LOS ANGELES, Dec. 20, 2022 (GLOBE NEWSWIRE) — 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.
In Vitro Fertilization Market Statistics
- Global in-vitro fertilization market revenue was worth USD 21.6 billion in 2021, with a 6.1% CAGR from 2022 to 2030
- Europe in-vitro fertilization market share gathered more than 37% in 2021
- Asia-Pacific in-vitro fertilization market growth is expected to expand at a CAGR of 6.7% from 2022 to 2030
- By type, the frozen non-donor category capture over 45.8% of total market share in 2021
- Rising success rate of IVF technology, drives the in vitro fertilization market value
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In Vitro Fertilization Market Coverage:
|Market||In Vitro Fertilization Market|
|In Vitro Fertilization Market Size 2021||USD 21.6 trillion|
|In Vitro Fertilization Market Forecast 2030||USD 36.2 trillion|
|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|
|Segment covered||By Instrument, By Type, By End Use, And By Geography|
|In Vitro Fertilization Market 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.|
|report coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
In Vitro Fertilization Market Overview
In vitro fertilization (IVF) has grown in popularity as a sort of assisted reproduction technology for the treatment of infertility and prenatal pregnancy over time. During the IVF procedure, sperm and an egg are mixed in vitro. This method can be used to conceive in individuals who are incapable of doing so naturally. The expansion of the in vitro fertilization industry is being significantly accelerated by the increase in infertility instances all over the world. Worldwide, 186 million people and 48 million couples struggle with infertility, according to the World Health Organization (WHO). In vitro fertilization will continue to be in need during the predicted period as a result of this.
In Vitro Fertilization Market Trends
The IVF market is fueled by the rising incidence of infertility brought on by lifestyle changes, government initiatives to improve repayment policies, and ongoing efforts from industry participants. The creation of male infertility treatments like ICSI ought to have a positive effect on development in the near future. Additionally, genomic testing that can stop the transfer of hereditary disorders during IVF is anticipated to be made available to market participants. Insurance companies were urged to start paying for these operations more frequently. Increasing numbers of IVF procedures finally, this led to competitive pricing, which decreased treatment costs and encouraged the market to adopt more treatment uniformity and automation.
The primary driver of the reduced TFR is societal behavioral change. This change is due to the rise in the proportion of working-age women, the aging of the mother population, and the migration from rural to urban communities. Such variables are anticipated to be driven by the in vitro fertilization market over the predicted period. Fat accumulation is another element that contributes to the rise in infertility. By releasing male hormones, abdominal fat preventively stimulates follicles. Increased fat stores in men impaired testosterone production and spermatogenesis.
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In Vitro Fertilization Market Segmentation
The global in-vitro fertilization market has been segmented by Acumen Research and Consulting based on type, instrument, and end-use. By type, the segment is separated into frozen non-donor, frozen donor, fresh non-donor, and fresh donor. According to the in-vitro fertilization market forecast, the frozen donor category is predicted to develop significantly in the next few years.
In terms of instrument, the market is categorized into culture media, capital equipment, and disposable devices. Moreover, the market is split into fertility clinics, and hospitals & others, based on the end-use. In 2021, fertility clinics accounted for the largest market share; this segment is anticipated to continue to dominate during the projected period. There is a significant growth in fertility clinics & ART centers as the desire for IVF treatments develops. Couples with design issues can get guidance from licensed fertility clinics. IVF therapies for couples are planned by physicians & professionals, based on the severity of their problems. Modern tools like non-invasive RFID tags, micromanipulation, and many more are available at fertility clinics. This aspect is anticipated to further accelerate market growth during the anticipated time frame.
In Vitro Fertilization Market Regional Overview
Based on the region, the worldwide in-vitro fertilization market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to an in-vitro fertilization industry analysis, North America is expected to grow significantly in the market over the next few years. The appearance of an effective compensation framework, including US$ 50 million 5-year US Defense Department schemes for freezing sperm/egg coverage, is expected to drive growth in the region over the coming years. A growing number of newly opened clinics will also increase regional demand for better fertility success rates. In Europe, the National Health Service covers three IVF cycles as well as the freezing of gametes. Furthermore, because the majority of egg donors are in countries such as Spain, the region is gaining international markets.
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In Vitro Fertilization Market Players
The In-Vitro Fertilization (IVF) market is highly consolidated, with many manufacturers. Major market players’ company profiles include major business approaches, company overviews, and revenues. Some of the prominent in-vitro fertilization market companies are EMD Serono Inc., Irvine Scientific, Boston IVF, Vitrolife AB, Cooper Surgical Inc., Genea Biomedx, Cook Medical Inc., OvaScience, Thermo Fisher Scientific Inc., and Progyny, Inc .
Questions Answered By This Report
- What was the market size of In Vitro Fertilization Market in 2021?
- What will be the CAGR of In Vitro Fertilization Market during the forecast period from 2022 to 2030?
- Who are the major players in Global In Vitro Fertilization Market?
- Which region held the largest share In Vitro Fertilization Market in 2021?
- What are the key market drivers In Vitro Fertilization Market?
- Who is the largest end user In Vitro Fertilization Market?
- What will be the In Vitro Fertilization Market value in 2030?
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