May 11, 2020
The $6 billion fertility clinics/infertility services industry in the United States had been booming through 2019, thanks to growing demand from American couples that have delayed childbearing, more widespread acceptance of fertility treatment and usage by gay couples, improved success rates, a strong economy, and significant demand from medical tourists from Europe and China.
That has come to an end, however. This year, domestic demand will suffer due to the recession and Covid-19 shut-downs, coupled with the expected lack of medical tourists from China and Europe. Literally 50% of this industry’s clinics shut down for two months so far in 2020, while the other half operates under new state mitigation restrictions and lesser patient volumes. The industry’s enviable growth record has been broken and is not likely to resume until 2022.
Key Facts About The Fertility Clinics Industry:
Marketdata analysts estimate that the U.S. infertility services market will fall 18% — from $6.0 billion to $4.8 billion this year. Unlike the Great Recession of 2008, which hardly impacted this business, the Coronavirus and recession will result in a much deeper slump. Marketdata analysts also don’t expect a strong rebound in 2021
The market is comprised of about 450 fertility clinics, 100+ sperm donor banks, the egg donors market, fertility drugs, and 1,700 reproductive endocrinologists – all competing for the business. ART / IVF procedures performed by fertility clinics are represent $3.3 billion of the total.
This market is largely untapped, as 75% of potential clients are not using infertility services. Only 15% of U.S. women have used fertility drugs, only 5.5% have tried artificial insemination, and only 1% have used IVF. However, the number of IVF cycles performed has grown from 70,000 in 1997 to an estimated 331,000 in 2019.
It’s safe to assume that the 150 hospital-based fertility clinics were closed for two months beginning in mid-March. An estimated 25% of the remaining 300 private clinics were closed as well, but not all. Some chose to remain open, while other closed. In most states, fertility clinics have been considered “essential” healthcare services, but not all – those in Massachusetts were closed.
Chinese and European patients traveling to the U.S. for treatment have fueled much of the industry’s strong growth since 2014, an estimated 20-25% of the business, but their numbers have dwindled in 2020 and likely into 2021.
To learn more about this industry, and see the Table of Contents, or to Order, check out Marketdata’s new report: The U.S. Fertility Clinics & Infertility Services Industry, May 2020, 145 Pages (report FS 2 ). 24-page Overview – $99 (OV30)
Go Here: https://www.marketdataenterprises.com/reports/#!/Fertility-Clinics-&-Infertility-Services-Industry-U-S-132-pp-market-research-study-Nov-2018/p/75436172/category=21593525