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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Surrogacy Market Regional Analysis
Asia Pacific is expected to occupy a significant share of the market in the forecast period because surrogacy in developing nations like India is less expensive than in affluent countries like the United States and Canada, adding to this region's market growth. Furthermore, in the forecast period, the best technical outreach and inclination for surrogacy, particularly IVF kinds, is expected to further help in the surrogacy market growth.
In addition, due to the rising number of specialised clinics for assisted reproductive technologies, the surrogacy market in this area is expected to witness healthy growth. Hence, the region is expected to provide lucrative opportunities to the key players operating in the surrogacy market.
In June 2023, Beijing's government announced that it would cover 16 types of assisted reproduction technology under the city's health care system from July 1, the latest move by authorities to boost China's flagging birth rate. In-vitro fertilization, embryo transplantation, freezing, and storing semen are some of the treatments that would be included under basic insurance, said Du Xin, deputy director of Beijing's Municipal Medical Insurance Bureau.
This move was taken as China is facing a decline in birth rates. The number of newborns dropped to a record low of 6.77 per 1,000 people last year and is expected to decline further in 2023. Such initiatives may enable people to consider using procedures like IVF, IUI, and others to find a solution for their personal choices and infertility issues boosting the surrogacy market growth.
The initiative to cover 16 types of ART may increase access among people, the financial support is expected to boost the demand for such procedures including surrogacy, among people, propelling the market growth.
Surrogacy Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 81.5 billion in 2023, driven by rising infertility problems among people.
The market is anticipated to grow at a CAGR of 24.3% during the forecast period of 2024-2032 and is likely to reach a market value of USD 577.8 billion by 2032.
The market growth is driven by factors such as rising technological advancements in fertility procedures, increasing rates of gamete donations, rising disposable income specifically in developed countries, rising awareness of infertility treatments, and the rise in the prevalence of polycystic ovarian syndrome, companies innovating to bring new technologies into the surrogacy market and increasing collaboration between market players.
Government initiatives such as the Beijing government announcing the inclusion of 16 types of ART technologies under the healthcare system, are among major trends influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Types of surrogacies include gestational surrogacy and traditional surrogacy.
Surrogacy may involve IVF with ICSI, IVF without ICSI, and intrauterine insemination, among others.
End users in the market are hospitals and IVF centres, among others.
Key players involved in the market are New Hope Fertility Clinic, Houston Fertility Center, Ovation Fertility, Extraordinary Conceptions, CARE Fertility, Growing Generations, LLC, IVI RMA GLOBAL, CLINIC SCANFERT, BOURN HALL FERTILITY CLINIC, NOVA IVI FERTILITY, Associates Reproductive Medicine & Infertility, and Cardone.
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Australia
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India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
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+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124