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(India.CityRegions.Com, June 09, 2021 ) Global Sperm Bank Market was valued at USD 4.85 billion in 2020 which expected to reach USD 6.22 billion by 2027, at a CAGR 3.5% from 2020 to2027.
Sperm bank is also known as cryobank or semen bank, which is a specialized enterprise, responsible for collection, freezing as well as storage of sperms collected from human sperm donors. The sperm donated in the bank called as donor sperm which is used by women who are not able to conceive due to some reasons like widow, physiological problems, etc.
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The increase in innovations in cryopreservation techniques is expected to boost the growth of global sperm bank market. Further, the increase in awareness, emergence of fertility tourism, as well as the growing access to infertility treatment are the key factors propelling the growth of global sperm bank market over the forecast period. Also, the increase in risk of miscarriages is also among few key factors which expected to support the market growth. For instance, as per the article published by Tommys, an organization funding research in the area of stillbirths, premature births & miscarriage in the U.K., around 650 babies were miscarried every day in the 2017.The increase in acceptance of single-parent or same sex families across various countries & societies is anticipated to create lucrative opportunities for the growth of the global sperm bank market over the forecast period.
Impact of COVID-19 on Market
The COVID-19 outbreak has resulted in lockdowns across the globe, thereby impacting every industry vertical. Likewise, the sperm bank market is also affected by the pandemic, due to the rise in illness, which decreases the sperm donation among people. Also, people undergoing treatment lost access to services due to lockdown in various countries. Thus, the increase in novel coronavirus cases expected to hamper the global sperm bank market growth.
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Various key operating players are listed in this report such as Cryo-Save AG, Fairfax Cryobank, Inc, Xytex Corporation, Indian Spermtech, Seattle Sperm Bank, London Sperm Bank, Andocryos, New England Cryogenic Center, California Cryobank, Babyquest Cryobank,etc.
By Donor Type
By Service Type
By End Use
In vitro Fertilization
Middle East & Africa
The Global Sperm Bank Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America sperm bank market share is estimated to hold a majority market share in 2020, due to the rowing prevalence of infertility population in the region. For instance, as per the Centers for Disease Control and Prevention, approximately 6.1 million women in the United States aged between 15 to 44 experience difficulty in conceiving. Further, The market in the Europe region is estimated to garner significant share in the market, due to the increase in cases on infertility due to the high share of obese population.
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