Dublin, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The "Global In-Vitro Fertilization (IVF) Market (2023-2028) by Instrument, Technology, End-User, Geography, Competitive Analysis and the Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The global In-Vitro Fertilization (IVF) market is estimated to be USD 19.78 Bn in 2023 and is projected to reach USD 31.1 Bn by 2028, growing at a CAGR of 9.47% during the forecast period (2023-2028), according to a new report by ResearchAndMarkets.com.
IVF is a complex series of procedures used to help with fertility or prevent genetic problems and assist with the conception of a child. The increasing prevalence of infertility, which affects around 17.5% of the adult population worldwide, is driving the demand for IVF. Factors such as hectic and sedentary lifestyles, delayed childbearing, and growing medical conditions contribute to infertility, leading individuals and couples to seek assisted reproductive technologies.
Despite the growing demand for IVF, the low success rate and high cost of procedures are hindering market growth. Only 33% of people undergoing IVF get pregnant during their first cycle and the cost further impacts market growth.
However, advancements in IVF techniques, such as AI in IVF, Stem Cell Treatment, Laser Assisted Hatching, Robotic Technology, and Nanobots, are expected to create market opportunities. Additionally, government approval for removing genetic abnormalities can further boost the market.
Market Segmentation:
The Global In-Vitro Fertilization Market is segmented based on Component, Technology, Origin of Embryos, End-User, and Geography.
- By Component: The Equipment segment is anticipated to hold the largest market share due to the high cost of the equipment and its crucial role in IVF procedures.
- By Technology: Conventional IVF is the most commonly used form of assisted reproductive technology, contributing to the major market share.
- By Origin of Embryos: The Fresh Non-donor segment is the most common and accessible option for IVF treatment.
- By End User: Fertility Clinics hold a major market share, providing comprehensive fertility care and IVF procedures.
- By Geography: The Asia-Pacific region leads the market share, driven by a large patient pool and increasing medical tourism.
Market Dynamics:
Drivers: Rising cases of infertility, unhealthy and hectic lifestyles, and government initiatives promoting IVF treatments.
Restraints: High costs associated with IVF procedures and low success rates.
Opportunities: Introduction of new advanced technology, increasing awareness and accessibility of IVF technology in developing areas, and rising fertility tourism.
Challenges: Availability of alternative methods and ethical concerns in society for the acceptance of IVF.
The report offers a comprehensive evaluation of the global IVF market, including market dynamics, trends, impact analysis, market segmentation, competitive analysis, historical and projected market size, and market shares of key players.
Companies Mentioned
- Cook Medical
- Coopersurgical Inc.
- Corning Inc.
- Eppendorf SE
- Esco Micro Pte. Ltd.
- FertiPro NV
- FUJIFILM Irvine Scientific, Inc.
- Hamilton Thorne, Inc.
- Irvine Scientific
- IVFtech ApS
- Kitazato Corp.
- Laboratoire CCD
- Labotect GmbH
- Merck KGaA
- Microtech IVF S.r.o.
- Nidacon International AB
- Nikon Instruments Inc.
- Thermo Fisher Scientific Inc.
- Vitrolife AB
- Zeiss Group
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 153 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $19.78 Billion |
| Forecasted Market Value (USD) by 2028 | $31.1 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/vvnr4q
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