The in-vitro fertilization market is anticipated to garner notable gains, registering a CAGR of 8.6% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.
The in-vitro fertilization market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next ten years. The market is expected to grow to US$ 33billion by 2030 from US$ 15.72 billion in 2021. The report contains 150+ pages with detailed analysis.
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In Vitro Fertilization Market Scope
|Market Size||US$ 33 Billion by 2030|
|Growth Rate||CAGR of 8.6% from 2021 to 2030|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End User, Region|
In-Vitro Fertilization Market Report Highlights
- Based on the product type, the frozen non-donor is estimated to be the most opportunistic segment during the forecast period. This is attributed to the rising awareness regarding the benefits of the frozen non-donor cycle such as low cost, easy transfer, and low level of stress. The adoption of this cycle is gaining rapid traction among the women and hence is expected to grow at a significant pace during the forecast period.
- Based on the end user, the fertility clinics segment dominated the market in 2020. This is attributed to the increased popularity of such clinics among the people, specialized infertility related services offered, and increased penetration of fertility clinics across the globe. Hence, this segment is expected to sustain its significance throughout the forecast period.
In-Vitro Fertilization Market Regional Snapshot
Europe region accounted largest revenue share 37% in 2020 due to rising medical tourism and legal revisions related to IVF techniques.
Asia Pacific witness highest CAGR during the forecast period 2021 to 2030. Asia Pacific is witnessing a decline in the fertility rates among both the sexes. Rising pollution levels in the region owing to the rising industrialization and urbanization. Moreover, changing lifestyle, changing consumption habits, and rising consumption of alcohol are the factors that are contributing towards the rising infertility. According to the Australian Institute of Health and Welfare, the median age of the first time mothers in Australia grew from 27.9 years to 31.9 years from 2009 to 2019. Moreover, the rising awareness regarding the in-vitro fertilization treatments and rising healthcare expenditure is fueling the growth of the Asia Pacific in-vitro fertilization market.
North America is estimated to be the most opportunistic market during the forecast period. This is attributed to the increasing median age of the first time mothers, rising prevalence of polycystic ovary syndrome, and delayed marriages in the region. The increased awareness regarding the advanced fertilization techniques coupled with increased healthcare expenditure, improved reimbursement policies, and growing number of fertility clinics are the crucial factors that are expected to propel the growth of the in-vitro fertilization market.
In-Vitro Fertilization Market Dynamics
Increasing median age of the first time mothers
The women now-a-days are preferring their career over starting a family. The increased government focus on women empowerment and women education had resulted in the increased participation of women in workforce. This resulted in delay in marriages, delayed pregnancy, and surge in the usage of contraceptives. All these factors have significantly contributed toward a rise in the median age of the first time mothers. Therefore, the global in-vitro fertilization market is expected to gain rapid traction during the forecast period.
High costs involved
A high cost is involved in acquiring the in-vitro fertilization treatment. The low affordability especially in the low and middle income countries, lack of awareness regarding the reimbursement policies, and lack of proper healthcare infrastructure are the major factors that may hinder the market growth in the forthcoming years.
Rising developmental strategies by the key market players
The market players are constantly engaging in strategies like partnerships, collaborations, and new product launches. For instance, in January 2021, Merck KGaA and Royal Philips entered into a partnership for the development of digital solution for providing personalized treatment for fertility.The various developmental strategies like product launches, acquisitions and mergers fosters market growth and offers lucrative growth opportunities to the market players.
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Increasing age of women leads to reduced efficacy of fertility treatment
The delay marriages and delayed pregnancies coupled with growing age leads to complications in getting pregnant. Women of age 35 years or more have higher chances of having a miscarriage and stillbirth. Therefore, the declining efficacy of the fertility treatment due to the aging is a major threat to the market.
Some of the prominent players in the global in-vitro fertilization market include:
- AmbroiseParé Group
- Amedes MVZ Cologne GmbH
- AMP Center St Roch
- AVA Clinic Scanfert
- Bangkok IVF center
- Biofertility Center
- Bloom Fertility and Healthcare
- Bloom Fertility Center
- Bourn Hall Fertility Center
Segments Covered in the Report
By Product Type
- Fresh Donor
- Fresh Non-Donor
- Frozen Donor
- Frozen Non-Donor
By End User
- Fertility Clinics
- Surgical Centers
- Research Institutes
- Culture Media
- Disposable Devices
- Capital Equipment
- North America
- Asia Pacific
- South Korea
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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