According to Acumen Research and Consulting, the global In-Vitro Fertilization (IVF) market size is estimated to grow at CAGR above 9.8% over the forecast time frame and reach the market value around USD 38.7 billion.
Growth is likely to be driven by increasing infertility and advanced technology such as lensless sperm imaging. Infertility affects around 6.7 million US women, which account for approximately 11.0 percent of the reproductive population, according to the American Society for Reproductive Medicine (ASRM). In addition, 25% of pairs have more than one infertility factor.
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The average age of the married and first child of women and men is growing. The number of women seeking IVF therapy has grown. In addition, several women freeze up their eggs to have a child in the future to focus on their careers. The government's funding for egg-sperm freezing is expected to reduce the chances of multiple pregnancies, technological developments enabling genetic disorder preidentification, and several industrial revolutions to boost market growth.
IVF consists of media for culture, equipment for capital and disposable instruments for IVF. Due to the high government funding, increased research activities to improve culture media and the ability to maintain sperm while at the same time reducing its quality, the cultural media held the biggest market share in 2018. The major media used during in-vitro fertilization are the semen processing media, cryopreservation media, egg processing media and embryonic culture media. The stipulate for egg processing media is anticipated to increase with the establishment of huge egg cryobanks in the coming years, too.
The industry's players introduce not reusable devices such as slides, needles, chambers and others with the necessitate for elevated standard of sterile conditions and strict regulatory requirements. Therefore, during the projection period, the segment of disposable equipment will increase at the fastest rate. Increasingly, demand or capital resources are expected to grow as patients opt for in-vitro fertilization and game freezing. As a result, businesses develop high-automation equipment.
Frozen Nondonor segment to grow at peak CAGR
The market was divided into fresh, frozen, nondonorous, fresh donors and frozen donors based on the type. Due to the high success rate in the first attempt, the new non-donor segment accounted for the largest market share in 2018. The frozen non-containers segment will probably experience the most rapid growth in the next few years because it can be used in complicated cases, such as Ovarian Hyperstimulation Syndrome (OHSS) patients. Moreover, better implantation rate, increased birth rate for live children, more birth weight, lower rate of erroneous pregnancy and reduced ectopic pregnancies, during the forecast period, are expected to drive demand for the procedure.
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Europe led the market in 2018 to remove the title experimental from the cryopreservation of eggs, and the first to grant legal approval to the IVF or with the mitochondrial transfer technology, as it was the first region to implement this procedure. In addition, the growth is driving medical tourism in Europe. People fly from the United States to Czech Republic because of the cost. Institutes introduce new technologies which offer an affordable improved success rate. For example, in order to increase the success rate of treatment, the Valencian Infertility Institute in Spain has developed different methods for fertility. France and Germany and the United Kingdom In the region, they are the major contributors. Around 19,000 births of ART occur every year in France. In addition, France's legislation allowed in July 2015 the legalization of substitute children to enable them as other French children of French nationality and rights.
Irvine Scientific, EMD Serono Inc., and OvaScience are Likely to Continue to Lead the Global IVF Market
The In-Vitro Fertilization (IVF) market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are; EMD Serono Inc.; OvaScience; Genea Biomedx; Vitrolife AB; Irvine Scientific; Thermo Fisher Scientific Inc.; Cook Medical Inc.; Cooper Surgical Inc.; Boston IVF, and Progyny, Inc.
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