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Market Research Report
Product code
1008063
In-Vitro Fertilization (IVF) Market 2020-2026 |
In-Vitro Fertilization (IVF) Market 2020-2026 |
Published: April 7, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
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Global In-Vitro Fertilization (IVF) Market By Procedure Type (Frozen Donor, Frozen Non-Donor, Fresh Donor, Fresh Non-Donor, Embryo Banking), By Product (Reagents, Equipment, and Software), By End-User (Hospitals and Research Laboratories, Fertility Clinics and Surgical Centers, and Others), Forecast Period 2021-2027
The global in-vitro fertilization (IVF) market is growing at a significant CAGR of nearly 9.6% during the forecast period. IVF plays a vital role in the health care sector for the treatment of infertility. It is a series of procedures that are used to prevent genetic problems and treat infertility while supporting the conception of a child. Under the IVF procedure, a woman's egg and a man's sperm are combined in a laboratory dish and then it is transferred to a uterus. There is five procedure involved in the IVF procedure such as medication, harvest the eggs, fertilization, embryo culture, and embryo transfer.
A full cycle of IVF can take about three weeks. It is a primary treatment that is suggested for women with infertility problem above the age of 40. IVF can be done by two fertilization techniques that are insemination and intracytoplasmic sperm injection (ICSI). The devices that are used for this treatment are the special microscope, incubators, ultrasound machines, IVF disposables and other such devices. It can be done if people and their partner have problems such as ovulation disorders, unexplained infertility, endometriosis, uterine fibroids, among other problems.
An increasing prevalence of infertility is leading to increasing demand for IVF procedure and thereby is driving the market growth. Additionally, the increasing trends of assisted reproductive technology and favorable government initiatives to increase the accessibility of infertility treatment are further driving the growth of the market. However, some factors are restraining the market growth include high cost associated with the treatment, and the risk associated with the IVF treatment such as multiple births, miscarriage, egg-retrieval procedure complications, premature delivery and low birth weight, and ectopic pregnancy, among others. However, the expansion of infertility clinics is offering an opportunity for market growth.
Segmental Outlook
The market is segmented based on procedure type, product, and end-user. Based on procedure type, the market is segmented into the frozen donor, frozen non-donor, fresh donor, and fresh non-donor. Based on the product, the market is segmented into reagents, equipment, and software. Based on the end-user, the market is segmented into hospitals and research laboratories, fertility clinics and surgical centers, and others.
Global IVF Market Share by End User, 2020 (%)
Source: OMR Global
Fertility Clinics and Surgical Centers to Witness Fastest Growth During the Forecast Period
Expansion of fertility clinics is one of the major factors resulting in a potential share of fertility clinics and surgical centers. Rising incidences of infertility have resulted in the expansion of fertility clinics and surgical centers. For instance, in November 2020, Nova IVF Fertility launched a new state-of-the-art IVF center in Kolkata, India. The center is led by highly qualified IVF specialists, trained embryologists, Global Standards and Protocols, the latest embryology lab, and a comprehensive range of fertility solutions. Other major fertility clinics focusing on the expansion of their centers globally include IntegraMed America, Inc. and Western Fertility Institute.
Regional Outlook
The market is analyzed based on geographical regions such as North America, Europe, Asia Pacific, and the Rest of the World. Europe is one of the major markets for IVF treatment globally. Rising incidences of infertility and rising medical tourism are some factors accelerating the demand for IVF treatment across Europe. As per the Fertility Europe VZW data published in October 2020, over 25 million citizens are affected by infertility across Europe. Additionally, significant focus on advanced technologies and the availability of IVF treatment at low cost are some of the major causes that are surging the market growth in Europe.
Global IVF Market Growth by Region, 2021-2027
Source: OMR Global
Asia-Pacific is Expected to Witness Potential Share in the Market During the Forecast Period
Asia-Pacific is estimated to be the fastest-growing market during the forecast period. Several factors are driving the growth of the market such as increasing ovulation disorder in women, increasing trends of assisted reproduction technology, and increasing rate of infertility. Additionally, government initiatives for fertility treatment are expected to offer an opportunity for market growth. For instance, in November 2017, the Telangana government (Indian state) declared that it will start fertility centers at government hospitals to increase the accessibility of infertility treatment among couples. This, in turn, is expected to further drive the market growth in the region.
Market Players Outlook
Key players operating in the market include CooperSurgical, Inc., Vitrolife AB, Thermo Fisher Scientific Inc., Merck KGaA, and Fujifilm Holdings Corp. To survive in the market, these market players adopt different marketing strategies such as merger and acquisitions, product launches, and geographical expansion to expand their market share. For instance, in February 2021, TMRW Life Sciences declared that it has launched the world's first automated cryo specimen management solution for embryos and eggs used in IVF. TMRW's proprietary platform has been installed in multiple premier fertility clinics in the US, launching the modern era of integrated, software-enabled management of the millions of eggs and embryos central to modern IVF. The company is expanding globally and declared that it will be in UK-based fertility clinics in the summer of 2021.
The Report Covers
Market value data analysis of 2020 and forecast to 2027.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global IVF market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.