WASHINGTON, Aug. 24, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, The Global In Vitro Fertilization Market is projected to reach a value of USD 1296.47 Million by 2030 and is expected to exhibit a CAGR of 8.60% from 2023 to 2030. The global IVF Industry is valued at USD 670.06 Million in 2022.
In Vitro Fertilization (IVF) stands as a pivotal method within the realm of Assisted Reproductive Technology (ART), orchestrated to aid couples in their journey towards parenthood. This intricate process involves the delicate orchestration of extracting eggs from a woman's ovaries and uniting them with sperm within the controlled environment of a laboratory. The orchestration commences by stimulating the woman's ovulatory system, followed by the meticulous retrieval of an ovum from her ovaries. This vital component is then united with sperm in a laboratory medium, nurturing the intricate dance of conception outside the confines of the human body.
IVF serves as a cornerstone for couples grappling with infertility challenges, a prevailing issue that propels the evolution of the global IVF services market. This market, spanning continents and cultures, exhibits substantial growth projections across the foreseeable future.
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Key Highlights:
- The largest segment of the in-vitro fertilization (IVF) market in 2022 was the culture media segment, with a revenue share of 40.0%.
- The second largest segment was the procedure type segment, with a revenue share of 33.0%.
- The rising demand for IVF is being driven by factors such as the increasing prevalence of infertility, the growing awareness of IVF as a treatment option, and the improving success rates of IVF.
- The Asia Pacific region is expected to be the fastest-growing market for IVF, followed by North America and Europe.
Top Companies in Global In Vitro Fertilization (IVF) Market
- The Cooper Companies Inc. (US)
- Cook Group (US)
- Esco Micro PTE. Ltd. (Singapore)
- Genea Limited (Australia)
- IVFtech ApS (Denmark)
- Vitrolife (Sweden)
- Thermo Fisher Scientific Inc. (US)
- FUJIFILM Irvine Scientific (US)
- Rocket Medical plc (UK)
- Hamilton Thorne Ltd. (US)
- The Baker Company Inc. (US)
- Kitazato Corporation (Japan)
And More…..
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Market Dynamics: IVF Market
The global landscape is undergoing a profound transformation, marked by behavioral shifts within the population that are reshaping the dynamics of the In Vitro Fertilization (IVF) market. An array of influential factors is driving this evolution, reflecting the intricate interplay between societal changes and healthcare advancements.
The surge in women's participation in the workforce has brought about a seismic change in family dynamics. Late pregnancy decisions have become a hallmark of this era, where couples are strategically planning their parenthood journey. As urbanization continues its steady march, rural-to-urban migrations have fueled a demand for IVF services that cater to the distinctive challenges of urban life. Moreover, the shifting sands of matrimony are evident in declining marriage rates and the ascendance of same-sex marriages, both of which are instrumental in propelling the growth of the IVF market.
Statistics from the American Society for Reproductive Medicine (ASRM) underscore the widespread impact of fertility challenges. In the U.S. alone, a staggering 6.7 million individuals are grappling with the weight of infertility, encompassing around 11.0% of the country's population attempting to conceive. Furthermore, a quarter of the population experiences multiple infertility causes, highlighting the intricate web of factors contributing to this phenomenon.
Consumer awareness regarding infertility treatments has reached unprecedented heights, igniting a surge in demand for IVF therapies. Researchers are at the forefront of this transformative landscape, devising novel methods to enhance the efficacy of artificial reproductive technology. Techniques like aided hatching, vitrification, and advanced egg/sperm processing techniques have not only pushed the boundaries of IVF but also significantly boosted market revenues.
Top Trends in IVF (In Vitro Fertilization) Market
In the realm of assisted reproductive technologies (ART), including prominent methodologies like in vitro fertilization (IVF) and artificial insemination, the integral role of sperm separation systems cannot be overstated. These systems stand as linchpins within the domain of ARTs, playing a pivotal role in furnishing meticulously purified samples that subsequently fuel the intricate procedures that follow.
The significance of these systems cannot be understated, for they lie at the heart of ARTs, furnishing samples of unmatched purity that serve as building blocks for successive procedures. Their paramount importance is rooted in their ability to provide pristine samples, effectively elevating the quality of subsequent processes.
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Global In Vitro Fertilization Market Segmentation
- By Product
- Equipment
- Reagents & Media
- Accessories
- By Cycle
- Fresh Non-Donor IVF Cycles
- Frozen Donor IVF Cycles
- Frozen Non-Donor IVF Cycles
- Fresh Donor IVF Cycle
- By Type
- Conventional IVF
- IVF with Donar Eggs
- IVF with ICSI
- Others
- By End User
- Fertility Clinics
- Cryobanks
- Hospitals & Surgical Centers
- Research Institutes
IVF Market Segment & Revenue Share (2022)
| Segment | Revenue Share (2022) | |
| Culture media | 40.0% | |
| Procedure type | 33.0% | |
| Equipment | 12.0% | |
| Consumables | 10.0% | |
| Services | 5.0% | |
Challenges:
The decision to transfer more than one embryo into the uterus during an IVF procedure comes with implications that extend beyond the scope of a single pregnancy. This approach amplifies the potential for multiple births, a phenomenon where the prospect of having more than one fetus in the womb becomes a tangible reality. However, the allure of this outcome is accompanied by a set of intricately intertwined risks and considerations.
Contrasting a pregnancy featuring a solitary fetus, the path of multiple fetuses carries a heightened susceptibility to early labor and the challenge of low birth weight. This dual-sided dilemma underscores the complex nature of managing pregnancies that house more than one life within. Research lends its weight to this narrative, substantiating that IVF can elevate the odds of premature births or births characterized by low weight.
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Opportunities:
The medical tourism industry in emerging countries has flourished for several compelling reasons, and two prominent examples—Brazil and India—underscore the significant cost disparities that contribute to this growth trend.
Brazil boasts a robust medical infrastructure, with more than 20 medical facilities and 150 centers dedicated to treating infertility. A striking contrast emerges when comparing the cost of an IVF cycle in Brazil to that in the United States. The financial burden in Brazil is remarkably lighter, with an IVF cycle priced at approximately US$ 4,000, a fraction of the approximate US$ 12,000 cost in the United States. This stark variance highlights Brazil's attractiveness as a medical tourism destination, where quality care is offered at a more accessible price point.
Recent Development
- March 2023: Vitrolife announced that it had received FDA clearance for its Cryotop vitrification system. The Cryotop system is a new way to vitrify embryos, which is a process of freezing them rapidly to preserve their viability.
- April 2023: Thermo Fisher Scientific Inc. announced that it had acquired CooperSurgical, a provider of IVF products and services. The acquisition will help Thermo Fisher to expand its presence in the IVF market.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on In Vitro Fertilization Market Forecast Report (2023-2030).
Key Questions Answered in In-Vitro Fertilization Market Report
- What is the current size and projected growth of the In-vitro Fertilization market?
- What are the primary factors driving the growth of the In-vitro Fertilization market?
- What are the various types of In-vitro Fertilization procedures available?
- What are the challenges and limitations faced by the In-vitro Fertilization market?
- What are the emerging technologies and techniques in the field of In-vitro Fertilization?
- How is the regulatory landscape impacting the In-vitro Fertilization market?
- What is the global distribution of In-vitro Fertilization clinics and procedures?
- What are the trends in patient demographics and preferences within the In-vitro Fertilization market?
Regional Analysis
By 2022, the Asia Pacific region is poised to witness an extraordinary journey in the in-vitro fertilization (IVF) market, marked by a remarkable compound annual growth rate (CAGR) throughout the projected timeline. This surge finds its roots in a multifaceted interplay of factors, each contributing to the region's burgeoning prominence on the IVF landscape.
This demographic dynamism intersects with a distinctive trend—rapidly declining fertility rates—that weaves a compelling tale of demand for assisted reproductive solutions. Governments across the region are steering initiatives towards empowering women, thereby propelling the market's momentum. A burgeoning preference for careers over immediate family-building among women has become a defining motif, intricately woven into the fabric of this narrative.
Shifting focus to North America, the journey of the IVF market takes on a distinct complexion. Fertility rates have undergone a notable decline among both genders, weaving a tapestry of unique challenges. This narrative intersects with a slew of factors, from the prevalence of polycystic ovary syndrome to the proliferation of fertility clinics. Government policies championing reimbursement for fertility issues and an amplified healthcare expenditure landscape provide fertile ground for market growth.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 670.06 Million |
| Revenue Forecast by 2030 | USD 1296.47 Million |
| CAGR | 8.60% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | The Cooper Companies Inc., Cook Group, Vitrolife, Thermo Fisher Scientific Inc., Esco Micro PTE. Ltd., Genea Limited, IVFtech ApS, FUJIFILM Irvine Scientific |
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