The global intrauterine insemination devices market is estimated to garner a revenue of USD 54 billion by the end of 2031 by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 36 billion in the year 2021. The market growth is estimated to be on the back of the increasing occurrence of infertility across the world. It is estimated that over 14% of couples worldwide are unable to conceive, compelling the global demand for intrauterine insemination devices.
Intrauterine insemination is an artificial process in which the sperm is placed in the upper uterine cavity in order to ease conception. The goal of the procedure is to increase the number of sperms inside a woman’s uterus, thereby raising the chances of impregnation. Catheters, intrauterine insemination media, and sperm wash are some intrauterine insemination devices. They are used when women are unable to get pregnant owing to a condition called endometriosis. Endometriosis afflicts about 10% of women and girls of childbearing age around the world, according to data by the World Health Organization (WHO). This is predicted to promote the growth of the global intrauterine insemination devices market.
The global intrauterine insemination devices market is segmented and analyzed for demand and supply by End User into hospitals and IVF clinics. Of them, the IVF Clinics sub-segment is expected to lead the intrauterine insemination devices market during the forecast period owing to the increasing count of cutting-edge IVF clinics cropping up across the world. Furthermore, there is a growing demand for assisted reproductive technology (ART) from childless and homosexual couples, which is anticipated to propel the intrauterine insemination devices market growth. According to a report published by CDC, about 489 clinics in the United States executed 3,226 ART procedures for every million women of reproductive age.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global intrauterine insemination devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031 owing to the increasing incidence of infertility across the region. A number of infertility treatment clinics are being set up in some developing countries to cater to the growing demand for artificial insemination. Almost 28 million couples in India sought alternative treatment options for conception. Further, over 1600 IVF clinics and hospitals perform an average of 225,000 ART cycles in a year in India, as per latest study.
The global intrauterine insemination devices market is further classified on the basis of region as follows:
Our in-depth analysis of the global intrauterine insemination devices market includes the following segments:
By Product Type
By End User
FREQUENTLY ASKED QUESTIONS
The increasing occurrence of PCOS, surge in drug abuse as well as increase in smoking are some of the major factors driving the market growth.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2031.
The possibility of infection and the higher expenditure associated with the treatment are some of the challenges affecting the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are The Cooper Companies, Inc., Cook Group Incorporated, Kitazato Corporation, Rocket Medical PLC, Prince Medical, Gynotec B.V., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, end user, and by region.
The IVF clinics is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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