South Korea Assisted Reproductive Technology Market Size & Outlook
South Korea assisted reproductive technology market, 2018-2030 (US$M)
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South Korea assisted reproductive technology market highlights
- The South Korea assisted reproductive technology market generated a revenue of USD 830.2 million in 2023 and is expected to reach USD 1,381.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, in vitro fertilization (ivf) was the largest revenue generating type in 2023.
- Artificial Insemination is the most lucrative type segment registering the fastest growth during the forecast period.
Assisted reproductive technology market data book summary
| Market revenue in 2023 | USD 830.2 million |
| Market revenue in 2030 | USD 1,381.0 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | In vitro fertilization (ivf) |
| Fastest growing segment | Artificial Insemination |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In Vitro Fertilization (IVF), Artificial Insemination |
| Key market players worldwide | Micromem Technologies Inc, CooperSurgical, FUJIFILM Holdings Corp, Vitrolife AB ADR, European Sperm Bank, Merck KGaA, Ferring, Bloom IVF |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global assisted reproductive technology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan assisted reproductive technology market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,963.4 million by 2030.
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Assisted Reproductive Technology Market Scope
Assisted Reproductive Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea assisted reproductive technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to assisted reproductive technology market will help companies and investors design strategic landscapes.
In vitro fertilization (ivf) was the largest segment with a revenue share of 92.86% in 2023. Horizon Databook has segmented the South Korea assisted reproductive technology market based on in vitro fertilization (ivf), artificial insemination covering the revenue growth of each sub-segment from 2018 to 2030.
Some of the most important factors leading to the expansion of the country's market include positive government initiatives and a decline in fertility. Since 2006, the Korean government has launched the National Support Program for Infertile Couples, which subsidizes ART for married couples. This includes IVF and intrauterine insemination.
This program intends to address the low birth rates in Korea, which is severe concern in the Korean society. According to the government data, which has been compiled annually since 1970, the fertility rate has decreased the most among women in their late 20s.
This record places South Korea near the bottom of the world's lowest fertility rates. It was significantly lower than Japan, which recorded a fertility rate of 1.42 in 2018 despite years of low fertility. Thus, the aforementioned factors are likely to boost the demand for ART in the country.
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Our clientele includes a mix of assisted reproductive technology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea assisted reproductive technology market , including forecasts for subscribers. This country databook contains high-level insights into South Korea assisted reproductive technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea assisted reproductive technology market size, by type, 2018-2030 (US$M)
South Korea Assisted Reproductive Technology Market Outlook Share, 2023 & 2030 (US$M)
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