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In Vitro Fertilization Market To Grow At A CAGR Of 5.9% By 2030, Due To Rising Reprotourism And The Increasing Cases Of Male And Female Infertility | Grand View Research, Inc.

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In Vitro Fertilization Market To Grow At A CAGR Of 5.9% By 2030, Due To Rising Reprotourism And The Increasing Cases Of Male And Female Infertility | Grand View Research, Inc.

June 06
06:55 2022
In Vitro Fertilization Market To Grow At A CAGR Of 5.9% By 2030, Due To Rising Reprotourism And The Increasing Cases Of Male And Female Infertility | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to a new report published by Grand View Research, The availability of genomic testing facilities that enable the prevention of the transfer of genetic disorders during In Vitro Fertilization (IVF) is further expected to drive the IVF market. The insurance providers are providing coverage for IVF procedures owing to an increase in the number of IVF treatments.

In Vitro Fertilization Industry Overview

The global in vitro fertilization market size was valued at USD 21.9 billion in 2021 and is expected to reach USD 37.4 billion by 2030, expand at a CAGR of 5.9% over the forecast period. Rising reprotourism and the increasing cases of male and female infertility are the key factors driving the market growth. Infertility is one of the major health concerns faced by individuals globally. According to WHO, 8%-10% of couples globally suffer from infertility which is around 80 million couples worldwide. According to the American Pregnancy Association, male infertility accounts for 30% of infertility cases and contributes to around one-fifth of infertility cases. The average age of women and men getting married and having their first child is increasing. This trend has increased the number of women seeking the In Vitro Fertilization (IVF) treatment.

Moreover, to focus on their career, many women freeze their eggs to have the child at a later stage. The rising dependence on fertility treatments will support market growth. Availability of funds is leading to a rise in the adoption of IVF procedures. To increase the success rate of IVF, techniques such as Testicular Sperm Extraction (PESA and TESE), are being introduced along with the development of new products. In June 2018, an Australian scientist developed an Artificial Intelligence (AI) tool called Ivy for the identification of an embryo with the best chance of pregnancy. PICSI (Physiological Intra-cytoplasmic Sperm Injection) is one of the techniques of sperm selection and is recommended for couples with a history of miscarriages, low embryo quality, and low fertility. Such technologies help increase the success rate of IVF pregnancies.

 

Gather more insights about the market drivers, restrains and growth of the Global In Vitro Fertilization market

To compete in the modern business environment, it is crucial for all the organizations (manufacturers, clinics, and hospitals) to develop their virtual presence to increase awareness about infertility, infertility treatment, and their services. As infertility is a sensitive issue, people are reluctant to discuss it openly, particularly in developing countries. Hence, developing authenticity and trust through digital platforms is a key challenge for service providers. The providers can take an initial step to gain a center’s or manufacturers’ trust by displaying the hospital’s or approval committee’s certificates, introducing the doctors or scientists, and sharing their coordinates to establish and authenticate their identity.

U.S. in vitro fertilization market size, by procedure type, 2020 - 2030 (USD Billion)

 

In Vitro Fertilization Market Segmentation

Based on the Instrument Insights, the market is segmented into Disposable Devices, Culture Media, and Capital Equipment.

  • The culture media segment dominated the market for IVF and accounted for a revenue share of more than 41.0% in 2021. This growth was credited to the factors, such as the availability of funding and an increase in research activities to improve the culture media.
  • needles, slides, and chambers, to meet the sterility and regulatory requirements, the disposable devices segment is expected to likely witness the fastest growth rate during the forecast years.

 

Based on the Procedure Type Insights, the market is segmented into Fresh Donor, Frozen Donor, Fresh Non-donor, and Frozen Non-donor.

  • The frozen non-donor segment led the market IVF and accounted for the largest revenue share of 47.0% in 2021. The segment is expected to register the fastest growth over the forecast period.
  • Certain factors contributing to the high share are the cost-effectiveness as compared to fresh non-donor and the less-invasive nature of the procedure. The fresh non-donor segment accounted for the second-highest revenue share in 2021.

 

Based on the End-use Insights, the market is segmented into Fertility Clinics, and Hospitals & Other Setting.

  • The fertility clinics segment dominated the market for IVF and accounted for the largest revenue share of more than 79.0% in 2021. The segment is likely to witness the fastest CAGR from 2022 to 2030.
  • Employment, remuneration, and training are expensive in developed countries, such as the U.S. and U.K. All these abovementioned factors can be attributed to the low share of the hospital segment in the market.

 

Based on the In Vitro Fertilization Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, & Middle East & Africa.

  • Europe dominated the in vitro fertilization market and accounted for the largest revenue share of more than 37.0% in 2021. Factors, such as rising medical tourism and legal revisions related to IVF techniques, will propel the regional market growth during the forecast years.
  • The demand for IVF treatment is expected to boom in the Asia Pacific region due to fertility tourism, increasing foreign investment to penetrate economically developing countries, and the changing regulatory landscape.
  • Standardization of procedures through automation, regulatory reforms, government funding for egg/sperm storage, and the introduction of more IVF treatments by industry players are among the major factors contributing to the growth of the IVF market in North America.

 

Market Share Insights:

  • 2021: CooperSurgical announced a partnership with Virtus Health to strengthen its fertility technology, increasing the accessibility of advanced treatment to infertile couples.
  • July 2019: Vitrolife and Prime Tech entered into a collaboration agreement to design and market the Piezo technique for better Intracytoplasmic Sperm Injection (ICSI) procedure in human IVF globally except for Thailand, Japan, and Malaysia.

 

Key Companies Profile:

Some of the prominent players in the in vitro fertilization market include:

  • OvaScience
  • EMD Serono Inc.
  • Vitrolife AB
  • Irvine Scientific
  • Cook Medical Inc
  • Cooper Surgical Inc.
  • Genea Biomedx
  • Thermo Fisher Scientific Inc.
  • Progyny, Inc.
  • Boston IVF 

 

Order a free sample PDF of the In Vitro Fertilization Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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