Leading fertility and family-building company, Kindbody, announced a $62 million Series C raise in June this year, the largest fertility raise in history. Founded in 2018, Kindbody has in-person clinics along with digital offerings covering the full span of fertility services ranging from egg freezing, IVF, IUI, and egg & sperm donation; to adoption, surrogacy and maternity care. In addition, it services ongoing gynaecology and holistic wellness, as well as hosting local and virtual events supporting community education and LGBTQ+ inclusivity. Kindbody is a prime example of a business model that combines bricks and mortar with a digital service offering that we discussed in the rise of the hybrid healthcare delivery model.
The global fertility services market is expected to grow from $16.948 billion in 2020 to $18.475 billion in 2021 at a compound annual growth rate (CAGR) of 9%. According to the Indian Journal of Community Medicine, as of 2019, around 15 to 20 million or 25% of couples suffer from infertility annually, driving the demand for fertility services. The cost of in-vitro fertilization (IVF) varies from person to person, depending on the amount of treatment, or cycles, they need. The average cost of one IVF cycle is $12,000.
More affordable fertility options are entering the scene, indicating a strong demand for cost improvement
Kindbody represents one of the many innovative startups looking to meet this increasing demand for fertility and family-planning services that is, at present day, dramatically underserved due to prohibitive costs, disparities in insurance coverage and lack of compassionate and inclusive care. As we discussed at the start of this blog series, some like Maven aim to disrupt the status quo by working with providers to offer more affordable plans. Oviavo represents another B2B2C model that provides equal access to fertility care, adoption and surrogacy services.
In addition to finding ways to make the fertility journey more affordable, the growing demand for the democratization of accessibility and ease persists. At-home fertility kits are now offered by companies such as:
- Bea is looking to transform fertility treatment with an at-home, clinical-standard fertility kit, launching to early adopters in 2022
- Oova offers at-home urine tests that capture precise fertility hormone levels, the results sync with their app to reveal actionable steps for both partners to improve their ability to conceive
- Stix offers DTC ovulation tests, along with pregnancy prep and prenatal supplements.
- Selectivity.Life developed a device that allows the selection of sperm with the highest chances of conception, paving the way for more efficient, cost-saving technology that brings reproductive treatment to the comfort of patients’ homes
As the mean age of pregnant women rises and issues around fertility continue to become destigmatized, the explosion of fertility innovation is sure to continue.
Head over to our blog page to read more ASV Insights. Next time, ASV Insights looks at the surge of Telehealth and subscriptions for birth control.
