Cryoport Inc, a US-based logistics firm specialised in shipping cryogenic biological products such as frozen eggs, embryos and sperm, will expand its presence into the Cambodian market to provide shipping and logistics solutions for the Kingdom’s growing in vitro fertilisation (IVF) market, the company said in a statement yesterday.
The company said regulatory actions by the governments of India, Nepal and Thailand had severely restricted reproductive services, making Cambodia a viable alternative for people seeking IVF.
“Demand for in vitro fertilisation has increased in Cambodia, while other countries in South Asia have restricted such reproductive services,” it said.
It added that Cambodia was reported to be among the most affordable IVF options worldwide, with prices just a fraction of those in Western countries.
The global IVF market is expected to grow at 11.6 per cent a year, reaching $21.6 billion in 2020.