Global Sperm Bank Market Outlook
According to a new report by Expert Market Research titled “Global Sperm Bank Market Size, Share, Analysis, Report, Demand, Trends, Forecast 2023-2028″, the global sperm bank market is projected to grow at a CAGR of 3.4% between 2023 and 2028. Aided by the rising number of infertility cases, advancements in reproductive technologies, and evolving societal norms around family planning, the market is expected to grow significantly by 2028.
A sperm bank, colloquially known as a cryobank, is a specialised establishment that collects, freezes, and stores human sperm. This sperm, post rigorous screening, can later be used for artificial insemination and other fertility treatments. The demand for such services has seen a considerable surge in recent years, primarily driven by socio-cultural and medical factors.
A key driver of the global sperm bank market growth is the increasing incidence of infertility worldwide. Changing lifestyles, environmental factors, and health conditions are rendering a significant portion of the global population infertile. This has led to heightened reliance on assisted reproductive technologies, including in-vitro fertilisation (IVF) and intrauterine insemination (IUI), wherein sperm banks play an indispensable role.
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Parallelly, societal acceptance and evolving family dynamics are bolstering the sperm bank market demand. The rising acceptance of LGBTQ+ communities and their rights to parenthood, coupled with an increase in the number of single women opting for motherhood, has significantly expanded the customer base of sperm banks. The societal shift towards more flexible definitions of family and increasing respect for individual reproductive choices is expected to further uplift the market in the coming years.
Furthermore, one of the crucial sperm bank market trends is technological advancements in the field of cryopreservation and fertility treatments that have enhanced the efficacy and scope of sperm banks. These innovations not only ensure a higher success rate for artificial inseminations but also extend the viability of stored sperm, making it an attractive option for prospective parents as well as sperm donors.
Medical tourism, especially in countries renowned for their advanced reproductive healthcare infrastructure, such as Spain, Denmark, and the United States, is also playing a pivotal role in propelling the sperm bank market. As fertility treatments are often exorbitantly priced, many individuals and couples seek cost-effective alternatives in foreign nations, thereby indirectly expanding the sperm bank market size.
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Global Sperm Bank Market Segmentation
The market can be divided based on donor type, service type, end use, and region.
Market Breakup by Donor Type
- Known Donor
- Anonymous Donor
Market Breakup by Service Type
- Sperm Storage
- Genetic Consultation
Market Breakup by End Use
- Donor Insemination
- In Vitro Fertilisation
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global sperm bank market. Some of the major players explored in the report by Expert Market Research are as follows:
- Seattle Sperm Bank
- Cryo-Save AG
- Xytex Corporation
- Fairfax Crobank Inc.
- Indian Spermtech
- European Sperm Bank APS
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