U.S. Births Dropped Last Year, Dashing Hopes for Fertility Trend

The U.S. experienced a decline in births last year, reversing a modest rise in 2024 and undermining hopes for a broader upward trend. This data highlights ongoing demographic shifts and the influence of economic and social factors on fertility decisions. The drop underscores the volatility of the fertility market despite long-term growth projections.

The fertility services market continues to expand, supported by technological adoption and rising demand for assisted reproductive technologies. In 2024 alone, the U.S. recorded 435,533 ART cycles, resulting in 94,943 births. This momentum is expected to continue, with the global fertility services market projected to grow from $35.9 billion in 2024 to $80.1 billion by 2033.

Rising cryopreservation and preimplantation genetic testing (PGT-A) procedures are reshaping the fertility landscape. In the U.S., 141,857 egg and embryo banking cycles were performed in 2024, reflecting a shift toward proactive fertility planning. Corporate and military-sponsored cryopreservation benefits are also contributing to the trend.

Why Did Births Drop Despite Market Growth?

Several factors may explain the decline in U.S. births, even as the fertility services market expands. Economic uncertainty, rising costs of child-rearing, and shifting societal attitudes toward family planning all play a role. Additionally, the aging population and delayed childbearing contribute to the broader demographic shift. These factors suggest that demand for fertility services is increasingly driven by proactive planning rather than natural fertility trends.

How Is the Fertility Market Responding to Changing Demographics?

The fertility services market is adapting through innovation and expanded access. Insurance coverage for fertility treatments is a key driver, with more employers offering fertility benefits. For example, Progyny, a leading fertility benefits provider, now serves over 460 large employers in the U.S. This growth in coverage is expanding access to services like IVF and ICSI.

What Are Analysts Watching Next?

Market analysts are closely monitoring the role of non-discretionary demand, particularly in oncofertility. The need to preserve the reproductive potential of cancer patients is a growing segment, with the Oncofertility Consortium now recognizing over 150 global partner institutions. This segment is less affected by economic cycles and represents a stable source of revenue for the industry.

The fertility services market is also seeing increased adoption of advanced technologies like PGT-A and cryopreservation. These tools allow for more precise and efficient treatment, improving outcomes for patients while supporting market growth. As demand for these services continues to rise, so too will the need for infrastructure and trained professionals to support them.

Investors and industry stakeholders are watching how regulatory changes and insurance expansion will affect long-term market trends. With the market expected to grow at a CAGR of 9.4% from 2025 to 2033, the industry remains a strong investment opportunity despite short-term demographic shifts.