(Health-NewsWire.Net, November 25, 2021 ) The global in vitro fertilization market is projected to reach USD 987 million by 2026 from USD 638 million in 2021, at a CAGR of 9.1% from 2021 to 2026. The key factors propelling the growth of this market include an increase in the median age of first-time mothers, declining fertility rates, rising male infertility, rise in obesity rate and growing consumption of alcohol, and greater public awareness about infertility and the availability of treatment options.
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Opportunity: Increasing Medical Tourism in Emerging Nations
The medical tourism industry in emerging countries is thriving owing to a number of factors. Brazil has ~150 centers offering infertility treatments and over 20 medical centers [Source: Fertility Treatment Abroad]. A typical IVF cycle in the US costs around USD 12,000, whereas in Brazil, the same can be completed in USD 4,000. With more than 500 individual IVF centers, India is one of the most affordable destinations for in vitro fertilization (IVF) and other infertility treatments worldwide. Healthcare treatments cost up to 90% less in India as compared to the USA typical IVF cycle in the US costs around USD 12,000, while in India, the same can be completed in USD 2,000–USD 3,000.
The equipment to capture the largest share in in vitro fertilization market, by products during the forecast period.
The equipment segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the increasing number of IVF procedures and introduction of highly advanced IVF equipment by well-established manufacturers in the market.
The fresh non-donor segment to capture the largest market share of in vitro fertilization market, by the type of cycle in 2021.
The fresh non-donor segment captured the largest share of the in vitro fertilization market cycles during the forecast period. High success rates, ease in the implantation process, and enhanced embryo production are responsible for the large share of this segment.
The IVF with ICSI segment registered the highest growth rate of the in vitro fertilization market, by type, in 2021.
The IVF with ICSI segment registered the highest growth rate of the in vitro fertilization market. The success rate of fertilization with ICSI procedure, and the growing utilization of the ICSI during IVF procedure are anticipated to boost the adoption of IVF with ICSI procedures, accelerating the growth of the segment during the forecast period.
The fertility clinics segment accounted for the largest share of the in vitro fertilization market, by end user, in 2021.
The rising government initiatives to establish fertility clinics, initiatives taken by large international healthcare providers to establish fertility centers, growing popularity of IVF & ICSI treatment globally are some of the factors likely to contribute towards the rapid growth of the segment.
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Asia Pacific is the largest regional market for in vitro fertilization market
Asia Pacific dominates the in vitro fertilization market. Significant rise in the medical tourism, Increase in the awareness of availability of in vitro fertilization procedures, reduced IVF treatment procedures, growing fertility clinics in the region, rising healthcare expenditures, and growing adoption of assisted reproductive technology in the emerging nations.
Key Market Players
The prominent players operating in the global in vitro fertilization market include The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Corning Corporation (US), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), and Eppendorf (Germany).
Mr. Aashish Mehra