This content was written and submitted by the supplier. It has only been modified to comply with this publication’s space and style.
Cambodia and the Czech Republic are quickly growing in the multi-billion dollar medical tourism business, helping offset regulatory actions by the governments of India, Nepal and Thailand that are severely restricting reproductive services. The actions of these three countries have affected thousands of people around the world who are in need of reproductive treatment and services.
"Cryoport monitors the international reproductive medicine (IVF) market and is positioned to accommodate this global market. Therefore, when actions were taken by the governments of India, Nepal and Thailand that restricted IVF, we sought out alternative IVF markets. We quickly identified Cambodia and the Czech Republic as two dynamic countries with established and growing reproductive medicine markets that will benefit from our advanced cryogenic logistics solutions," said Mark Sawicki, PhD, Chief Commercial Officer of Cryoport.
The Czech Republic is well known for its affordable and high quality medical services, which attracts people from around the world for procedures including reproductive medicine. There are more than 30 fertility clinics in the Czech Republic, with a concentration of clinics in Prague and Brno, as well as Zlin, Olomouc, Kostelec nad Orlici and Hradec Kralove. According to Fertility Clinics Abroad, these clinics are providing excellent standards of fertility treatment.
Cambodia is another example of the ever changing landscape of international IVF. Since 2012, Cambodia has been on the ascent as an IVF center, as its market seems to be ever expanding since the opening of a number of world-class facilities that offer state-of-the-art reproductive treatments and services. IVF in Cambodia is reported to be among the most affordable options worldwide, with prices still at a fraction of Western prices. According to industry sources, the global IVF market will grow at a compound annual growth rate of 11.6% through 2020, at which time, it is estimated that it will be a $21.6 billion market.
"By providing our range of cryogenic logistics solutions to these two countries we are simultaneously helping the IVF industry and executing our growth strategy to support and advance our position as the global leader in end-to-end cold chain logistics for life sciences in this important area of reproductive medicine," said Jerrell Shelton, Chief Executive Officer of Cryoport.
With strategically placed depots in Europe, Asia and North America, Cryoport is able to support cryogenic logistic solutions in more than 90 countries. Cryoport's cold chain logistics solutions monitor temperatures and record the location of packages throughout the entire logistics process. Cryoport is the only cryogenic logistics company in the life sciences industry to provide comprehensive "chain of condition" and "chain of custody" reporting. Cryoport is dedicated to quality and, to its knowledge, is the only company that exercises a rigid quality assurance program, which includes data extraction, as well as exacting standards for individual package qualifications and before each shipment. In all areas, Cryoport strives to maintain the highest quality standards when transporting valuable IVF materials as well as other important life sciences materials.
