In vitro fertilization (IVF) Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD1194 | Last Updated On: Jun 21 2022 | Available Formats

> Global In vitro fertilization (IVF) Market Expected to reach at a high CAGR by 2029: DataM Intelligence

Global In vitro fertilization (IVF) Market is segmented By Product (Reagents (Embryo Culture Media, Sperm Processing Media, Cryopreservation Media, Others), Equipment (Sperm Separation Systems, OVUM Aspiration Pumps, IVF Cabinets, Micromanipulator Systems, Incubators, Cryosystems, Others)), By Cycle Type (Fresh IVF cycles (non-donor), Thawed IVF cycles (non-donor), Donor egg IVF cycles), By End-User (Hospitals, Fertility Clinics, Surgical Centers, Clinical Research Institutes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "In vitro fertilization (IVF) Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).

In vitro fertilization (IVF) is an Assisted Reproductive Technology (ART) where an egg and sperm are fertilized outside the body to develop an embryo. It is also used when a woman has problems associated with ovulation, fibroids, polycystic ovarian syndrome, endometriosis, and cervical issues or when the reasons for infertility are unclear.

 

Market Dynamics

The In vitro fertilization (IVF) market growth is driven by rising infertility rate, increasing delayed pregnancies, a surge in IVF success rate, and rising disposable income globally. The number of women who are intentionally delaying pregnancies beyond the age of 35 years has been increasing. Delay in pregnancy is a major cause of infertility. According to the American Society for Reproductive Medicine (ASRM), infertility affects around 6.7 million women in the U.S, which accounts for around 11.0% of the reproductive population in 2018. In addition, 25% of the couples have more than one factor leading to infertility. Delayed pregnancies lead to pregnancy-associated complications and increase the chance of infertility. The global average fertility rate, currently, is around 2.5%, and a major reason for delayed pregnancies. The rising trend of delayed pregnancy is contributing to the higher demand for IVF techniques. 

However, high cost of IVF equipment, low awareness, and complications associated with IVF treatment are some of the factors restraining the growth of the IVF market.

Segment Analysis

On the basis of product type, the In vitro fertilization (IVF) market is segmented into reagents and equipment. The IVF equipment is further sub-segmented into Sperm Separation Systems, OVUM Aspiration Pumps, IVF Cabinets, Micromanipulator Systems, Incubators, Cryosystems, and Others. The reagents segment is further classified into Embryo Culture Media, Sperm Processing Media, Cryopreservation Media, and Others. The embryo culture media segment is estimated to hold the largest market share during the forecast period (2019-2026). The embryo culture media occupies largest share due to the high volume of culture media as it is required in every IVF procedure. In addition, rising government funding, increase in research activities to improve the culture media, and ability to preserve sperm without reducing their quality are driving the growth of this segment. With the establishment of huge egg cryobanks, the demand for egg processing media is also expected to rise during the forecast period.

Based on cycle type, fresh IVF cycles (non-donor) segment accounted for the largest market share in 2018 due to its high success rate in the first attempt. Thawed IVF cycles (non-donor) segment is growing at the fastest rate during the forecast period as procedure can be performed in complicated cases such as on a patient suffering from Ovarian Hyperstimulation Syndrome (OHSS). In addition, the procedure reduced the case of ectopic pregnancy, gives a better implantation rate, higher live birth rate, which are driving the demand for the procedure globally.

On the basis of end-user, fertility clinics and hospitals are expected to hold the significant market share during the forecast period. With the rise in demand for artificial reproductive techniques, the number of fertility clinics is increasing considerably, especially in developing regions. Licensed fertility clinics offer to counsel couples having problems in conceiving. Fertility clinics are providing state-of-the-art equipment such as micromanipulation, non-invasive Radio Frequency Identification (RFID) tags, and others. These factors are driving the growth of the fertility clinics segment.

Geographical Analysis

The Asia-Pacific region is anticipated to witness a high growth rate during the forecast period, owing to the less stringent regulatory environment associated with in vitro fertilization. The low cost of IVF in Asia-Pacific, especially in India, when compared to developed countries like the United States and Germany, and the growing medical tourism for IVF are also supplementing the growth of the market in the region. Hospitals and fertility centers in India are providing specialized services for international patients. Due to less stringent legal measures and regulatory requirements, the fertility centers in India can provide more patient-oriented treatments when compared with the developed regions, which is leading to the expansion of the market in the region. In November 2017, Warburg Pincus, a private equity firm, was in the last stage of negotiations to procure a minority stake in Indira IVF Hospital Pvt. Ltd, which is one of the leading fertility hospital chains in India.

Some of the major players of the global ECMO system market include CooperSurgical Inc., Cook Medical Inc., Genea Biomedx, FUJIFILM Irvine Scientific Inc., Merck KGaA (EMD Serono), Thermo Fisher Scientific Inc., Nikon Corporation, Hamilton Thorne Inc., Nidacon International AB, and Vitrolife AB. The key players are adopting various strategies such as new product developments, mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. For instance, 

In February 2019, Merck launched a cutting-edge fertility technology in India. The business launched two devices, namely Geri® and Gavi®, as well as Gems®, a complete culture medium suite. This will be made available in partnership with GeneaBiomedx, to IVF clinics and hospitals.

In July 2018, Merck, a leading science and technology company, launched QBOX IVF, and the new Geri® Assess 2.0, to serve the needs of the customers and to become the preferred treatment partner for all IVF stakeholders and assisted reproductive treatment (ART) clinics.

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