Chicago, July 28, 2022 (GLOBE NEWSWIRE) -- In Vitro Fertilization Market / IVF Market is projected to reach USD 987 million by 2026 from USD 638 million in 2021, at a CAGR of 9.1% from 2021 to 2026, according to a new report by MarketsandMarkets™. Factors such as growth in the median age of first-time mothers, global decline in the fertility rates, increasing male infertility, rise in consumption of alcohol and cigarettes, growing public awareness about infertility and the available treatment options, implementation of government initiatives to promote IVF treatments, and the introduction of new and advanced IVF products are likely to fuel the growth of the IVF market during the forecast period. Moreover, the significant rise growth in fertility tourism and growing adoption of assisted reproductive technology is another factor that is expected to provide growth opportunities for players in the market.
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On the basis of products, the in vitro fertilization market is classified into equipment, reagents & media and accessories. The equipment segment held the largest share owing in presence of well established players offering advanced equipments for infertility treatment, growing acquisition & partnership among players to launch new equipment in the market and initiatives by government to boost the accessibility of the in vitro fertilization equipment.
The in vitro fertilization equipment market is further segmented into This market is further divided into sperm analyzer systems, micromanipulator systems, laser systems, imaging systems, ovum aspiration pumps, sperm separation devices, incubators, cryosystems, cabinets, gas analyzers, anti-vibration tables, witness systems, and other equipment. The imaging systems segment commanded the largest share of the in vitro fertilization equipment market in 2020 due to technological advancements and increasing applications of imaging systems in IVF procedures.
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Based on the type of cycle, the IVF market is segmented into fresh non-donor, frozen non-donor, fresh donor, and frozen donor IVF cycles. The fresh non-donor IVF cycle segment is estimated to account for the largest market share in 2021. Factors such as high success rates, easy implantation process, and enhanced embryo production are responsible for the large share of this market segment. However, the frozen non-donor cycle segment is projected to register higher growth during the forecast period, as this approach is highly preferred in cases where only a small number of eggs or embryos develop during one cycle, or if the patient needs to undergo any medical treatment, or if the patient prefers to delay childbirth.
Based on the type, IVF market is segmented into Conventional IVF, IVF with ICSI, IVF with donor eggs, and others. IVF with ICSI procedure anticipated to grow at a significant rate during the forecast period owing to the success rate of fertilization with ICSI procedure, and the growing utilization of the ICSI during IVF procedure and presence of well-established market players with a wide range of IVF product offerings.
Based on end user, the in vitro fertilization market is classified into fertility clinics, hospitals and surgical centers, research institutes, and Cryobanks Fertility clinics form the largest end-user segment in this market and are expected to witness the highest growth during the forecast period. This can be attributed to factors such as rising government initiatives to establish fertility clinics, initiatives taken by large international healthcare providers, and the increasing popularity of IVF treatments worldwide.
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Geographical Growth Scenario:
The in vitro fertilization market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the in vitro fertilization market in 2021. This is attributed to the factors such as rising medical tourism in Asian countries, increasing healthcare expenditure, rising medical tourism, and growing awareness among people about IVF treatment are supporting the growth of the in vitro fertilization market in the region.
Key Players in IVF Market are:
- The Cooper Companies Inc. (US),
- Cook Group (US),
- Vitrolife (Sweden),
- Thermo Fisher Scientific, Inc. (US),
- FUJIFILM Irvine Scientific (US),
- Kitazato Corporation (Japan), and
- Hamilton Thorne Ltd. (US), among others.
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