 5.45 billion by 2025, at a CAGR of 3.3% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by increasing incidence of male andfemale infertility, rising acceptance of sperm banking services, and government initiatives in Assisted Reproductive Techniques (ART). Increasing cases of miscarriage is also one of the key growth contributors. The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor. According to the female age-related infertility study by the American Society for Reproductive Medicine (ASRM), fertility decreases with age. Risks of complications during pregnancy also increase with age, resulting in the use of donor sperms or eggs. Rising trend of smoking is also affecting fertility in males and females. Female smokers achieve menopause earlier as compared to nonsmokers and are also at higher risk of miscarriage. This also represents lucrative opportunities for the market growth. Rise in funding and supportive initiatives for ART has driven growth of the sperm bank market. For instance, the Australian government funds the ART services under the Medicare Benefit Scheme. It supports the access to In vitro Fertilization (IVF) or ART for the people unable to have children. Other countries with supportive initiatives include U.K., Singapore, and Canada. Growing acceptance of Lesbian, Gay, Bisexual, and Transgender (LGBT) community is also a key market driver. The Human Rights Campaign (HRC) reports that the LGBT community is growing in U.S., and a survey states that more than 10,000 LGBT identified youth are aged between 13 and 17 years. This represents growing demand for sperm banking services in the country. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/sperm-bank-market/request/rs1 Further key findings from the report suggest:
The global sperm bank market size was estimated at USD 4.33 billion in 2018 and is projected to expand at a CAGR of 3.3% over the forecast period. Innovations in cryopreservation techniques, rising awareness, emergence of fertility tourism, and increasing access to infertility treatment are the key factors driving the growth. Increase in risk of miscarriages is also among few key factors boosting the demand. For instance, according to an article published by Tommy’s, an organization funding research in the area of stillbirths, premature births, and miscarriage in U.K.; around 650 babies were miscarried per day in 2017. Rising prevalence of obesity across the globe is also one of the key drivers for the market. Obesity is one of the known risk factors for low sperm count in men and infertility among women. Men and women with fertility issues opt for artificial insemination techniques. Thus, rising risk of infertility due to obesity, is expected to boost the demand for fertility treatments, such as In vitro Fertilization (IVF), thereby driving the market growth. Rising concerns of male infertility due to abnormal and inadequate sperm volume and ejaculatory issues is projected to further drive the demand for sperm bank services. According to the American Association of Pregnancy, male infertility accounts for 30% of the infertility cases, which is around one-fifth of all infertility cases. Apart from genetic problems, male infertility is also caused due to illicit drugs, exposure to toxic substances, frequent alcohol consumption, and smoking. Thus, growing prevalence of male and female infertility worldwide is propelling the adoption of infertility services, such as donor insemination and IVF procedures, thereby boosting the market growth. Some of the key market players are Fairfax Cryobank, Inc.; Xytex Corporation; Andocryos; Cryo-Save AG; Indian Spermtech; New England Cryogenic Center; Seattle Sperm Bank; and London Sperm Bank. Key players are undertaking few initiatives to remain competitive in the market. For instance, in July 2014, Xytex Corporation launched xyConnects, an online platform that allows donors, parents, and offspring to register and communicate in a social media settings. Mergers and acquisitions is another key strategy adopted by the key players. For instance, in August 2018, GI Partners completed the merger and acquisition of California Cryobank (CCB). Grand View Research has segmented the global sperm bank market on the basis of donor type, services type, end use: Sperm Bank Donor Type Outlook (Revenue, USD Million, 2014 - 2025)
Sperm Bank Services Type Outlook (Revenue, USD Million, 2014 - 2025)
Sperm Bank End Use Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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