IMARC Group's report titled "In Vitro Fertilization Market Report by Product (Reagent, Instrument, Accessories), Procedure Type (Fresh Donor, Frozen Donor, Fresh Non-donor, Frozen Non-donor), Cycle Type (Conventional IVF , IVF with ICSI, IVF with Donor Eggs), End User (Fertility Clinics, Hospitals, and Others), and Region 2024-2032" The global in vitro fertilization market size reached US$ 24.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 47.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.65% during 2024-2032.
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Factors Affecting the Growth of the In Vitro Fertilization Industry:
- Increasing Infertility Rates:
As infertility rates are rising, more couples and individuals are seeking medical assistance to conceive. IVF is often the go-to solution when conventional methods fail, thereby contributing to the growth of the market. In addition, with a global trend of delayed parenthood, couples are attempting to have children later in life, which can result in fertility issues. IVF provides a viable option for these individuals to fulfill their desire for parenthood. Moreover, modern lifestyles, characterized by stress, poor dietary choices, and exposure to environmental toxins, can negatively impact fertility. This is leading to an increase in the number of people using IVF as a means to overcome these challenges.
- Advancements in Technology:
Innovations in IVF procedures are increasing success rates. This includes better control over embryo culture conditions, more precise timing of embryo transfer, and enhanced embryo selection techniques. Higher success rates attract more individuals and couples to consider IVF as a viable option for fertility treatment. Besides this, advanced cryopreservation methods allow for the freezing and storage of embryos and gametes. This not only increases the flexibility of IVF treatments but also offers a solution for individuals facing medical treatments that may compromise their fertility.
- Medical Tourism:
Several countries known for medical tourism have state-of-the-art fertility clinics and IVF centers with modern equipment and experienced specialists. Patients are attracted to these destinations due to the assurance of high-quality care. In some countries, the demand for IVF services can result in long waiting times. Medical tourism allows patients to bypass these waiting lists and access treatment more quickly. Additionally, many medical tourism providers offer customized IVF packages that include accommodation, transportation, and even post-treatment recovery services, which is impelling the market growth.
Leading Companies Operating in the Global In Vitro Fertilization Industry:
- Boston IVF
- CooperSurgical Inc. (The Cooper Companies Inc.)
- Esco Micro Pte. Ltd
- FUJIFILM Holdings Corporation
- Genea Pty Limited, Hamilton Thorne Ltd.
- SAFE Fertility Center, Vitrolife AB
In Vitro Fertilization Market Report Segmentation:
By Product:
- Reagent
- Cryopreservation Media
- Embryo Culture Media
- Ovum Processing Media
- Sperm Processing Media
- Instrument
- Imaging Systems
- Incubators
- Cryosystems
- IVF Cabinet
- Ovum Aspiration Pump
- Sperm Separation Systems
- Micromanipulator Systems
- Others
- Accessories
Instruments represent the largest segment as they include essential equipment, such as incubators, microscopes, and micromanipulation systems.
By Procedure Type:
- Fresh Donor
- Frozen Donor
- Fresh Non-donor
- Frozen Non-donor
Frozen non-donor accounts for the majority of the market share due to its advantages, such as increased success rates, better control over treatment timing, and reduced risks associated with ovarian hyperstimulation.
By Cycle Type:
- Conventional IVF
- IVF with ICSI
- IVF with Donor Eggs
IVF with ICSI exhibits a clear dominance in the market, driven by the rising utilization of ICSI as a highly effective technique for addressing male infertility issues.
By End User:
- Fertility Clinics
- Hospitals
- Others
Fertility clinics hold the biggest market share owing to their specialized staff and equipment, providing comprehensive fertility treatment services.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe enjoys the leading position in the in vitro fertilization market on account of favorable government policies and high infertility rates.
Global In Vitro Fertilization Market Trends:
Fertility clinics are offering personalized treatment plans tailored as per individual patient needs, thereby facilitating the growth of the market.
The use of preimplantation genetic testing (PGT) to screen embryos for genetic abnormalities is gaining traction, reducing the risk of genetic disorders and increasing IVF success rates.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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