The Global In-Vitro Fertilization Market Size accounted for USD 21.6 Billion in 2021 and is estimated to achieve a market size of USD 36.2 Billion by 2030 growing at a CAGR of 6.1% from 2022 to 2030. Growing male infertility, an increase in the median age of first-time mothers, growing obesity, diminishing fertility rates, with growing alcohol intake are driving the global in-vitro fertilization (IVF) market growth. Furthermore, increased awareness of infertility, combined with the accessibility of enhanced therapeutic approaches, is boosting the in-vitro fertilization market value.
In-Vitro Fertilization Market Report Key Highlights
In-Vitro Fertilization (IVF) is a type of assisted reproductive technique in which in laboratory environments the ovum is artificially fertilized and then implanted into the womb. IVF is one of the most common therapies used for infertility problems in pairs, single mothers, and the LGBT community.
Global In-Vitro Fertilization Market Trends
In-Vitro Fertilization Market Report Coverage
|Market||In-Vitro Fertilization Market|
|In-Vitro Fertilization Market Size 2021||USD 21.6 Billion|
|In-Vitro Fertilization Market Forecast 2030||USD 36.2 Billion|
|In-Vitro Fertilization Market CAGR During 2022 - 2030||6.1%|
|In-Vitro Fertilization Market Analysis Period||2018 - 2030|
|In-Vitro Fertilization Market Base Year||2021|
|In-Vitro Fertilization Market Forecast Data||2022 - 2030|
|Segments Covered||By Instrument, By Type, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||EMD Serono Inc., Genea Biomedx, Irvine Scientific, Cook Medical Inc., Boston IVF, OvaScience, Vitrolife AB, Thermo Fisher Scientific Inc., Cooper Surgical Inc., and Progyny, Inc.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The global in-vitro fertilization (IVF) market size is driven by an increase in infertility, the increase in the trend of delayed pregnancies, an increase in IVF success, and an increase in available earnings worldwide. However, higher costs, IVF-related complications, and low awareness of IVF in certain less-developed regions limit the growth of the in-vitro fertilization (IVF) market revenue.
Due to a risen infertility rate, a rise in delayed pregnancies, an increase in IVF success rate, and a worldwide rise in disposable revenues, the global IVF market value is expected to grow significantly during this period. In some developing regions, the growth of the IVF service market is hampered by high costs, IVF-related complications, and low IVF awareness. Inverse, the growth of fertility tourism, increased fertility clinics and the potential for growth in emerging markets will make way for the development of the IVF services market in the future.
Most IVF requirements are imported in developing African regions and can only be used once in each cycle. The incidence of infertility in Nigeria is about 25% compared with 1015% in the United States and the UK, according to the University of Benin (Nigeria). IVF procedures helped couples manage these high levels of infertility. The low cost of IVF therapy and the rise in fertility tourism trends in South Africa continue to drive Africa's in vitro market growth. On the other hand, lack of funding, poor income, insufficient awareness of IVF, inadequate coverage of health services, and lack of educated professionals impede growth in developing economies of Africa.
In-Vitro Fertilization Market Segmentation
The global in-vitro fertilization market segmentation is based on instrument, type, end-use, and geography.
In-Vitro Fertilization Market By Instrument
According to an in-vitro fertilization industry analysis, the culture media instrument segment held the largest market share in 2021. This expansion was attributed to causes such as increased funding availability as well as a rise in research programs to improve culture media. However, as market players provide disposable equipment such as slides, needles, and chambers to fulfill sterility & regulatory standards, the disposable equipment category is predicted to develop at the quickest rate during the projection years.
In-Vitro Fertilization Market By Type
In terms of type, the frozen non-donor segment is anticipated to dominate the market in 2021. This is due to a variety of causes, including a high success rate, greater birth rates than frozen eggs, simple fertilization, as well as fresh egg retrievals leading to superior results. The increased use of the new non-donor cycle, combined with growing infertility rates around the world, is the main factor in this market. This cycle's rising popularity is likely to maintain its domination throughout the predicted period.
In-Vitro Fertilization Market By End-Use
According to the in-vitro fertilization market forecast, the hospital segment is predicted to increase significantly in the industry in the coming years. The extensive infiltration of hospitals, expanding digital infrastructure in emerging economies, the availability of health experts around the time, and the introduction of modern surgical technologies and innovations in health facilities are the key factors contributing to the growth of hospital services.
In-Vitro Fertilization Market Regional Outlook
The Middle East & Africa
Europe Region Dominates and Asia-Pacific Is Expected To Grow Significantly In Market in the Coming Years
Geographically, Europe is expected to dominate the market in 2021. Increasing medical tourism and legislation modifications connected to IVF treatments will drive regional market expansion in the projected timeframe. Additionally, the Asia-Pacific region is predicted to grow at a rapid pace during the projection period. This is due to a large population, rapidly dropping fertility rates, a spike in the amount of women-focused federal programs, a growing choice for jobs over families among women, and more understanding about fertility clinics & treatments. Growing public awareness of in-vitro fertilization, increasing healthcare spending, and expanding use of sophisticated reproductive technology in Asia-Pacific are major factors of the in-vitro fertilization market.
In-Vitro Fertilization Market Players
Some of the top in-vitro fertilization market companies offered in the professional report includes EMD Serono Inc., Genea Biomedx, Irvine Scientific, Cook Medical Inc., Boston IVF, OvaScience, Vitrolife AB, Thermo Fisher Scientific Inc., Cooper Surgical Inc., and Progyny, Inc.
The estimated value of global in-vitro fertilization market in 2021 was accounted to be USD 21.6 Billion.
The projected CAGR in-vitro fertilization market during the analysis period of 2022 to 2030 is 6.1%.
The prominent players of the global in-vitro fertilization market are Allied Motion Technologies, Inc., Franklin Electric Co., Baldor Electric Company, Inc., General Electric Company, Ametek, Inc., Rockwell Automation, Denso Corporation, Siemens, Johnson Electric Holdings Ltd., and Asmo Co., Ltd.
Europe held the dominating in-vitro fertilization market during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for in-vitro fertilization market during the analysis period of 2022 to 2030.
Rise in the prevalence of infertility and growing rate of obesity & increased alcohol consumption drives the growth of global in-vitro fertilization market.
Based on end-use, fertility clinics segment is expected to hold the maximum share of the in-vitro fertilization market.