New York, USA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- In Vitro Fertilization Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “In Vitro Fertilization Market Information By Type, Devices, Reagents, End Users And Region - Forecast till 2030", the market size was valued USD 21.4 Billion in 2021 and is expected to reach USD 34.9 Billion by 2030 at CAGR of 5.7% during the forecast period 2022-2030.
In Vitro Fertilization Market Synopsis
In vitro fertilization (IVF) has grown in popularity as an assisted reproduction technology for treating infertility and gestational surrogacy. An egg and sperm are joined in vitro during the IVF process. This method can be used to conceive in people who are unable to do so naturally. The number of women deferring pregnancies beyond 35 has significantly increased during the previous few years. Delay in pregnancy results in infertility. The processes for in vitro fertilization (IVF) have improved due to more understanding. IVF success rates have increased, and issues brought on by postponed conception have increased the global demand for in vitro fertilization methods. The rise also influences the usage of IVF operations in the number of postponed pregnancies.
The median age at which women and men marry and have their first child is rising. The number of women seeking in vitro fertilization (IVF) therapy has increased due to this trend. Due to its increased success rate, in vitro fertilization has emerged as the gold standard for infertility treatment. Infertile or childless couples choose to have children more frequently. In a laboratory, a donor or non-donor egg is impregnated either with a partner's sperm or a donor's sperm using this modern ART procedure. The in vitro fertilization market is anticipated to have considerable growth over the projected period due to the gradual rise in infertility rates brought on by delayed marriages and excessive use of contraception.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 34.9 Billion |
| CAGR | 5.7% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Devices, Reagents and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Surge in Fertility Medical Tourism and Progressive Technology Availability |
| Robust Regulatory Frameworks and High Average Conception Age. |
In Vitro Fertilization Market Competitive Landscape:
The core competitors in the in-vitro fertilization market are:
- Cooper Surgical Fertility
- Cook Medical
- Genea Limited
- Irvine Scientific
- Vitrolife
- Oxford Gene Technology
- Merck KGaA
- INVO Bioscience
- Thermo Fisher Scientific
- GENEA BIOMEDIX
In Vitro Fertilization Market Dynamics:
Market Drivers:
The reasons that drove the IVF market growth were the rising incidence of postponed pregnancies, improvements in IVF technology, and rising rates of infertility among couples. As a result of the reasons above, the market is anticipated to experience expansion over the given time frame. Due to the difficulties with IVF and the related socio-ethical problems, the market's growth is anticipated to be constrained over the forecast period. The rise in infertility cases worldwide is a primary driver of in vitro fertilization industry expansion. In vitro fertilization will continue to be in demand during the predicted period.
Similar to how the rapid development in IVF clinics and hospitals around the world would widen access to reproductive treatments, opening up opportunities for market growth. As more people become aware of the advantages of in vitro fertilization, the market for this procedure will continue to hold a significant portion of the overall market for infertility treatments. In addition, many women freeze their eggs to concentrate on their careers and have the child later. The increased reliance on fertility treatments will foster market expansion. The adoption of IVF operations is increasing due to the availability of funding.
Market Restraints:
Despite optimistic growth predictions, the IVF market is facing certain obstacles to expansion. These problems include the high cost of IVF procedures, inadequate payment rules, and declining IVF treatment success rates for older individuals as they age.
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COVID 19 Analysis
Since most nations have already implemented strategies to minimize and eradicate coronavirus infections, which have led to the closure of reproductive centers, the influence of the COVID-19 pandemic is anticipated to be considered on the market under study. The worldwide halt of in vitro fertilization procedures due to the COVID-19 epidemic significantly affected the women undergoing IVF procedures. Additionally, it stated that COVID-19 infection led to a lower percentage of high-quality embryos during the immediately succeeding IVF cycle and a negative impact on the patients' efficiency or ovarian reserve.
As a result, COVID-19 greatly influenced the market's expansion. Lockdowns caused by the COVID-19 outbreak in the US have somewhat restricted some IVF submarkets. The well-being of patients, employees, and society at large is prioritized in many hospitals. The information and recommendations from many sources provide a muddled image of the impact of COVID-19 on fertility treatments. The COVID-19 pandemic's commencement resulted in the cancellation of reproductive treatments, which psychologically impacted the women whose procedures were postponed.
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In Vitro Fertilization Market Segmentation
By reagents, the market includes cryopreservation media, embryo culture media, sperm processing media, and ovum processing media.
The market includes clinical research institutes, fertility clinics, and hospitals by end users.
By type, the market includes intracytoplasmic sperm injection, intrauterine insemination, and IVF using donor eggs.
By devices, the market includes imaging systems, ovum aspiration pumps, micromanipulators, sperm separation systems, and cryosystem.
In Vitro Fertilization Market Regional Insights
The North American market is the largest due to the presence of numerous top players in this region, regulatory reforms, rising prevalence of related conditions like standardization of procedures, polycystic ovary syndrome (PCOS), government money for sperm and egg storage, and continuous rise in the occurrence of infertility in both sexes. In addition, rising IVF use in the US, rising rates of infertility and embryo banking, technological developments in IVF treatment, and trends toward delayed pregnancy are all anticipated to pave the way for future growth of the US IVF industry.
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Comparing Asia-Pacific to industrialized nations, IVF costs are significantly lower in Asia-Pacific, particularly in India. IVF medical tourism is expected to increase in the region and support the expansion of the Asia-Pacific in vitro fertilization market. India's fertility centers may provide more patient-oriented therapies than the more developed countries because of lax legal restrictions and regulatory requirements, driving the growth of the IVF disposables market in the area.
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Fertility Testing Market Research Report: Information by Product (Ovulation Predictor Kits, Fertility Monitors, Male Fertility Testing Products and others), Sample (Saliva, Urine, Blood and others), Mode of Purchase (Prescription-Based and OTC-Based), End-User (Home Care Settings, Hospitals, Fertility Clinics and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Global Forecast till 2030
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