PUBLISHER: Mordor Intelligence Pvt Ltd | PRODUCT CODE: 391330
PUBLISHER: Mordor Intelligence Pvt Ltd | PRODUCT CODE: 391330
The in vitro fertilization market was valued at approximately USD 685 million in 2020, and it is expected to witness a revenue of USD 1,102 million in 2026, registering a CAGR of 8.2% over the forecast period, 2021-2026.
The impact of the COVID-19 pandemic on the studied market is anticipated to be significant as most countries across the globe have adopted their own strategies to diminish and eliminate the spread of coronavirus. For instance, the healthcare sectors offering infertility treatments were in line with the recommendations provided by the WHO. Scientific societies, such as the European Society for Human Reproduction and Embryology and the American Society for Reproductive Medicine, have provided recommendations and guidance to overcome and flatten the growing curve of infection in patients who undergo IVF treatments. According to a research article titled "Suspension of fertility treatments during COVID-19 has mental health impacts", published in September 2020, the American Society of Reproductive Medicine and the Canadian Fertility and Andrology Society announced their recommendations to immediately and indefinitely suspend all in-person fertility treatments in the United States and Canada due to COVID-19 from March 17, 2020. As a result, 86% of couples in treatment reported that treatment suspensions had a negative impact on their mental health, and 52% reported clinically significant depression symptoms. Also, the recommendations included suspending initiation of new treatments and an alternative freeze-all protocol in cases where couples have already undergone human chorionic gonadotrophin triggering and consideration of cryopreservation of gametes for cases of urgent fertility preservation. Thus, the COVID-19 pandemic is expected to have a tremendous impact on the growth of the studied market.
The increasing awareness of advanced in vitro fertilization (IVF) techniques, rising success rates of IVF, and disorders due to the delayed onset of pregnancy have stimulated the demand for in vitro fertilization techniques across the world.
The proportion of women who are intentionally delaying pregnancies beyond the age of 35 years has been increasing in the past few years. Delay in pregnancy is a major cause of infertility. Delayed pregnancies, in many cases, lead to pregnancy-associated complications and an increased chance of infertility. According to the Centers for Disease Control and Prevention (CDC), about 10% of women (6.1 million) in the United States aged between 15-44 years have difficulty in getting pregnant or staying pregnant each year. Also, a study by the Hebrew University of Jerusalem revealed that sperm counts for men have more than halved over the last 40 years. As per the UN World Fertility report 2019, rapid fertility declines were observed in 77 countries globally and in areas where adolescent fertility declined by more than 50% between 1990-1995 and 2015-2020.
Furthermore, the key players' growing focus on research and strategic alliances is driving the market growth. For instance, in July 2019, Vitrolife signed a collaboration agreement with Prime Tech to develop and exclusively market the Piezo technique for improved Intracytoplasmic sperm injection (ICSI) procedure in human IVF globally, except for Japan, Thailand, and Malaysia.
Moreover, the increasing instances of delayed pregnancies are contributing to the higher adoption of IVF techniques. However, the complications associated with the IVF technique and the socio-ethical issues involved are expected to restrict the market's growth over the forecast period.
Sperm separation systems are used in most assisted reproductive technology (ART), such as in vitro fertilization (IVF) and artificial insemination. These systems are crucial for ARTs as they provide purified samples for further procedures. Furthermore, the rising focus of companies on developing novel devices for use in assisted reproductive technology (ART) procedures conducted by fertility clinics and obstetrician-gynecologist (OB/GYN) practices is driving the market growth. For instance, in March 2018, DxNow Inc. received US FDA 510(k) clearance of its ZyMot ICSI and ZyMot Multi Sperm Separation Devices. The devices are used to separate and prepare highly motile sperm with normal morphology and aid in assisted reproductive technology procedures. The ZyMot Multi (provided with 850µl and 3ml collection chambers) has an inlet port that communicates with the lower sample chamber. The sample chambers are separated by a microporous filter. Untreated semen is added through the inlet port, and after a period of time, the separated sperm are collected from the upper chamber through the outlet port.
Healthier sperm produce outcomes, such as improved progressive motility, a higher proportion of normal morphology, increased fertilization rates, and higher euploidy and pregnancy rates. The improved outcome associated with these devices may fuel their demand in the future.
Additionally, as per the research article published in BioRXiV, 2020, a new microchamber-based microfluidics platform was studied to separate only the progressively motile sperm directly from a raw semen sample in a short period of time of approximately 10 minutes. Hence, owing to the recent advancements and novel product launches, the market is expected to register a healthy CAGR over the forecast period.
The North American region is expected to witness significant growth in the in vitro fertilization market owing to the rising prevalence of associated conditions such as polycystic ovary syndrome (PCOS). A constant rise in the incidence of infertility in both sexes is projected to drive the studied market in the region.
As per the SingleCare online Survey, conducted in October 2020, 20% of the respondents received in vitro fertilization (IVF) in the United States. Additionally, 19% of the respondents reported polycystic ovarian syndrome (PCOS), and 25% reported unknown reasons for infertility. Thus, the high incidence of infertility is driving the studied market's growth.
Newly launched fertility centers and reimbursement policies for infertility treatment are among the factors driving the demand for infertility treatment devices in the region. For instance, as of August 2020, fertility insurance coverage laws had been passed in 19 states of the United States, 13 of those laws include IVF coverage, and 10 states have fertility preservation laws for iatrogenic (medically-induced) infertility. This will increase the treatment rate, thereby increasing the demand for fertility treatment devices. Additionally, in September 2020, Inception Fertility (Inception) launched a new network of clinics in Atlanta and Georgia named Pathways Fertility (Pathways) to shift the paradigm of the fertility market and enhance the patient experience. This may boost the treatment rate among the infertile population, thereby positively influencing the regional growth.
Furthermore, the presence of well-established market players, newly launched products, and increasing product approvals also pave the way for the market growth. In 2018, Cooper Companies Acquired the LifeGlobal Group, which is one of the leading providers of in vitro fertilization (IVF) devices, to expand its Fertility Solutions portfolio. Thus, owing to the huge base of the patient population, increasing product launches, the strong foothold of market players, and rising government support for fertility treatments, the market is likely to register a healthy CAGR.
The in vitro fertilization market is moderately competitive, with the key players dominating the market globally. However, several local players have control over a significant share of the market, despite the presence of major global players, such as Merck KGaA, Thermo Fisher Scientific Inc., Vitrolife AB, Nikon Corporation, and Fujifilm Holding Corporation. The key players have been evolving through strategies such as acquisitions and partnerships, along with new product launches, to sustain themselves in the global market. For instance, in May 2019, Hamilton Thorne Ltd launched the Dynamic Targeting System (DTS) option for its next-generation LYKOS laser system for the in vitro fertilization clinical market. Additionally, in August 2019, Hamilton Thorne Inc. acquired Planer Limited, one of the leading manufacturers of incubators, control rate freezers, and lab monitoring systems for the assisted reproductive technology (ART) and cell biology markets worldwide and a provider of related services in the United Kingdom.