Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "Global In Vitro Fertilization Market Analysis & Forecast 2024-2034: Market By Product; By Type; By Procedure Type; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
Market Overview
The global in vitro fertilization (IVF) market is experiencing significant growth, with an estimated valuation of USD 25.23 billion in 2023, and projections suggest a climb to USD 52.68 billion by the year 2034. This ascent represents a Compound Annual Growth Rate (CAGR) of 6.92% from 2024 to 2034. A combination of heightened infertility rates, a surge in median age of individuals seeking parenthood, and advancements in reproductive technologies are key contributors to the market's expansion. The implementation of artificial intelligence (AI) in IVF procedures is particularly notable for its potential to enhance success rates in fertility treatments.
Product Innovation Spurring Growth
A significant portion of the market's revenue is accounted for by instrumental products, driven by the demand for novel devices in assisted reproductive technology (ART) procedures. The development of AI-driven technology for selecting viable sperm and eggs signifies the innovation landscape's vigor, attracting considerable investment and fostering partnerships within the field. The reagents segment is expected to outpace other sectors, catalyzed by a strong pipeline of innovative products and regulatory approvals.
Advances in IVF Procedures
The market has observed a particular interest in IVF with Intracytoplasmic Sperm Injection (ICSI), attributed to its higher success rates compared to conventional methods. Fresh non-donor procedures continue to lead in revenue generation, propelled by improved outcomes using fresh eggs or embryos. On the horizon, frozen non-donor procedures are predicted to experience the most rapid growth, admired for their cost-effectiveness and evolving technological support.
End-User Dynamics
Fertility clinics are at the forefront as the primary end-users within the in vitro fertilization market. The cost-effectiveness, specialized care, and accelerated advancements have augmented their appeal. Introduction of AI-enabled fertility solutions marks a transformative phase in service delivery for these clinics. Hospitals are rapidly adopting advanced technologies, gearing up for a significant uptick in market share with more IVF treatments being performed in these institutions.
Regional Market Insights
North America remains the dominant market, with significant investments in fertility treatments and conducive regulatory and reimbursement scenarios. Europe is rapidly catching up and is anticipated to exhibit the highest CAGR, with enhanced IVF treatments and growing infertility cases driving demand. Collaborative efforts between key players are expected to further energize the market in these regions.
Conclusion
In summary, the in vitro fertilization market's trajectory points towards sustained growth, as fertility issues become more prevalent and the quest for solutions intensifies. The market's dynamism is influenced by advancements in technology, particularly AI, which is set to revolutionize fertility treatments and outcomes. As the market continues to expand, the focus on innovation, effective procedures, and knowledgeable end-users heightens, signaling a progressive era for fertility services globally.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $25.23 Billion |
| Forecasted Market Value (USD) by 2034 | $52.68 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Companies Mentioned
- New Hope Fertility Centre
- Reproductive Medicine Associates
- Fertility And Gynecology Centre Monterey Bay IVF
- Servy Massey Fertility Institute
- Boston IVF
- Cardone Reproductive Medicine And Infertility LLC
- Conceptions Reproductive Associates Of Colorado
- Houston Fertility Centre
- Fertility Centre Of San Antoni
- Sher Institute For Reproductive Medicine (Sirm)
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