Surrogacy Service Market Analysis and Latest Trends
Surrogacy service is a process where a woman carries and gives birth to a child for another individual or couple, who are unable to conceive or carry a pregnancy to term. This service has become increasingly popular in recent years, as more people are turning to surrogacy as a way to build their families.
The surrogacy service market is expected to grow at a CAGR of 9.8% during the forecast period. The market growth is driven by factors such as increasing infertility rates, changing lifestyles, and growing acceptance of alternative family-building methods. Additionally, advancements in technology and medical procedures have made surrogacy more accessible and safer for both the surrogate mother and the intended parents.
One of the latest trends in the surrogacy service market is the growing popularity of gestational surrogacy, where the surrogate mother is not genetically related to the child she carries. This method has proven to be more successful and has reduced the risk of legal complications compared to traditional surrogacy.
Overall, the surrogacy service market is expected to continue to grow as more people seek alternative ways to have children, and as the industry becomes more regulated and standardized.
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Surrogacy Service Major Market Players
The surrogacy service market is highly competitive, with several key players dominating the industry. New Hope Fertility Center, based in New York, is a leading provider of surrogacy services with a strong reputation for success rates and cutting-edge technology. IVI RMA Global is another major player in the market, with a global presence and a focus on providing high-quality fertility treatments. Clinic Scanfert, Bourn Hall Fertility Clinic, NOVA IVI Fertility, Houston Fertility Center, Ovation Fertility, Extraordinary Conceptions, Care Fertility Group, and Growing Generations are other prominent players in the surrogacy service market.
In terms of market growth, the surrogacy service market is expected to witness significant growth in the coming years due to increasing awareness about fertility treatments and advancements in reproductive technologies. The market size is expected to reach USD 6.61 billion by 2026, according to a report by Grand View Research.
Among the companies listed, New Hope Fertility Center has shown steady growth in recent years, with a strong focus on innovation and patient care. IVI RMA Global has also seen significant growth, expanding its global presence and increasing its market share. Bourn Hall Fertility Clinic, with a strong presence in the UK and India, has shown consistent growth and remains a key player in the industry.
While specific sales revenue figures are not publicly disclosed for all companies, it is clear that the surrogacy service market is a lucrative industry with significant potential for growth. As advancements in technology continue to improve success rates and expand the possibilities for intended parents, the market is expected to continue to grow in the coming years.
What Are The Key Opportunities For Surrogacy Service Manufacturers?
The global surrogacy services market is experiencing significant growth due to an increase in infertility rates, changing lifestyles, and advancements in medical technology. The market is expected to continue growing at a steady pace, with North America and Europe being the key regions driving this growth. The rise in acceptance of surrogacy as a viable option for starting a family, along with the increasing number of same-sex couples and single individuals seeking surrogacy services, are also contributing to the market's expansion. The future outlook for the surrogacy services market is promising, with a forecasted increase in demand for these services worldwide.
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Market Segmentation
The Surrogacy Service Market Analysis by types is segmented into:
In the surrogacy service market, there are two main types: Gestational Surrogacy and Traditional Surrogacy. Gestational surrogacy involves the embryo of the intended parents being implanted into the surrogate, who has no genetic connection to the child. In contrast, traditional surrogacy involves the surrogate using her own egg to conceive the child, making her genetically related to the baby. Both types of surrogacy offer options for individuals or couples who are unable to conceive a child on their own.
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