Luton, Bedfordshire, United Kingdom, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the In Vitro Fertilization (IVF) Market.
In the changed post COVID-19 business landscape, the In Vitro Fertilization (IVF) Market is expected to grow at USD 1280.61 million from 2023 to 2029, accelerating at a CAGR of 9.1%.
Market Overview:
In vitro fertilization (IVF) is a composite series of procedures used to help with fertility or prevent genetic difficulties and assist with the conception of a child. During IVF, mature eggs are collected (regained) from ovaries and fertilized by sperm in a lab.
The decreasing efficacy of infertility treatment among patients as they age will pose a challenge to market growth. Because of the changing social landscape, an increasing number of older women are seeking assistance from infertility clinics. The risk of pregnancy and childbirth complications rises with age. A woman over the age of 35 is 2.5 times more likely to have a miscarriage or stillbirth than a woman under the age of 35, whereas a woman over the age of 40 is more than five times more likely to have a miscarriage or stillbirth than a woman under the age of 35. The declining success rates of IVF treatment procedures in patients as they get older has become a major challenge for the IVF market. Ask for a Sample Report
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Key Insights from Primary Research
As per the analysis, the In Vitro Fertilization (IVF) Market is likely to grow above a CAGR of around 9.1% between 2023 and 2029.
The In Vitro Fertilization (IVF) Market size was worth around US$ 584.78 million in 2022 and is estimated to hit approximately US$ 1280.61 million by 2029. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
The market is projected to grow at a significant rate due to Increasing medical tourism.
Asia Pacific is expected to hold the largest share of the global In Vitro Fertilization (IVF) Market. Significant increase in medical tourism, increased awareness of the availability of in vitro fertilization procedures, decreased IVF treatment procedures, growing fertility clinics in the region, rising healthcare expenditures, and increasing adoption of assisted reproductive technology in emerging nations.
Industry Growth Drivers
The high costs of IVF procedures are impeding the market growth.
Every year, more than 2.5 million in vitro fertilisation (IVF) cycles are performed worldwide. Because of a lack of reimbursement policies, the cost of IVF treatment varies by country. In some parts of the world, a lack of insurance coverage and a poor reimbursement scenario are limiting the market’s growth. However, the high cost and low success rate of IVF treatment, as well as restrictive regulations and ethical concerns, are expected to limit the IVF market’s growth to some extent.
A variety of factors contribute to the growth of the medical tourism industry in developing countries.
Brazil has 150 infertility treatment centres and over 20 medical centres [Source: Fertility Treatment Abroad]. A typical IVF cycle in the United States costs around USD 12,000, whereas the same procedure can be completed in Brazil for USD 4,000. India is one of the most affordable destinations for in vitro fertilisation (IVF) and other infertility treatments in the world, with over 500 individual IVF centres. When compared to the United States, healthcare treatments in India can cost up to 90% less. In the United States, a typical IVF cycle costs around USD 12,000, whereas in India, the same cycle can be completed for USD 2,000–USD 3,000.
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Market Positioning of Key Vendors
Major companies active in the global In Vitro Fertilization (IVF) industry include The Cooper Companies Inc., Cook Group, Vitrolife, Thermo Fisher Scientific, Inc., Esco Micro Pte. Ltd., Genea Limited, IVFtech ApS, FUJIFILM Irvine Scientific, The Baker Company, Inc., Kitazato Corporation, Corning Corporation, Hamilton Thorne Ltd., ZEISS Group, FERTIPRO NV, and Eppendorf. The presence of established industry players is characterized by mergers and acquisitions, joint ventures, expansion of production capacity, extensive distribution and branding decisions to improve market share and regional footprint. Also, they are involved in ongoing research and development activities to develop new products and focus on expanding the product portfolio. This is expected to increase competition and pose a potential threat to new entrants.
Browse the full “In Vitro Fertilization (IVF) Market by Product (Micromanipulators, Incubators, Cabinets, Imaging System, Laser System, Reagents & Accessories), Cycle Type (Fresh IVF Cycles, Thawed IVF Cycles, Donor Egg IVF Cycles), End Users (Fertility Clinics, Hospitals, Cryobanks) Global Opportunity Analysis, Region and Industry Forecast, 2023-2029” Report at https://exactitudeconsultancy.com/reports/6671/in-vitro-fertilization-ivf-market/
Key Market Segments: In Vitro Fertilization (IVF) Market
In Vitro Fertilization (IVF) Market by Product
- Micromanipulators
- Incubators
- Cabinets
- Imaging System
- Laser System
- Reagents & Accessories
In Vitro Fertilization (IVF) Market by Cycle Type
- Fresh IVF Cycle
- Thawed IVF Cycle
- Donor IVF Cycle
In Vitro Fertilization (IVF) Market by End Users
- Fertility Clinics
- Hospitals
- Cryobanks
In Vitro Fertilization (IVF) Market by Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East And Africa
Important countries in all regions are covered.
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Regional Insights:
The demand for IVF treatment is expected to boom in the Asia Pacific region due to fertility tourism, increasing foreign investment to penetrate economically developing countries, and the changing controlling landscape. Incidence of infertility has increased due to changes in lifestyles, such as the increased prevalence of obesity and stress, lack of exercise, improper eating habits, lack of nutrition, and rise in pollution, as well as due to pervasiveness of medical conditions such as diabetes. North America is also expected to witness increasing demand for fertility treatment in the coming years. Standardization of measures through automation, regulatory reforms, government funding for egg/sperm storage, and the introduction of more IVF treatments by industry players are among the major factors contributing to the growth of the IVF market in North America.
Recent Industry Developments:
For instance, CrossBay Medical Inc. received U.S. FDA approval for its CrossBay IVF Embryo Transfer catheter set. The product has also received commercialization approval in Europe and China. CrossBay IVF Embryo Transfer Catheter Set is a sterile, disposable device that is used to transfer an in vitro fertilized embryo to the uterus. Such developments are expected to increase the adoption of disposable IVF devices.
For instance, in July 2019, Vitrolife and Prime Tech entered into a collaboration agreement to design and market the Piezo technique for better Intracytoplasmic Sperm Injection (ICSI) procedure in human IVF globally except for Thailand, Japan, and Malaysia.
Report Scope:
| Report Attribute | Details |
| Market Size in 2022 | USD 584.78 million |
| Projected Market Size in 2029 | USD 1280.61 million |
| CAGR Growth Rate | 9.1% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2029 |
| Key Market Players | The Cooper Companies Inc., Cook Group, Vitrolife, Thermo Fisher Scientific, Inc., Esco Micro Pte. Ltd., Genea Limited, IVFtech ApS, FUJIFILM Irvine Scientific, The Baker Company, Inc., Kitazato Corporation, Corning Corporation, Hamilton Thorne Ltd., ZEISS Group, FERTIPRO NV, and Eppendorf, and others. |
| Key Segment | by Product, by Cycle Type, by End Users, by Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Cold Storage market analysis.
- The competitive environment of current and potential participants in the Cold Storage market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyses the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
To know an additional revised 2023 list of market players, request a sample report:
https://exactitudeconsultancy.com/reports/6671/in-vitro-fertilization-ivf-market/#request-a-sample
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