In-Vitro Fertilization Market (IVF Market) globally would reach by revenue to a market size of USD 38.27 billion by 2027 from USD 19.53 in 2020; growing at a compound annual growth rate (CAGR) of 10.1% from 2020 to 2027. Poor health conditions due to the busy lifestyle, hereditary characteristics, reprotourism, late initiation of family, or medical issues have raised the cases of infertility. This has raised the demand for in-vitro fertilization thereby boosting the growth of the market tremendously. Further, Technological advancements in this field such as lensless imaging of the sperms are some of the driving factors for this market. There are several techniques that have been introduced in the in-vitro fertilization procedure such as Percutaneous Epidydimal Sperm Aspiration and Testicular Sperm Extraction (PESA and TESE), three-parent IVF, mini IVF, hatching, vitrification, egg/sperm freezing, and genetic diagnosis. These are the market trends that would take this market to a new level generating substantial revenue in the forecast period.
In-Vitro Fertilization Market has been segmented into procedure type, instrument type, end-user type, and geography type. The procedure type has been further sub-segmented covering fresh donor, frozen donor, fresh non-donor, and frozen non-donor. The end-user segment has been covered into fertility clinics and hospitals & other settings. By Instrument, the segment has been sub-segmented into disposable devices, culture media, and capital equipment. Geography covers all the major four regional markets of the world namely North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Again, these four geographies have been further bifurcated into their respective countries. For instance, North America includes the U.S., Mexico, and Canada. Similarly, European regions covered in the scope of the study are the UK, Italy, Germany, France, Russia, Belgium, Switzerland, Netherlands, and Spain among others; whereas the major countries covered under APAC are China, Japan, India, South Korea, Australia, Taiwan, Singapore, and China. Other than North America, Europe, and the Asia Pacific, the remaining part of the world, i.e., RoW covers Central & South America, Middle East, and Africa.
Among the instruments in the IVF market, culture media accounts for the largest market share at present in the global IVF market. The growth of this segment is attributed to rising in research and development activities, government funding, and techniques that allow preserving the sperm without hampering the quality. Semen processing media, ovum processing media, cryopreservation media, and embryo culture media are the key media used during the IVF procedure. Further, huge egg cryobanks establishment, egg processing media is also expected to see increased demand during the forecast period. The disposable devices segment is expected to grow at the fastest rate during the forecast period. The reasons for growth are strict regulatory mandates and the need for a high standard of sterile conditions. Due to these, factors the market players are introducing different disposable devices such as slides, chambers, and needles.
Among the procedure type in the in-vitro fertilization market, the fresh non-donor segment has the highest success rate thereby expected to grow at the fastest growth rate during the forecast period, i.e., 202 to 2027. Further, the other additional benefits associated with this procedure such as lower miscarriage rates, higher live birth rates, more birth weight, better implantation rates, and lower ectopic pregnancy are expected to boost the growth of this procedure during the forecast period. Among the end use segments, the fertility clinics segment would dominate the market during the forecast period due to an increase in the number of fertility clinics and ART centers and a rise in demand for ART treatments. In addition, state-of-the-art equipment such as non-invasive Radio Frequency Identification (RFID) tags and micromanipulation provided by fertility clinics is further expected to propel the growth of this market during the forecast period.
Among the different geographies in the in-vitro fertilization market, Europe was the dominating market in 2019 holding a major market share and the region was the first to come up with in-vitro fertilization. The growth is also due to the high demand from countries such as Germany, UK, and France. North America is also expected to witness strong growth during the forecast period. The Asia Pacific holds a huge population base is expected to emerge as an opportunistic market for in-vitro fertilization during the forecast period. India, China, Japan, Australia, and Singapore are some of the major countries which are expected to support the growth of this market during the forecast period.
The major players operating in the in-vitro fertilization market are Irvine Scientific; Cook Medical Inc.; Cooper Surgical Inc.; OvaScience; Thermo Fisher Scientific Inc.; Progyny, Inc.; EMD Serono Inc.; Vitrolife AB; Genea Biomedx; and Boston IVF among others. The key strategies adopted by the key players are geographical expansion, mergers, and the development of innovative products. The market for in-vitro fertilization would see robust growth during the forecast period, i.e., from 2020 to 2027.
Scope of the In-Vitro Fertilization Market
Instrument Outlook (Revenue, USD Billion, 2019 - 2027)
Type Outlook (Revenue, USD Billion, 2019 - 2027)
End-Use Outlook (Revenue, USD Billion, 2019 - 2027)
Regional Outlook (Revenue, USD Billion, 2019 - 2027)
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