In Vitro Fertilization Market Poised for Remarkable Growth, Projected to Reach USD 1,940.8 Million by 2034 at a 9% of CAGR

In Vitro Fertilization Market
In Vitro Fertilization Market

The in vitro fertilization market is on the brink of significant expansion, with an estimated valuation of USD 819.8 million in 2024. According to recent market analysis, the industry is expected to witness a robust compound annual growth rate (CAGR) of 9% from 2024 to 2034, culminating in a valuation of USD 1,940.8 million by 2034.

This substantial growth is largely driven by the high incidence of infertility worldwide. As couples increasingly seek assisted reproductive technologies, the demand for effective and accessible IVF treatments is rising sharply. The market’s expansion underscores the growing importance of addressing infertility issues and the advancements in reproductive medicine.

This strong market growth indicates both the rising need for cutting-edge reproductive technology and the vital role that IVF plays in solving the world’s infertility problem. The need for cutting-edge, easily accessible IVF therapies to enable more couples to fulfill their aspirations of becoming parents grows along with the prevalence of infertility.

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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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