The ‘Global In Vitro Fertilization Market Size, Share, Price, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global in vitro fertilization market, assessing the market on the basis of its segments like type, cycle, instrument, end-user, and major regions.
Global In Vitro Fertilization Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 23.32 billion
- Forecast CAGR (2023-2028): 7.10%
- Forecast Market Size (2028): USD 35.19 billion
The global in vitro fertilization market growth is being driven by the increasing prevalence of infertility and improved accessibility of in vitro fertilization (IVF) procedures. Various factors are contributing to increasing infertility in women and men worldwide, including delayed childbearing, unhealthy lifestyles, poor diets, genetics causes, stress, and environmental pollution. In vitro fertilization has shown to be effective in combating both female and male infertility as the fertilization process takes place in the lab. Depending upon the specific causes of infertility, donated ovum, donated sperm, or gestational carriers can be used, thereby increasing the chances of a successful pregnancy.
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Fertility clinics are a significant end-user of the in vitro fertilization market and are projected to witness continued growth in the coming years. For couples facing fertility issues, fertility clinics are often the first choice as these clinics offer comprehensive diagnostics and treatment options. With a team of specialists and qualified personnel they can guide users in identifying the cause of infertility and outlining suitable options. Expansion of fertility clinics globally is improving the accessibility of in vitro fertilization and other assisted reproductive technologies, catering to a wider audience. Fertility clinics also reduce the risk of hospital-acquired infections and have the technologies and capabilities needed to perform successful in vitro fertilization, further bolstering the in vitro fertilization market.
In Vitro Fertilization Industry Definition and Major Segments
In vitro fertilization is a leading type of assisted reproductive technology where eggs are extracted from ovaries and fertilised with sperm in invitro, or outside the body, in a lab setting. The process typically involves boosting the functioning of the ovaries, extracting ovum, fertilising the ovum with sperm, and later implanting into the mother or gestational carrier.
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Based on type, the market is divided into:
- Conventional IVF
- IVF with ICSI
- IVF with Donor Eggs
On the basis of cycle, the market is classified into:
- Fresh Non-Donor IVF Cycles
- Frozen Non-Donor IVF Cycles
- Frozen Donor IVF Cycles
- Fresh Donor IVF Cycles
By instrument, the market is segmented into:
- Disposable Devices
- Culture Media
- Capital Equipment
On the basis of end-user, the market is divided into:
- Fertility Clinics
- Hospitals and Surgical Centres
- Research Institutes
By region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
In Vitro Fertilization Market Trends
Rising awareness regarding in vitro fertilization, through online channels, media, social media, and fertility clinics is a key trend influencing the in vitro fertilization market. As success rates of IVF continue to increase, supported by advancements in technology and techniques, more people struggling to conceive are turning to IVF. Since the fertilization process takes place in lab settings, increased monitoring is possible, leading to higher fertilization success rates.
Increasing prevalence of ovum and sperm donation are also aiding the market for in vitro fertilization by providing access to healthy ovum and sperm that can be used in IVF processes. For couples facing challenges with ovum or sperm production or quality, donated ovum and sperm can help them in completing IVF and having a child. Improvements in freezing technology for ovum and sperm has also aided the market for IVF, by enabling couples to freeze their ovum and sperm for use at later point in life.
Regionally, the in vitro fertilization market in the Asia Pacific is expected to witness rapid growth, aided by the increasing prevalence of infertility, development of fertility clinics, changing regulatory environments, and fertility tourism. Due to the presence of qualified and low cost fertility clinics in the region, fertility tourism is on the rise, with more men and women travelling to countries in the Asia Pacific for fertility and IVF treatments.
Key Market Players
The major players in the global in vitro fertilization market report are Boston IVF, Monash IVF, Pelargos IVF, Ovation Fertility, RSMC, Bloom IVF Centre, and Pacific Fertility Center, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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