The fertility and reproductive health sectors are experiencing dynamic growth, driven by shifting demographics, evolving societal attitudes and rapid technological advancement. The global fertility market size is expected to grow to $87 billion by 2034. As the industry expands, it presents significant opportunities for investors, employers and healthcare providers to innovate, collaborate and improve outcomes for families.
Market Opportunities
The demand for fertility and reproductive health services is on the rise. According to the Centers for Disease Control and Prevention, 13.4% of women experience infertility. The average age of first-time mothers in the United States has increased to 30, up from 27 in 1990. These shifting demographics highlight a need for accessible and effective fertility solutions. The market encompasses a range of services, including in vitro fertilization (IVF), egg and sperm donation, surrogacy, genetic counseling and fertility preservation. The growing diversity of patients, such as same-sex couples and single parents by choice, also drives market expansion and demand for innovation. High-margin elective procedures and adjacent services, such as egg freezing and genetic testing, further contribute to the sector’s growth potential.
State Mandates
Many states focus on creating policies that expand access to fertility services. Currently, 22 states and the District of Columbia require certain employer groups to offer coverage for fertility treatments, including IVF. Some states, such as California and Colorado, require comprehensive coverage that includes fertility preservation, treatment and diagnosis, and IVF procedures. As more states mandate fertility coverage, more individuals will likely seek treatment. States with mandates saw a notable rise in fertility-related diagnoses, demonstrating a previously unmet need. Government involvement in the fertility space is further supported by the White House’s recent executive order dedicating resources to expanding affordable IVF services nationwide.
Employer-Driven Expansion
Employers play an increasingly pivotal role in expanding access to fertility care. Nearly 40% of large employers now offer fertility benefits, often partnering with specialized providers to deliver comprehensive support. These benefits may include coverage for IVF, egg freezing, surrogacy, adoption assistance and access to fertility coaching and mental health resources. As workforce demographics shift and employee expectations evolve, employers are leveraging fertility benefits to attract and retain top talent. This trend is likely to accelerate, with younger generations placing a premium on family-building support and reproductive autonomy. Research indicates that the percentage of employees utilizing fertility benefits is expected to increase to 6.8% within the next five years, up from 3.2% today. Carrot Fertility, for example, is a global fertility benefits provider that partners with employers to offer comprehensive reproductive health coverage. Carrot Fertility uses its digital platform to connect employees with vetted clinics and provide personalized care navigation, cost transparency and support for LGBTQ+ and single parents.
Elective and Adjacent Services
The proliferation of high-margin elective procedures such as egg freezing, genetic testing and donor coordination expanded the addressable market. These services are increasingly bundled with core fertility offerings, creating opportunities for providers to differentiate themselves and create value. Clinics offer comprehensive packages that include fertility preservation, preimplantation genetic testing and personalized treatment plans such as genetic testing, donor coordination and wellness programs, which help to enhance patient experience and differentiate themselves in a competitive market. Genetic testing services from companies such as Natera, a leader in the field, are integrated into clinic services, empowering patients to make personalized and informed healthcare decisions. The integration of adjacent services such as mental health counseling, nutrition and wellness programs further enhances patient experience and outcomes and creates new revenue streams for providers. Illume Fertility, for instance, is a fertility clinic that also offers services such as acupuncture, nutrition and therapy.
Innovation and Technology
Technological innovation is transforming the fertility landscape. Digital health platforms, telemedicine and remote monitoring make fertility care more accessible and convenient. AI and data analytics personalize treatment plans, optimize embryo selection and improve clinical outcomes. Alife Health, for example, uses AI to optimize IVF treatment, including improving embryo selection and creating personalized care plans to increase egg retrieval success. Mobile apps and wearable devices enable patients to track ovulation, monitor hormone levels and communicate with care teams in real time. Kindbody, a venture-backed, physician-led provider, delivers a full spectrum of reproductive care through a tech-enabled model. It offers services directly to patients and works with employers to provide integrated fertility benefits. Progyny, a fertility benefits management company, serves largeemployers using bundled benefits models to reduce out-of-pocket costs for patients while expanding access to fertility treatments and support services. Technology advancements and innovation rapidly drive improvements in patient care and lucrative investment opportunities. Research indicates that as fertility services grow, outsourcing to third-party managers will increase by 25% over the next five years.
Access and Affordability
Despite progress, access to fertility care remains uneven. High costs, limited insurance coverage and geographic disparities continue to pose barriers for many individuals and families. Innovative business models addressing these challenges are likely to attract consumer and investor interest. New entrants such as BUNDL and She’s Well are experimenting with subscription-based pricing, financing options and partnerships with employers and insurers to make fertility care more affordable. These approaches, combined with the broader expansion of telehealth and at-home testing, help close access gaps, particularly in in rural and remote areas.
Regulatory Insights
The regulatory environment for fertility and reproductive health is rapidly evolving. Stakeholders must navigate a complex landscape of federal and state laws governing reproductive rights, privacy and benefits administration. Key considerations include compliance with the Affordable Care Act, HIPAA and anti-discrimination statutes. Recent legislative developments have introduced new requirements and protections related to fertility coverage, reproductive autonomy and data privacy. As policy debates and legal challenges continue to shape the sector, providers and employers must remain vigilant in monitoring and adapting to regulatory shifts to maximize their returns and mitigate compliance risks.
Looking Forward
The fertility and reproductive health sectors are poised for continued expansion, fueled by demographic trends, employer engagement and technological innovation. Stakeholders should closely monitor market developments, regulatory changes and emerging technologies to capitalize on new opportunities and address ongoing challenges. Strategic partnerships, investment in digital solutions and a commitment to patient-centered care will be critical to long-term success in this evolving landscape.
