Between 2020 and 2023, the compound annual growth rate of the domestic assisted reproduction market is expected to reach 14.5 percent. By 2023, sales are foreseen to reach 49.6 billion yuan, according to a forecast by Guoyuan International Holdings Ltd.

Such forecasts are driving the future plans of enterprises such as Jinxin Fertility Group Ltd, a Chengdu-based and Hong Kong-listed company that provides assisted reproductive services in China.

Jinxin Fertility Group provides services like artificial insemination and in vitro fertilization (IVF). IVF accounts for a larger part of its business. Besides, it provides nutritional guidance and psychological counseling services to support the assisted reproductive business, the company said.

It owns and operates Chengdu Xinan Gynecology Hospital and Shenzhen Zhongshan Urology Hospital, and jointly manages the IVF center of Chengdu Jinjiang District Maternity and Child Health Hospital.

Last year, the number of IVF treatment cycles at Jinxin Fertility reached 22,879. It also offers its services in the United States where much of the demand for its services comes from the West Coast, it said.

The company also said the third-child policy and the implementation of attendant supporting measures are expected to help create more business growth opportunities for the assisted reproductive services sector.

"It has been less than two months since China announced its new third-child policy. A pronounced effect is yet to be discerned. In the long term, however, the policy is expected to promote population growth to a certain extent in China," said Jinxin Fertility in a written reply in July.

"Among those women who are willing to get pregnant, some of them are in a higher age range. As fertility rate declines with age, it's likely that more people may seek assisted reproductive services. With the strengthening of national supervision of the application of assisted reproductive technology, the sector barriers will also continue to rise."

In addition, the third-child policy is expected to have a long-term impact on some other related sectors, such as pharmaceuticals, biotech, food and beverage, textiles and clothing.

The potential growth in the number of newborns is expected to help expand the market scale of infant formulas, toys, car seats, strollers and other maternity and baby goods, and would be favorable to the development of those sectors, Lead-Leo said.

Maternity and infant goods consumption sectors are likely to continue finding favor with investors. Those sectors include medical examination equipment and medicines that help with pregnancy preparation; infant and baby food, supplements and diapers; children's consumption areas like toys, clothes, animations and education.

For instance, on the day the third-child policy was announced, stock markets in Shanghai, Shenzhen, Guangdong province, and Hong Kong cheered the news with a big thumbs-up.

Shares of children's products maker Goodbaby surged as much as 31 percent in Hong Kong, while those of infant formula maker Beingmate rose 8 percent in Shenzhen.

Similarly, Jinxin Fertility climbed 18 percent. Suzhou Basecare Medical Co, which provides genetic testing for couples looking to undergo IVF, soared 15 percent, while Aidigong Maternal & Child Health spiked 22 percent. Goldlok Holdings, which makes dolls and electric trains, increased 10 percent and clothing maker Lancy rose 7 percent.

Besides, apartment and car retailers may see higher demand from enlarging families wishing to upgrade to roomier flats and multipurpose vehicles, according to a research report from Ping An Securities.

Last year, about 930,000 maternity and baby product makers newly registered their businesses in China, up 52 percent year-on-year, indicating fierce competition in the market, according to Tianyancha, a business information provider.