ID: MRFR/LS/1682-CR | October 2018 | Region: Global | 80 pages
In-Vitro Fertilization (IVF) Market will witness an impressive CAGR of 10.50% in the forecast period and achieve a valuation of over USD 12,700 Mn as per the latest report published by Market Research Report. The plummeting natural fertility rates are estimated to create a promising scope for the IVF devices and consumables market in the coming period.
The financial consequences of folding job losses and the housing market are estimated to develop the fertility clinic industry substantially. The shuttering of IVF clinics is also estimated to amplify waiting lists for couples trying to conceive this year. The surge in households' expenditure is expected to create severe restrictions on the development of the in vitro fertilization market share in the approaching period. Moreover, as fertility-related issues are not critical to an individual's health and well-being, especially in the current pandemic's scope, they are predicted to contribute to decelerated development in the IVF market growth.
Robust Regulatory Frameworks
The existence of suitable regulatory frameworks has aided in the development of assisted reproduction technologies such as embryo culture media market are likely to gain quick acceptance in advanced economies. At the same time, their penetration remains relatively slower in developing countries.
High Average Conception Age
The average age of first-time mothers has multiplied radically in the global market. This inclination is estimated to improved contraceptive techniques and the mounting number of women choosing to delay the starting of a family.
Progressive Technology Availability
The intensification of infertility cases is contributing to the advancement of advanced technologies such as lensless imaging of the sperms, which is anticipated to usher in a new phase of growth in vitro fertilization market share in the coming years.
Surge in Fertility Medical Tourism
The low cost for superior healthcare amenities provided by doctors and surgeons trained in the leading institutes in the US and Europe in developing economies such as that of the Asia Pacific region promotes the in vitro fertilization trends. In addition to reduced treatment costs, combined with quality treatments and noninterventionist laws concerning the IVF treatment, it is also motivating fertility tourism in evolving countries such as India and Thailand.
High Cost Of Treatment
The cost of IVF treatment differs due to the absence of reimbursement policies, which may hinder its global progress. Consequently, the astronomical price of assisted reproductive techniques and the absence of insurance coverage for the treatment are restraining this market's growth.
The intrauterine insemination (IUI) segment is anticipated to keep on as a highly appealing segment over the next few years. In 2017, the segment accounted for nearly one-third share of the global IVF device market. During the forecast period, the segment is expected to witness a double-digit CAGR.
The segments by device such as ovum aspiration pump, imaging systems, micromanipulator, sperm separation system, and cryosystem are assessed to perform uniformly in the course of the forecast period due to their use in fertilization.
The reagents segments are estimated to develop consistently in the course of the forecast period.
By End Users
The fertility clinics segment currently influences the market's largest share and is anticipated to hold its top-posting over 2023. The hospital segment is also projected to become more lucrative in the upcoming years. Throughout the forecast period, the hospital segment is anticipated to surge at a 12.92% CAGR.
Asia Pacific To Be Established A Key Frontrunner In Global Market By 2023
The cost of IVF in Asia-Pacific is substantially lesser, especially in India, when likened to industrialized regions. The mounting medical tourism in the region for IVF is also assessed also to supplement the growth of the Asia-Pacific in vitro fertilization IVF market in the region. Due to lenient legal measures and regulatory necessities, India's fertility centers can deliver more patient-oriented therapies when equated with the advanced regions, which is directing the development of the IVF disposables market in the region.
North American Region To Capitalize Access To Innovative Technology
Several progressive nations in Europe and the Americas are documenting a lesser birthrate, which is linked to several socioeconomic influences. As a result, technologies such as IVF have become very popular in these countries. Meanwhile, the developing countries in the North American region, such as Mexico, are also catching up with the trend.
The noteworthy companies profiled in the biologics market report are
The government in Quebec plans to comprise in vitro fertilization to their government-funded health services. The procedure currently costs at least USD 6,000, not counting the expense of the hormones a patient must take. The subsidized treatment will be accessible to heterosexual couples, lesbian couples, as well as to single women. This development is estimated to signify a pathbreaking development in the infertility treatment devices market.
Nov 2020 A novel paper in the Journal of the National Cancer Institute, issued by Oxford University Press, shows that taking assisted reproductive technology does not augment the risk women have for getting ovarian cancer. Augmented ovarian cancer risk in ART-treated women associated with the overall population is clarified by nulliparity rather than ART treatment.
Dec 2020 Researchers at Monash University in Australia have revealed that fluid dynamics and acoustic waves can be used to set apart good quality sperm from a semen sample and augment the accomplishment rate of the IVF technique. For the study, the researchers utilized an acoustic field of 19.28 MHz and 1-2 W at a position of 30 degrees in the path of the flow of semen samples.
Dec 2020 Hannah Life has created a one-step solution that raises a couple's probability of natural conception within their own home and a tiny proportion of the price of traditional fertility therapies. Fertility therapies such as intrauterine insemination (IUI) and in-vitro fertilization (IVF) are equally monetarily and emotionally draining to meet the needs of the 25 million women of reproductive age in the US with limited access to treatment.
Dec 2020 Progyny, a fertility-benefits manager, stated first-quarter balances recently that beat expectations but observed that the coronavirus pandemic deeply disrupted its members' access to care. Progyny stated the results as fertility clinics delay procedures owing to the pandemic.
The MRFR report advances a factual market viewpoint for in vitro fertilization market share on worldwide scale. The report consists of a comprehensive analysis of the growth trends of the global in-vitro fertilization market. The report has thoroughly discussed the key micro and macroeconomic elements influencing the In-Vitro Fertilization (IVF) Industry.
Frequently Asked Questions (FAQ) :
The global in-vitro fertilization market can touch USD 12,714 million by 2023.
The global in-vitro fertilization market stood at USD 6,984.3 million in 2017.
The global in-vitro fertilization market is expected to exhibit a CAGR of 10.50% from 2018 to 2023.
Europe can dominate the global in-vitro fertilization market due to government funding for research in infertility treatments.
The MEA region is expected to hold the lowest share of the global in-vitro fertilization market.
Thermo Fisher Scientific, Merck KGaA, GENEA BIOMEDIX, Cook Medical, Oxford Gene Technology, Irvine Scientific, Vitrolife, Cooper Surgical Fertility, INVO Bioscience, and Genea Limited are major players of the global in-vitro fertilization market.
The global in-vitro fertilization (IVF) devices market is projected to witness growth at a CAGR of 10.50% during the forecast period from 2018 to 2023. In-vitro fertilization has become highly popular for its use in the treatment of fertility problems and is often used as the last effort to induce a natural pregnancy. It provides prospective parents the opportunity to have a biological child or can be used to ensure that serious genetic disorders are not passed on to their child. In 2017, the global in-vitro fertilization devices market was valued at USD 6,984.3 Mn, the imminent growth of the market is expected to result in a market value of approximately USD 12,714 Mn by the end of 2023.
Infertility has become a significant issue affecting a considerable portion of the population. The Center for Disease Control & Prevention has found that close to 7.4 Mn women in the US have been recorded as having difficulty conceiving and/or maintaining pregnancy. In the UK the statistics reflect that 1 in 7 couples have trouble conceiving. Several factors have been identified such as low sperm count, inability to form eggs, and several others. IVF techniques have been successfully implemented in such cases to treat infertility; this has increased the demand and use of IVF. Moreover, the increasing demand for infertility treatments has led to increased development of new technologies which offer the highest rate for success. This is particularly significant due to the high cost of IVF treatment.
Although IVF treatments have become adopted widely, the high costs associated with fertility treatments is expected to hamper market growth. In the US, the average cost of one IVF treatment with the exception of required prescription medication is over USD 12,000. Although these figures vary from region to region, they are still fairly expensive and unaffordable. To address this, there is a growing availability of funding and reimbursements for certain in-vitro fertilization treatments which are expected to provide the market with opportunity for growth.
The global in-vitro fertilization devices market is segmented on the basis of product, type, end-user, and region. In-vitro fertilization products are broadly segmented into devices and reagents. Devices are further sub-segmented into imaging systems, sperm separation system, cerosystem, micromanipulator and ovum aspiration pump. Reagents are sub-segmented into cryopreservation media, sperm processing media, ovum processing media, and embryo culture media. Devices account for the most significant share of the market and valued USD 3,739.7 in 2017 due to the increased use of imaging systems in IVF treatments. Moreover, the devices segment is expected to grow at the highest CAGR during the forecast period.
Various types of in-vitro fertilization include intrauterine insemination (IUI), in-vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), and IVF using donor eggs. The IUI segment around for the largest share of the market and is generally preferred as it is minimally invasive and has a good success rate. Meanwhile, the IVF segment is expected to witness the highest growth at a CAGR of 11.68% during the forecast period. End users of IVF methods include fertility clinics, hospitals, clinical research centers, and others. The fertility clinics segment accounts for the largest segment in the market. The hospital segment is the second largest and is expected to grow at the highest CAGR of 12.92%; hospitals have increased service offerings for infertility problems, thus the segments rapid growth.
Europe has the most significant share of the global IVF devices market. Government support for research and development activities, the presence of well-established healthcare infrastructure and the high budget for health care expenses are among the key factors driving the growth of the market. European market growth is primarily led by Western Europe countries which include Germany, the UK, and France. The Europe IVF devices market is expected to witness a CAGR of 10.94% during the forecast period.
The Americas IVF devices market account for the second largest regional segment. The region has a high concentration of leading players, and a high adoption rate of advanced technologies which has contributed significantly toward the development of the market. North America leads the Americas IVF devices market. The Asia Pacific is the fastest growing regional market with the highest CAGR during the forecast period. The region has a high demand and requirement for advanced diagnostic methods. The rapidly changing healthcare sector poses huge opportunities for the development of the market.
Meanwhile, the Middle East and Africa has the smallest share of the market which is expected to grow at the lowest CAGR. This is primarily due to the region’s inclusion of the African continent which has a high concentration of under-developed economies with a high requirement for basic healthcare.
The global in-vitro fertilization devices market is fragmented and includes a number of small regional clinics. The report, however, profiles prominent players such as Cook Medical, Cooper Surgical Fertility, Merck KGaA, Thermo Fisher Scientific, INVO Bioscience, Irvine Scientific, GENEA BIOMEDIX, Vitrolife, Oxford Gene Technology, and Genea Limited. These players primarily use product approval, expansion, strategic acquisitions and partnerships as key competitive strategies which influence growth.
Global In-vitro Fertilization Market: Competitive Landscape
The prominent players in the global in-vitro fertilization market are Cook Medical, Irvine Scientific Sales Company, Inc., Cooper Surgical, Merck KGaA, and others.
Cooper Surgical Fertility (Origio) accounted for the largest market share of the global in-vitro fertilization market, with around 25.4% of the market share in 2017. The large share of the company is attributed to innovative products that address a wide range of patients with infertility. Moreover, Cooper Surgical Fertility is focusing on bringing health and wellness to individuals and communities worldwide. A Cooper Surgical Fertility Company is committed to advancing the health of families with its diversified portfolio of products and services to mainly focus on women health, fertility, and diagnostic products. It targets specific difficult-to-cure diseases with the help of its core R&D expertise.
Vitrolife accounts for approximately 21.7% share in the in-vitro fertilization market owing to a wide range of product portfolio. Vitrolife provides a high quality of IVF laboratories product in the market. The company has production facilities in more than ten countries globally.
Cook Medical holds the third largest position in the global in-vitro fertilization market with a 16.2% market share. Irvine Scientific holds the fourth largest position in the global in-vitro fertilization market with a market share of 10.5%. Cook Medical is the spin-off of Abbott Laboratories and was formed in 2013 and therefore has more than 100 years of legacy. Abbott Laboratories company operates through four reportable segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and vascular products. Furthermore, the company has two non-reportable segments, namely, diabetes care and medical optics. Cook Medical is a highly focused research-driven biopharmaceutical company. It targets specific difficult-to-cure diseases with the help of its core R&D expertise.
Irvin Scientific is focusing on innovation and development of cell culture media, reagents, and medical devices for researchers. Irvin Scientific provides unrivaled services and products to scientists working on cell therapy, assisted reproductive technology, and industrial cell culture to produce biopharmaceuticals and vaccines. It targets specific difficulties to cure diseases with the help of its core R&D expertise. Irvin Scientific has remained focused on media while becoming a global leader in media products and services.
Thermo Fisher Scientific Inc. specializes in various biotechnology products such as analytical instruments, laboratory supply chain programs and e-commerce, laboratory equipment, lab services, specialty diagnostics, and others. Ortho Clinical Diagnostics (Part of Johnson & Johnson Services Inc.) is serving the global clinical laboratory and immunohematology communities across hospitals, hospital networks, blood banks, and labs in more than 120 countries. The company specializes in in-vitro diagnostics, clinical labs, transfusion medicine, and immunohematology.
Merck KGaA is focusing on bringing health and wellness to individuals’ communities worldwide. Merck KGaA is committed to advancing the health of families with its diversified portfolio of products and services to mainly focus on women health, fertility, and diagnostic products. Merck KGaA is a leading pharmaceutical company which has a varied range of products sub-segmented into healthcare, life science, and performance material.