The global cryopreservation for in-vitro fertilization (IVF) market is likely to grow steadily with substantial improvements to pregnancy success rates in long term storage for reproductive materials. Favorable changes in regulations toward single parents, same sex couples, and older couples will create opportunities.
According to analysis by Future Market Insights (FMI), cryopreservation for IVF market surpassed a valuation of US$ 339 million in 2019. The market is set to reflect an impressive 10.2% CAGR through 2030.
As per the latest market study by Future Market Insights (FMI), the cryopreservation for IVF market is expected to grow at an impressive 10.2% CAGR through 2030. According to the report, innovations in terms of vitrification processes, especially for oocyte preservation aids market developments.
Despite the strong growth of cryogenics in the healthcare sector, prohibitive costs and strict rules on IVF treatments, coupled with complexities and limitations of tech in the market hold back growth.
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Key Takeaways on Cryopreservation for IVF Market
- The cryopreservation for IVF market size surpassed US$ 339 Mn in 2019, with market growth witnessing a moderate slump throughout the duration of the covid-19 outbreak, as lockdown restrictions hinder supply chains, and consumers redirect expenses towards essential commodities.
- IVF clinics will continue as the leading user of cryogenics in IVF treatments, the segment is projected to account for more than 60% of the overall market share over the forecast period.
- Cryogenic liquid cylinders are witnessing high demand in the cryopreservation for IVF market, aided by the wide scope of application in vitrification processes.
- East Asia will remain a leading regional market for cryopreservation in IVF centres, supported by relatively lower costs of healthcare and positive changes to population policies. Also, Latin America is expected to display strong growth owing to research applications.
“Higher rates of infertility have become a global issue. Strict regulations in numerous countries restrict couples from choosing fertility treatment, which has pushed couples to seek treatment in other regions bolstering to fertility tourism. With reductions in costs of cryogenics this factor will positively influence market developments,” said a lead analyst from FMI.
Covid-19 Effects on Cryopreservation for IVF Market
The cryopreservation for IVF sector has been negatively impacted by the ongoing covid-19 pandemic. Concerns over procedures and precautions in terms of handling seropositive patients are influencing short-term developments. Also, the risk of cross contamination and viral transmission during cryogenic procedures will limit adoption during this period.
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Cryogenic device production facilities have been affected by lockdown regulations, while restrictions on elective medical procedures have also hurt market developments. The market is expected to recover towards 2021 with rebounding consumer spending on cryogenics and IVF treatments in the post-pandemic era.
Competitive Landscape
Leading market players in the moderately fragmented cryopreservation for IVF market have been largely focused on investments into product development and launches. Also, market players are also emphasizing on strategic collaborations and the expansion of infrastructure to improve access to consumers.
For instance, in August 2020, Future Fertility, based in Canada launched Violet, a cloud-based software for assessing the probability of oocytes successfully fertilizing prior to being exposed to cryogenic storage processes.
CU Advanced Reproductive Medicine (CU ARM) in December 2019, announced the acquisition of the world’s very first Cryo Sentinel Monitoring system to minimize the risk of storage accidents for eggs, sperm, and embryo, which provides adequate warning in terms of liquid nitrogen depletion.
Extend Fertility has announced the expansion of its fertility portfolio apart from its leading segment of proactive egg freezing. This includes full spectrum in vitro fertilization processes, while also cutting down prices to improve access to consumers.
Such changes in the market are likely to generate major lucrative opportunities for cryopreservation for IVF market participants for the forecast period.
Aside from these market participants, other leading players in the market include:
- Thermo Fisher Scientific Inc.
- MilliporeSigma
- Fujifilm Irvine Scientific Inc.
- Vitrolife AB
- Kitazato Corp.
- Brooks Life Sciences
- Corning Inc.
- Bio-Match Tech Ltd.
- Cryo Solutions B.V.
- Cryogatt Systems Ltd.
- Kustodian Ltd.
- ColdStash
- TMRW Life Sciences Inc.
- Vitromed GmbH
- Cryotech
- Cook Medical LLC
- Worthington Industries Inc.
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Key Questions Answered in the Report
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