Sperm Bank Market to Grow Substantially over 2022-2029 | Brandessence Market Research
LONDON, Sept. 14, 2023 /PRNewswire/ -- According to a comprehensive research report by Brandessence Market Research (BMRC), "Sperm Bank Market Size, Share Outlook Growth By Top Company, Development, Application, Segmentation, Trends And Forecast 2022-2029."
Sperm banks are facilities responsible for collecting, storing sperms, and selling sperms which are gathered from sperm donors. The primary purpose of these banks is to provide sperm for artificial insemination or other assisted reproductive technologies, particularly for individuals or couples who are facing fertility challenges or wish to conceive using donor sperm.
The business intelligence report on this market offers a deep dive assessment of the top factors influencing the expansion trajectory of this industry. Growth drivers, restraints, challenges, and opportunities pertaining to this industry are well elaborated in this marketspace. It also offers a 360-degree outlook of the top market segments and geographical landscape with accurate growth projections of each region, country, and niche segments. Apart from that, it highlights each player operating in this industry with prime focus on their product portfolio, revenue, brand strategies, expansion, and other crucial aspects.
- Increasing rates of infertility, growing number of same-sex couples, and changing lifestyle trends are fuelling market growth.
- Asia Pacific is projected to account for a substantial revenue share due to the increased cases of infertility and growing advancements in assisted reproductive technologies.
- Europe is poised to emerge as one of the fastest growing regions in this industry owing to rising healthcare expenditure and changing legal framework on sperm donation.
Sperm Bank Market is anticipated to garner significant returns over the forecast duration of 2022-2029.
Sperm Bank Market Report Scope:
FairFax Cryobank. Cryos International Sperm Bank, New England Cryogenic Center, Inc., Androcryos and Others
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Elaborating The Key Trends and Dynamics Of Sperm Bank Market:
Increasing rates of infertility, growing number of same-sex couples, and changing lifestyle trends are the primary factors aiding the expansion of this business sphere. Favourable family planning policies, increased healthcare expenditure, along with growing R&D activities in the field are creating lucrative opportunities for this market space to prosper. Moreover, reduced stigma around sperm donation and widespread technological advancements in the field are adding momentum to the progression of this industry vertical.
Major Growth Drivers:
Rising cases on infertility- The world is witnessing an alarming rise in the number of infertile individuals (both male and female). This can be credited to the unhealthy lifestyle trends, genetic factors, and increase in reproductive age, among others. This has resulted in an escalating demand for reproductive technologies that can assist infertile couples to conceive. These factors together are stimulating the overall dynamics of this market space.
Reduced stigma around sperm donation- There was a time when sperm donation was stigmatised. People looked down upon sperm donors. But with increased literacy rates and widespread developments in various verticals, individuals are changing their thought process about the same. Sperm donation can not only help infertile couples to fulfil their dreams of having a child but also is a boon for same-sex couples. This in turn is creating an upward trend in this industry.
Shortage of donors- Despite the reduced stigma around sperm donation, there is still a shortfall of sperm donors across the globe. Ethical and moral concerns, taboo in some societies, and absence of proper sperm banks in underdeveloped or developing nations are making men reluctant to go for sperm donation. This is hindering the remuneration scope of this business vertical.
Competitive landscape of Sperm Bank Market:
- FairFax Cryobank
- Cryos International Sperm Bank
- New England Cryogenic Center, Inc.
Browse In-depth Market Research Report (300 Pages) on Sperm Bank Market:
By donors, the known donors segment is poised to amass notable gains over 2022-2029. This is due to the mandates made by various governments wherein donors are required to reveal their identities so as to ensure their medical or behavioural background.
Geographical Analysis & Landscape:
Asia Pacific Sperm Bank Market:
Asia Pacific is projected to account for a substantial revenue share. This is due to the increased cases of infertility, growing advancements in assisted reproductive technologies, and rising disposable income levels. Moreover, surging R&D activities in the field, rise in the number of IVF centers, and growing rates of same-gender relationships are fuelling market growth.
Europe is poised to emerge as one of the fastest growing regions in this industry owing to rising healthcare expenditure, changing legal framework on sperm donation, and unhealthy lifestyle trends of the masses. Besides, present of prominent players and reduced stigma on the same are adding traction to the development of this regional industry.
Opportunities In This Market:
Same-sex marriage legalization- Many countries are legalizing same-sex marriages as it is a basic human right. It is a fact that same-gender couples cannot produce children biologically and therefore seek help of assisted reproductive technologies. Sperm donation can help such couples to fulfil their dreams of raising a family together. This in turn is creating an upward trend in the market.
Major Developments in Sperm Bank Market:
In June 2022, Axcel's European Sperm Bank was acquired by a private equity investor named Perwyn.
Porter's Five Forces Analysis:
Threat of New Entrants:
The threat of new entrants to the sperm bank market is relatively low. Establishing a sperm bank requires substantial investments in infrastructure, equipment, and personnel. Additionally, stringent regulatory requirements and ethical considerations make it challenging for new entrants to quickly establish credibility and gain the trust of potential donors and recipients. Existing sperm banks may also benefit from economies of scale and established networks, making it difficult for new players to compete effectively.
Bargaining Power of Suppliers:
The bargaining power of suppliers in the sperm bank market is moderate. Suppliers, in this context, refer to the sperm donors. While there is a demand for donor sperm, sperm banks often have screening processes to select qualified donors, which could limit the number of available suppliers. However, advancements in donor recruitment strategies and the increasing acceptance of sperm donation could potentially increase the pool of willing donors, moderating the bargaining power of suppliers.
Bargaining Power of Buyers:
The bargaining power of buyers, which includes individuals or couples seeking donor sperm, can vary. In some regions or countries with limited access to fertility services, the demand for donor sperm may outstrip supply, giving sperm banks some leverage in setting prices. However, in areas with multiple sperm banks and fertility clinics, buyers may have more options and negotiating power. Additionally, the level of demand for specific donor characteristics could influence buyer bargaining power for particular sperm samples.
Threat of Substitutes:
The threat of substitutes in the sperm bank market is relatively low. Assisted reproductive technologies (ART) that utilize donor sperm, such as in vitro fertilization (IVF) and intrauterine insemination (IUI), offer specialized solutions for individuals or couples facing fertility challenges. While natural conception is always an option, ART remains the primary alternative for many individuals seeking donor sperm to conceive.
The competitive rivalry in the sperm bank market can vary depending on the geographical location and the number of established sperm banks in a particular area. In regions with limited sperm banks, there may be less direct competition. However, in areas with several well-established sperm banks, competition may intensify, leading to competitive pricing and marketing strategies to attract donors and recipients.
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