In Vitro Fertilization Market

Global In Vitro Fertilization Market

In Vitro Fertilization Market - By Product, Cycle, Type, End User and Region.

Market Synopsis:

The Global In Vitro Fertilization Market is valued at USD 670.06 Million in the year 2022 and is anticipated to reach a value of USD 1296.47 Million by the year 2030. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 8.60% over the forecast period.

In Vitro Fertilization (IVF) is a type of assisted reproductive technology (ART) that involves extracting eggs from a woman's ovaries and fertilizing them with sperm in a laboratory setting. The procedure entails activating a woman's ovulatory system, extracting an ovum from her ovaries, and fertilizing the ovum with sperm in a laboratory liquid. IVF is one of the most commonly used procedures to help couples with infertility concerns, which is a major component driving the worldwide IVF services market. The global In Vitro Fertilization services market is expected to develop significantly throughout the projected period, owing to an increase in the rate of infertility, an increase in the trend of delayed pregnancies, a jump in IVF success rates, and an increase in disposable income globally. However, the high cost and problems associated with IVF therapy, as well as poor awareness of IVF in underdeveloped regions, are impeding the market's expansion. In contrast, an increase in fertility tourism, an increase in the number of reproductive clinics, and lower IVF costs in developing nations compared to industrialized ones are predicted to provide lucrative market expansion potential.

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Furthermore, infertility clinics are seeing an increase in the number of older women seeking aid as the social landscape changes. Complications in pregnancy and labor become more likely as people get older. A woman over the age of 35 is 2.5 times more likely than a woman under the age of 35 to have a miscarriage or stillbirth, while a woman over the age of 40 is more than five times more likely to have a miscarriage or stillbirth than a woman under the age of 35. One of the key challenges for the IVF business is the falling success rates of IVF treatment procedures in patients as they get older.

Market Segmentation:

The In Vitro Fertilization Market is segmented on the basis of product, cycle, type, and end-user. Based on product, the market is segmented as Equipment, Reagents & Media, and Accessories. Based on cycle, the market is segmented as Fresh Non-donor, IVF Cycles, Frozen Non-donor IVF Cycles, Frozen Donor IVF Cycles, and Fresh Donor IVF Cycle. Based on type, the market is segmented as Conventional IVF, IVF with ICSI, IVF with Donar Eggs, and Others. Based on End-User, the market is segmented as Fertility Clinics, Hospitals & Surgical Centers, Cryobanks, and Research Institutes.

Based on End-Users:

Depending on the end user, the market for In Vitro Fertilization service market is segmented into as Fertility Clinics, Hospitals & Surgical Centers, Cryobanks, and Research Institutes. During the forecast period, the research institutions segment is expected to increase the most. This is due to the fact that research institutes do the majority of research on fertility problems and related treatments, including IVF. Furthermore, technological advancements in IVF devices and services are a major driver of the IVF research institutions segment's growth. Fertility clinics and specialist hospitals, on the other hand, play a critical role in offering IVF treatments to couples seeking help with infertility. Furthermore, the availability of a wide range of fertility treatments under one roof, as well as government reimbursements, is a major driver of the fertility clinic segment's growth.

Based on Cycle:

In 2021, the frozen non-donor sector led the market IVF, accounting for 47 percent of total sales. Over the projected period, this segment is expected to increase at the fastest rate. The procedure's cost-effectiveness when compared to fresh non-donor and the procedure's less-invasive nature are two elements that contribute to the high share. Furthermore, the fresh non-donor sector had the second-highest revenue share.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

The market for IVF in Asia Pacific is expected to grow at the quickest rate. Fertility tourism, more foreign investment to penetrate economically emerging countries, and a shifting regulatory landscape are projected to drive up demand for IVF therapy in the Asia Pacific area. Infertility has become more common as a result of changes in lifestyles, such as an increase in obesity and stress, a lack of exercise, poor eating habits, a lack of nutrition, and increasing pollution, as well as the prevalence of medical problems such as diabetes. However, Infertility treatment demand is predicted to rise in North America in the future years. Automation of operations, regulatory reforms, government financing for egg/sperm preservation, and the introduction of additional IVF treatments by industry players are some of the primary drivers driving the IVF market in North America forward.

Competitive Landscape:

The key players in the Global In Vitro Fertilization Market include- The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific Inc. (US), Esco Micro PTE. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company Inc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), Fertipro NV (Belgium), Gynotec B.V. (Netherlands) and others.

Segmentation of the Global In Vitro Fertilization Market: