Research Nester released a report titled “In Vitro Fertilization Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global in vitro fertilization market in terms of market segmentation by product, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
In vitro fertilization is the process of retrieving the eggs from a women’s ovaries and fertilizing them in a laboratory. It is a form of assisted reproductive technology (ART) which is used in cases of male or female infertility. The market for in vitro fertilization is projected to record a CAGR of around 10.3% over the forecast period, i.e., 2019-2027. The market is segmented by product, by end user and by region, out of which, the product segment is further divided into culture media, incubators, cryosystem, IVF cabinets and others. On the basis of product, the culture media segment is anticipated to hold the largest share in the in vitro fertilization market. This can be attributed to the growing research and development activities taking place as a result of increased government funding.
In vitro fertilization market in Europe is anticipated to grow at the highest rate during the forecast period. The growth can be attributed to a growing demand for IVF procedures in the region. Further, the advancements in medical technology in the region leads to the development of improved technologies for IVF treatments. The market in Asia Pacific is estimated to grow at the highest rate during the forecast period on account of rising awareness among people about the availability and convenience of assisted reproductive technology (ART) cycles.
Rising Success Rates for IVF to Support the Market Growth
The increasing number of fertility clinics and IVF services being provided to people is a significant factor which is estimated to drive the market growth. According to the Fertility Clinic Success Rates Report released by CDC, around 284,385 Assisted Reproductive Technology (ART) cycles were performed at 448 reporting fertility clinics in the United States in 2017. These treatments resulted in 68,908 live births in the country, which led to the birth of 78,052 live born infants. The rising demand for these treatments is predicted to lead to an increased number of fertility clinics over the forecast period. However, the high cost and the various health risks and complications associated with the IVF treatment are anticipated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global in vitro fertilization market which includes company profiling of CARE Fertility, Vitrolife, LG Chem, Hunter Scientific Limited, Illumina, Inc., Genea Biomedx, LabIVF Asia Pte Ltd., IVF Store, Swerea AB and INVO Bioscience. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global in vitro fertilization market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.