Sperm Bank Market To Hit Value .45 Billion By 2025 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on April 13th, 2023 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. 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. Based on the report published by the CNN International Edition in October 2015, a rapidly growing number of women visiting fertility clinics is creating a void between demand and supply of sperms. The increasing need of sperms for managing infertility is one of the crucial factors expected to boost the market over the forecast period. In October 2014, the Britain government had set up National Sperm Bank with government grant of approximately USD 77,000 to tackle the shortage. However, the sperm bank had stopped its donor recruitment after 2 years of its launch, since the bank was unable generate income out of it. The huge shortage of donors is further expected to drive demand in the international market, thus, expanding fertility tourism market over the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/sperm-bank-market/request/rs1 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. Further key findings from the report suggest:
Rise in funding and supportive government initiatives across various countries is anticipated to boost adoption of fertility treatments, thereby driving the demand for sperm banks. The Singapore government offers around 75% co-funding for various Assisted Reproductive Technology (ART) procedures, such as IVF, Gamete Intrafallopian Transfer (GIFT), and Intracytoplasmic Sperm Injection (ICSI). In December 2015, the Ontario government announced a USD 50 million fertility program that funds one cycle of IVF and unlimited artificial insemination and intra-uterine insemination treatments. The National Health Service (NHS) also funds the treatment for infertility across the U.K. 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. In June 2018, IVF treatment for single women and lesbian couples was made accessible in Malta, after Marie Louise Coleiro Preca, Maltese President signed Embryo Protection (Amendment). Cryos International is one of the largest global sperm bank. It exports its product to over 80 countries and has also announced that it exports approximately 96% of the production. The growing number of registered donors and increasing sperm importation are some of the factors expected to drive the market over the forecast period. Cryos has also relocated from New York to Central Florida Research Park near the UCF campus. The growing engagement of key players in rapid technological advancements is expected to boost the market over the forecast period. 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)
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