Fertility Market Overview

The Appeal of the Fertility Services Industry

Investors are highly interested in the fertility services industry due to its large size, fragmentation, and growth opportunities. 

  • The U.S. fertility market is estimated to be $8 billion across in-vitro fertilization (“IVF”), genetic testing, reproductive tissue storage, and donor services.
  • Growing awareness of IVF and related services are creating an ever larger addressable market opportunity; U.S. IVF services alone estimated at $3B and projected to grow at a ~10%+ CAGR through 2024P.
  • Strong, long-term demand drivers include:
    • Cultural shift to having children later in life, as well as lifestyle and health issues increasing incidences of infertility
    • One of few healthcare service sectors in which clinical outcomes data are measured and reported, providing potential benefit to best-in-class providers
    • Significant private pay component provides highly attractive reimbursement profile and insulation from pricing pressures relative to other healthcare sectors
    • Highly recession-resistant demand due to parents’ desire to build families and the ticking of the biological clock.
  • Highly fragmented provider landscape comprised primarily of local / regional clinics provides an opportunity for platforms of scale, to differentiate by leveraging platform to develop best practices, invest in new technology, attract new physician partners and scientists, and improve operations.

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Andy Dixon, Managing Director

Nick Owens, Director

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