In Vitro Fertilization Market Size projected to grow at a healthy CAGR of 9.0% during the forecast period
The In Vitro Fertilization Market Size is projected to grow at a rate of 9% CAGR during the forecast period of 2022 to 2032, with an estimated value of US$ 990 Mn by 2026.
Rising reprotourism and increasing incidences of male and female infertility are two key factors driving in vitro fertilization/IVF market growth. Infertility is a critical health problem that affects people from around the world.
According to the American Pregnancy Association, male infertility accounts for 30% of infertility cases and leads to about one-fifth of infertility cases. The market will rise as people become more dependent on fertility treatments. The growing use of in vitro fertilization (IVF) techniques is being influenced by the availability of resources.
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The emergence of the COVID-19 pandemic prompted the cessation of fertility treatments, which had a psychological impact on the women who had their treatments discontinued. Treatment clinics are now allowed to resume treatments under the condition that they observe stringent requirements.
Culture medium, capital equipment, and IVF disposable devices make up the in vitro fertilization instrument. In 2020, culture media dominated the in vitro fertilization/IVF market and accounted for a large portion of the income. The availability of money and an increase in research initiatives to improve the culture media were credited with in vitro fertilization/IVF market expansion.
The disposable devices market, on the other hand, is predicted to increase at the quickest rate over the projection years, as the in vitro fertilization/IVF market participants provide disposable devices such as needles, slides, and chambers to fulfil sterility and regulatory criteria.
The sector of fertility clinics led the global the in vitro fertilization/IVF market, accounting for the majority of revenue. Throughout the projected period, the category is expected to maintain its leading the in vitro fertilization/IVF market position while increasing at the highest rate.
The rise of fertility clinics is expected to be fuelled by factors such as cost-effectiveness, availability of experts, and little or no risk of Hospital-Acquired Infections (HAIs). IVF procedures are also carried out in hospitals.
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In 2020, the frozen non-donor segment dominated the global in vitro fertilization/IVF market. However, in 2020, the fresh non-donor sector had the second-highest revenue in vitro fertilization/IVF. The significant proportion of this category is due to the higher success percentage on the first try.
Some of the in vitro fertilization/IVF market’s latest advancements include disposable slides for sperm counting, an imaging-based monitoring system to extract the best motile sperm, and the usage of disposable microchips.
During the projection period, Asia-Pacific is expected to be the fastest-growing in vitro fertilization/IVF market. The in vitro fertilization/IVF market is being driven by several causes, including rising ovulation disorders in women, rising trends in assisted reproduction technologies, and rising rates of infertility. In addition, government programmes for fertility therapy are projected to provide in vitro fertilization/IVF market development opportunities.
Key Takeaways:
- In 2020, culture media dominated the in vitro fertilization/IVF market, accounting for more than 41% of total sales.
- In 2020, Europe dominated the worldwide in vitro fertilization/IVF marketwith a revenue share of about 37%.
- In 2020, the frozen non-donor category accounted for more than 47% of the total in vitro fertilization/IVF market
- In 2020, the fertility clinics sector led the global in vitro fertilization/IVF market, accounting for more than 79% of total revenue.
Competitive landscape:
CooperSurgical, Inc., Vitrolife AB, Thermo Fisher Scientific Inc., Merck KGaA, and Fujifilm Holdings Corp. are some of the major competitors in the in vitro fertilization/IVF market. These in vitro fertilization/IVF market participants use a variety of marketing techniques to grow their in vitro fertilization/IVF market share, including mergers and acquisitions, product launches, and regional expansion.
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Key Segments
By Product:
- Equipment
- Reagents and Media
By Cycle:
- Fresh non-donor cycle
- Frozen non-donor IVF cycle
- Frozen donor IVF cycle
- Fresh donor IVF cycle
By End User:
- Fertility Clinics
- Hospitals & Surgical Centers
- Cryobank and Research Institutes
By Type:
- Conventional IVF
- IVF with ICSI
- IVF with Donor Eggs
By Region:
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
- Europe
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