PUBLISHER: Grand View Research | PRODUCT CODE: 1363517
PUBLISHER: Grand View Research | PRODUCT CODE: 1363517
The global egg freezing and embryo banking market size is expected to reach USD 13.8 billion by 2030, based on a new report by Grand View Research, Inc.., exhibiting a CAGR of 16.80% during the forecast period. The market for egg freezing and embryo banking is projected to experience significant growth due to advancements in medical technology and improvements in the egg-freezing process that have made it a more reliable and viable option. As fertility treatment success improves, more women consider egg freezing for fertility preservation.
Egg freezing and embryo banking offer various benefits such as reproductive flexibility, extended family planning, and medical adaptability. These advantages enhance family planning options, reduce time pressure on family-building decisions, and boost emotional well-being, driving market growth. In May 2022, a study published by NYU Grossman School of Medicine and NYU Langone Fertility Center demonstrated a 70% success rate in having a child for women who froze eggs before 38 years of age and thawed at least 20 eggs, spanning 15 years of real-life outcomes. With 211 babies born, these findings underscore the efficacy of egg-freezing technology, highlighting its importance in enhancing reproductive success.
As awareness grows and technology improves further, the market is projected to expand in the coming years. The surging demand for egg freezing and embryo banking, combined with strategic partnerships among major players, is propelling significant growth in the market, enriching healthcare options for those in need.
For instance, in April 2023, CCRM Fertility, a global leader in fertility treatment and research, announced its acquisition of The New Hope Center for Reproductive Medicine, a fertility clinic based in Virginia Beach, Virginia. This expansion broadens CCRM Fertility's presence on the East Coast of the U.S., facilitating easier access to innovative fertility treatments, comprehensive testing, advanced laboratories, and in-house genetics and research. The development is poised to contribute to the advancement of fertility care and treatment options.