In Vitro Fertilization Services Market : A Deep Dive into the Industry's Key Applications and Technologies
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Increase in incidence of male and female infertility and growing number of women in workforce are key factors driving market revenue growth.
VANCOUVER, BRITISH COLUMBIA, CANADA, February 7, 2023 /EINPresswire.com/ -- The global In Vitro Fertilization (IVF) services market size is expected to reach USD 31.77 Billion in 2030 and register a steady revenue CAGR of 9.84% over the forecast period, according to latest analysis by Emergen Research. IVF services market revenue growth is driven to a significant extent by increasing number rising infertility occurrences attributable to adoption of sedentary lifestyle.
Behavioral changes in individuals, increasing number of women in the workforce, preference for late pregnancy, shift from rural to urban communities, lower marriage rates, and rise in trend of same sex marriages are factors driving revenue growth of the market According to the American Society for Reproductive Medicine (ASRM), approximately 6.7 million women in the U.S. are impacted by failure to get pregnant. Besides, 25% of people in the U.S. have more than one infertility cause. Researchers have also developed methods that are used beforehand to improve the effective rate of in-vitro fertilization.
In Vitro Fertilization Services Market Size, Share, Trends, By Procedure (Fresh Donor, Fresh Non-Donor), By Product (Reagents, Equipment), By End-use (Hospitals, Fertility Clinics, Surgical Centers, Cryobanks), and By Region Forecast to 2030
Expansion of fertility therapies to treat male infertility, such as Intracytoplasmic Sperm Injection (ICSI), is expected to have a positive impact on market growth. Provision of genomic testing to deter genetic disorder transfer through In-Vitro Fertilization (IVF) is also projected to contribute to revenue growth of the IVF market.
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Some major companies in the global market report include Vitrolife AB, CooperSurgical, Inc., Thermo Fisher Scientific Inc., The Baker Company, Inc., Kitazato Corporation, Cook Medical, Inc., Esco Micro Pte. Ltd., OvaScience, Boston IVF, and EMD Serono Inc.
Policy measures to have fair insurance schemes and ongoing fertility projects in the industry are driving growth of the market. Increase in number of persons opting for IVF treatment has led to more insurance payers covering the procedures. This led directly to competitive rates and moderated the costs of IVF treatment, as the process is a successfully mastered technology.
Key Highlights From the Report
In August 2021, Merck Specialties Pvt ltd. in India launched Pergoveris Pen for advanced infertility treatment in the country. The launch will emphasize Merck’s motive to fulfil unmet medical needs by offering ready-to-use, and improved treatment option for women with a severe Luteinizing Hormone (LH) and Follicle-Stimulating Hormone (FSH) deficiency.
Reagent segment accounted for larger revenue share in 2021 due to increasing number of in vitro fertilization procedures. Increased demand for cryopreservation, embryo, and sperm preparation is driving revenue growth of the segment.
Frozen non-donor segment revenue is expected to register significantly rapid growth rate during the forecast period due to established reliability and a higher success rate of frozen non-donor for pregnancy. Procedure cost is also lower as compared to cycles which use of fresh embryos and eggs. A frozen transfer is simpler for both, reproductive endocrinologist and patient. This procedure is also less mentally and physically stressful on the women’s body.
Fertility clinics play a vital role in healthcare systems, and can aid individuals and couples in recognizing fertility problems, seeking diagnosis, and getting a proper solution. Specialized fertility clinics provide a wide range of treatment options, from Intrauterine Insemination (IUI) to IVF, and freezing of egg.
In-vitro fertilization market in Europe accounted for largest revenue share in 2020 as the region is the first to remove the ‘experimental’ tag on cryopreservation of eggs. The choice to get pregnant after 30 years or later by a sizable number of women in countries in Europe is driving rapid demand for assisted reproductive technologies. Demand for such procedures is also in France, Germany, and the UK.
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Emergen Research has segmented the global IVF Services Market on the basis of procedure, product, end-use, and region:
Procedure Outlook (Revenue, USD Billion; 2022-2030)
Fresh Donor
Fresh Non-Donor
Frozen Donor
Frozen Non-Donor
Product Outlook (Revenue, USD Billion; 2022-2030)
Reagents
Cryopreservation media
Ovum processing media
Embryo culture media
Sperm processing media
Equipment
Sperm separation system
Imaging system
Cabinet
Incubators
Ovum aspiration pump
Micro manipulation system
Gas analyzer
Accessories
Anti-vibration tables
Laser system
Cryosystems
Witness system
End-Use Outlook (Revenue, USD Billion; 2022-2030)
Hospitals
Research Laboratories
Fertility clinics
Surgical Centers
Cryobanks
Regional Outlook (Revenue, USD Billion; 2022-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest Of MEA
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