What is the market report for sperm banks?
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.
- CAGR: 5.2%
- Current Market Size: USD 4.86 Billion
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2020– 2027
- Base Year: 2019
- Report Key Pointer: COVID-19 Outbreak & Impact
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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.
Expansion in frequencies of male and female barrenness, strong government drives, and ascend in acknowledgment among individuals fuel the development of the worldwide sperm bank market. Then again, significant expense and low achievement pace of treatment block the development somewhat. In any case, mechanical headways are expected to set out rewarding open doors in the business.
Ascend in frequencies of male and female barrenness, strong government drives, and expansion in acknowledgment among individuals drive the development of the worldwide sperm bank market. Notwithstanding, significant expense and low achievement pace of treatment ruin the market development. Then again, mechanical progressions are supposed to introduce new open doors before very long.
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.
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Based on donor type, the known donor segment held the largest market share in 2019, contributing to nearly three-fifths of the total share in 2019, and is estimated to maintain its lead position by 2027. Moreover, this segment is projected to manifest the highest CAGR of 5.3% from 2020 to 2027.
Key players 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
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.
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