Wilmington, Delaware, Nov. 05, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “India In-Vitro Fertilization (IVF) Services Market by Gender (Female Infertility, Male Infertility, and Others), Procedure (Intracytoplasmic Sperm Injection (ICSI-IVF), Non-ICSI-IVF, and Intrauterine Insemination (IUI), Cycle Type, (Fresh Cycle (Non-Donor), Thawed Cycle (Non-Donor), and Donor Egg IVF cycle) End User (Fertility Clinics, Hospitals, Surgical Centers, and Clinical Research Institutes) and Offering (IVF Drugs, IVF Media & Reagents and IVF and IUI Services): Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the India in-vitro fertilization (IVF) services market was valued at $0.8 billion in 2022 and is projected to reach $4.6 billion by 2032, registering a CAGR of 18.08% from 2023 to 2032.
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Prime Determinants of Growth
The growth of the India in-vitro fertilization (IVF) services market is driven by several factors such as the increase in the number of infertility cases, which is leading to a higher demand for effective treatments. In addition, the rise in technological advancements and rise in adoption of IVF procedures drives the market growth.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $0.8 billion |
| Market Size in 2032 | $4.6 billion |
| CAGR | 18.08% |
| No. of Pages in Report | 139 |
| Segments covered | by gender, procedure, cycle type, end user and offering. |
| Drivers | Increase in infertility rates Technological advancements in IVF Rise in gamete donations |
| Opportunities | Rise in fertility tourism |
| Restraints | Complications associated with IVF treatment Ethical and legal issues |
Covid-19 Scenario
- The COVID-19 pandemic significantly impacted the India in-vitro fertilization (IVF) services market owing shutdowns in various COVID-19 affected countries and rise in number of healthcare workers falling ill in the pandemic.
- However, the market is growing post-pandemic period owing to an increase infertility cases, and furthermore growing number of fertility clinics is anticipated to drive the market growth during the forecast period.
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The female infertility segment to maintain its leadership status throughout the forecast period
Based on gender, the female infertility segment held the largest share in 2022, accounting for more than half of the India in-vitro fertilization (IVF) services market revenue and is estimated to be the fastest growing segment during the forecast period. This growth is attributed to increase in prevalence of female infertility due to multiple medical conditions such as age, fibroid development, endometriosis, polycystic ovarian syndrome, ovulation disorders, damage associated with fallopian tubes, uterus, and problems associated with the cervix.
The ICSI IVF segment to maintain its lead position during the forecast period
Based on procedure, the ICSI IVF segment held the largest share in 2022, accounting for half of the India in-vitro fertilization (IVF) services market revenue and is estimated to be the fastest growing segment during the forecast period. This growth is attributed benefits associated with ICSI-IVF technique such as better fertilization and minimization of multi-nucleation since only one sperm and one egg is involved in this technique as well as there is no acrosome reaction taking place in this technique.
The fresh IVF cycles segment to maintain its lead position during the forecast period
Based on cycle type, the fresh IVF cycles segment accounted for the largest share in 2022, accounting for nearly two-thirds of the India in-vitro fertilization (IVF) services market revenue. The growth is attributed to improved success rates of fresh cycle IVF treatments. Moreover, fresh cycle IVF treatments offer greater flexibility, as they allow for multiple attempts if the first cycle is not successful, without the need for additional costly freezing and storage procedures.
However, the thawed IVF cycles segment is projected to manifest the highest CAGR of 20% from 2023 to 2032, owing to increasing use of cryopreservation techniques, combined with the advantages of flexibility, comparable success rates, cost-effectiveness, and fertility preservation.
The fertility clinics segment to maintain its lead position during the forecast period
Based on end user, the fertility clinics segment held the largest share in 2022, accounting for almost three-fifths of the India in-vitro fertilization (IVF) services market revenue and is estimated to be the fastest growing segment during the forecast period. This growth is attributed to the availability of multiple fertility clinics. In addition, fertility clinics are specialized centers equipped with advanced technology and skilled medical professionals, offering a comprehensive range of fertility services, including in vitro fertilization (IVF), intrauterine insemination (IUI), egg freezing, and gamete donation. Furthermore, the success rates of fertility clinics have also improved over the years due to advancements in technology and treatment protocols, thus boosting their reputation and attracting more patients.
The IVF and IUI services segment to maintain its lead position during the forecast period
Based on offering, the IVF and IUI services segment held the largest share in 2022, accounting for almost three-fourths of the India in-vitro fertilization (IVF) services market revenue and is estimated to be the fastest growing segment during the forecast period. This growth is attributed to rise in infertility cases among men and women. In addition, the growing awareness and acceptance of assisted reproductive technologies (ART) also contributes to the dominance of this segment. As more people become aware of these advanced fertility treatments and their high success rates, the demand for IVF and IUI services rises.
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Leading Market Players: -
- ART Fertility Clinics
- Morpheus Life Sciences Pvt. Ltd.
- Bloom Fertility Centre
- Indira IVF Hospital Private Limited
- Iswarya Fertility Centers
- Nova IVF Fertility
- Gunasheela Fertility Center
- Chennai Fertility Centre
- Craft Hospital & Research Centre
- Bavishi Fertility Institute
The report provides a detailed analysis of these key players of the India in-vitro fertilization (IVF) services market. These players have adopted strategies such as business expansion, to increase their market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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