Fort Collins, Colorado, April 15, 2024 (GLOBE NEWSWIRE) --
The market for IVF treatments is expected to experience growth in the forecast period, driven by increasing technological advancements aimed at boosting success rates. Treatments such as egg/sperm freezing, vitrification, assisted hatching, Percutaneous Epidydimal Sperm Aspiration, and Testicular Sperm Extraction (PESA and TESE) are being introduced, along with novel goods, which will further stimulate market expansion. For example, in May 2023, AIVF Ltd., a company specializing in AI-based solutions for IVF clinics, collaborated with Genea Biomedx, a medical device provider for IVF laboratories, to develop an integrated systems solution for personalized IVF. This collaboration combined Genea Biomedx's Geri time-lapse incubator with AIVF Ltd.'s EMA AI platform, resulting in a comprehensive and cost-effective package that offers broader access to individualized and optimized IVF therapies.
The future outlook for the in vitro fertilization market appears promising, particularly as medical tourism gains traction in emerging economies. The growing trend of patients seeking healthcare services abroad is fueling the burgeoning sector of medical tourism. With advanced medical technology and affordable treatments increasingly accessible, individuals from underdeveloped nations opt to travel to industrialized countries for superior healthcare services. In vitro fertilization is gaining popularity among couples in emerging countries, thereby contributing to the expansion of the market.
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Segmentation Overview:
The in vitro fertilization market has been segmented into procedure type, end-user, and region.
Intracytoplasmic Sperm Injection (ICSI) leads the procedure type segment.
- Based on procedure type, the in vitro fertilization market segmentation comprises conventional IVF, intracytoplasmic sperm injection (ICSI), preimplantation genetic testing (PGT), and frozen embryo transfer (FET). Intracytoplasmic Sperm Injection (ICSI) dominates the segment growth in the forecast period, attributed to the high probability of success for ICSI procedure.
Hospitals accounted for a significant position in 2023
- Based on end-user, the market is further segmented into hospitals, fertility clinics, IVF centers, and others. Hospital is the fastest-growing segment in the market, as hospitals provide diagnostic evaluations, fertility treatments, and reproductive surgery services for patients with infertility issues.
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In Vitro Fertilization Market Report Highlights:
- The in vitro fertilization market growth is anticipated at a CAGR of 5.7% by 2032.
- The in vitro fertilization market is expected to grow in the future as medical tourism becomes more popular in emerging economies.
- North America accounted for a significant position in 2023 and is projected to continue dominating in the coming years attributed to the rise in the frequency of PCOD in the female population, and government funding for human embryo and fertilization projects.
- Some prominent players in the in vitro fertilization market report include Cook Medical Inc., Vitrolife AB, Merck KGaA (EMD Serono), Ferring Pharmaceuticals, Irvine Scientific, CooperSurgical, Inc., Genea Biomedx, Hamilton Thorne, Inc., Kitazato Corporation, Nidacon International AB.
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