Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "GCC In-Vitro Fertilization Market By Technique (ICSI IVF, Non-ICSI/Traditional IVF), By Reagent, By Instruments, By Infertility, By Embryo, By Application, By End-User and By Country, Competition, Forecast, and Opportunities, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The GCC in-vitro fertilization (IVF) market, which was valued at USD 993.05 million in 2022, is projected to witness substantial growth with a Compound Annual Growth Rate (CAGR) of 6.75% during the forecast period.
This growth trajectory is primarily attributed to the increasing prevalence of male and female infertility, coupled with the rise in reproductive tourism across the region. Factors such as enhanced funding, escalated research endeavors to refine culture media, and the introduction of disposable IVF devices by industry players further contribute to the market expansion.
Additionally, the adoption of disposable IVF devices and the surge in demand for Assisted Reproductive Technology (ART) treatments are expected to drive the GCC in-vitro fertilization market's growth over the forecast years.
Factors Driving Market Growth:
- Reproductive Tourism and Accessibility: The GCC region is becoming a prominent destination for international patients seeking IVF treatments due to its cost-effectiveness and advanced medical technology. This influx of patients, seeking high-quality and affordable treatments, bolsters the demand for IVF services in the region, thus driving market growth.
- Rising Cases of Male and Female Infertility: Lifestyle changes, such as sedentary habits, obesity, stress, and poor dietary habits, have led to a surge in infertility rates across the region. This trend amplifies the demand for fertility treatments, especially IVF, as a solution, contributing to market expansion.
- Government Support and Infrastructure: Supportive government policies and investments in modern healthcare infrastructure have facilitated the expansion of IVF services. Subsidies for fertility treatments, coupled with improved healthcare facilities, have made IVF services more accessible, thus propelling market growth.
- Technological Advancements: Ongoing advancements in IVF technology, including techniques like preimplantation genetic testing and time-lapse imaging, have improved the efficiency and success rates of IVF procedures. The adoption of cutting-edge technology makes IVF a more reliable and attractive option for patients, driving market growth.
Growing Demand for ART Treatments:
ART treatments, including IVF, are witnessing a rising demand, driven by factors such as delayed childbearing due to changing social and cultural norms. Couples are increasingly focusing on personal and professional development, resulting in delayed attempts at conception. This shift, combined with factors such as age-related fertility decline and lifestyle influences, leads to more couples seeking IVF as a viable solution.
Government Initiatives and Healthcare Infrastructure:
Supportive government initiatives and investments in advanced healthcare infrastructure have played a pivotal role in the growth of the GCC in-vitro fertilization market. Governments in the region have implemented policies and provided financial assistance to couples seeking fertility treatments. Improved infrastructure ensures the availability of state-of-the-art IVF clinics, enhancing the accessibility and quality of IVF services.
Advancements in IVF Technology:
Innovations in IVF technology are driving market growth by improving treatment outcomes and patient experiences. Techniques like embryo vitrification and personalized treatment plans based on individual medical history have led to higher success rates and personalized care, making IVF more appealing to potential patients.
Reproductive Tourism Boosts the Market:
Medical tourism, fueled by the GCC's reputation for advanced IVF treatments, is a key growth factor. International patients seeking affordable, high-quality fertility treatments contribute to the demand for IVF services in the region. This trend not only enhances healthcare facilities but also boosts related industries like travel and hospitality, contributing to economic growth.
Market Segmentation:
Technique:
- ICSI IVF
- Non-ICSI/Traditional IVF
Reagent:
- Embryo Culture Media
- Cryopreservation Media
- Sperm Processing Media
- Ovum Processing Media
Instruments:
- Imaging Systems
- Sperm Separation Systems
- Ovum Aspiration Pumps
- Incubators
- Micromanipulator Systems
- Cryo-systems
- Others
Infertility:
- Female
- Male
Embryo:
- Frozen-Thawed Embryo
- Fresh Embryo
Application:
- Fertility Clinics
- Hospitals
- Others
End-User:
- Locals
- Expats
- Medical Tourists
Country:
- Saudi Arabia
- UAE
- Oman
- Kuwait
- Qatar
- Bahrain
Prominent Companies:
- HealthPlus Fertility & Women's Health Center
- King Faisal Specialist Hospital and Research Center (KFSH&RC)
- Thuriah Medical Center
- Fakih IVF Fertility Center
- ART Fertility Clinics
- New Hope IVF
- AlReem Medical Center
- Wara Hospital
- Royale Hayat Hospital
- Quttainah Specialized Hospital
- Feto Maternal Medical Centre
- Elite Medical Center
- Bahrain Gynecology and Infertility Center
- Al Baraka Fertility Hospital
- Janeen Fertility & Genetics Centre
- Dr. Sulaiman Al Habib Medical Group
- Dr. Samir Abbas Hospital
- Mediclinic Middle East
- Al Ahli Hospital LLC
- Al Tai Medical Center
For more information about this report visit https://www.researchandmarkets.com/r/45uaiy
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