Global Sperm Bank Market to Clock Impressive Growth—Projected to Reach USD 5,970.0 Million by 2027
Published | 06 October 2021
An increasing number of infertility issues among men and women resulting from unhealthy lifestyles is driving the growth of the global sperm bank market. Furthermore, the growing awareness of assisted reproductive technology (ART) is anticipated to boost market growth.
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that global sperm bank market was worth USD 4,654.0 million in 2020 and is projected to reach USD 5,970.0 million by 2027 at a CAGR of 4.0% during the forecast period (2021-2027). The global sperm bank market is being driven by factors such as the rising number of miscarriages worldwide, technological advancements in sperm storage, and rising awareness of infertility issues, as well as advances in cryopreservation.
Growing fertility tourism favoring the global sperm bank market
The demand for semen analysis services has increased significantly due to the growing fertility tourism trend in countries like Spain, Denmark, Czech Republic, and India. According to the data released by the National Association for Fertility Problems, Spain accounted for more than 40% of total European fertility tourism. Spain's 307 public and private clinics performed 138,553 IVF cycles and 36,463 artificial inseminations in 2016. India is also fast emerging as one of the hottest fertility tourism spots around the world. India has 500 legal fertility clinics, of which 350 offer surrogacy services. Approximately 5% of Indian couples opt for fertility services in India, while 70% of surrogacy cases are from foreign clients and 25% are from non-resident Indians and persons of Indian origin. As countries lift travel restrictions after the COVID-19, fertility tourism is expected to recover steadily and drive the growth of the global sperm bank market during the forecast period.
Increasing prevalence of miscarriages driving the growth of the global sperm bank market
Having a miscarriage is unfortunate for anyone involved, and the number of women experiencing miscarriages is high. According to Cleveland Clinic, almost 10-20% of pregnant women undergo miscarriage. Miscarriages can occur due to several reasons, such as infection, hormonal irregularities, uterine abnormalities, radiation, severe kidney issues, and thyroid disease.
Tommy's, a registered charity in England, Wales, and Scotland, reports that 1 in every four women experiences a miscarriage, and one in every hundred women experiences recurrent miscarriages (three or more in a row). Despite this, more than six in ten women who experience a recurrent miscarriage achieve a successful pregnancy. The encouraging stat shows that techniques like IVF, IUI, and others have significantly helped people conceive. As more and more people become aware of the miracles of IVF, IUI, and other similar techniques, the demand for sperm and sperm bank is likely to propel the growth of the global sperm bank market.
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High cost of the procedures Impeding the growth of the global sperm bank market
The high costs associated with procedures such as in vitro fertilization (IVF), intrauterine insemination (IUI), and other similar procedures are a major hindrance to the growth of the global sperm bank market. According to the American Society of Reproductive Medicine, the average cost of an IVF cycle in the US is USD 12,40. This figure varies greatly based on the patient's location, amount of medication administered, and the number of cycles performed. According to the WHO, 1 in 4 couples in developing countries has infertility issues. The high cost of these techniques and other similar techniques means that most people in developing nations cannot afford such procedures, which hinders the market’s growth.
In-Vitro Fertilization accounted for the largest share in the global sperm bank market in 2020
Global sperm bank market can be grouped into intracervical insemination, intrauterine insemination, in-vitro fertilization, and others, based on insemination techniques. Among these segments, in-vitro fertilization (IVF) dominated the global sperm bank market with largest market share in 2020. In-Vitro fertilization is the most common procedure, with an average pregnancy success rate of 27.3% of all cycles. With the advancement of technology and techniques, success rates are increasing among all age groups. In-vitro fertilization has received a large market share in the global sperm bank market due to this factor.
Global Sperm Bank Market: Regional insights
Global sperm bank market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa regions based on regions. North America dominated the global sperm bank market in 2020 and accounted for the largest market share. North America's large share of the global sperm bank market is primarily due to many people in the region suffering from fertility issues. According to the Centers for Disease Control, 12% of women in the US have difficulty getting pregnant or carrying a child to term, and 10% of couples cannot conceive after two years of unprotected sex. According to the Centers for Disease Control, 6.1 million women between the age of 15-44 face difficulties getting pregnant or staying pregnant, and 36.5% of adults in the US are suffering from obesity. North America has taken a significant share of the global sperm bank market because of the large number of its people suffering from fertility issues, increasing prevalence of obesity, strong healthcare infrastructure, the presence of major market players, and high awareness of the infertility issue.
COVID-19 Impact on Global Sperm Bank Market
One of the few markets that saw increased demand during the lockdown phase was the global sperm bank market. The supply, however, was insufficient due to lockdown restrictions and disruptions in the value chain. According to The Fertility Partnership, one of the largest fertility specialists in the UK, the number of UK donors has declined by 66% since the pandemic. Since March 2020, patients waiting to get sperm donations have been unable to find donors due to a shortage of suitable donors and sperm. COVID-19 caused a significant decrease in the number of assisted reproductive technologies (ARTs) worldwide in 2020. UK and Sweden are on the verge of sperm shortages, and the scenario is expected to continue in 2021.
The Leading Players Operating in the Global Sperm Bank Market are California Cryobank, Cryos International, Fairfax Cryobank Inc., European Sperm Bank, Androcryos, CSG-BIO, Cryobio, NW Cryobank., Indian Spermtech, New England Cryogenic Centre, Seattle Sperm Bank, London Sperm Bank, Baby Quest Cryobank Pvt. Ltd., ReproTech Limited, Semovo, Generate Life Sciences and others. Companies operating in the global sperm bank market constantly strive to increase their market share by increasing awareness, launching new facilities, enhancing existing technologies, or launching new methods and techniques. As a result of low awareness and a small percentage of suitable individuals, Zhejiang Sperm Bank appealed to the public to donate sperm, facing a severe sperm shortage.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global sperm bank market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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