The global in vitro fertilization market is on the verge of a significant breakthrough, with projections pointing to a substantial valuation of USD 819.8 million in 2024. This dynamic industry is expected to witness an impressive CAGR of 9% from 2024 to 2034, reaching an estimated USD 1,940.8 million by 2034.
The driving force behind this remarkable growth is the increasing incidence of infertility, which continues to impact millions of couples around the globe. The rising awareness and acceptance of IVF as a viable solution for infertility issues are set to propel the market to new heights, offering hope and possibilities for families aspiring to conceive.
This robust market expansion highlights not only the growing demand for advanced reproductive technologies but also the critical role that IVF plays in addressing the global fertility challenge. As the prevalence of infertility rises, so does the need for innovative and accessible IVF treatments that can help more couples realize their dreams of parenthood.
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IVF Market Dominates Infertility Treatment Landscape
Presently, the worldwide infertility treatment market is dominated by the in vitro fertilization sector. As more people and couples looking for reproductive solutions become aware of the advantages of IVF, this dominance is expected to grow.
This growth is primarily driven by two key factors:
- Rising Demand for IVF Procedures: A declining global fertility rate coupled with growing awareness about the improved success rates of IVF is leading to a surge in demand for these procedures.
- Increased Accessibility to Fertility Treatments: The rapid rise in the number of IVF clinics and hospitals worldwide is making fertility treatments more readily available, creating substantial growth opportunities within the market.
Some of the key takeaways from the report are highlighted below
- The demand for egg banking services is expected to surge considerably in the coming years
- Europe will lead in the in vitro fertilization banking services market throughout the forecast period
- Latin America will emerge lucrative in the in vitro fertilization banking services market in the coming years
- The rising demand for andrology services will augment growth prospects
- Fresh donor egg cycle services will remain highly sought-after among various egg banking services available
“The launch of advanced IVF techniques such as genetic diagnosis, three parent IVF, percutaneous epidydimal sperm aspiration, three-parent, and others are considered revolutionary findings in the field of medicine. Besides the rising prevalence of fertility concerns, increasing awareness among patients and their willingness to spend on advanced treatment procedures will create lucrative growth opportunities for the market.”
Competitive Landscape:
The worldwide in vitro fertilization industry is extremely competitive due to the existence of numerous regional and local firms. Leading in vitro fertilization (IVF) companies are constantly concentrating on growing their service and product offerings in order to profit. In addition, in order to obtain a competitive edge in the international IVF market, they have implemented a number of initiatives, including partnerships, mergers, acquisitions, collaborations, and the introduction of awareness campaigns. For example,
- In September 2029, Hamilton Thorne Ltd., a leading worldwide provider of precision instruments, consumables, software, and services to Assisted Reproductive Technologies (ART) and developmental biology research markets, received clearance to market GM501 wash media, its first Gynemed branded media product, in the USA
- In May 2021, Ro, the healthcare technology company, announced the acquisition of Modern Fertility, a high-growth reproductive health company.
- In September 2019, Fujifilm Irvine Scientific, Inc., launched Vit Kit-NX, a new vitrification solution for IVF.
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Key Companies Covered:
Vitrolife, Thermo Fisher Scientific Inc, Cook Group, IVFtech ApS, Esco Micro, Genea Limited, Fujifilm Irvine Scientific, The Baker Company, and Kitazato Corporation.
Key Segments:
By Product:
- Equipment
- Reagents and Media
- Accessories
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
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
- Europe
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