PUBLISHER: Allied Market Research | PRODUCT CODE: 1446395
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446395
The growth of the global IVF devices and consumables market is majorly driven by an increase in trend of delayed pregnancies, surge in awareness about fertility treatments, and technological advancements in IVF devices. Furthermore, the rise in infertility rates globally has been a significant driver of the IVF devices and consumables market. Moreover, lifestyle changes, delayed pregnancies, and various medical conditions contribute to higher incidences of infertility, prompting individuals and couples to seek assisted reproductive technologies.
In addition, the increase in the number of fertility clinics across the globe has improved accessibility to IVF procedures. As these clinics expand their reach to smaller cities and towns, more people are becoming aware of the availability of various IVF procedures and treatments. This rise in awareness, coupled with advancements in medical technologies, is expected to increase the demand for IVF devices and consumables during the forecast period.
Furthermore, government initiatives and policies supporting infertility treatments, including financial assistance and insurance coverage, surge in number of gamete donations, and increase in healthcare expenditure worldwide act as the key driving forces of the global market. Moreover, increased awareness about fertility treatments, coupled with a reduction in social stigma surrounding infertility, has led to greater acceptance of IVF as a viable solution, which is expected to drive the market growth. For instance, the National Infertility Awareness Week (NIAW) in April 2022 shed light on the commonality of fertility issues, with 186 million individuals and 48 million couples worldwide facing fertility issues. The change in societal attitudes has expanded the market by encouraging more people to consider assisted reproductive technologies.
However, higher cost of treatment, complications associated with IVF, and lack of awareness among the population especially in underdeveloped economies impede market growth. In contrast, surge in number of fertility clinics & service providers and high growth potential in emerging countries are anticipated to provides lucrative opportunity for the market growth during the forecast period.
The global IVF devices and consumables market is segmented into product, technology, end user, and region. By product, the market is classified into instruments, accessories & disposables, and reagents & media. The instruments segment is further categorized into sperm separation systems, cryosystems, incubators, imaging systems, ovum aspiration pumps, cabinets, micromanipulators, and others. The reagents & media is sub segmented into cryopreservation media, semen processing media, ovum processing media, and embryo culture media.
By technology, the market is classified into fresh embryo IVF, frozen embryo IVF, and donor egg IVF. Depending on end user, it is segregated into fertility clinics, hospital, surgical centers, and clinical research institutes. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players that operate in the global IVF devices and consumables market are Cook Group, Cooper Companies, Inc. Genea Limited, Fujifilm Holdings Corporation, Hamilton Thorne Ltd., Vitrolife AB, Esco Micro Pte. Ltd., Nidacon International AB, Kitazato Corporation, and Thermo Fisher Scientific, Inc. These players have adopted product launch, expansion, agreement, acquisition, and collaboration as their key strategies to expand their product portfolio and strengthen their foothold in the market.
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