In-Vitro Fertilization (IVF) Market Analysis by Key Players, Trends, Insights, Dynamics, Outlook, Applications, SWOT Analysis, Profile, Growth and Segmentation, Forecast to 2023. As per the latest report published by Market Research Report, the global In-Vitro Fertilization (IVF) Market will witness an impressive CAGR of 10.50% from 2018 to 2023 and reach a valuation of over USD 12,700 Mn. IVF is a landmark achievement in assistive reproductive technology, which has become extremely popular in recent years. IVF helps in overcoming issues in conceiving or natural impregnation. The technology has undergone tremendous improvements, making it a trusted treatment option. IVF has a high success rate, however, is an expensive procedure and is viewed among the last resorts.
Patients usually opt for IVF upon failure of the other treatments. IVF procedures have increased over the years, thereby expanding its global market. Increased incidences of genetic abnormalities in embryos and miscarriage is also leading to a higher demand for IVF procedures. Moreover, wider acceptance of surrogacy is reflecting favourably on the IVF industry. Modern individuals both women and men are delaying marriage to over the age of 30 and beyond where reproduction, especially for women usually becomes much more complicated. Such trends are partly driving the popularity of IVF. Other factors that are linked with the growth of the global IVF market, include increased rate of infertility and reproductive tourism.
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Global In-Vitro Fertilization Market: Segmental Analysis
The MRFR’s report includes a comprehensive segmental analysis of the global In-Vitro Fertilization Market on the basis of type, product, end-user and region. By type, the market has been segmented into intrauterine insemination, in-vitro fertilization, intracytoplasmic sperm injection, and IVF using donor eggs. The intrauterine insemination (IUI) segment is expected to remain a highly attractive segment over the next couple years. In 2017, the segment accounted for nearly one-third share of the global IVF market. During the forecast period, the segment is expected to witness a double-digit CAGR. On the basis of product, the market has been segmented into device and regent.
The device segment is further sub-segmented into imaging systems, sperm separation system, ovum, aspiration pump, cerosystem, and micromanipulator. The reagents segment is further sub-segmented into embryo culture media, cryopreservation media, sperm processing media and ovum processing media. The device segment will continue to outperform the regent’s segment in 2018 and beyond. In 2017, the device segment surpassed the market valuation of USD 3,700 Mn and is projected to exhibit a healthy CAGR during the review period. By end-user, the market is segmented into fertility clinics, hospitals and clinical research center. The fertility clinics segment currently holds the largest share of the market and expected to retain its top positing over 2023. The hospital segment is also expected to become more profitable in the forthcoming years. During the forecast period, the hospital segment is projected to surge at 12.92% CAGR.
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Global In-Vitro Fertilization Market: Regional Analysis
On the basis of the region, the global market for in-vitro fertilization device is segmented into North America, Europe, the Middle East & Africa (MEA) and South America. Among these regions, Europe has emerged as the most attractive market for IVF device, in 2017, Europe accounted for little under 40% share of the global IVF market, holding the pole position. Growth of the market in the region can be primarily attributed to the increasing government funding for Assisted Reproductive Technology (ART) and declining fertility rate in Europeans. Germany, the UK, and France hold the major share of the Europe market. Meanwhile, North America and South America represented the second largest market for IVF. Availability of advance IVF technology acts as a major positive for the region’s market.
Global In-Vitro Fertilization Market: Competitive Landscape
Some of the leading companies currently operating in the market include Cooper Surgical Fertility, Merck KGaA, Cook Medical, INVO Bioscience, GENEA BIOMEDIX, Genea Limited, Irvine Scientific, Oxford Gene Technology, Vitrolife, and Thermo Fisher Scientific
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