According to market research report, "In Vitro Fertilization Market Size, Growth by Product (Micromanipulators, Incubators, Cabinets, Imaging System, Laser System, Reagents & Accessories), Type (Conventional IVF, IVF with ICSI), End User (Fertility Clinics, Hospitals, Cryobanks) - Global Forecast to 2026 is projected to reach USD 987 million by 2026, at a CAGR of 9.1%.
Globally, and particularly in developed nations, the median age of first-time mothers has been rising. This is a result of a number of things, such as women pursuing higher education and career opportunities, delaying marriage, and growing acceptance of unmarried women having children.
As more couples seek fertility treatments to conceive, this is increasing demand for in vitro fertilization (IVF) services. Over the course of the forecast period, the market for in vitro fertilization is anticipated to grow due to the rising median age of first-time mothers.
Moreover, the significant rise growth in fertility tourism and growing adoption of assisted reproductive technology is another factor that is expected to provide growth opportunities for players in the market.
Browse in-depth TOC on "In Vitro Fertilization /IVF Market"
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An assisted reproductive technology procedure known as in vitro fertilization (IVF) involves surgically removing a woman's eggs from her ovaries and fertilizing them with sperm in a lab. A successful pregnancy results from the return of the fertilized egg to the woman's uterus. While many couples can successfully conceive with the aid of in vitro fertilization, the procedure is costly and frequently not covered by health insurance.
Depending on variables like the woman's age and the complexity of the procedure, the cost of an IVF cycle can range from $10,000 to $15,000. Medication used throughout the procedure can also raise the price. For many couples thinking about in vitro fertilization, the high cost can be a significant deterrent.
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With age, the effectiveness of in vitro fertilization (IVF) and other treatments for infertility is known to decline. This is because as people age, the quality of their eggs and sperm declines, making it more challenging to successfully fertilize an egg. As a result, the difficulty is in coming up with methods to increase the effectiveness of in vitro fertilization treatments in patients who are old.
Focusing on improving the in vitro fertilization process itself, such as by enhancing the laboratory setting and collecting only the best eggs and sperm, is one strategy that could be used.
Furthermore, patients who are aging may benefit from cutting-edge fertility procedures like assisted hatching and intracytoplasmic sperm injection (ICSI). A successful implantation and pregnancy can be achieved with the best embryos, which can be determined through preimplantation genetic testing.
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Geographical Growth Scenario:
The in vitro fertilization market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the in vitro fertilization market in 2021. This is attributed to the factors such as rising medical tourism in Asian countries, increasing healthcare expenditure, rising medical tourism, and growing awareness among people about IVF treatment are supporting the growth of the in vitro fertilization market in the region.
Key Players in IVF Market are:
- The Cooper Companies Inc. (US),
- Cook Group (US),
- Vitrolife (Sweden),
- Thermo Fisher Scientific, Inc. (US),
- FUJIFILM Irvine Scientific (US),
- Kitazato Corporation (Japan), and
- Hamilton Thorne Ltd. (US), among others.
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