The In Vitro Fertilization Market Demand is expected to develop at a 9% CAGR from 2022 to 2032, with an estimated value of US$ 1.6 billion by 2032.
Rising reprotourism and rising male and female infertility rates are two major factors driving in vitro fertilization/IVF industry growth. Infertility is a serious health issue that affects people all around the world.
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According to the American Pregnancy Association, male infertility accounts for 30% of all infertility cases and accounts for around one-fifth of all infertility cases. As people become increasingly reliant on fertility treatments, the industry will expand. The increasing usage of in vitro fertilisation (IVF) procedures is impacted by resource availability.
The onset of the COVID-19 pandemic resulted in the discontinuation of fertility treatments, which had a psychological impact on the women who were affected. Treatment facilities are now permitted to resume treatments as long as they adhere to strict guidelines.
The in vitro fertilisation instrument is made up of culture medium, capital equipment, and IVF disposable devices. Culture media dominated the in vitro fertilization/IVF market in 2020, accounting for a major share of the revenue. The availability of funds and an increase in research projects to improve culture media were credited with the expansion of the in vitro fertilization/IVF market.
The disposable devices market, on the other hand, is expected to grow at the fastest rate over the forecast years, as participants in the in vitro fertilization/IVF market provide disposable equipment such as needles, slides, and chambers to meet sterility and regulatory criteria.
The fertility clinic industry dominated the global in vitro fertilization/IVF market, accounting for the majority of revenue. Throughout the forecast period, the category is likely to continue its market leadership in in vitro fertilization/IVF while growing at the fastest rate.
The expansion of fertility clinics is predicted to be fueled by factors such as cost-effectiveness, expert availability, and a low or no risk of Hospital-Acquired Infections (HAIs). In hospitals, IVF procedures are also performed.
The frozen non-donor sector will dominate the global in vitro fertilization/IVF market by 2020. However, the non-donor sector generated the second-highest income in vitro fertilization/IVF in 2020. The high success rate on the first try accounts for the substantial proportion of this category.
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Disposable slides for sperm counting, an imaging-based monitoring system to retrieve the best motile sperm, and the use of disposable microchips are some of the most recent innovations in the in vitro fertilization/IVF sector.
Asia-Pacific is predicted to be the fastest-growing in vitro fertilization/IVF market over the forecast period. Several factors are driving the in vitro fertilization/IVF business, including increased ovulation abnormalities in women, expanding tendencies in assisted reproduction technologies, and rising incidence of infertility. Furthermore, government fertility therapy initiatives are expected to give chances for in vitro fertilization/IVF market development.
Key Takeaways:
- Culture media led the IVF/IVF market in 2020, accounting for more than 41% of total sales.
- With a revenue share of approximately 37% in 2020, Europe dominated the global in vitro fertilization/IVF market.
- The frozen non-donor category was responsible for more than 47% of total in vitro fertilization/IVF market sales in 2020.
- Fertility clinics lead the global in vitro fertilization/IVF market in 2020, 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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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