Surrogacy Market was valued US$ 24.57 Bn in 2021 and is expected to reach US$ 138.23 Bn by 2029, at a CAGR of 24.10 % during a forecast period.
Pune, Nov 22, 2022: Maximize Market Research has published a report on the Surrogacy Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the report, the Surrogacy Market size was valued at USD 24.57 Bn. in 2021 and the total market revenue is expected to grow by 24.10 % from 2022 to 2029, reaching nearly USD 138.23 Bn.
Surrogacy Market Overview:
In a process known as surrogacy, the intended parents work together with a surrogate who will carry the child to term. The main causes of surrogacy are the absence of a uterus, uterine defects that are either inherited or acquired (such as a hysterectomy for an oncological condition), repeated IVF failures, medical conditions that make pregnancy unadvisable (such as severe thrombophilia, antiphospholipid syndrome, end-stage renal diseases, or vasculitis), single men, and same-sex relationships (Machtinger et al., 2017). The two types of assisted reproductive techniques used in surrogacy are traditional and gestational. Using conventional technology, a surrogate is transformed into the biological mother of the kid by using her eggs. Like the gestational carrier, the surrogate has no biological relationship to the child.
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Covid-19 Impact:
Due to limitations on non-emergency procedures, the COVID-19 pandemic reduced the overall number of surrogacies globally. Couples who had begun the cycle early in 2020 were unaffected, but deferrals had a significant impact on newly engaged couples. The procedures acquired popularity again as a result of the following decrease in patient burden, and throughout the course of the forecast period, the surrogacy market is expected to experience a sharp increase. A few governments, notably India's, have recently established laws allowing surrogacy to assist widows and divorced women in addition to infertile homogeneous and heterogeneous couples. During the expected period, these restrictions will stimulate global market growth along with rising awareness of the availability of cutting-edge reproductive technologies and alternatives.
Surrogacy Market Dynamics:
The childbearing age has advanced due to the rapidly rising number of working women in emerging nations. Ageing and various lifestyle changes have a detrimental effect on both men's and women's fertility. Additionally, behaviours like drunkenness, smoking, and eating a diet high in calories have an impact on fertility. Due to such a failing lifestyle, less people are becoming fertile, which raises the incidence of infertility. Reproductive medicine has advanced as a result of the rising rate of infertility to offer numerous possibilities, including surrogacy, to help couples have children. In-vitro fertilisation, which has a high success rate, is one of the sophisticated treatments that has entered the market and is being quickly embraced by many would-be parents. As a result, the industry anticipates strong growth in the upcoming years. However, the high expense of treatment in industrialised countries, particularly in the US, can somewhat restrain demand.
The most popular kind of surrogacy, gestational surrogacy, has seen a huge increase in demand recently. The baby born through a gestational surrogacy operation is genetically identical to the intended parent(s). Comparatively speaking, the process is simpler than traditional surrogacy. Since gestational surrogacy has a higher success rate than embryonic surrogacy, it will experience significant development in the years to come.
Recent Developments:
In Jan 2021, The British fertility clinic Bourn Hall Ltd. was purchased by Triangle Capital Corporation. The company will be able to access more clients thanks to the acquisition, which also presents potential for commercial growth.
In Sept 2020, Pathways Fertility is a brand-new network of clinics in Georgia that was developed by Inception Fertility. The new clinic, Pathways, expands its clientele by providing couples with services using the most recent reproductive medicine technologies at a reasonable price.
Surrogacy Market Regional Insights:
In 2021, the European surrogacy market accounted for almost 42% of global revenue. Surrogacy is legal in many European nations, including the Czech Republic, Greece, Russia, UK, Estonia, Greece, and Georgia, to name a few. These nations have a solid infrastructure in place to carry out treatments based on cutting-edge technologies. Due to the affordability of therapy in certain European nations, people from some wealthy nations where surrogacy is expensive seek treatment there. Countries like Estonia and Greece provide reasonably priced care, increasing consumer demand.
To capitalise on the most growth potential, service providers are mostly using acquisition and order to grow up techniques. Numerous organisations, including fertility clinics and hospitals, compete in the worldwide market at the regional and national levels. Numerous businesses, including IVIRMA, Circle Surrogacy, Nova, and New Hope Fertility Clinic, are among those involved. To increase their market share, these suppliers are implementing corporate growth initiatives.
Surrogacy Market Segmentation:
Based on Type, Surrogacy Market is segmented into Gestational surrogacy, and Traditional surrogacy
Based on Technology, Surrogacy Market is segmented into Intrauterine insemination (IUI), In-vitro fertilization (IVF) and Others.
Based on Age Group, Surrogacy Market is segmented into Below 35 years, 35-37 years, 38 - 39 years, 40-42 years, 43-44 years and Over 44 years.
Based on Service Provider, Surrogacy Market is segmented into Hospitals, Fertility clinics, and Others
Based on Region, Surrogacy Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Bever
Nov 22, 2022
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