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In-Vitro Fertilization Market Size May Hit US$ 33 billion by 2030

Precedence Research

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.

In-Vitro Fertilization Market Size 2020 to 2030
The rising infertility among women, declining fertility rates in male, increasing median age of first time mothers, and rising adoption of advanced in-vitro fertilization techniques are the major factors that augments the growth of the global in-vitro fertilization market. The According to the United Nations World Fertility Report 2019,the adolescent fertility rate decreased by over 50% between 1990 to 1995 and 2015 to 2020. Moreover, the Hebrew University of Jerusalem stated that the sperm count in men have declined more than 50% over the last 40 years. Thus, the declining fertility rates among the population are the major driver of the in-vitro fertilization market. Furthermore, the rising medical tourism across the globe is another factor that propels the market growth.

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In Vitro Fertilization Market Scope
Report Coverage Details
Market Size US$ 33 Billion by 2030
Growth Rate CAGR of 8.6% from 2021 to 2030
Largest Market Europe
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, End User, Region
In-Vitro Fertilization Market Report Highlights
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

Driver

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.

Restraints

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.

Opportunity

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.

Read Also: Waste Recycling Services Market to Exceed US$ 88.01 Billion by 2030

Challenges

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:

Segments Covered in the Report

By Product Type

By End User

By Instrument

By Geography

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