15 Abr What Key Market Forces are Accelerating the Global Demand and Growth of the Surrogacy Industry, and What are the Key Restraints?
What Are the Key Trends and Insights in the Surrogacy Market?
The surrogacy market is poised for significant growth, driven by increasing awareness and acceptance of assisted reproductive technologies. The market size is projected to expand from USD 194.0 million in 2024 to USD 321.4 million by 2033, reflecting a CAGR of 5.48% during the forecast period. Key factors contributing to this growth include advancements in reproductive health technologies, changing societal norms, and a rising number of individuals seeking surrogacy as a viable option for family building.
Study Assumption Years:
- BASE YEAR: 2024
- HISTORICAL YEAR: 2019-2024
- FORECAST YEAR: 2025-2033
Surrogacy Market Key Takeaways:
- The surrogacy market is expected to grow from USD 194.0 million in 2024 to USD 321.4 million by 2033, at a CAGR of 5.48%.
- Asia Pacific is anticipated to dominate the market due to advanced healthcare infrastructure and legal frameworks supporting surrogacy.
- The increasing acceptance of surrogacy among diverse demographics is driving market growth.
- Technological advancements in reproductive health are enhancing the success rates of surrogacy.
- Rising infertility rates globally are leading to a higher demand for surrogacy services.
- The Asia-Pacific region is emerging as a significant market due to lower costs and increasing awareness.
What Are the Major Growth Drivers for the Surrogacy Market?
Technological Advancements
Tech progress in reproductive health greatly boosts the surrogacy market. New methods like in vitro fertilization (IVF) and genetic testing raise success rates in these arrangements. These tools help parents choose healthy embryos, lowering chances of genetic issues. As these options get easier to access and less pricey, more people will consider surrogacy for starting families, thus driving market growth.
Regulatory Impact
The legal scene around surrogacy is key to how the market shapes up. In areas where surrogacy is accepted and regulated, parents feel more secure and willing. Clear laws protect everyone involved, including surrogates and intended parents. This promoting more people to look into surrogacy. As nations put supportive laws in place, the market should grow, offering a safer, better-structured environment for surrogacy.
Market Demand
Growing need for surrogacy stems from rising infertility rates and changing views on family setups. Many people, including same-sex couples and solo parents, are turning to surrogacy to find parenthood. Plus, the negative views on surrogacy are fading, allowing more people to see it as a valid option. With rising awareness and shifting societal views, demand for these services is set to rise, pushing market growth further.
Market Segmentation:
- By Type:
- Traditional Surrogacy: Involves the surrogate’s egg being fertilized by the intended father’s sperm, making her the biological mother.
- Gestational Surrogacy: The surrogate carries an embryo created through IVF, making her not genetically related to the child.
- By Service Provider:
- Agencies: Organizations that facilitate surrogacy arrangements, providing support and guidance to intended parents and surrogates.
- Independent Surrogacy: Arrangements made directly between intended parents and surrogates without agency involvement.
- By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
What Region Dominates the Surrogacy Market?
North America stands out in the surrogacy market, thanks to its top-notch healthcare and strong legal support. High acceptance of assisted reproductive methods and many trustworthy surrogacy agencies play a part. As more seek services in North America, the market’s growth is expected to continue thanks to ongoing advances in reproductive health.
What Are the Recent Developments and News in the Surrogacy Market?
Recent changes in the surrogacy market show a shift towards clearer and ethical practices. Agencies are doing thorough screenings for surrogates to ensure health and safety. Also, telemedicine is aiding consultations and support for parents and surrogates, making things easier. The stress on ethical practices builds trust among everyone involved, boosting the market’s steady rise.
Who Are the Key Players in the Surrogacy Market?
Bourn Hall Clinic, CARE Fertility, Circle Surrogacy & Egg Donation, Extraordinary Conceptions, Growing Generations LLC, Houston Fertility Center, IVIRMA Global, Max Healthcare, New Hope Fertility Center, Nova IVF, Ovation Fertility, Scanfert Clinic etc.
If you require any specific information that is not currently covered within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, considerations studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Sin comentarios