By Lauren Clark, Andrew Kosari, and The Sunfish Team
How large is the potential for the global fertility market? According to new research, the total potential demand for ‘assisted reproductive technology’ (ART) services including IVF, surrogacy, and medications is $1.7 trillion. The exponential growth of the industry is fueled by various factors including delayed childbearing, rising infertility rates, and advancements in reproductive technologies.
The table below is factoring in the global prevalence of infertility, habitual miscarriage, genetic disease, the LGBTQ+ population, and IVF for cancer patients, while also accounting for the average cost and success rates of one IVF cycle in 2023. The table below does not consider rising rates of infertility over subsequent years nor the growing number of LGBTQIA+ families. Therefore, 1.7 trillion could turn out to be a conservative estimate.
Understanding the Landscape
This vast unmet demand for fertility treatments comes from 5 major categories:
Sources: 17.5% of adults face infertility, 2023, WHO; 2.0% of adults face habitual miscarriage, 2023, NCBI; 8 million newborns are born with a birth defect every year, 2023, WHO; 9% LGBT+ 2021, IPSOS; 0.2% cancer, 2022, WCRS
Research & Calculations by Andrew Kosari
*Assumptions: These calculations are based on a number of assumptions, including estimated average treatment costs and US CDC success data to estimate the number of couples that will require 1, 2, or 3 cycles to have one child. Of course, these numbers are intended to be estimations and we would welcome further research or comments to develop more nuanced calculations.
The gap between the current global market size, $54.12 billion in 2023, and the much larger need for these health services calls into question what key factors will increase accessibility and help offer healthcare to all who need it.
Access and Affordability:
Despite the vast potential of assisted reproductive services, the current landscape is characterized by two main challenges: access and affordability. The high costs and shortage of reproductive health care providers make it hard to find and afford treatment.
Fertility treatments such as IVF and egg freezing can cost tens of thousands of dollars per cycle in the U.S., placing them out of reach for many prospective parents.The shortage of care exacerbates the challenge of infertility faced by individuals and couples seeking fertility treatment, leading to long waitlists, travel costs, and limited options. Sunfish, a California-based technology company, offers financial options such as loans and guarantees to help make the cost of fertility treatments more affordable to many.
Meeting Demand:
There are many opportunities to address the gap in fertility care especially with advanced technology. Innovative solutions such as artificial intelligence, enhanced robotics, remote monitoring, and financing solutions, such as Sunfish, can help bring down costs.
In-vitro fertilization clinic networks such as Ivy and Kindbody are also working to solve this demand using an array of techniques in order to help more patients.
According to Constance Rapson, Chief Growth Officer of the Ivy, “Ivy is a growing network of clinics that uses M&A, De Novo operations, digital health, payor strategy and innovative provider capacity solutions to serve patients throughout the country. We also hope that more REI fellowship programs can be funded to support more REIs in the field.”
In 2023, Kindbody, a national fertility clinic network, is also approaching this issue. They launched KindInstitute to address this urgent need for high-quality reproductive care by training board-certified OB/GYNs in the clinical aspects of reproductive endocrinology and infertility (REI) medicine. “Kindbody was founded to create health equity and make family-building more affordable. KindInstitute furthers our mission by increasing the number of physicians available,” said Dr. Angie Beltsos, Chief Executive Physician of Kindbody. “With KindInstitute, we are increasing accessibility and volume by training OB/GYNs and advanced practice providers so REIs (Reproductive Endocrinologists and Infertility specialists) can increase volume by 50% or more.”
Conclusion:
New technology and existing clinics can work together to face these challenges head-on. We hope to one day ensure that all individuals and couples have the opportunity to pursue their dreams of starting a family.
The global fertility market presents immense opportunities for innovation and growth, yet its potential remains untapped due to the prohibitive cost and shortage of care. By improving access and affordability, we can unlock the full potential of the fertility market and ensure that every individual has the opportunity to build the family they desire.
