Egg Freezing and Embryo Banking Market - By Service Type (Egg Freezing, Embryo Banking), Storage Duration (Short, Long), Technology (Vitrification, Slow Freezing), Application (Fertility Preservation, Genetic Screening), Age Group – Global Forecast 2024 – 2032

Egg Freezing and Embryo Banking Market Size

Egg Freezing and Embryo Banking Market size was valued at approximately USD 4.2 billion in 2023 and is projected to grow at a CAGR of 16.7% from 2024 to 2032. Egg freezing, or oocyte cryopreservation, is a process in which a woman’s eggs (oocytes) are extracted, frozen, and stored for future use.
 

This technique allows women to preserve their fertility, providing the option to attempt conception later. Embryo banking is the process of creating and storing embryos for future use. This typically involves fertilizing a woman’s eggs with sperm in a laboratory to create embryos, which are then frozen for later implantation.
 

The market for egg freezing and embryo banking is poised for expansion, driven by societal trends and advancements in reproductive technologies. Individuals are increasingly utilizing fertility preservation through assisted reproductive technology due to delayed parenting, health considerations, and career aspirations. Enhanced awareness and improved success rates are propelling demand for these services, ensuring sustained market growth.
 

Additionally, delayed childbearing driven by sociodemographic factors is anticipated to further fuel market growth. According to the Centers for Disease Control and Prevention (CDC), in 2021, 167,689 of the 413,776 ART cycles were dedicated to egg or embryo banking, where all resultant eggs and embryos were preserved for future use. This trend toward postponing parenthood has led to a growing preference for egg freezing and embryo banking, which is expected to further boost market expansion.
 

Moreover, the World Health Organization's 2023 report reveals that approximately 1 in 6 adults, or about 17.5% of the global population, experience infertility issues. This underscores the rising demand for accessible and affordable fertility care. To address infertility and facilitate delayed parenthood, more individuals are opting for egg and embryo banking. This growing trend in fertility preservation is anticipated to drive market growth.
 

Egg Freezing and Embryo Banking Market Trends

The egg freezing and embryo banking industry is expected to experience significant growth, driven by government initiatives. In Australia, the re-election of the Liberal and Nationals Government has expanded fertility treatment rebates to include egg freezing procedures and increased cycle numbers. As a result, Australian women opting for egg freezing can now claim a USD 2,000 rebate, following a USD 4 million expansion within the NSW Government's USD 80 million Affordable IVF Initiative. These initiative-taking measures are anticipated to boost market growth by making fertility preservation more accessible.
 

Egg Freezing and Embryo Banking Market Analysis

Based on service type, the market is bifurcated into egg freezing and embryo banking. The embryo banking segment dominated the market with the largest revenue of USD 2.7 billion in 2023.
 

• This innovative approach enables individuals to preserve their fertility potential, aligning with evolving lifestyles and delayed parenthood trends. As awareness and societal acceptance grow, the demand for these services is expected to rise. According to the Human Fertilization & Embryology Authority's 2023 report, the UK saw a 6.87% increase in embryo storage cycles in 2020 and a 17.18% increase in 2021 compared to 2019.
   
• Additionally, delayed parenthood due to career aspirations and lifestyle choices is leading individuals to preserve their reproductive potential for future use.

Based on storage duration, the egg freezing and embryo banking market is bifurcated into short-term storage and long-term storage. The long-term storage segment dominated the market and was valued at USD 2.5 billion in 2023.
 

• Social and cultural shifts towards recognizing diverse family planning options and the rising support from insurance companies and employers for fertility preservation benefits contribute to the growth of the long-term storage market for egg freezing and embryo banking.
   
• Furthermore, cancer patients undergoing treatments that may impair fertility are often advised to consider egg freezing or embryo banking as a precautionary measure, leading to a rise in demand for these services.
   

Based on technology, the egg freezing and embryo banking market is bifurcated into vitrification and slow freezing. The vitrification segment held the largest revenue of USD 3.3 billion in 2023.
 

• This technique reduces the formation of ice crystals, which can damage cells, thereby improving the survival rates of thawed eggs and embryos. Additionally, vitrification offers enhanced efficiency and higher success rates in fertility treatments compared to traditional slow-freezing methods.
   
• The growing acceptance and awareness of assisted reproductive technologies (ART), which were valued at USD 34.7 billion in 2023, are further bolstered by the availability of specialized fertility clinics that offer vitrification services.
   

Based on application, the egg freezing and embryo banking market is segmented into fertility preservation, donor egg/embryo programs, genetic screening, and oncofertility. The oncofertility segment held the largest revenue of USD 1.8 billion in 2023.
 

• Increased awareness among cancer patients and healthcare providers about the importance of preserving fertility before undergoing potentially fertility-damaging treatments like chemotherapy and radiation is driving segmental growth.
   
• Additionally, the expansion of oncofertility services through specialized programs at fertility clinics and cancer centers (such as the Adult Fertility Preservation (Oncofertility) Program at Dana-Farber Brigham Cancer Center) offers patients comprehensive options for preserving their reproductive health.
   

Based on age group, the egg freezing and embryo banking market is segmented into under 30, 31 to 40, and over 41. The 31 to 40 segment held the largest revenue of USD 2.7 billion in 2023.
 

• Many individuals in the 31 to 40 age group are focused on advancing their careers or achieving personal goals, leading to a delay in starting a family and creating a demand for fertility preservation options like egg freezing.
   
• Changing societal norms and greater acceptance of diverse family planning choices have led to an increase in the number of people in this age group considering egg freezing to align with their personal and professional timelines.

The North America egg freezing and embryo banking market is forecasted to reach USD 7.4 billion by 2032, propelled by a rapidly aging population, technological advancements, heightened public awareness, and the rising acceptance of assisted reproductive technologies. The U.S. dominated the North American market with the largest revenue of USD 1.7 billion in 2023.
 

• The increasing trend of women delaying childbirth for career advancement, higher education, and personal reasons, particularly prevalent in the U.S. and Canada, is driving market growth in the region. The strong emphasis on career and personal development has led many women to consider fertility preservation as a viable option to balance their professional and personal goals.
   
• Additionally, financial support from insurance companies and employers, who are increasingly including coverage for fertility preservation in their health plans, has also made these procedures more accessible by reducing the cost burden on individuals in the region.
   

The egg freezing and embryo banking market in the UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The UK National Health Service (NHS) and private healthcare providers are increasingly offering fertility preservation services, broadening access to these technologies.
   
• Legislative and policy support in the UK has been evolving to accommodate the needs of those seeking fertility preservation, with changes in the storage limits for frozen eggs and embryos reflecting this trend.
   

Japan's egg freezing and embryo banking market is anticipated to witness lucrative growth between 2024 and 2032.
 

• Supportive regulations and the emergence of the Japan region as a premier medical tourism hub, providing high-quality treatments at competitive prices, are key factors propelling market growth.
   
• For instance, the Tokyo metropolitan government is set to introduce a subsidy to cover egg freezing costs. The fiscal 2023 budget proposal allocates USD 733,000 (approximately 100 million yen) to launch the program. This groundbreaking initiative will provide up to USD 2,199 (around 300,000 yen) per person annually to 200-300 Tokyo residents, irrespective of marital status. This move addresses fertility concerns, enabling women to plan their reproductive futures while prioritizing their careers.
   

The egg freezing and embryo banking market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
 

• The increasing awareness and acceptance of fertility preservation among the population, partly due to the influence of Western medical practices and the growing accessibility of advanced medical technologies, is driving market growth in the region.
   
• Furthermore, the government’s focus on enhancing healthcare infrastructure and promoting medical tourism has also contributed to the availability and quality of fertility preservation services.
   

Egg Freezing and Embryo Banking Market Share

The market is highly fragmented, characterized by the presence of numerous players ranging from specialized fertility clinics to large hospitals and biotechnology companies. This fragmentation is driven by the diverse range of services offered, varying regulatory environments, and differing levels of technological adoption across regions.
 

Key players such as IVIRMA Global, CCRM Fertility, and Boston IVF dominate the landscape, leveraging technological advancements, superior success rates, and comprehensive service packages to maintain a competitive edge. These companies frequently engage in collaborations, partnerships, and mergers to bolster their market presence and expand their service portfolios.
 

The adoption of cutting-edge technologies like vitrification, artificial intelligence, and data analytics is a significant differentiator, enabling higher efficiency and better outcomes. Additionally, regional players adapt their services to align with local cultural and regulatory frameworks, further intensifying competition.
 

Egg Freezing and Embryo Banking Market Companies

Some of the eminent market participants operating in the egg freezing and embryo banking industry include:

• Boston IVF
• Carrot
• CCRM Fertility
• Cryos International
• Extend Fertility LLC
• Genea Pty Limited
• IVIRMA Global
• Monash IVF Group
• New Hope IVF & Fertility Clinic
• Ovation Fertility
• Progyny, Inc.
• ReproTech LLC
• RMA Network
• Shady Grove Fertility
• Spring Fertility
• WINFertilty
   

Egg Freezing and Embryo Banking Industry News:

• In November 2023, Spanish investment firm GED Capital and fertility group IVIRMA Global acquired the Barcelona-based fertility business Eugin Group in a deal valued at up to €500 million (USD 558.4 million), including earn-outs. This acquisition enabled IVIRMA Global to further its expansion into the North American market.
   
• In June 2021, Boston IVF, a fertility clinic with over 25 locations across the U.S., announced a partnership with TMRW Life Sciences, Inc. to introduce innovative technology and automation to its cryostorage and fertility cell management practices. This integration of TMRW’s groundbreaking innovations exemplifies Boston IVF’s ongoing leadership in reproductive medicine. The partnership is expected to enhance operational efficiency, improve the accuracy of cryopreservation processes, and further solidify the clinic’s position at the forefront of fertility treatment advancements.
   

The egg freezing and embryo banking market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Service Type

• Egg freezing
• Embryo banking

Market, By Storage Duration

• Short-term storage
• Long-term storage

Market, By Technology

• Vitrification
• Slow freezing

Market, By Application

• Fertility preservation
• Donor egg/embryo programs
• Genetic screening
• Oncofertility

Market, By Age Group

• Under 30
• 31 to 40
• Over 41

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa