A considerable portion of the global population affected by infertility, which has become a significant challenge for the healthcare industry. Infertility is caused mainly due to the inability to form eggs, low sperm count, and other reasons. In vitro fertilization (IVF) is a landmark achievement in medical science, which aids infertile people in overcoming medical issues and convenenaturally and is generally viewed as the last option in efforts to conceive. The global in vitro fertilization market, as per Market Research Future (MRFR's) analysis, is poised to cross USD 12,700 Mn mark at a CAGR of 10.50% over the forecast period of 2018-2023.
IVF has become the most sought after option for infertility issues. Increasedoccurrence of genetic abnormalities and miscarriages, due to delayed conception is driving the growth of the IVF market. Increased acceptance of surrogacy is a factor which is supporting the growth ofthe market. Technological advancements in in vitro fertilization technique have led to increased adoption of the technique as reproductive technology.
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IVF treatments are widely adopted across the globe; however, high costs associated with the procedure can be disruptive to the market growth. Nevertheless, increasing availability of funding and favorable reimbursements for IVF treatments can provide the market with growth opportunities.
Merck KGaA,Genea Limited,Irvine Scientific,Vitrolife,Thermo Fisher Scientific,Cooper Surgical Fertility,GENEA BIOMEDIX,Oxford Gene Technology,Cook Medical, and INVO Bioscience
The In-Vitro Fertilization Market has been segmented based on product, type, end-user.
By product, the in vitro fertilization market has been segmented into devices and reagents. The devices segment has been further segmented into imaging systems, sperm separation system, cerosystem, micromanipulator, and ovum aspiration pump. The reagents segment has been further segmented into cryopreservation media, sperm processing media, ovum processing media, and embryo culture media. The devices segment accounts for the larger share of the market and wasvalued at USD 3,739.7 in 2017. The devices segment is also expected to capture the highest CAGR over the forecast period due to the heightened use of imaging systems in IVF systems.
By type, the in vitro fertilization market has been segmentedinto intrauterine insemination (IUI), in-vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), and IVF using donor eggs. The IUI segment is the leading segment. IUI is minimally invasive and has a reasonable success rate do which it is highly preferred. The IVF segment is anticipated to be the fastest-growing segment and capture a CAGR of 11.68% over the forecast period.
By end-user, the in vitro fertilization market has been segmented into fertility clinics, hospitals, clinical research centers, and others. The fertility clinics segment is the largest segment. The hospital segment accounts for the second-largest share of the market and is expected to capture the highest CAGR of 12.92% over the forecast period. The growth of the hospitals segment can be credited to the increase in infertility service offerings in hospitals.
Region-wise, the in vitro fertilization market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East& Africa (MEA).
Government support for R&D activities and the presence of robust healthcare infrastructure has provided Europe with a competitive advantage over others. The region is witnessing numerous cases of infertility problems due to which the market is expanding continually. High healthcare expenditure in Western Europe, particularly in countries, namely, the UK, Germany, and France are supporting the growth of the market. The Europe IVF market is likely to expand at a CAGR of 10.94% over the forecast period.
The Americas follow Europe closely and account for an advantageous share of the global market. The region is concentrated with players, which gives it leverage over others. The tendency of the region to adopt advanced technologies is a key factor driving the market.
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The APAC IVF market is poised to be the fastest-growing regional market over the forecast period. Increasing demand for advanced healthcare technologies in the region and transforming the healthcare sector is providing favorable grounds for the growth of the market.
The MEA market is likely to capture the smallest share of the market. the growth of the market is mainly subdued due to the African region, where a number of under-developed countries with low healthcare penetration restrain the growth of the market. The majority share of the MEA market is captured by the Middle East.
August 2019 - France is considering making IVF treatmentsavailable for unmarried women and homosexual couples. Previously, under a law passed in 2013, IVF treatments were banned for single women and homosexual couples. Not only is the country planning to make these treatments permissible, but is also planning to make them free under the country's national health insurance.