In Vitro Fertilization Market Synopsis:
An observation put forward by Market Research Future highlights that In Vitro Fertilization Market is anticipated to strike 10.50% CAGR over the review period revealing that the market’s value is set to grow from USD 6,984.3 Mn in 2017 to USD 12,714 Mn by 2023.
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Increasing prevalence of fertility issues is anticipated to boost the demand for in vitro fertilization (IVF) services in the years to come. Several factors have led to an increase in the burden of fertility issues among the masses. These factors include late pregnancies, sedentary lifestyle, unhealthy dietary pattern, etc. Increasing difficulties witnessed among the young couples in conceiving has led to research & development of in vitro fertilization. It has gained much popularity as the last resort to natural pregnancy. In addition, it is likely to gain further traction in the forthcoming years. Thus, the in vitro fertilization market is projected to exhibit significant growth over the next couple of years.
Increasing investments in the services for developing more effective and efficient methods is further expected top favor the expansion of the in vitro fertilization market in the years to come. However, the high cost of the services is likely to check the growth rate of the in vitro fertilization market in the foreseeable future.
In Vitro Fertilization Market Segmentation:
The Global In Vitro Fertilization Market, on the basis of product, is bifurcated into devices and reagents. The devices segment is further sub-segmented into sperm separation system, cerosystem, imaging systems, micromanipulator, and ovum aspiration pump. Reagents segment has been sub-segmented into ovum processing media, sperm processing media, cryopreservation media, and embryo culture media. The devices segment presently holds the maximum share of the market and is anticipated to retain its prominence over the next few years. It is also expected to strike a comparatively higher CAGR across the forecast period.
The segments of the in vitro fertilization market based on type are intracytoplasmic sperm injection (ICSI), in-vitro fertilization (IVF), intrauterine insemination (IUI), and IVF using donor eggs. The intrauterine insemination (IUI) segment accounts for a major share of the market presently. It is poised to witness high demand in the years to come owing to its minimally invasive nature. However, the in-vitro fertilization (IVF) segment is projected to thrive at a higher CAGR of 11.68% during the review period.
End user segments of the global contraceptive pills market are fertility clinics, hospitals, clinical research centers, and others. Among these, the fertility clinics segment is anticipated to retain the largest share of the market in the years to come. In addition, the hospital segment is the second leading segment of the in vitro fertilization market. It is also estimated to register the highest CAGR of 12.92% across the assessment period. The segment is expected to grow on account of the availability of a wide range of services in hospitals.
In Vitro Fertilization Market Regional Analysis:
The Global In Vitro Fertilization Market is segmented on the basis of region for offering a detailed regional evaluation. These segments include Europe, The Middle East & Africa (MEA), Americas, and Asia Pacific. Europe is the largest market for IVF and is likely to grow substantially over the forecast period. It is poised to strike 10.94% CAGR during the assessment period.
Americas in vitro fertilization market is the second largest market and is likely to capitalize on the growth strategies of the key players based out of the region. Also, Asia Pacific is expected to play a significant role in the development of the in vitro fertilization market over the next couple of years. It is anticipated to expand at the highest CAHR in the upcoming years.
In Vitro Fertilization Market Competitive Dashboard:
The Global In Vitro Fertilization Market’s expansion is driven by the growth strategies devised by key players such as
- Cooper Surgical Fertility
- Cook Medical
- Oxford Gene Technology
- Merck KGaA
- INVO Bioscience
- Thermo Fisher Scientific
- Irvine Scientific
- GENEA BIOMEDIX
- Genea Limited
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