Sperm Bank Market Size Projections Exhibit a CAGR of 4.45%, Likely to Attain a Value of USD 7.52 Billion by 2030
The global sperm bank market size is anticipated to grow from USD 5.08 billion to USD 7.52 billion in 10 years. The market will experience rapid growth due to the decreasing fertility rates globally during the forecast period. North America currently dominates the sperm bank market due to the increasing medical tourism & legal revisions related to IVF techniques.
Newark, Oct. 09, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 5.08 billion in 2021 global sperm bank market will reach USD 7.52 billion by 2030. the lifestyle changes and choices of the younger population are changing, and they are different from the pre-defined norms of society. The younger generation chooses to focus on their careers and wait till their early 30s before having kids or starting a family. Some individuals prefer to have children as a single parent. Furthermore, the growing acceptance and legalization of marriage and family rules for the LGBTQ+ community also give them the choice to have kids. Given the decision to have kids after their 30s, the risk of reduced infertility with age makes IVF, egg freezing and sperm freezing an ideal option for many. Similarly, sperm donation surrogacy or egg donation are critical for members of the LGBTQ+ community. Therefore, the changing societal landscape will offer market growth opportunities for the global sperm bank market.
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Key Insight of the Global Sperm Bank Market
Asia Pacific is expected to rise the fastest during the forecast period.
The declining birth rates in China and Japan cause concern for the government. The younger population of China, Japan, Korea and many other developed countries choose not to have kids. The fertility rates are declining. These have prompted the governments to introduce various measures to improve birth rates. The growing expenditure on ramping up sperm banks or fertility infrastructure will augment the market’s growth. Favourable regulations facilitating easy accessibility and affordability of fertility treatments will bode well for the market’s growth.
In 2021, the semen analysis segment dominated the market with the largest market share of 23.21% and market revenue of 1.17 billion.
The services type segment is divided into semen analysis, sperm storage, specimen storage, genetic consultation, donor screening, and others. In 2021, the semen analysis segment dominated the market with the largest market share of 23.21% and market revenue of 1.17 billion.
In 2021, the known donor analysis segment dominated the market with the largest market share of 39.14% and revenue of 1.98 billion.
The donor type segment is divided into anonymous donor, known donor, and ID disclosure donors. In 2021, the known donor analysis segment dominated the market with the largest market share of 39.14% and revenue of 1.98 billion.
In 2021, the in-vitro fertilization (IVF) segment dominated the market with the largest market share of 38.26% and market revenue of 1.94 billion.
The vials type segment is divided into intracervical insemination (ICI), intrauterine insemination (IUI), and in-vitro fertilization (IVF). In 2021, the in-vitro fertilization (IVF) segment dominated the market with the largest market share of 38.26% and market revenue of 1.94 billion.
In 2021, the in-vitro fertilization (IVF) centers segment dominated the market with the largest market share of 54.36% and market revenue of 2.76 billion.
The end-user segment is divided into in vitro fertilization centers and donor insemination centers. In 2021, the in-vitro fertilization (IVF) centers segment dominated the market with the largest market share of 54.36% and market revenue of 2.76 billion.
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Advancement in market
September 2023 – A Chinese sperm bank is hosting a unique competition for college students to determine which student has the highest-quality sperm in light of the nation’s declining birth rates. Students will also be given money in exchange for their donated semen. The Henan Provincial Human Sperm Bank is holding a competition to identify the male with the largest sperm count and the strongest sperm. The Straits Times reports that participants would receive up to 6,100 yuan ($170) each for their efforts and have 50 days to make up to 20 donations. Additionally, they will receive payment for any out-of-pocket charges, such as transportation fees and the volume of gifts received.
Driver: the decreasing fertility rates.
The decreasing fertility rates have increased the demand for fertility treatments. Having kids later in life has increased the demand for sperm or egg-freezing services. The choice to become a single parent is gaining traction. The same-sex partners are increasingly utilizing these services to start a family. All of these trends will bode well for the sperm bank market.
Restraints: The high costs of fertility treatments.
The limited number of market players offering fertility treatments leads to increasing costs for the patients. The high costs of treatments alienate a significant portion of the population, given the unaffordability and inaccessibility. The low awareness regarding such treatments also hampers the market’s growth. The lack of insurance coverage or positive reimbursement policies by the government also limits the market potential.
Opportunities: introduction of new technology.
The low fertility rates have prompted governments of several developed countries to introduce measures to counter the fall in fertility rates. The introduction of favourable laws offering legal coverage to single parents and same-sex partners are many other regulations augmenting the market’s growth. The increasing funding to improve the fertility infrastructure will also bode well for the market. The technological advancements that improve sperm analysis, storage, and extraction will also bode well for the market’s growth.
Challenge: stringent government regulations.
The majority of countries are still apprehensive about fertility treatments. Most of the population dealing with infertility problems are unaware of the causes, conditions and possible treatments. The stringent government regulations restricting access to these treatments further exacerbate the lack of awareness. These restrictions are in place to protect the interests of the patients; however, they limit the market’s growth by reducing the visibility of market players offering these services.
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Some of the major players operating in the global sperm bank market are:
• Cryos International
• European Sperm Bank
• FairFax Cryobank
• New England Cryogenic Center
• London Sperm Bank
• California Cryobank
• Indian Spermtech
• Seattle Sperm Bank
Key Segments covered in the market:
By Services Type
• Semen Analysis
• Sperm Storage
• Specimen Storage
• Genetic Consultation
• Donor Screening
By Donor Type
• Anonymous Donor
• Known Donor
• ID Disclosure Donors
By Vials Type
• Intracervical Insemination (ICI)
• Intrauterine Insemination (IUI)
• In-Vitro Fertilization (IVF)
• In Vitro Fertilization Centers
• Donor Insemination Centers
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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