Fertility startups are experiencing a significant boom even amidst a market downturn. This increased activity is a result of a growing demand for fertility treatments and solutions as well as significant advances in fertility technologies.
The increasing infertility rates among couples and individuals have resulted in the high demand for fertility treatments and solutions. Fertility startups have been created to meet the growing demand for these treatments and provide solutions that are less expensive and more accessible to patients.
Though the fertility industry isn’t immune to the COVID-19 pandemic, startups are still buoyant. The global economic impact from the pandemic has not yet significantly impacted fertility startups. Most of them have been able to navigate the crisis by reducing costs and shifting resources as needed.
Technology has played a significant role in the growth of fertility startups. Innovations in fertility technology have made it possible for doctors to diagnose patients quickly and provide personalized treatment solutions. Fertility startups are leveraging technologies such as artificial intelligence, machine learning, and big data to improve the accuracy of diagnoses, personalize treatments for patients, and increase the success rates of fertility treatments.
One example of a fertility startup that has continued to experience growth amid the pandemic is Progyny Inc. The company offers fertility benefits to eligible individuals and couples through their employers, greatly increasing the accessibility of fertility treatments to people who may not otherwise be able to afford them. The company raised a staggering $100 million in a Series C funding round in February, indicating a continued investor appetite for fertility startups in the industry.
Another interesting fertility startup is Kindbody. This startup aims to provide affordable fertility treatments by mitigating the significant costs involved in traditional fertility treatments. Kindbody offers a comprehensive suite of fertility services ranging from egg freezing to in-vitro fertilization (IVF) services. The company raised $32 million in a recent funding round, showing a marked interest in fertility startups.
Fertility startups are poised to continue experiencing a significant growth spurt in the coming years. As infertility becomes more prevalent, patients are looking for more cost-effective and accessible solutions. Fertility startups are filling in the gaps left by traditional fertility treatments by developing groundbreaking technologies and services to meet the needs of patients. Investors are also seeing the value of investing in fertility startups. With a booming market and technology advances, fertility startups will likely continue experiencing sustained growth and a renewed interest from investors.