Sperm donors can be of different types such as known donors, anonymous donors, client donors, and directed donors. A donor produces sperms at a separately allocated place called the men’s production room. Once semen is collected it is then washed for eliminating other unnecessary materials present in the semen. The sperm bank is a specialized service provider where human sperms are collected and stored in preserved condition.
These banks provide various services such as sperm donation, semen analysis, and consultation for genetic problems. These services are provided for couples who are interested to take up artificial insemination for starting a family and especially helpful for those who have trouble conceiving. Additionally, this service is taken by individuals who are facing vasectomy, orchiectomy, chemotherapy, and radiation therapy.
A rise in the cases of infertility across the world resulted in increasing adoption of assisted reproductive technology (ART) therapy, which in turn, fuels the demand for sperm banks. Growing awareness among the global population about the benefits of a sperm bank, the rapid growth of fertility tourism, and key advancements in cryopreservation techniques are some of the major factors that drive significant growth of the market.
In addition to this, the increase in the obese population is becoming challenging factors for infertility in women and low sperm count in men, which is expected to further augment the growth of the target market. Moreover, rising government support and increasing funding for fertility treatment are making a positive impact on the global sperm bank market.
- Based on donor type, the known donor market subjected to tremendous growth for the last several years. Various major countries such as Australia, UK, Sweden, and others have initiated a mandate that ensures the right of offspring to get details about their biological parent. Additionally, the identity of known donors also helps to understand the medical background of the donor, thus complements segmental growth.
- In terms of service type, the sperm storage segment dominated the market and is forecasted to lead the market in the coming years. The increasing prevalence of fertility, rising demand for effective IVF procedures, and modernization in procedures are propelling demand for the segment.
- By end-use, in-vitro fertilization is expected to witness substantial growth, owing to growing awareness regarding the advantages of in-vitro fertilization procedures compared to other procedures. Additionally, a better result ratio of this procedure also contributed to its increased adoption.
- Leading players present in the global sperm bank market include London Sperm Bank, Indian Spermtech, Andocryos, Fairfax Cryobank, Inc., Xytex Corporation, New England Cryogenic Center, and Seattle Sperm Bank, and others.
- The S. sperm bank market is estimated to witness tremendous growth on account of the rising infertility rate in the country. Several reasons cause infertility in the U.S. population such as high stress, diabetes, smoking, poor diet, and higher alcohol consumption.
Key Developments in Sperm Bank Market
- The Fertility Partners (TFP), a leading platform of fertility practices has announced the acquisition of ReproMed and Toronto Institute for Reproductive Medicine. Through this acquisition, the company is targeting to expand its high-quality donor sperm services.
- Queensland based clinic City Fertility has created a new tinder-type app in Australia to find a sperm donor. This new app is called Addam app that allows its users to swipe through potential sperm donors. Users can even apply specific filters to find desired personality, color, height, and medical history.
Deep-dive Insights on Sperm Bank Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/sperm-bank-market