PUBLISHER: DelveInsight | PRODUCT CODE: 1397166
PUBLISHER: DelveInsight | PRODUCT CODE: 1397166
In Vitro Fertilization Market By Product (Instrument [Imaging Systems, Incubators, Cryosystems, Ivf Cabinet, Sperm Separation Devices, Ovum Aspiration Pump, And Others] And Reagent), End-User (Hospitals, Fertility Clinics, And Others), and geography is expected to grow at a steady CAGR forecast till 2028 owing to the increasing cases of infertility and delay in pregnancies.
The global in vitro fertilization market is estimated to grow at a CAGR of 6.31% during the forecast period from 2023 to 2028. The demand for in vitro fertilization is primarily being boosted by the increasing cases of infertility among both men and women, delayed onset of pregnancies, issues pertaining to sexual health, rising success rate of IVF technology, the growing obesity rate, introduction of advanced and extended fertility treatment of IVF i.e. intracytoplasmic sperm injection (ICSI), increasing product launches and approvals, and innovation in product development among others, thereby contribute to the overall growth of the in vitro fertilization market during the forecast period from 2023-2028.
The rising prevalence of infertility and its risk factors across the globe will increase the overall market of in vitro fertilization. Infertility affects a significant percentage of couples worldwide, and the desire to conceive has fueled the demand for fertility-related products and services. The data published by the Organization for Economic Co-operation and Development (OECD) 2023 says that in 2021 the total fertility rate (TFR) in Korea, France, Sweden, and Switzerland was 0.81, 1.80, 1.67, and 1.51 respectively which is less than average TFR of 2.1.
As per the above-mentioned source, the TFR for most of the countries in 2020 was below the average TFR with Australia having a TFR of 1.58, Canada at 1.50, China at 1.70, the United States at 1.64, the United Kingdom at 1.56, Spain 1.36, Japan 1.33, and South Korea with 0.84 TFR.
The World Health Organization (WHO) 2023 estimates suggest that approximately one in every six people of reproductive age worldwide experience infertility in their lifetime.
According to World Bank 2022, the total fertility rate (TFR) in most of the regions including North and South America to Europe and Asia-Pacific was 1.6 in 2020 which is comparatively lower than the average TFR of 2.1.
The increasing infertility among the different regions across the globe will increase the demand for in vitro fertilization (IVF) during the forecast period.
In addition, there's a rising push by the government and other groups to start several public education programs regarding reproductive health, available treatments, and the causes of infertility problems. For example, Pinnacle Fertility started the Save IVF campaign in August 2022 to raise awareness about possible new laws that could endanger family-building procedures. In honor of World IVF Day, Oasis Fertility also started the Infertility Knows No Gender campaign in July 2022. Millions of infertile couples have a glimmer of hope because of in vitro fertilization (IVF).
Furthermore, the increasing launches of IVF facilities and new technologies across the globe for providing better services are also contributing to segment growth. For instance, in August 2022, the Rejuvenating Fertility Center (RFC) launched Injection-Free IVF or Needle-Free IVF procedures. This non-conventional holistic treatment uses oral and nasal fertility drugs to stimulate the patient's ovaries during in vitro fertilization (IVF). This gently stimulates the ovaries to produce multiple higher-quality eggs. Such developments are expected to increase the demand for needleless IVF treatment.
Therefore, the above-mentioned factors will propel the in vitro fertilization market during the forecast period from 2023-2028.
However, false positive results, low coverage, or absence of insurance in the emerging market, and others may restrict the growth of the overall in vitro fertilization market.
In Vitro Fertilization Market by Product (Instrument [Imaging Systems, Incubators, Cryosystems, IVF Cabinet, Sperm Separation Devices, Ovum Aspiration Pump, and Others] and Reagent), End-User (Hospitals, Fertility Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In the product segment of the in vitro fertilization market, the sperm separation devices category is expected to amass a significant revenue share in the year 2022. This can be ascribed to the advantages and applications associated with the segment.
In most assisted reproductive technologies (ART), such as in vitro fertilization (IVF) and artificial insemination, sperm separation systems are used. These systems are critical for assisted reproductive technologies (ARTs) because they provide purified samples that can be used in subsequent procedures. These systems are crucial for ARTs as they provide purified samples for further procedures.
The market is predicted to rise as a result of the growing usage of cutting-edge technologies, such as sperm syringes, in the process of choosing high-quality sperm. With a sperm syringe, a highly parallelized and quick sorting mechanism is made possible by providing the maximal contact area between 1.5 ml of the semen sample and selection events. This retrieval efficiency allows for more frequent avoidance of the more invasive intracytoplasmic sperm injection (ICSI) method by providing a sufficient volume and number of high-quality sperm for droplet-based IVF and intrauterine insemination (IUI). Additionally, compared to intracytoplasmic sperm injection, sperm syringes provide clinics with a viable alternative for implementing less invasive assisted reproductive technologies (ARTs), hence minimizing the associated clinical strain and enhancing the long-term health outcomes for ART-conceived infants.
Therefore, owing to the above-mentioned factors, the sperm separation devices category is expected to register significant growth, thereby driving the growth of the overall in vitro fertilization market during the forecast period.
Among all the regions, North America is estimated to account for the largest share of the In Vitro Fertilization market in the year 2022. Owing to the significance of key growth factors such as the rising prevalence of associated conditions such as polycystic ovary syndrome (PCOS), standardization of procedures, government funding for sperm and egg storage, a constant rise in the incidence of infertility in both sexes, the presence of various leading players in this region, the growing number of single women and same-sex couples, and favorable regulatory reforms, presence of key players, increasing product development activities, and others, the market for in vitro fertilization is expected to witness prosperity in the region during the forecast period 2022-2028.
As per the data provided by the Centers for Disease Control and Prevention (CDC) 2023, in the United States, among married women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women have difficulty getting pregnant or carrying a pregnancy to term (impaired fecundity). Also, infertility and impaired fecundity are less common among women with one or more prior births. About 6% of married women aged 15 to 49 years are unable to get pregnant after one year of trying and 14% have difficulty getting pregnant or carrying a pregnancy to term.
Canada is a low-fertility country or below the no-migration population replacement level of 2.1 children per woman. As per Statistics Canada 2022, the country's fertility rate decreased from 1.47 children per woman in 2019 to a record low of 1.40 children per woman in 2020.
The World Population Data Sheet 2022, stated that in 2022, the fertility rate in Mexico was 1.8 children per woman.
As per the OECD datasheet 2020, it was estimated that by 2050, the fertility rate in Mexico will amount to 1.72 children per woman.
Thus, from the above sources it can be concluded that the prevalence of infertility is increasing in different countries within the North American region.
The increasing adoption of various business strategies such as acquisitions, partnerships, and others by the companies increases the introduction of advanced fertility treatment centers and options, which is anticipated to propel market growth. For instance, in December 2021, Cooper Companies acquired Generate Life Sciences, a provider of donor eggs and sperm for fertility treatments, fertility cryopreservation services, and newborn stem cell storage (cord blood and cord tissue) for approximately USD 1.6 billion. With this acquisition, CooperSurgical can offer fertility clinics, Obstetrics, and Gynaecology even stronger services and products.
Thus, the above-mentioned factors are likely to propel the growth of the in vitro fertilization market in the region during the forecast period from 2023-2028.
Some of the key market players operating in the in vitro fertilization market include: CooperSurgical, Inc., Cook Medical, FUJIFILM Holdings America Corporation, Genea Biomedx, Hamilton Thorne, Merck KGaA, SRL Diagnostic, Nikon Instruments Inc., Thermo Fisher Scientific Inc., Vitrolife, Sysmex Corporation, Rocket Medical plc., Menicon Co. Ltd., LensHooke, Promega Corporation, and others.