Pune, India, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The global IVF Market size is prophesized to reach USD 36.39 billion by 2026, with a CAGR 10.1% by 2026. This is attributable to the increasing cases of infertility among people worldwide. This is more common in males than female partners. The market value was USD 16.89 billion in 2018. Europe holds a dominant IVF Market share with a revenue of USD 7.57 billion generated in the year 2018.
IVF is a fertilization process wherein sperm and eggs are retrieved as a sample and are combined manually in laboratories. Various studies show that almost half a million babies are born by this process or other assistant reproductive processes. Such factors are responsible for the IVF Market growth.
INDUSTRY DEVELOPMENT:
- July 2019: Shady Grove Fertility announced the opening of its new full service in vitro fertilization (IVF) center in Tampa, Florida
- May 2019: Scientist of Monash IVF developed a new embryo screening test in order to reduce risk of miscarriage during IVF treatment
- May 2019: NMC Health plc, acquired a majority of stake in Boston IVF with an aim to create the most diversified and experienced fertility network in the world.
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Adoption and Practice of Sedentary Lifestyle to Add Impetus to Market Growth
Nowadays, people are more inclined towards career goals rather than family planning, and therefore often tend to opt for late pregnancies. The increasing number of such cases is a major in vitro fertilizer market driver, as mentioned earlier, since complicated cases are often resolved by opting for IVF treatment.
This is more common in nations such as the UK, Japan, and the U.S. Besides this, the rise in the number of male infertility is anticipated to increase the adoption of IVF treatment and thus accelerate the IVF Market size in the coming years. Besides this, government-supported reimbursement policies and awareness programs are aiding the overall IVF Market growth of the region.
Analysts at Fortune Business Insights™ said” high expenses and risks related to the in vitro fertilization process (IVF) and Intracytoplasmic sperm injection (ICSI) may cause hindrance to the overall IVF Market revenue”. Nevertheless, factors such as increasing obesity cases among people, infertility among men, the practice of sedentary lifestyle, and others are likely to create lucrative IVF market growth opportunities in the coming years.
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Europe to Dominate the Market with Maximum Number of Treatment Cases Registered
Europe holds a dominant IVF Market share with a revenue of USD 7.57 billion generated in the year 2018. This is attributable to the rise in the prevalence of infertility and the increasing popularity of IVF treatment in the region.
On the other side, the market in North America will witness steady growth on account of the high cost associated with ICSI and IVF treatment. As per the FertilityIQ data, 2017, in the U.S., the average expenditure of a patient undergoing a single IVF cycle is USD 22,000. Thus, patients in the U.S are travelling to other countries for IVF treatment citing lower costs.
Companies are Investing in Construction of New Fertility Centers for Revenue Generation
Boston IVF, Pelargos IVF, and Monash IVF are currently dominating the market. IVF Market manufacturers are developing new centers with efficient and high-quality treatment in remote locations for speeding their own revenue generation and making their mark in the market competition. This will ultimately accelerate the overall IVF market size.
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IVF Market Vendors include:
- Monash IVF
- Ovation Fertility
- Bloom IVF Centre
- Shady Grove Fertility
- Bangkok IVF center
- Boston IVF
- Pelargos IVF
- RSMC
- Group Ambroise Paré Clinic
- Other Service Providers
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Global IVF Market Segmentations:
By Type
• Conventional IVF
• IVF with ICSI
By Procedure
• Fresh Non-donor
• Frozen Non-donor
• Fresh Donor
• Frozen Donor
By End User
• Hospitals
• Fertility Clinics
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and the Rest of Latin America)
• Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
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