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In Vitro Fertilization (IVF) Market- insightSLICE
The global in vitro fertilization (IVF) market was estimated to be US$ 23.40 Billion in 2022 and is expected to reach US$ 41.40 Billion by 2032.
The Europe segment currently dominates the IVF market. Factors contributing to the growth in this region include legal revisions related to in vitro fertility techniques & the rise of medical tourism.” - insightSLICESANTA ROSA, CALIFORNIA, UNITED STATES, July 17, 2023/einpresswire.com / -- The Global In Vitro Fertilization (IVF) Market Share, Trends, Analysis, and Forecasts for 2023-2032 present extensive information on the latest trends, factors driving market growth, potential opportunities, and challenges that may impact the industry's market dynamics. It offers a detailed examination of various market segments, such as instruments, procedures, end-users, and the competitive landscape.
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The Global in vitro fertilization (IVF) Market was estimated to be US$ 23.40 Billion in 2022 and is expected to reach US$ 41.40 Billion by 2032 at a CAGR of 5.7%.
In vitro fertilization (IVF) is one of the most widely used assisted reproductive technologies (ARTs), which combines the use of medicines and surgical procedures. in vitro fertilization (IVF) treatment involves extracting eggs, retrieving a sperm sample, and combining the eggs and sperm in a laboratory for fertilization. The growing popularity of IVF and ICSI treatments is expected to increase the adoption of in vitro fertilization (IVF) treatment during the forecast period.
Factors Driving Growth of Global In Vitro Fertilization Market
The key factor driving the growth of the global in vitro fertilization (IVF) market is the delay in pregnancies. The average age of men and women having their first child is increasing, leading to many women choosing to freeze their eggs for later use. This trend has significantly contributed to the enhancement of the global in vitro fertilization (IVF) market.
Another factor driving the growth of the global in vitro fertilization (IVF) market is the rising interest in fertility tourism. Factors that augment the growth of fertility tourism include increased interest in having children, individuals becoming more conscious about the availability of fertility treatments, and limited access to desired healthcare facilities or unaffordable treatment options in their home country. This leads to the migration of individuals seeking fertility tourism to fulfil their desire to have children.
Segmentation of Global In Vitro Fertilization Market
The Global in vitro fertilization (IVF) market is segmented based on instrument type, procedure type, and end user.
In terms of instrument type, the culture media segment is currently dominating the market for in vitro fertility treatment. Factors such as increased research activities and the availability of funding to improve culture media are contributing to the growth of this segment. Additionally, the introduction of disposable devices like needles, slides, and chambers by industry players to meet sterility and regulatory requirements is expected to drive the growth of the disposable devices segment, which is estimated to be the fastest-growing segment.
In terms of procedure type, the frozen non-donor segment is currently dominating the in vitro fertilization (IVF) market and is expected to experience the fastest growth during the forecast period. This segment is favoured due to its cost-effectiveness compared to fresh non-donor procedures and its less-invasive nature. The fresh non-donor segment follows closely, registering the second-highest revenue share.
When it comes to end users, fertility clinics dominate the market for in vitro fertilization (IVF). The increasing demand for ART treatments has led to a rise in the number of fertility clinics and ART centres. Factors such as the availability of specialists, cost-effectiveness, and a lower risk of acquiring Hospital-acquired Infections (HAIs) are driving the growth of fertility clinics.
Regional Trends in the Global In Vitro Fertilization Market
The global in vitro fertilization (IVF) market is divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America based on geography.
The Europe segment currently dominates the in vitro fertilization (IVF) market. Factors contributing to the growth in this region include legal revisions related to in vitro fertility techniques and the rise of medical tourism. During the forecast years, many people from the U.S. are travelling to the Czech Republic to access in vitro fertility treatments at lower costs.
In the Asia-Pacific region, the global in vitro fertility market is expected to experience significant growth during the forecast period. Factors such as fertility tourism, increasing foreign investment to penetrate economically developing countries, and the changing regulatory landscape contribute to the anticipated boom in demand for IVF treatment in the Asia-Pacific region.
North America is also expected to witness growth in the in vitro fertilization (IVF) market in the coming years. Government funding for egg/sperm storage, regulatory reforms, standardization of procedures through automation, and the introduction of more in vitro fertilization (IVF) treatments are some of the factors contributing to the growth of the in vitro fertilization (IVF) market in North America. The region has also seen an increase in infertility cases due to lifestyle changes such as obesity, stress, improper eating habits, lack of nutrition, and lack of exercise.
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Key players in the global in vitro fertility market include Vitrolife AB, Irvine Scientific, Cook Medical Inc., Cooper Surgical Inc., Ova Science, EMD Serono Inc., Genea Biomedx, Thermo Fisher Scientific Inc., Progeny, Inc., and Boston IVF.
MARKET SEGMENTATION
Based on Instrument:
.Disposable Devices
.Culture Media
.Capital Equipment
Based on Procedure Type:
.Frozen Donor
.Fresh Donor
.Fresh Non- Donor
.Frozen Non -Donor
Based on End-User:
.Fertility Clinics
.Hospitals & Other settings
Based on Region
. North America
United States
Canada
Rest of North America
. Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
. Asia Pacific
Japan
India
China
Australia
South Korea
Rest of Asia Pacific
. Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of the Middle East & Africa
. South America
Brazil
Rest of South America
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