Global in-vitro fertilization market is expected to reach USD 3.72 billion by 2021 from USD 1.75 billion in 2016, growing at a CAGR of 16.4% during the forecast period 2016-2021.
In Vitro Fertilization is an assisted reproductive technology (ART) commonly referred to as IVF. IVF is the process of fertilization by extracting eggs, retrieving a sperm sample, and then manually combining an egg and sperm in a laboratory dish. The embryo(s) is then transferred to the uterus. During IVF, mature eggs are collected (retrieved) from your ovaries and fertilized by sperm in a lab. Then the fertilized egg (embryo) or eggs are implanted in your uterus. One cycle of IVF takes about two weeks. IVF is never the first step in the treatment of infertility except in cases of complete tubal blockage. Instead, it's reserved for cases in which other methods such as fertility drugs, surgery, and artificial insemination haven't worked.
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The lifestyle choice of millennials has taken a drastic shift with urbanization, there is great difference in the choices when compared with our parent generation. The delayed pregnancies among women which is a choice for many women these days, raising awareness pertaining to infertility consequences, and importantly the presence of favourable reimbursement systems are fuelling the growth of the global in-vitro fertilization market. Increased technological advancements in in-vitro fertilization procedures like (embryo scope & capsule in-vitro fertilization), rising medical tourism across the major countries, growing gynaecological disorders & fertility disorders, increasing focus of clinical research institutes towards the innovation of in-vitro fertilization technologies, and occurrence of lifestyle disorders (obesity & smoking that favour infertility) are further propelling the growth of the global in-vitro fertilization market.
There is always a requirement of high capital & time for the running of in-vitro fertilization procedures, sophistication to maintain the in-vitro fertilization procedures, chances of occurrence multiple pregnancies, presence of ethical issues pertaining to selection of gender population, and most importantly, unawareness of infertility issues in certain under-developed economies are restraining the growth of the global in-vitro fertilization market.
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Global in-vitro fertilization market is segmented based on reagents & media, instruments, technology, and end users. Based on reagents & media, the market is further sub-segmented as embryo culture media, cryopreservation media, sperm processing media, and ovum processing media. Of these, cryopreservation media accounted for the largest share of the global in-vitro fertilization market by reagents & media in 2015. Based on instruments, the market is segmented as imaging systems, sperm separation systems, ovum aspiration pumps, incubators, micromanipulator systems, cryosystems, and other instruments (gas analysers, laser systems, accessories). Of these, imaging systems commanded the largest share of the global in-vitro fertilization market by instruments in 2015, whereas, sperm separation systems segment is expected to grow at the highest CAGR during forecast period 2015-2020.
Based on technology, the market is segmented as intra-cytoplasmic sperm injection, pre-implantation genetic diagnosis, frozen embryo transfer/replacement, and other technologies. Among these, intra-cytoplasmic sperm injection segment accounted for the largest share of the global in-vitro fertilization market by technology in 2015. Based on end users, the market is segmented as fertility & surgical centres, hospitals & research laboratories, and cryobanks. Of these, fertility & surgical centres segment commanded the largest share of the global in-vitro fertilization market by end users in 2015.
On the basis of geographical region the global in-vitro fertilization market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe commanded the highest share of 37.0% of the global in-vitro fertilization market in 2015, whereas Asia-Pacific is estimated to grow at the highest CAGR of 18.40% during the forecast period 2015-2020.
The key players in global in-vitro fertilization market such as, Cooper Surgical, Inc. (U.S.), Vitrolife AB (Sweden), Cook Medical, Inc. (U.S.), Irvine Scientific (U.S.), Thermo Fisher Scientific, Inc. (U.S.), EMD Serono, Inc. (U.S.), Genea Limited (Australia), ESCO Micro Pte. Limited (Singapore), IVFtech ApS (Denmark), and the Baker Company, Inc. (U.S.).
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.