(MENAFN- GlobeNewsWire - Nasdaq) Rockville, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The global IVF devices market is valued at US$ 3.12 billion in 2023 and is predicted to reach US$ 17.77 billion by 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Rapidly increasing infertility rates among men and women are boosting sales growth. IVF is also becoming more popular among fertile couples who have hereditary illnesses and don't want to pass them on to their offspring. Advancements in technologies and rising medical tourism across several countries are boosting the demand for in-vitro fertilization (ivf) devices .
A type of assisted reproduction technology known as in-vitro fertilization (IVF) involves the artificial fertilization of the ovum in a lab environment before the ovum is transferred into the uterus. One of the often utilized methods is IVF for helping infertile couples, single parents, and individuals from the LGBT community to have children.
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Key Takeaways from Market Study
The global IVF devices market is expected to surge ahead at a CAGR of 19% from 2023 to 2033. Growing infertility rates in Japan are boosting the demand for IVF devices in the nation. The United States is currently dominating the North American IVF devices market. Germany is a leading market in the European region due to the presence of well-established IVF facilities.
“Rising trend of late marriages and planning for babies at an older age is boosting the demand for IVF devices,” says a Fact.MR analyst.
Recent Market Developments
The University of Adelaide and the medical technology business Fertilis introduced an innovative new micro-device in May 2022 to speed up the only reproductive treatment option for males with low semen parameters. Cooper Company purchased Generate Life Sciences in 2021. This company was one of the top suppliers of donor eggs and sperm for assisted reproduction treatments, reproductive cryopreservation services, and neonatal stem cell storage. One of the most well-established IVF treatment providers in the world, Boston IVF, partnered with the Delaware Institute for Reproductive Medicine in January 2022. Through cutting-edge procedures such as in-vitro fertilization (IVF), preimplantation genetic screening, male infertility, and others, the special alliance strives to provide top-notch reproductive treatments and care locally.
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Competitive Landscape
Key players in the IVF devices market are producing technologically advanced IVF devices to maintain their market position and increase revenue shares. Major IVF device companies are also focusing on regional expansion by improving local supply chain management systems, changing pricing trends from region to region, and partnerships & collaborations with local IVF device providers.
Cook Medical introduced the MINC+ benchtop incubator, a new generation product, in May 2022 in North America. It consists of the DishTrace platform, created to combine capabilities between a PC software application and an incubator touchscreen for several dish-data management solutions.
Key Player's Profiled
Cook Group Coopersurgical Fertility Company FUJIFILM Irvine Scientific Thermo Fisher Scientific Fertilis EMD Serono Inc. Vitrolife AB
Trivector Biomed LLP unveiled the ZyMt sperm separation device in October 2020. It is a cutting-edge 'Lab-On-Chip' IVF system. For effective outcomes, separation devices are state-of-the-art labs-on-a-chip that effectively separates the healthiest, fast-developing sperm using microfluidics and micro-filtration technology.
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Key Segments of IVF Devices Industry Research
By Product : Instruments Accessories & Disposables Reagents & Media
By Technology : Fresh Embryo IVF Frozen Embryo IVF Donor Egg IVF
By End User : Hospitals Fertility Clinics Surgical Centers Clinical Research Institutes
By Region : North America Latin America Europe East Asia South Asia & Oceania MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global IVF devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of product (instruments, accessories & disposables, reagents & media), technology (fresh embryo IVF, frozen embryo IVF, donor egg IVF), and end user (hospitals, fertility clinics, surgical centers, clinical research institutes), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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