Increase in incidences of male and female infertility and supportive government initiatives fuel the growth of the global sperm bank market.
PORTLAND, Ore., May 19, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Sperm Bank Market by Donor Type (Known Donor and Anonymous Donor) and Service Type (Sperm Storage, Semen Analysis, and Genetic Consultation): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global sperm bank industry was estimated at $4.74 billion in 2019, and is expected to hit $4.86 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Increase in incidences of male and female infertility, supportive government initiatives, and rise in acceptance among people fuel the growth of the global sperm bank market. On the other hand, high cost and low success rate of treatment impede the growth to some extent. However, technological advancements are anticipated to create lucrative opportunities in the industry.
Covid-19 Scenario:
- The outbreak of the pandemic gave way to a sharp decline in the number of sperm donations, due to extended lockdowns across the world.
- Most reproductive centers happened to restrict their daily activities. Also, several threats and concerns about insemination treatment, sperm donation, and cryopreservation such as adulteration of semen samples and transmission of infectious diseases in due course of the treatment impacted the market negatively.
The known donor segment to retain its dominance by 2027-
By donor type, the known donor segment accounted for the highest share in 2019, generating nearly three-fifths of global sperm bank market. Simultaneously, this segment is also expected to cite the fastest CAGR of 5.3% from 2020 to 2027. This is due to advancements in cryopreservation techniques used in storage of donor sperms, and supporting government regulations for children born with donor gametes.
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The sperm storage segment to rule the roost-
Based on service, the sperm storage segment contributed to the major share in 2019, garnering more than half of the global sperm bank market in 2019, and is expected to lead the trail during the forecast period. This segment is also anticipated to manifest the fastest CAGR of 5.6% from 2020 to 2027. This is due to rise in incidence of miscarriage in women, increase in infertility rate in both male and female, and surge in patient awareness toward effective & advanced fertility treatment, poor sperm fertility, low sperm count, and abnormally shaped sperms.
Asia-Pacific, followed by Europe and North America, had the major share in 2019-
Based on region, Asia-Pacific, followed by Europe and North America generated the major in 2019, holding nearly half of the global sperm bank market, and is expected to dominate by 2027. This region is also projected to cite the fastest CAGR of 5.6% during the forecast period. This is attributed to enormous male populace suffering through infertility and low-cost procedures for fertility treatments in the region.
Front runners in the industry-
- Cryos International
- European Sperm Bank
- Fairfax Cryobank
- New England Cryogenic Center
- Indian Spermtech
- Babyquest Cryobank
- California Cryobank
- Androcryos
- Nordic Cryobank Group
- Xytex Sperm Bank
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