GlobalData, a data and analytics company, on Thursday said that expanding assisted reproductive technology (ART) centres and facilities are set to drive the Indian ART devices market at a compound annual growth rate (CAGR) of around 8 percent between 2022 and 2030.
According to the data and analytics company, this growth will be fueled by high infertility cases, raising awareness, and new advances in science and technology.
GlobalData’s report, “Assisted Reproductive Technology Devices Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030,”, reveals that Asia-Pacific (APAC) is the largest market of ART devices globally, followed by Europe and North America.
Within APAC, India has the potential of performing more in-vitro fertilization (IVF) cycles due to its large population of infertile couples, the data and analytics company claimed.
However, due to the very low number of clinics reporting to the National ART Registry, the numbers are highly underreported.
“The market for ART devices in India is expected to further strengthen by sustained government initiatives, with the most recent being the Assisted Reproductive Technology (Regulation) Rules, 2022, which aims at regulating and supervising all ART clinics and banks, and preventing the misuse of the procedure while providing services in a safe and ethical manner,” Shreya Jain, Medical Devices Analyst at GlobalData, said in a statement on Thursday.
Despite growing familiarity and acceptance of a wide range of ART procedures, questions remain about their safety, efficacy, and cost, as per GlobalData.
Meanwhile, Dropout or discontinuation is also an issue in fertility clinics, that can be attributed to the side effects of fertility drugs, pregnancy complications or the increased risk of birth defects, and maternal and fetal morbidity, it stated.
ART procedures are most likely to have a successful outcome, the birth of a healthy baby, when the patient, treatment and organizational factors all align, the company claimed..
“With a better understanding of the causes of infertility and the resulting increased likelihood of success, assisted reproductive techniques are now the preferred choice of many infertile individuals. However, for ART to establish itself as a winner in overcoming the natural barriers to fertilization, addressing current challenges such as social acceptability, affordability, associated risks, adequate reporting by clinics, and standardization of protocols is critical,” Jain added.
