New York, USA, April 24, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global in-vitro fertilization microscopes market is expected to garner $250.4 million in revenue, rising at a fascinating CAGR of 9.4% over the estimated period from 2022 to 2031.
As per our analysts, the growing impact of infertility on people’s lives, and the increasing awareness of in-vitro fertilization among individuals are expected to bolster the growth of the in-vitro fertilization microscopes market over the analysis timeframe. Besides, the high success rate of IVF is further expected to fortify the growth of the market over the forecast period. Moreover, the increasing investments in R&D activities and technological advancements are majorly expected to create excellent growth opportunities for the market over the forecast timeframe. However, the high cost of microscopes may hinder the growth of the market over the estimated period.
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Segments of the In-vitro Fertilization Microscopes Market
The report has divided the market into segments based on type, end-user, and region.
Type: Embryo Microscope Sub-Segment to be Most Lucrative
The embryo microscope sub-segment held the largest market share in 2021. The embryo microscope is designed to capture images of embryos grown in an incubator and allow doctors to observe the embryos without removing them from the incubator which is expected to augment the growth of the market sub-segment over the analysis timeframe.
End-User: Clinical Sub-Segment to be Most Productive
The clinical sub-segment registered the highest revenue in 2021. This is mainly because IVF clinics provide a wide range of services including ICSI, embryo monitoring, sperm analysis, and many more. In addition, the increasing trend of developing products and receiving private investor investments in IVF clinics is expected to fortify the growth of the market sub-segment over the forecast period.
Region: Europe Region to Held the Maximum Market Share in 2021
The Europe region of the in-vitro fertilization microscopes market generated the highest market share in 2021. The increasing implementation of a variety of strategies such as product launches and research initiatives by leading market players across the region is expected to drive the regional growth of the market over the estimated timeframe.
Covid-19 Impact on the In-vitro Fertilization Microscopes Market
The outbreak of the Covid-19 pandemic brought numerous uncertainties across various businesses. The in-vitro fertilization microscopes market also experienced a negative impact with the rise of the pandemic. The closure of manufacturing companies, disruptions in supply chains, import-export restrictions, and the economic slowdown across various countries have lowered the demand for microscopes during the pandemic period. Moreover, the suspension of IVF procedures over the crisis to avoid the risk of infection as patients need to visit the clinic every week has declined the growth of the market.
Key Players of the In-vitro Fertilization Microscopes Market
The major players of the in-vitro fertilization microscopes market include
- Euromex Microscope B.V.
- Zeiss
- Labomed Europe B.V.
- Meiji Techno
- Nikon Corporation
- Leica Microsystems
- Linkam Scientific Instruments
- Narishige Group
- Leica Microsystems
- Eppendorf AG
- Hamilton Thorne Ltd.
- Olympus Corporation
For instance, in July 2022, Esco Lifesciences Group, a Singapore-based international brand that develops manufactures, and sells products and services for laboratories announced its acquisition of Evidence Solution, a leading software company. With this acquisition, the companies aimed to offer In Vitro Fertilization (IVF) management technologies and quality management systems for IVF clinics to prevent treatment errors.
Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about In-vitro Fertilization Microscopes Market:
- In-vitro Fertilization Microscopes: Advancements, Challenges, and Future Developments
- Growing Awareness of In-Vitro Fertilization Microscopes Market Expected to Propel the Growth of the Global In-Vitro Fertilization Microscopes Market by 2031
