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.
The global sperm bank market size was valued at $4,741.51 million in 2019, and is projected to reach $4,860.39 million by 2027, registering a CAGR of 5.2% from 2020 to 2027.
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.
The key market players profiled in the report include Androcryos, Babyquest Cryobank, California Cryobank, Cryos International, European Sperm Bank, Fairfax Cryobank, New England Cryogenic Center, Nordic Cryobank Group, Xytex Sperm Bank and Indian Spermtech.
Asia-Pacific is predicted to dominate the growth of the sperm bank market due to surge in infertility cases and rise in awareness regarding sperm banking services among the population. For instance, according to article published in Indian Journal of Community Medicine, in 2019, infertility is a significant health condition that affects approximately 8%–10% of couples around the world. Infertility affects 60–80 million couples worldwide each year, with India accounting for approximately a quarter of them. On the other hand, Europe is anticipated to be the second largest market during the analysis period owing to presence of higher number of sperm banks, existence of advanced reproductive technology, augmentation of rate of miscarriages, rise in investment in healthcare, and increase in awareness about the healthcare technologies among Europeans.
The global sperm bank market is driven by increase in incidence of male and female infertility and rise in demand for various infertility and artificial insemination techniques such as in vitro Fertilization (IVF) and donor insemination. Moreover, government initiative to support sperm bank, surge in acceptance of sperm bank across the globe, and technological advancement and development in the sperm bank industry are some factors that fuel the growth of the sperm bank market.
Onkar Sumant
Manager, Healthcare at Allied Market Research
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