Egg Freezing and Embryo Banking Market Analysis

Egg Freezing and Embryo Banking Market Analysis

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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.