New York, United States, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Global In Vitro Fertilization Market Size is to Grow from USD 22.90 Billion in 2022 to USD 39.12 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period.
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In Vitro Fertilization (IVF) is a groundbreaking assisted reproductive technology that enables individuals and couples struggling with infertility to conceive. This procedure involves the controlled stimulation of a woman's ovaries to produce multiple eggs, which are then harvested and combined with sperm in a laboratory setting. The resulting embryos are closely monitored for quality and development, and one or more healthy embryos are selected for transfer into the woman's uterus. IVF can be tailored to address various infertility causes, such as fallopian tube blockages, low sperm count, or unexplained fertility issues. It offers hope to those facing reproductive challenges, including same-sex couples and single individuals, and has led to the birth of countless healthy babies worldwide.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global In Vitro Fertilization Market Size, Share, and COVID-19 Impact Analysis, By Instrument (Disposable Devices, Culture Media, and Capital Equipment), By Procedure Type (Fresh Donor, Frozen Donor, Fresh Non-donor, and Frozen Non-donor), By End-Use (Fertility Clinics and Hospitals & Others Setting), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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In 2022, the culture media segment accounted for around 42.5% market share
On the basis of the instrument, the global in vitro fertilization market is segmented into disposable devices, culture media, and capital equipment. The dominance of the culture media segment in the in vitro fertilization (IVF) market is attributed to its essential role in the success of IVF procedures. Cultural media are crucial for nurturing and supporting the growth of embryos in the laboratory setting. Advances in culture media formulations have significantly improved embryo development rates and the overall success of IVF treatments.
The frozen non-donor segment held the largest market with more than 46.2% revenue share in 2022
Based on the procedure type, the global in vitro fertilization market is segmented into fresh donor, frozen donor, fresh non-donor, and frozen non-donor. The dominance of the frozen non-donor segment in the in vitro fertilization (IVF) market is primarily due to its broader applicability and higher success rates. Frozen non-donor embryos offer advantages like flexibility in timing and lower cost compared to fresh cycles. Patients can undergo multiple IVF attempts using frozen embryos, increasing the chances of success.
The fertility clinics segment held the largest market with more than 74.6% revenue share in 2022
Based on the end-use, the global in vitro fertilization market is segmented into fertility clinics and hospitals & others setting. The dominance of the fertility clinics segment in the in vitro fertilization (IVF) market can be attributed to its pivotal role as the primary service provider for IVF treatments. Fertility clinics specialize in offering a comprehensive range of assisted reproductive services, including IVF, making them a one-stop solution for individuals and couples seeking fertility treatments.
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Asia-Pacific is predicted to grow at the fastest CAGR of around 5.7% over the projected period
Based on region, Asia-Pacific's anticipated rapid growth in the in vitro fertilization (IVF) market is driven by several factors. The region's booming population, coupled with changing lifestyles, has led to a rising incidence of infertility issues. Moreover, increasing awareness about IVF options, expanding healthcare infrastructure, and improving economic conditions are making IVF treatments more accessible to a broader demographic. As societal norms evolve and the acceptance of assisted reproductive technologies grows, Asia-Pacific is positioned to witness significant demand for IVF services, making it the fastest-growing region in the global IVF market over the forecast period.
Europe's dominant position in the in vitro fertilization (IVF) market can be attributed to the region boasts advanced healthcare infrastructure and a high level of technological expertise, facilitating the widespread availability of IVF clinics and services. The favorable government policies and comprehensive insurance coverage in many European countries alleviate the financial burden on patients, making IVF more accessible.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global in vitro fertilization market include Bayer AG, Boston IVF, Cook Medical LLC, EMD Serono, Inc., Ferring B.V., FUJIFILM Holdings Corporation, Genea Biomedx, Merck & Co., Inc., OvaScience, Inc., Progyny, Inc., The Cooper Companies, Inc., Thermo Fisher Scientific, Inc., Vitrolife and others.
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Recent Developments
- In June 2023, Progyny, Inc. and Quantum Health, Inc. have joined forces to bring Quantum Health's Comprehensive Care treatments platform for family formation and reproductive treatments to market.
- In January 2022, Boston IVF, one of the world's most experienced fertility clinics, has joined forces with the Delaware Institute for Reproductive Medicine (DIRM). The unique collaboration intends to provide world-class fertility treatments and care locally through novel therapies such as IVF, preimplantation genetic testing, male infertility, and others.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global in vitro fertilization market based on the below-mentioned segments:
In Vitro Fertilization Market, By Instrument
- Disposable Devices
- Culture Media
- Capital Equipment
In Vitro Fertilization Market, By Procedure Type
- Fresh Donor
- Frozen Donor
- Fresh Non-donor
- Frozen Non-donor
In Vitro Fertilization Market, By End-Use
- Fertility Clinics
- Hospitals & Others Setting
In Vitro Fertilization Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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