Europe In Vitro Fertilization Market Expected to Reach $4,447 Million, by 2022
Pune, Maharashtra, India, September 29 2020 (Wiredrelease) Allied Analytics –: Europe In Vitro Fertilization (IVF) Market Report, published by Allied Market Research, forecasts that the European market was valued at $3,054 million in 2015 and is expected to reach $4,447 million by 2022, growing at a CAGR of 5.4% from 2016 to 2022. The fresh cycle (non-donor) segment accounted for more than three-fourths market share in 2015 and is expected to maintain its dominance during the forecast period.
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The IVF market in Europe is characterized by factors such as lower fertility rates, delayed marriages, and late parenthood decisions. Subsidization of IVF treatments in Germany owing to the lowest birthrate of ~1.46 children/women is a major driving factor for the growth of this market. In addition, the National Health Plan (NHP) covers about 50% of the total treatment cost and pays for three IVF cycles, which is expected to boost the IVF market, especially in Germany. However, lack of reimbursements and high cost of the procedure limit the growth of the European IVF market.
The IVF market in Europe is anticipated to witness a continued stable growth, mainly in France, Germany, and UK. This is due to supportive regulations such as Human Fertilization and Embryo authority (HFEA) of UK, which closely regulate the functioning of IVF treatments and research in UK.
France accounted for the largest number of IVF cycles per year in 2015, whereas UK is expected to grow at the highest CAGR, in terms of volume and value. Spain is expected to be the largest contributor to overall regions revenue, growing at a CAGR of 6.1%, owing to increase in fertility tourism and high success rates for treatments provided.
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Europe IVF Market Key Findings
Fertility clinics segment is projected to grow at the highest CAGR during the forecast period.
UK is expected possess the highest growth rate in the European IVF market, growing at a CAGR of 7.7%, in terms of revenue.
In 2015, EU5 (Germany, France, UK, Spain, and Italy) collectively accounted for approximately three-fifths share of the market volume.
Fresh cycle (non-donor) segment is expected be the highest revenue-generating segment, followed by thawed IVF cycle (non-donor) segment.
Thawed IVF cycle (non-donor) segment is projected to grow at the highest CAGR of 7.2%, in terms of volume in Denmark.
The companies profiled in this report include Thermo Fisher Scientific, Inc., DRK Kliniken Berlin, Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., LG Life Sciences, and EMD Serono Inc.
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