In Vitro Fertilization Market Size Worth USD 51.73 Billion in 2032 | Emergen Research

Vancouver, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The global In Vitro Fertilization (IVF) market size is expected to reach USD 51.73 Billion in 2032 and register a revenue CAGR of 9.1% during the forecast period. In vitro fertilization market revenue growth is driven by rising infertility rates, attributable to adoption of sedentary lifestyle and medical conditions and disease. Increase in incidence of male and female infertility and growing number of women in the workforce are other factors driving market revenue growth. Advancement in IVF treatments has opened up new potential opportunities with positive results of IVF procedures. Researchers have developed methods that are used beforehand to improve the effective rate of in-vitro fertilization.

Behavioral changes in global population along with increasing number of women in the workforce, late pregnancy decisions, shift from rural to urban communities, declining marriage rates, and rise in trend of same sex marriages are factors fueling growth of the market. According to the American Society for Reproductive Medicine (ASRM), approximately 6.7 million people in the U.S. are impacted by failure to get pregnant, which accounts for around 11.0% of the pregnant population in the country. Besides, 25% of people in the U.S. have more than one infertility cause.

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Rise in consumer awareness about infertility treatments and enhancement in various IVF therapies is propelling market revenue growth. Researchers are developing new methods to improve efficiency of artificial reproductive technology. Specific methods such as aided hatching, vitrification, processing of egg/sperm, percutaneous epididymal sperm accumulation and testicular sperm retrieval (PESA and TESE), mini-IVF, tri-parent IVF, and genetic testing are contributing to growth of the market.

Increased investment in research & development in IVF procedures and development of new products, rising investment by governments worldwide, and emergence of various public and private diagnostic centers are contributing significantly to growth of the market. For instance, Gulf Capital, in March 2021, announced a three-year growth plan to expand the number of fertility clinics in Southeast Asia, India, GCC and European countries. The ambitious project will witness a two-year roll out of 18 clinics across India.

In vitro fertilization is an expensive procedure. Even though advancement in technology has significantly reduced the cost of IVF, it is still not feasible for most of the middle-class population. COVID-19 has impacted the global economy and financial condition of the working-class population, which in turn has restricted spending on expensive IVF procedures. Moreover, issues such as multiple births and health risks is hampering market growth.

Scope of Research

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MAJOR COMPANIES and Competitive Landscape

The global in vitro fertilization market is fragmented, with a number of small- and medium-sized players accounting for majority revenue share. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient product and services in the in vitro fertilization market. Some major players operating in the market are:

• Vitrolife AB
• CooperSurgical, Inc.
• Thermo Fisher Scientific Inc.
• The Baker Company, Inc.
• Kitazato Corporation
• Cook Medical, Inc.
• Esco Micro Pte. Ltd.
• OvaScience
• Boston IVF
• EMD Serono Inc.

Strategic Development

In June 2020, Ferring Pharmaceuticals announced a two-year collaboration with Igenomix for researching innovative disease mechanisms and targets discovery in conditions associated with infertility and pregnancy, such as preeclampsia, for developing groundbreaking diagnostic and therapeutic approaches for catering high unmet demand. A new hub in Boston was created which will bring experts from both companies and the focus is to investigate molecular structures, develop functional genomic systems and create tools to study embryo implantation among others.

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.

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Some Key Highlights From the Report

• Fresh non-donors segment accounted for a significant revenue share in 2020 attributed to high pregnancy success rates and rising prevalence of infertility. The fertility cycle is 19.0% and likely to be successful in a live birth with a fresh egg as opposed to a frozen egg.
• Hospitals and research laboratories segment accounted for a significantly large revenue share in 2020. Factors such as well-resourced operating & surgical rooms, presence of highly skilled healthcare professionals, and enhanced health coverage for healthcare services from various plans for private and group insurance are driving demand for assisted reproductive technology in hospitals.
• Reagents segment accounted for a significantly larger revenue share in 2020 due to surge in number of in vitro fertilization procedures. Use of cryopreservation media, ovum processing media, embryo culture media, and sperm processing media is contributing to revenue growth of this segment.

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Emergen Research has segmented the global In Vitro Fertilization market on the basis of procedure, product, end-use, and region:

• Procedure Outlook (Revenue, USD Billion; 2019-2032)
  • Fresh Donor
  • Fresh Non-Donor
  • Frozen Donor
  • Frozen Non-Donor
• Product Outlook (Revenue, USD Billion; 2019-2032)
  • Reagents
    1. Cryopreservation media
    2. Ovum processing media
    3. Embryo culture media
    4. Sperm processing media
  • Equipment
    1. Sperm separation system
    2. Imaging system
    3. Cabinet
    4. Incubators
    5. Ovum aspiration pump
    6. Micro manipulation system
    7. Gas analyzer
    8. Accessories
    9. Anti-vibration tables
    10. Laser system
    11. Cryosystems
    12. Witness system
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals and research laboratories
  • Fertility clinics and surgical centers
  • Cryobanks
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Spain
    5. BENELUX
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Israel
    4. Rest Of MEA

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