The In Vitro Fertilization Market Demand is predicted to grow at a 9% CAGR from 2022 to 2032, reaching a value of US$ 1.6 billion by that time.
Rising male and female infertility rates, as well as rising reprotourism, are two significant causes driving the in vitro fertilization/IVF industry’s rise. Infertility is a significant medical condition that affects people all over the world.
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Male infertility accounts for 30% of all infertility cases and accounts for roughly one-fifth of all infertility cases, according to the American Pregnancy Association. The sector will grow as people become more reliant on fertility treatments. The rising use of in vitro fertilisation (IVF) treatments is being influenced by resource availability.
When the COVID-19 epidemic hit, reproductive treatments were halted, which had a psychological impact on the women who were impacted. Treatment institutions can now resume treatments as long as they follow rigorous rules.
Culture media, capital equipment, and IVF disposable devices comprise the in vitro fertilisation instrument. In 2020, culture media led the in vitro fertilization/IVF industry, accounting for a sizable portion of revenue. The rise of the in vitro fertilization/IVF market has been attributed to the availability of finances and an increase in research efforts to improve culture media.
In contrast, the disposable devices market is predicted to develop at the quickest rate over the projection years, as participants in the in vitro fertilization/IVF market provide disposable equipment such as needles, slides, and chambers to meet sterility and regulatory criteria.
The global in vitro fertilization/IVF market was dominated by the fertility clinic business, which accounted for the majority of revenue. The category is expected to maintain its market leadership in in vitro fertilization/IVF during the projection period while increasing at the quickest rate.
Cost-effectiveness, expert availability, and a low or no risk of Hospital-Acquired Infections (HAIs) are expected to drive the growth of reproductive clinics. IVF techniques are also conducted in hospitals.
By 2020, the frozen non-donor sector will command the global in vitro fertilization/IVF industry. However, in 2020, the non-donor sector generated the second-highest profits from in vitro fertilization/IVF. The high success rate on the first attempt accounts for a significant amount of this category.
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Some of the most recent advancements in the in vitro fertilization/IVF sector include disposable slides for sperm counting, an imaging-based monitoring system to retrieve the best motile sperm, and the usage of disposable microchips.
Over the projection period, Asia-Pacific is expected to be the fastest-growing in vitro fertilization/IVF market. Several causes, including growing ovulation anomalies in women, developing trends in assisted reproduction technology, and rising infertility rates, are driving the in vitro fertilization/IVF market. Furthermore, government fertility therapy programmes are likely to provide opportunities for the development of the in vitro fertilization/IVF market.
Key Takeaways:
- Culture media led the IVF/IVF market in 2020, accounting for more than 41% of total sales.
- With a revenue share of approximately 37% in 2020, Europe dominated the global in vitro fertilization/IVF market.
- The frozen non-donor category was responsible for more than 47% of total in vitro fertilization/IVF market sales in 2020.
- Fertility clinics lead the global in vitro fertilization/IVF market in 2020, accounting for more than 79% of total revenue.
Competitive landscape:
CooperSurgical, Inc., Vitrolife AB, Thermo Fisher Scientific Inc., Merck KGaA, and Fujifilm Holdings Corp. are some of the major competitors in the in vitro fertilization/IVF market. These in vitro fertilization/IVF market participants use a variety of marketing techniques to grow their in vitro fertilization/IVF market share, including mergers and acquisitions, product launches, and regional expansion.
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Key Segments
By Product:
- Equipment
- Reagents and Media
By Cycle:
- Fresh non-donor cycle
- Frozen non-donor IVF cycle
- Frozen donor IVF cycle
- Fresh donor IVF cycle
By End User:
- Fertility Clinics
- Hospitals & Surgical Centers
- Cryobank and Research Institutes
By Type:
- Conventional IVF
- IVF with ICSI
- IVF with Donor Eggs
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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