Selbyville, Delaware, Sept. 30, 2024 (GLOBE NEWSWIRE) --
In-vitro Fertilization Market size was valued at USD 20.2 billion in 2023 and is projected to grow at a CAGR of 5.7% from 2024 to 2032, primarily driven by rising infertility rates.
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As reported by the World Health Organization (WHO), approximately 186 million individuals globally grapple with infertility. Furthermore, conditions like polycystic ovary syndrome (PCOS) and endometriosis, impacting 1 in 10 women worldwide, are fueling the heightened demand for IVF.
In-vitro fertilization is a medical procedure that aids conception by fertilizing an egg in a lab setting outside the human body and subsequently transferring the embryo into the woman's uterus. As a prevalent and effective form of Assisted Reproductive Technology (ART), IVF addresses various infertility challenges, including ovulation disorders, damaged fallopian tubes, and male infertility.
The surging infertility cases significantly propel the in-vitro fertilization market. For instance, WHO data reveals that 1 in 6 individuals globally faces infertility, underscoring the pressing need for fertility care. Technological strides have markedly bolstered IVF success rates. For instance, IVF success rates have surged from roughly 10% in the 1980s to about 30-35% per cycle in 2023, contingent on the woman's age. Time-lapse imaging technology empowers embryologists to closely monitor embryo development, enhancing selection and implantation success rates, and thereby boosting overall IVF success.
The overall industry is classified into product, type of cycle, procedure, end-use, and region.
in-vitro fertilization market segmentation by product includes equipment, reagents & media, and accessories. The equipment segment, leading the market in 2023 with a valuation of USD 9.4 billion, encompasses a diverse range including microscopes, imaging systems, sperm analyzers, ovum aspiration pumps, micromanipulators, incubators, gas analyzers, cryosystems, laser systems, sperm separation systems, cabinets, anti-vibration tables, witness systems, and other specialized equipment.
Segmentation by cycle type reveals fresh non-donors, frozen non-donors, frozen donors, and fresh donors. The fresh non-donors led with a 48.1% share in 2023, attributed to their superior success rates. Utilizing a woman's own eggs immediately post-retrieval, fresh non-donor cycles boast higher success rates. This advantage stems from the eggs being unaltered by freezing and thawing, processes that could compromise their quality.
North America led the global in-vitro fertilization market with revenue of USD 6.2 billion in 2023, projected to soar to USD 9.8 billion by 2032. Renowned for its cutting-edge medical technology, North American fertility clinics leverage latest advancements in reproductive medicine for ensuring IVF remains both accessible and effective. Factors like delayed childbearing, lifestyle choices, and health conditions contribute to the region's fertility challenges. As many couples postpone parenthood for career or personal reasons, the appetite for fertility treatments, notably IVF, has surged.
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Major players in in-vitro fertilization market include Cook Medical, Esco Medical, FUJIFILM Irvine Scientific, Inc., GE HealthCare Technologies, Inc., Genea BIOMEDX, Gynemed GmBH & Co. KG, Hamilton Thorne Ltd., IVFtech ApS, Kitazato Corporation, Merck KGaA, Nidacon International AB, The Baker Company Inc., and The Cooper Companies Inc. among others.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing infertility rates
3.2.1.2 Technological advancements and expansion of fertility industry
3.2.1.3 Increasing median age of pregnancy
3.2.1.4 Favorable government initiatives
3.2.2 Industry pitfalls & challenges
3.2.2.1 High costs associated with fertility procedures
3.2.2.2 Social and ethical concerns especially in developing countries
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Porter's analysis
3.6 PESTEL analysis
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