The global commercial surrogacy industry is anticipated to be valued at $14 billion by the end of the year, according to market research firm worldwide industry Insights.
Women are frequently obliged to go to extraordinary lengths to obtain money to feed their families in underdeveloped regions, particularly those in the global south.
In the few nations where it is allowed, commercial surrogacy—the practice of receiving cash for bearing a child—is booming.
However, several countries do permit charitable surrogacy. This includes surrogacy arrangements when the surrogate receives no financial compensation.
In the majority of altruistic surrogacy agreements, the surrogate is a close friend or relative of the intended parents.
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According to MacRoberts Attorneys, commercial surrogacy is unlawful in South Africa and carries criminal penalties if it is practiced. Only altruistic surrogacy is recognized by the law.
Ukraine, Georgia, Russia, and Colombia, according to Reuters, all permit commercial surrogacy. Due to the influx of international couples and singletons seeking surrogates, these locations are referred to as commercial surrogacy hotspots.
“The demand is driven primarily by so-called intended parents in wealthy, Western nations. Many of these are seeking cross-border surrogacy services to avoid long waiting lists or higher fees at home. Or because domestic laws forbid surrogacy or exclude particular groups, such as gay couples, from the practice. The end of Covid-19 travel bans also led to an increase in global surrogacy,’’ reported CNBC.
As infertility issues worsen worldwide and more same-sex couples and single people look for alternate ways to have children, it is also predicted that this amount would increase to $129 billion by 2032.