Sperm Bank Market To Hit Value .6 Billion By 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on October 27th, 2023 San Francisco, 27 October 2023: The ReportSperm Bank Market Size, Share & Trends Analysis Report By Donor Type (Known Donor, Anonymous Donor), By Service, By Fertilization Techniques, By Region, And Segment Forecasts, 2023 - 2030 The global sperm bank market size is expected to reach USD 6.6 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.56% over the forecast period. The market is majorly driven by increasing incidence of male and female infertility, rising acceptance of sperm banking services, and government initiatives in Assisted Reproductive Techniques (ART). Furthermore, increasing number of couples are planning to start family at later phase and hence are freezing their gametes. This is also contributing to the market expansion. In women, rate of infertility 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. In recent years, socioeconomic and demographic trends have increased the number of females seeking pregnancy during their late 30s and mid-40s. This also represents lucrative opportunities for the market growth. Rise in funding and supportive initiatives for ART has driven growth of the 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. This represents growing demand for sperm banking services in the country. The COVID-19 pandemic adversely impacted the market. There was a decrease in number of sperm donations owing to travel restrictions and social distancing norms. The number IVF and ART procedures also declined, resulting in decrease demand for donor sperm. In response to the pandemic many fertility centers and sperm banks suspended initiation of treatment cycles and elective gamete cryopreservation. Innovations in cryopreservation techniques, rising awareness, the emergence of fertility tourism, and increasing access to infertility treatment are the key factors driving the growth. An increase in the risk of miscarriages is also among a few key factors boosting the demand. Moreover, the market is witnessing lucrative growth opportunities owing to the growing acceptance of single-parent or same-sex families in many societies. Growing acceptance of the Lesbian, Gay, Bisexual, and Transgender (LGBT) community is one of the factors driving sperm donations across various countries. Request sample report of Sperm Bank Market @https://www.grandviewresearch.com/industry-analysis/sperm-bank-market/request/rs1 Sperm Bank Market Report Highlights
The demand for sperm bank services is expected to continue to increase due to increasing concerns about male infertility caused by abnormal and insufficient sperm volume and ejaculatory problems. According to the American Association of Pregnancy, male infertility alone accounts for up to 50% of all cases of infertility. Male infertility can also result from smoking, using illegal drugs, being exposed to hazardous substances, excessive alcohol consumption, and genetic issues. As a result, the prevalence of male and female infertility is rising globally, which is driving demand for infertility treatments including donor insemination and IVF procedures and this fueling the market growth. Sperm Bank Market Report Scope
List of Key Players in the Sperm bank Market
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