Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 271.32 Million

CAGR (2023-2028)

7.25%

Fastest Growing Segment

Neonatal Care

Largest Market

North America

 

Market Overview

Global Artificial Womb Facility Market was valued at USD 271.32 Million in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.25% through 2028. The Global Artificial Womb Facility Market is on the brink of transformation. With advancements in medical technology and a growing interest in alternative methods of gestation, the artificial womb is no longer just a concept from science fiction but a reality. This groundbreaking innovation promises to revolutionize pregnancy and childbirth, offering a multitude of opportunities for families, healthcare providers, and researchers. An artificial womb, also known as an ectogenesis chamber, is a device that replicates the conditions of a natural womb to support the growth and development of a fetus outside of a human body. It aims to provide a controlled environment where a preterm or at-risk fetus can continue to develop until it reaches a viable stage, potentially reducing the complications associated with premature births. These devices can be instrumental in alleviating various medical and ethical challenges associated with traditional pregnancies.

The global healthcare industry is witnessing rapid technological advancements. These innovations extend beyond the treatment of diseases to the realm of reproductive health and prenatal care. Preterm birth is a significant global health issue, with approximately 10% of all births occurring prematurely. Artificial womb technology aims to provide a solution by enabling the continued development of preterm babies in a controlled environment. Artificial wombs open up discussions about the ethical implications of gestation outside the human body. The market will continue to be shaped by these ethical discussions and regulatory decisions. Artificial wombs could offer hope to individuals and couples struggling with infertility, providing an alternative to traditional pregnancy.

Key Market Drivers

Reduction in Maternal Mortality is Driving the Global Artificial Womb Facility Market

Maternal mortality, a tragic and largely preventable occurrence, has long been a global concern. The World Health Organization (WHO) defines maternal mortality as the death of a woman during pregnancy, childbirth, or within 42 days of termination of pregnancy, irrespective of the duration and site of the pregnancy. While significant progress has been made in reducing maternal mortality rates worldwide, it continues to be a critical issue, particularly in developing countries. As we strive for better healthcare outcomes, one innovative solution is emerging as a potential game-changer: the artificial womb facility. This technology has the potential to significantly reduce maternal mortality and drive the global artificial womb facility market. Maternal mortality is a multifaceted problem that reflects not only the health of women but also the accessibility and quality of healthcare services. The root causes of maternal mortality are varied and complex, including inadequate prenatal care, limited access to healthcare facilities, cultural and social factors, and medical complications during pregnancy and childbirth. According to the WHO, approximately 810 women die every day from preventable causes related to pregnancy and childbirth. This equates to over 295,000 maternal deaths annually. Artificial wombs, often referred to as "ectogenesis," are a groundbreaking technological development in the field of reproductive medicine. These devices aim to provide an environment outside the human body where a developing fetus can thrive. While still in the experimental stage, artificial wombs hold the promise of transforming reproductive healthcare by reducing the risks associated with pregnancy and childbirth. One of the most significant advantages of artificial wombs is the potential to eliminate many of the risks that pregnant women face during the gestational period. Maternal mortality often results from complications related to pregnancy, including preeclampsia, hemorrhage, infections, and obstructed labor. With artificial wombs, the fetus can be safely nurtured outside the mother's body, reducing the risk of these life-threatening complications.

In many parts of the world, particularly in remote or underserved regions, access to proper medical facilities and trained healthcare professionals is limited. Artificial womb facilities could be set up in centralized locations, making specialized prenatal care and monitoring more accessible to a broader population. This has the potential to reduce maternal mortality by providing timely interventions and monitoring, thus ensuring safer pregnancies and childbirth. Artificial womb technology also offers an alternative to traditional pregnancies. Women who face health issues or complications during pregnancy may have more options to consider, including transferring their pregnancy to an artificial womb. This can empower women to make choices that prioritize their well-being and the health of their child while reducing the risk of maternal mortality. As research and development in artificial womb technology advances, private and public investments in this field are growing. The global artificial womb facility market is expected to experience substantial growth in the coming years as more resources are allocated to develop and refine this technology.

Rising Preterm Birth Rates is Driving the Global Artificial Womb Facility Market

Preterm birth is a major global health challenge. According to the World Health Organization (WHO), approximately 15 million babies are born prematurely each year, accounting for over 1 in 10 births worldwide. Preterm birth is a leading cause of infant mortality and is associated with a higher risk of lifelong health issues, such as cognitive and developmental impairments, respiratory problems, and more. The rise in preterm birth rates is a matter of concern for healthcare systems worldwide. Several factors contribute to the increase in preterm births. Older mothers (above the age of 35) and very young mothers (under the age of 18) are at higher risk of preterm births. Women carrying twins, triplets, or more are more likely to experience preterm labor and delivery. Smoking, substance abuse, and poor prenatal care can increase the risk of preterm birth. Conditions like high blood pressure and diabetes can increase the likelihood of preterm delivery. Exposure to pollution and other environmental hazards can also play a role.

As preterm birth rates continue to rise, medical professionals are exploring innovative ways to mitigate the associated risks and complications. Artificial womb facilities, also known as extrauterine support systems, represent a promising solution. These facilities are designed to provide an environment that mimics the conditions of the mother's womb, allowing the premature infant to continue developing and growing outside the mother's body.

Artificial womb facilities enable continuous monitoring of vital signs and fetal development, providing early intervention if complications arise. These facilities can potentially reduce the risks of infections and complications associated with traditional neonatal intensive care units (NICUs). Artificial womb technology aims to provide an environment that supports better development of organs and tissues, reducing long-term health issues for premature babies. Infant Bonding: Parents can participate more actively in the care of their premature infants as they can see and interact with them in a controlled environment.


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Key Market Challenges

Ethical and Moral Concerns

The ethical and moral concerns surrounding artificial wombs are significant and complex. Questions about when life begins, the potential for misuse, and the creation of a dystopian society where human reproduction is entirely divorced from natural processes have raised red flags among many stakeholders. Striking a balance between technological progress and ethical considerations is a daunting task that the market must confront.

Regulatory Hurdles

The regulatory framework for artificial womb technology is far from clear. Existing laws and regulations governing human reproduction and medical devices are not well-suited to address the unique challenges presented by artificial wombs. As such, market players are faced with the challenging task of navigating an intricate web of regulations, potentially slowing down the development and implementation of this technology.

Technical Complexity

Developing an artificial womb is an immensely complex technological feat. Researchers and engineers must replicate the intricate processes of fetal development, including oxygen and nutrient exchange, waste removal, and hormonal signaling. Achieving this level of sophistication requires extensive research and development, pushing the limits of our current understanding of biology, robotics, and material science.

Safety and Health Concerns

Ensuring the safety and health of both the fetus and the mother in an artificial womb is of paramount importance. Any technical failure or oversight could lead to disastrous consequences. There are challenges in creating artificial environments that can mimic the womb's natural conditions, regulate various physiological processes, and respond to the evolving needs of a developing fetus. Additionally, there are concerns about the long-term health and psychological well-being of children gestated in artificial wombs.

Cost and Accessibility

The cost of developing and maintaining artificial womb facilities is considerable. This expense may limit access to this technology, creating disparities in reproductive healthcare. Ensuring equitable access for all individuals who may benefit from artificial wombs is a challenge that needs to be addressed in a fair and inclusive manner.

Social and Psychological Implications

The introduction of artificial wombs may have profound social and psychological implications. Questions about the role of traditional pregnancy and its cultural significance, the potential for increased societal pressure on women to use artificial wombs, and the effect on parent-child bonding are all issues that need careful consideration.

Public Perception and Acceptance

The public's acceptance and perception of artificial womb technology is a vital factor in its success. Market players need to engage in open and transparent communication to educate the public about the potential benefits and risks of this technology, and to gain the trust and support of society.

Key Market Trends

Technological Advancements

Technological advancements have played a pivotal role in transforming various aspects of our lives. In recent years, these advancements have extended their reach into the field of healthcare and, specifically, artificial womb technology. The development and adoption of artificial womb facilities are on the rise, driven by increasing technological innovations, which have the potential to revolutionize the way we care for premature babies and address various reproductive health challenges. The progress in biotechnology has led to significant breakthroughs in artificial womb technology. Biocompatible materials, improved incubation systems, and better understanding of fetal development have made it possible to create an environment that closely mimics the mother's womb. Artificial placenta systems have been developed to provide the necessary oxygen and nutrients to the developing fetus, effectively bypassing the need for a natural placenta. This breakthrough technology is a game-changer for the care of premature infants. Technological advancements have allowed for the miniaturization of components, making artificial womb facilities more compact and efficient. This portability can potentially enable care for premature infants in various healthcare settings.

Segmental Insights

Application Insights

Based on the category of Application, Neonatal Care emerged as the dominant player in the global market for Artificial Womb Facility in 2022. Proton Pump Inhibitors are a class of drugs that reduce the production of stomach acid by blocking the proton pump, which is responsible for the secretion of gastric acid in the stomach lining. Proton Pump Inhibitors have shown exceptional efficacy in reducing stomach acid, making them highly effective in treating peptic ulcers and related conditions. They help in the healing of ulcers and provide relief from the symptoms, including heartburn and indigestion. Proton Pump Inhibitors are generally well-tolerated and have fewer side effects compared to other classes of drugs used in peptic ulcer treatment. This has contributed to their widespread acceptance among patients. Proton Pump Inhibitors are available in various formulations, including oral capsules, tablets, and even intravenous options for more severe cases. This versatility in administration makes them suitable for a wide range of patients. In many countries, Proton Pump Inhibitors are available over the counter, making them easily accessible to patients without a prescription. This convenience further boosts their dominance in the market. Proton Pump Inhibitors are cost-effective both for patients and healthcare systems, making them an attractive option for long-term ulcer management and prevention.

End user Insights

The In-Vitro Fertilization Centers (IVF) segment is projected to experience rapid growth during the forecast period IVF is a well-established method to produce high-quality embryos. During an IVF cycle, eggs and sperm are combined in a controlled environment, and the resulting embryos are assessed for their health and genetic quality. These superior embryos are ideal candidates for transfer to artificial wombs, as they have a higher chance of successful development. Currently, gestational surrogacy is the primary alternative for individuals and couples who cannot carry a pregnancy. However, IVF eliminates the need for gestational surrogates in many cases. Instead, embryos can be transferred to an artificial womb, reducing ethical, legal, and emotional complexities associated with surrogacy arrangements. IVF centers serve as hubs for research and development in the field of assisted reproductive technologies. These facilities are often affiliated with research institutions and universities, which provides a unique advantage for artificial womb technology research. The shared knowledge and expertise accelerate progress in this field.


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Regional Insights

North America emerged as the dominant player in the global Artificial Womb Facility market in 2022, holding the largest market share in terms of value. North America is home to a robust ecosystem of research institutions, universities, and companies dedicated to advancing medical technology. This environment fosters cutting-edge research and development activities in the field of artificial womb technology. From prestigious institutions like the Massachusetts Institute of Technology (MIT) to leading healthcare corporations, the region has the resources and expertise to spearhead advancements in artificial womb facilities. The United States and Canada maintain regulatory frameworks that support innovation and the development of medical technologies. This fosters an environment in which researchers and companies can more easily navigate the complexities of bringing new medical devices, such as artificial womb facilities, to market. The Food and Drug Administration (FDA) in the United States, for instance, has been receptive to approving these technologies when they meet safety and efficacy standards.

Recent Developments

  • In September 2023, Advisers not affiliated with the US Food and Drug Administration convene to deliberate on matters pertaining to the rules, ethical considerations, and the potential of developing an artificial womb with the aim of improving the survival prospects of extremely premature infants, while minimizing any enduring health issues.

Key Market Players

  • American University of Beirut (AUB)
  • Biotex Inc.
  • California Preterm Birth Initiative
  • Emmaus Life Sciences, Inc.
  • Hebrew University
  • Institute of Life Sciences
  • Juno Perinatal Healthcare
  • Sera Prognostics, Inc.
  • Shanghai First Maternity and Infant Hospital
  • SomaGenics Inc.

By Technology

By Application

By End user

By Region

  • Bioreactors
  • Extrauter in Support Devices
  • Others
  • Prenatal Care
  • Neonatal Care
  • Super Specialty Hospitals
  • Research Centers
  • In-Vitro Fertilization Centers (IVF)
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Artificial Womb Facility Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Artificial Womb Facility Market, By Technology:

o   Bioreactors

o   Extrauter in Support Devices

o   Others

  • Artificial Womb Facility Market, By Application:

o   Prenatal Care

o   Neonatal Care

  • Artificial Womb Facility Market, By End user:

o   Super Specialty Hospitals

o   Research Centers

o   In-Vitro Fertilization Centers (IVF)

  • Artificial Womb Facility Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Artificial Womb Facility Market.

Available Customizations:

Global Artificial Womb Facility market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Artificial Womb Facility Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Artificial Womb Facility Market Outlook

4.1.  Market Size & Forecast

4.1.1.    By Value

4.2.  Market Share & Forecast

4.2.1.    By Technology (Bioreactors, Extrauter in Support Devices, Others)

4.2.2.    By Application (Prenatal Care, Neonatal Care)

4.2.3.    By End user (Super Specialty Hospitals, Research Centers, In-Vitro Fertilization Centers (IVF))

4.2.4.    By Region

4.2.5.    By Company (2022)

4.3.  Market Map

4.3.1.    By Technology

4.3.2.    By Application

4.3.3.    By End user

4.3.4.    By Region

5.    Asia Pacific Artificial Womb Facility Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Technology

5.2.2.    By Application

5.2.3.    By End user

5.2.4.    By Country

5.3.  Asia Pacific: Country Analysis

5.3.1.    China Artificial Womb Facility Market Outlook

5.3.1.1.        Market Size & Forecast

5.3.1.1.1.           By Value

5.3.1.2.        Market Share & Forecast

5.3.1.2.1.           By Technology

5.3.1.2.2.           By Application

5.3.1.2.3.           By End user

5.3.2.    India Artificial Womb Facility Market Outlook

5.3.2.1.        Market Size & Forecast

5.3.2.1.1.           By Value

5.3.2.2.        Market Share & Forecast

5.3.2.2.1.           By Technology

5.3.2.2.2.           By Application

5.3.2.2.3.           By End user

5.3.3.    Australia Artificial Womb Facility Market Outlook

5.3.3.1.        Market Size & Forecast

5.3.3.1.1.           By Value

5.3.3.2.        Market Share & Forecast

5.3.3.2.1.           By Technology

5.3.3.2.2.           By Application

5.3.3.2.3.           By End user

5.3.4.    Japan Artificial Womb Facility Market Outlook

5.3.4.1.        Market Size & Forecast

5.3.4.1.1.           By Value

5.3.4.2.        Market Share & Forecast

5.3.4.2.1.           By Technology

5.3.4.2.2.           By Application

5.3.4.2.3.           By End user

5.3.5.    South Korea Artificial Womb Facility Market Outlook

5.3.5.1.        Market Size & Forecast

5.3.5.1.1.           By Value

5.3.5.2.        Market Share & Forecast

5.3.5.2.1.           By Technology

5.3.5.2.2.           By Application

5.3.5.2.3.           By End user

6.    Europe Artificial Womb Facility Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Technology

6.2.2.    By Application

6.2.3.    By End user

6.2.4.    By Country

6.3.  Europe: Country Analysis

6.3.1.    France Artificial Womb Facility Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Technology

6.3.1.2.2.           By Application

6.3.1.2.3.           By End user

6.3.2.    Germany Artificial Womb Facility Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Technology

6.3.2.2.2.           By Application

6.3.2.2.3.           By End user

6.3.3.    Spain Artificial Womb Facility Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Technology

6.3.3.2.2.           By Application

6.3.3.2.3.           By End user

6.3.4.    Italy Artificial Womb Facility Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Technology

6.3.4.2.2.           By Application

6.3.4.2.3.           By End user

6.3.5.    United Kingdom Artificial Womb Facility Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Technology

6.3.5.2.2.           By Application

6.3.5.2.3.           By End user

7.    North America Artificial Womb Facility Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Technology

7.2.2.    By Application

7.2.3.    By End user

7.2.4.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Artificial Womb Facility Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Technology

7.3.1.2.2.           By Application

7.3.1.2.3.           By End user

7.3.2.    Mexico Artificial Womb Facility Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Technology

7.3.2.2.2.           By Application

7.3.2.2.3.           By End user

7.3.3.    Canada Artificial Womb Facility Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Technology

7.3.3.2.2.           By Application

7.3.3.2.3.           By End user

8.    South America Artificial Womb Facility Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Technology

8.2.2.    By Application

8.2.3.    By End user

8.2.4.    By Country

8.3.  South America: Country Analysis

8.3.1.    Brazil Artificial Womb Facility Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Technology

8.3.1.2.2.           By Application

8.3.1.2.3.           By End user

8.3.2.    Argentina Artificial Womb Facility Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Technology

8.3.2.2.2.           By Application

8.3.2.2.3.           By End user

8.3.3.    Colombia Artificial Womb Facility Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Technology

8.3.3.2.2.           By Application

8.3.3.2.3.           By End user

9.    Middle East and Africa Artificial Womb Facility Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Technology

9.2.2.    By Application

9.2.3.    By End user

9.2.4.    By Country

9.3.  MEA: Country Analysis

9.3.1.    South Africa Artificial Womb Facility Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Technology

9.3.1.2.2.           By Application

9.3.1.2.3.           By End user

9.3.2.    Saudi Arabia Artificial Womb Facility Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Technology

9.3.2.2.2.           By Application

9.3.2.2.3.           By End user

9.3.3.    UAE Artificial Womb Facility Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Technology

9.3.3.2.2.           By Application

9.3.3.2.3.           By End user

10. Market Dynamics

10.1.             Drivers

10.2.             Challenges

11. Market Trends & Developments

11.1.             Recent Developments

11.2.             Product Launches

11.3.             Mergers & Acquisitions

12. Global Artificial Womb Facility Market: SWOT Analysis

13. Porter’s Five Forces Analysis

13.1.             Competition in the Industry

13.2.             Potential of New Entrants

13.3.             Power of Suppliers

13.4.             Power of Customers

13.5.             Threat of Substitute Product

14. Competitive Landscape

14.1.         American University of Beirut (AUB)

14.1.1.         Business Overview

14.1.2.          Company Snapshot

14.1.3.          Product & Services

14.1.4.          Current Capacity Analysis

14.1.5.          Financials (In case of listed)

14.1.6.          Recent Developments

14.1.7.          SWOT Analysis

14.2.   Biotex Inc.

14.3.   California Preterm Birth Initiative

14.4.   Emmaus Life Sciences, Inc.

14.5.   Hebrew University

14.6.   Institute of Life Sciences

14.7.   Juno Perinatal Healthcare

14.8.   Sera Prognostics, Inc.

14.9.   Shanghai First Maternity and Infant Hospital

14.10.SomaGenics Inc.

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Artificial Womb Facility Market was estimated to be USD 271.32 million in 2022.

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The Global Artificial Womb Facility Market was analyzed for the historical period of 2018 to 2021. While the base year was 2022, estimation for the year 2023 was calculated and the market growth was further forecast for 2024 to 2028.

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American University of Beirut (AUB), Biotex Inc., California Preterm Birth Initiative, Emmaus Life Sciences, Inc., Hebrew University, Institute of Life Sciences, Juno Perinatal Healthcare, Sera Prognostics, Inc., Shanghai First Maternity and Infant Hospital, SomaGenics Inc. are the top players operating in the Global Artificial Womb Facility Market in 2022.

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Reduction in maternal mortality and rising preterm birth rates are the major drivers for the Global Artificial Womb Facility Market.

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Sakshi Bajaal

Business Consultant
Press Release

Artificial Womb Facility Market to Grow with a CAGR of 7.25% through 2028

Jan, 2024

Reduction in maternal mortality and rising preterm birth rates are factors driving the Global Artificial Womb Facility Market in the forecast period 2024-2028.