PUBLISHER: TechSci Research | PRODUCT CODE: 1221616
PUBLISHER: TechSci Research | PRODUCT CODE: 1221616
Vietnam In-Vitro Fertilization market stood at USD132.43 million in 2022 and is expected to register a CAGR of 7.47% during the forecast period. Rapid rise in the number of IVF clinics and hospitals in Vietnam will increase access to fertility treatments, thereby creating growth prospects within the Vietnam in-vitro fertilization market. According to the Vietnam Ministry of Health, the fertility rate in rural areas increased from 2.11 children per mother in 2010 to 2.29 children per mother in 2020. In-Vitro Fertilization is an assisted reproductive procedure wherein an egg is fertilized with a sperm artificially under laboratory conditions. In-Vitro Fertilization process involves monitoring and stimulating an individual's ovulatory process, extracting an ovum or ova from their ovaries, and letting sperm fertilize them in a culture medium in vitro. After fertilization, fertilized egg or embryo are transferred into the uterus. The completion of one In-Vitro Fertilization cycle generally takes about 3 weeks. In-Vitro Fertilization involves a series of steps which aids in child conception and preventing genetic disorders.
Infertility in women is mainly caused due to endometriosis, polycystic ovary disease, or obstruction of two uterus linings. Infertile men lack sperm due to testicular dysfunction, retrograde ejaculation, or insemination system obstruction. Sperm production or function can be affected by overexposure to certain environmental elements, including Industrial chemicals. Extended exposure to benzenes, toluene, xylene, herbicides, pesticides, organic solvents, painting materials and lead might contribute to low sperm counts. Drug and alcohol consumption patterns also impact men's sperm quality and count. Additionally, the egg count goes down with increasing age leading to problems in fertilization and conception in women. The normal aging process also increases the likelihood of miscarriage and giving birth to a child who has a genetic disorder. All the factors mentioned above along with the decreasing fertility rate in Vietnam are expected to increase the demand for in-vitro fertilization, thereby driving the market growth.
Vietnam is a popular destination for medical tourists seeking in-vitro Fertilization treatment, beauty, or dental care. The costs in Vietnam are reasonable, and the services are excellent. Additionally, travel agencies have collaborated with hospitals to plan medical tours, emphasizing the accessibility and high standards of these facilities, which appeal to tourists. Every year, more than 200 international patients receive infertility care at the Tu Du Obstetrics Hospital. About 400 international patients with infertility are treated at the hospital each year, some of whom are from Europe. According to Forbes magazine, the cost of an in-vitro Fertilization procedure in Vietnam is only a third of that in other ASEAN nations. Since the average cost of executing an in-vitro Fertilization in the United States is USD 20,000, the average price in Vietnam is only one-fourth that of the United States. Vietnam is expanding its fertility tourism industry. Since there are more In-Vitro Fertilization centers, the finest doctors and most recent technology available for offering treatment, along with affordable treatment expenses, among others, medical tourism has significantly increased in the country.
Due to the rising incidence of fertility issues, including erectile dysfunction and polycystic ovary syndrome, the risk of infertility is rising in Vietnam. Complications could arise due to significant lifestyle adjustments and the growing preference of working women to conceive later in life. Various things, including stress, alcohol consumption, lifestyle modification, and decreased sperm count and motility, causes infertility problems in men. A persistent rise in the prevalence of infertility in both sexes causes the need for artificial insemination. Artificial insemination techniques like intrauterine insemination (IUI), in vitro Fertilization (in-vitro Fertilization), etc., are the treatments for the infertility issues. Recent innovations, such as ICSI (Intracytoplasmic Sperm Injection), have improved embryo quality even with very low or abnormal sperm counts, increasing success rates. This in turn is expected to create lucrative opportunities for the growth of in-vitro fertilization market in Vietnam in the coming years.
Vietnam In-Vitro Fertilization is segmented into technique, product, egg donor, infertility, embryo, application, end user, region, and company. Based on technique, the market is divided into Intracytoplasmic Sperm Injection (ICSI IVF) and Non-ICSI/ Traditional IVF. Based on product, the market is categorized as IVF Culture Media, ICSI Machine, IVF Incubators, Cryo-system, and others. Based on Egg donor, the market is categorized into Frozen Non-donor, Fresh Non-donor, Frozen Donor, Fresh Donor. Based on Infertility, the market is divided into Male and Female. Based on embryo, the market is further classified into Fresh Embryo and Frozen-thawed Embryo. Based on Application, the market is divided into Fertility Clinics, Hospitals, and others. Based on End User, the market is divided into Locals, Expats, and Medical Tourists. In terms of regional analysis, the market is segmented into the Southern Vietnam, Northern Vietnam and Central Vietnam.
Hong Ngoc IVF Center, Vinmec Central Park International Hospital, Hoan My Thu Duc International General Hospital, Saigon International Obstetrics and Gynecology Hospital, Hanh Phuc International Hospital, Van Hanh General Hospital, Vietnam Belgium Andrology and Fertility Hospital, Hai Phong International Hospital for Obstetrics and Children, An Sinh hospitals, IVF Van Hanh, and Phuong Chau International Hospital are some of the leading companies operating in the market.
In this report, Vietnam In-Vitro Fertilization Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Vietnam In-Vitro Fertilization Market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: