Growth factors of this market include greater public awareness about infertility and the availability of treatment options. However, the high cost and low success rate of IVF treatment and restrictive regulations and ethical concerns are expected to restrict the growth of the IVF market to a certain extent.
Drivers: Growth in median age of first-time mothers
Over the years, the median age of first-time mothers has increased significantly across the globe.
This trend can largely be attributed to improved contraceptive techniques, late marriages, and the growing number of women prioritizing their careers over starting a family.
According to the data published by Australian Institute of Health and Welfare 2021, in Australia the average age of first-time mothers increased from 27.9 years in 2009 to 31.9 years in 2019.
With the median age for first-time mothers increasing, a growing number of women are expected to face difficulties in conceiving naturally. In this scenario, an increasing number of women are forced to opt for IVF treatments; this is expected to drive the growth of the IVF market in the coming years.
According to the new market research report "In Vitro Fertilization Market 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", published by MarketsandMarkets™, the global In Vitro Fertilization Market is projected to reach USD 987 million by 2026 from USD 638 million in 2021, at a CAGR of 9.1% from 2021 to 2026.
Browse in-depth TOC on "In Vitro Fertilization"
231 – Tables
39 – Figures
252 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=89198891
The key factors fueling the growth of this market include an increase in the median age of first-time mothers, declining fertility rates, rising male infertility, rise in obesity rate and growing consumption of alcohol, and growing awareness about the availability of treatment options.
Opportunities: Increasing Medical Tourism in Emerging Nations
The medical tourism industry in emerging countries is thriving owing to a number of factors. Brazil has ~150 centers offering infertility treatments and over 20 medical centers [Source: Fertility Treatment Abroad]. A typical IVF cycle in the US costs around USD 12,000, whereas in Brazil, the same can be completed in USD 4,000.
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