7 Common Misconceptions About Sperm Bank Market
Sperm banks & Medical conditions and male-factor infertility.
The global sperm bank market size is expected to reach USD 5.45 billion by 2025, at a CAGR of 3.3% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by increasing incidence of male andfemale infertility, rising acceptance of sperm banking services, and government initiatives in Assisted Reproductive Techniques (ART). Increasing cases of miscarriage is also one of the key growth contributors.
According to the female age-related infertility study by the American Society for Reproductive Medicine (ASRM), fertility decreases with age. Risks of complications during pregnancy also increase with age, resulting in the use of donor sperms or eggs. Rising trend of smoking is also affecting fertility in males and females. Female smokers achieve menopause earlier as compared to nonsmokers and are also at higher risk of miscarriage. This also represents lucrative opportunities for the market growth.
Rise in funding and supportive initiatives for ART has driven growth of the sperm bank market. For instance, the Australian government funds the ART services under the Medicare Benefit Scheme. It supports the access to In vitro Fertilization (IVF) or ART for the people unable to have children. Other countries with supportive initiatives include U.K., Singapore, and Canada.
Growing acceptance of Lesbian, Gay, Bisexual, and Transgender (LGBT) community is also a key market driver. The Human Rights Campaign (HRC) reports that the LGBT community is growing in U.S., and a survey states that more than 10,000 LGBT identified youth are aged between 13 and 17 years. This represents growing demand for sperm banking services in the country.
Further key findings from the report suggest:
• In 2018, known donor segment held the largest market share in terms of revenue owing to legal framework in various countries against donor anonymity
• Semen analysis accounted for the highest revenue share in 2018. However, sperm storage segment is expected to expand at the faster CAGR over the forecast period
• In vitro fertilization held the largest revenue share in terms of end use, in 2018 and is anticipated to expand at a CAGR of 3.3% over the forecast period
• Asia pacific is expected to register the fastest CAGR over the forecast period owing to the growing fertility tourism and low cost of the procedure
• Key players operating in the sperm bank market include Fairfax Cryobank, Inc.; Cryo-Save AG; Andocryos; New England Cryogenic Center; Indian Spermtech; Seattle Sperm Bank; Xytex Corporation; and London Sperm Bank.
Rising concerns of male infertility due to abnormal and inadequate sperm volume and ejaculatory issues is projected to further drive the demand for sperm bank services. According to the American Association of Pregnancy, male infertility accounts for 30% of the infertility cases, which is around one-fifth of all infertility cases. Apart from genetic problems, male infertility is also caused due to illicit drugs, exposure to toxic substances, frequent alcohol consumption, and smoking. Thus, growing prevalence of male and female infertility worldwide is propelling the adoption of infertility services, such as donor insemination and IVF procedures, thereby boosting the market growth.
Rise in funding and supportive government initiatives across various countries is anticipated to boost adoption of fertility treatments, thereby driving the demand for sperm banks. The Singapore government offers around 75% co-funding for various Assisted Reproductive Technology (ART) procedures, such as IVF, Gamete Intrafallopian Transfer (GIFT), and Intracytoplasmic Sperm Injection (ICSI). In December 2015, the Ontario government announced a USD 50 million fertility program that funds one cycle of IVF and unlimited artificial insemination and intra-uterine insemination treatments. The National Health Service (NHS) also funds the treatment for infertility across the U.K.
Moreover, the market is witnessing lucrative growth opportunities owing to the growing acceptance of single-parent or same-sex families in many societies. Growing acceptance of the Lesbian, Gay, Bisexual, and Transgender (LGBT) community is one of the factors driving sperm donations across various countries. In June 2018, IVF treatment for single women and lesbian couples was made accessible in Malta, after Marie Louise Coleiro Preca, Maltese President signed Embryo Protection (Amendment).
In 2018, known donor segment held the largest market share of 56.1% in terms of revenue and is projected to expand at a lucrative CAGR 4.3% over the forecast period. Changing legal landscape in many countries mandating the right to the offspring to know their biological parent is a key factor for the highest revenue share. Austria, Switzerland, New Zealand, Sweden, U.K., and Australia are the examples of such countries with stringent laws against donor anonymity.
According to a New Hampshire based fertility law firm, New Hampshire Fertility Law PLLC; under the New Hampshire law, use of a known donor can be a reasonable alternative for the prospective parents, after meeting all the legal prerequisites. Use of known donor ensures availability of the medical and behavioral background of the donor. According to Cryos International, the total number of known donors is much lesser than anonymous donors, but the price of a known donor is much higher, which can also contribute to the segment growth.
Anonymous donors do not disclose their identity in any official records however, in some countries it is disclosed to the recipient, by a confidentiality contract between the donor and recipient. The process of using anonymous donor is less complex as compared to that of known donor. However, a growing number of countries adopting the policy of disclosing the biological identity of the offspring is one of the factors that can negatively impact the segment growth.