The global in vitro fertilization market size is projected to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising infertility rate and surge in IVF success rate.
In vitro fertilization (IVF) is a type of assistive reproductive technology, which removes mature egg from women ovaries and fertilize them with sperm in a laboratory dish outside the womb. IVF helps people with infertility who want to have a baby. Using multiple eggs increases the chances of developing a viable embryo. It is an expensive and invasive procedure. This procedure includes usage of fertility drugs or having intrauterine insemination.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness of advancements about IVF techniques is projected to boost the market growth in the coming years.
- Growing median age of first time mother is anticipated to drive the market growth during the forecast period.
- High maintenance cost of IVF procedures is estimated to restrict the market growth.
- Reducing efficacy of infertility treatment among patients with advancing age can create challenges for the market growth.
- Increasing medical tourism in emerging nations is anticipated to create significant opportunities for the market players.
Scope of the Report
The report on the global in vitro fertilization market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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In Vitro Fertilization Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Reagents and Instruments [Imaging Systems, Incubators, Cryosystems, IVF Cabinets, Ovum Aspiration Pumps, Sperm Separation Systems, Micromanipulator Systems, and Others]) and End-users (Fertility Clinics, Hospitals, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Merck KgaA; Thermo Fisher Scientific Inc.; Vitrolife AB; Nikon Corporation; and Fujifilm Holding Corporation
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In Vitro Fertilization Market Segment Insights
Incubators instrument segment to hold a significant market share
Based on products, the market is divided into reagents and instruments. The instrument is further segmented into imaging systems, incubators, cryosystems, IVF cabinets, ovum aspiration pumps, sperm separation systems, micromanipulator systems, and others. The reagents segment is anticipated to hold a key share of the market in the coming years. However, the incubators instrument segment is anticipated to expand at a rapid pace during the forecast period owing to ability to control humidity and protect baby’s skin from losing too much water.
Hospitals segment is anticipated to constitute a large market share
On the basis of end-users, the market is segmented into fertility clinics, hospitals, and others. The fertility clinics segment is projected to constitute a major market share during the forecast period due to presence of highly advanced procedures and equipment. On the other hand, the hospitals segment is anticipated to expand at a rapid pace during the forecast period.
North America is estimated to account a major market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a significant share of the market during the projected period owing to the rising prevalence of associated conditions such as polycystic ovary syndrome (PCOS). However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to rising government support for fertility treatments. The growth of the market in region is attributed to increasing demand for IVF in countries such as India and China. Moreover, increasing awareness about the same in these emerging economies is driving the market growth in Asia Pacific.
Segments
The global in vitro fertilization market has been segmented on the basis
Products
- Reagent
- Instrument
- Imaging Systems
- Incubators
- Cryosystems
- IVF Cabinets
- Ovum Aspiration Pumps
- Sperm Separation Systems
- Micromanipulator Systems
- Others
End-users
- Fertility Clinics
- Hospitals
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Merck KgaA
- Thermo Fisher Scientific Inc.
- Vitrolife AB
- Nikon Corporation
- Fujifilm Holding Corporation
Competitive Landscape
Key players competing in the in vitro fertilization market includes Merck KgaA; Thermo Fisher Scientific Inc.; Vitrolife AB; Nikon Corporation; and Fujifilm Holding Corporation.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.