As millennial women enter their 30s, demand for customized and affordable egg freezing services is spiking.
The biggest question women have? How to pay for it.
On average, women spend $15,000 to $20,000 per cycle and opt for two cycles, according to Fertility IQ, , a digital database for information about fertility benefits and treatments.
Marika Frumes, 35, is among the growing number of millennial women opting to freeze their eggs, and now organizes events to educate others.
“This comes up all the time — more in hush-hush corners — because I think women are uncomfortable sharing the fact that maybe they can’t pay for something,” said Fumes, president and CEO of the HER Network. “And who can? It’s $15,000 — in New York.”
As women delay motherhood and take their time in finding the right partner, fertility experts see egg freezing becoming more popular. The average age of women getting this procedure done has gone down to 35 in 2018, from 38 in 2016.
The Society for Reproductive Technology says 10,936 women froze their eggs in 2017 and the market is projected to grow 25% annually over the next two years, according to Fertility IQ.
New entrant Kindbody hosts pop-up clinics and events to target millennial women who are considering their options.
“There are more women who are single professionals with disposable income who are now pursuing egg freezing in the U.S.,” Gina Bartasi, CEO of Kindbody, told CNBC. “It’s estimated that the total market is about $4.3 billion for egg freezing and $2.7 billion for IVF.”
Startups such as Kindbody know how to market their services to millennial women via social media, and are successfully demystifying the conversation, removing the stigma and increasing accessibility, said Frumes.
“Social media is information and awareness, and once something pops in your screen enough times and then you hear it from a friend, you’re going to say ‘wow, wait what is this?'” she said. “And then you might start Googling and then you might start asking more questions.”