The global in vitro fertilization market is poised for significant growth in the coming years. According to recent projections, the market is expected to attain a valuation of USD 819.8 million by 2024 and is set to expand at an impressive compound annual growth rate (CAGR) of 9% from 2024 to 2034. By the end of this forecast period, the IVF industry is anticipated to reach a value of USD 1,940.8 million.
Key Drivers of Growth: Rising Infertility Rates:
The projected surge in the IVF market can be attributed to the increasing prevalence of infertility worldwide. A range of factors, including lifestyle changes, delayed pregnancies, rising stress levels, and environmental influences, have contributed to a noticeable rise in infertility cases. In response to this growing demand, the IVF industry is witnessing a significant increase in research and technological advancements, enhancing the success rates and accessibility of fertility treatments.
Innovative Solutions to Meet Growing Demand:
The IVF industry is rapidly evolving, with cutting-edge solutions designed to cater to diverse needs. Advances in genetic screening, minimally invasive techniques, and personalized treatment options are making IVF more accessible and effective than ever before. This wave of innovation is expected to further boost market growth, attracting investments and fostering new partnerships within the healthcare sector.
Opportunities for Stakeholders:
The projected expansion of the IVF market presents a wealth of opportunities for stakeholders, including healthcare providers, fertility clinics, pharmaceutical companies, and medical device manufacturers. As the market grows, there will be a heightened demand for advanced diagnostic tools, fertility drugs, and supportive healthcare services, making it an opportune time for businesses to invest in this dynamic field.
Regional Outlook:
North America is the most significant in the global in vitro fertilization market over the forecast period. Standardization of techniques through policy shifts, automation, government investments for egg or sperm storage, and the emergence of IVF therapies by providers are significant stimuli aiding the market growth in North America.
Europe’s in vitro fertilization (IVF) market possesses the second spot in terms of share because of the accessibility of advanced treatment clinics, government support for IVF growth, and skilled medical professionals. The German sector reigned the top spot, and the United Kingdom industry emerged as a swiftly widening sector in the European region.
Asia Pacific has a potential for notable CAGR from 2024 to 2034 and exhibits an attractive potential for future growth of the in vitro fertilization market. This is credited to the populous region, swiftly dropping fertility rates, ascending government plans for women, an inclination towards careers over family, and thriving knowledge of fertility clinics and processes. The heightening recognition in the people of IVF treatments, escalating healthcare costs, and surging usage of modern reproductive procedures in the Asia Pacific are the key catalysts of the IVF sector, igniting enthusiasm regarding the unrecognized potential.
“The IVF market persistently demonstrates sturdy growth advanced by ascending infertility rates and innovations in reproductive application. With widening access to IVF facilities, the industry is slated for encouraged growth in the forthcoming years.”, remarks an analyst at FMI.
Surge in Market Demand: Explore Comprehensive Trends and Analysis in Our Full Report!
Key Takeaways:
- The equipment product type category to seize a share of 44.20% in 2024.
- In the cycle category, the fresh non-donor cycle segment to obtain a share of 38.60% in 2024.
- China in vitro fertilization (IVF) market exhibit upsurge at CAGR of 16.80% between 2024 and 2034.
- Spain IVF sales indicate a CAGR of 13.50% through 2034.
- Japan in vitro fertilization market implies expansion at a CAGR of 12.50% through 2034.
- Italy IVF industry imply augmentation at a CAGR of 12.00% between 2024 and 2034.
- From 2024 to 2034, Australia and New Zealand in vitro fertilization industry equates at a CAGR of 12.00%.
- Through 2034, Canada IVF market show escalation at a CAGR of 11.00%.
- France IVF industry indicates a CAGR of 10.80% through 2034.
- Germany in vitro fertilization sector indicates a CAGR of 9.00% through 2034.
- The United Kingdom IVF sector reflects expansion between 2024 and 2034 at a CAGR of 9.80%.
- Through 2034, India in vitro fertilization (IVF) market advances at a CAGR of 9.70%.
- Between 2024 and 2034, the United States in vitro fertilization (IVF) industry imply growth at a CAGR of 8.20%.
Competitive Landscape:
The industry is merged in nature because of the proximity of numerous in vitro fertilization (IVF) providers functioning globally and locally. The essential IVF vendors are embracing essential strategic initiatives like mergers, acquisitions, collaborations, and product launches to acquire their position in the industry.
Noteworthy Developments:
- Boston IVF, based in the United States, authored a 3 years distribution network solutions contract with Cryoport, Inc. in April 2023 to encourage reproductive product shipment in the United States.
- In May 2023, Merck KGaA, heaquartered in Germany, a chief in medical management and life sciences, launched a pioneering solution, Fertility Counts. This progressive approach is made to address the economic, communal, and social problems linked with low birth rates in the Asia Pacific, instigating hope for a positive future.
- Progyny, Inc., set up in the United States and Quantum Health, Inc. got into a collaboration agreement in June 2023 to roll out Quantum Health’s Comprehensive Care Solutions platform for family-making and fertility solutions.
- In June 2023, FUJIFILM Irvine Scientific, Inc., rooted in the United States, made efforts to increase its Presagen’s Life Whisperer platform proficiencies to aid with clinical administration in IVF.
Prominent In Vitro Fertilization Providers:
- Vitrolife
- Thermo Fisher Scientific Inc.
- Cook Group
- IVFtech ApS
- Esco Micro
- Genea Limited
- Fujifilm Irvine Scientific
- The Baker Company
- Kitazato Corporation
Key Segments:
By Product:
The market is classified based on equipment, reagents & media, and accessories.
By Cycle:
The segment is categorized based on fresh non-donor cycle, frozen non-donor IVF cycle, frozen donor IVF cycle, and fresh donor IVF cycle.
By End-user:
The report consists of key end-users based on fertility clinics, hospitals & surgical centers, and cryobank & research institutes.
By Type:
The market is classified into conventional IVF, IVF with ICSI, and IVF with donor eggs.
By Region:
Analysis of the in vitro fertilization market has been carried out in key countries of North America, Latin America, Middle East and Africa, Asia Pacific, and Europe.
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