Global In Vitro Fertilization (IVF) Hormones Market Highlights 2020-2029
The global in vitro fertilization (IVF) hormones market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The market is primarily driven by the lowering fertility rate worldwide, growing distress among the majority of couples for the incidences of infertility caused either by physiological or genetically arrived disorders, along with the increasing concerns for obesity and male infertility. According to the statistics by the World Bank, the fertility rate around the world decreased from 2.696 (births per woman) in the year 2000 to 2.415 in the year 2018.
Introduction to In Vitro Fertilization (IVF) Hormones
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In vitro fertilization (IVF) is referred to the process of human reproduction where eggs from a woman’s ovaries are harvested and then fertilized in an artificial setting, and later implanted back into the uterus of the woman. This form of assisted reproductive technology (ART) solves problems related to infertility among both men and women. IVF hormones are referred to the fertility drugs that are given to men to produce sperms in case of male factor infertility, and in women to boost egg production, which further helps the women to achieve pregnancy through the process of IVF.
Market Size and Forecast
According to the statistics by the World Health Organization (WHO), globally around 186 million individuals and 48 million couples live with infertility.
The global in vitro fertilization hormones market is thriving primarily on account of the growing demand for IVF procedures, which has spiked significantly in the last few years, backed by the increasing incidences of infertility and therefore the need amongst individuals to undergo an IVF procedure. IVF has emerged as a revolutionary technique that helps couples to have their own child y allowing the fertilization procedure outside the body. IVF hormones help to catalyze the process by stimulating the production of eggs or sperms in women and men respectively. The market is segmented by type into follicle-stimulating hormone (FSH)/gonadotropin-releasing hormone agonist (GnRH), and luteinizing hormone (LH). Among these segments, the follicle-stimulating hormone (FSH) segment is anticipated to hold the largest market share by the end of 2021. The growth of the segment can be attributed primarily to the ability of the hormone to stimulate the growth of the small follicles which increases the success rate of pregnancy through IVF, along with the high preference of the healthcare practitioners for the utilization of FSH.
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Growth Drivers
Growing Concern for the Rising Infertility Rate Among Individuals to Propel the Growth of the Market
According to the Centers for Disease Control and Prevention (CDC), PCOS is one of the most common causes of female infertility amongst the US women of reproductive age, affecting as many as 5 million individuals (6% to 12% of US women of reproductive age).
One of the major causes of infertility in women is due to the occurrence of polycystic ovary syndrome (PCOS), which is linked to being overweight or having a family history of type 2 diabetes or PCOS. Rising awareness for infertility treatment, owing to the increasing incidences of infertility, rising cases of PCOS, and the growing number of couples who defer childbearing, are some of the factors anticipated to drive the demand for the use of IVF hormones, and in turn, drive the market growth. Moreover, increasing advancements in the field of IVF treatments, along with the growing success rate of IVF treatments are some of the additional factors anticipated to drive the growth of the IVF hormones market in the coming years.
Restraints
High Cost of IVF Treatment and Health Risks Associated with the utilization of IVF Hormones to Hamper the Market Growth
With numerous advantages associated with in vitro fertilization treatment procedures, there also lies numerous disadvantages, that are anticipated to hamper the market growth. One of the primary challenges associated with the growth of the market is the high cost of IVF treatment, which directly affects the demand for IVF hormones. Alternatively, the concern for risk of multiple births upon the use of these hormones, along with the severe reactions caused by the fertility drugs, such as ovarian hyperstimulation syndrome, and the social barriers present in several under-developed and developing nations for adopting IVF treatment, are some of the major factors anticipated to lower the market growth in the coming years.
Market Segmentation
Our in-depth analysis of the global in vitro fertilization (IVF) hormones market includes the following segments:
By Type
- Follicle-Stimulating Hormone (FSH)/Gonadotropin-Releasing Hormone Agonist (GnRH)
- Luteinizing Hormone (LH)
By Gender
- Male IVF Hormones
- Female IVF Hormones
By Region
On the basis of regional analysis, the global in vitro fertilization (IVF) hormones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions. Among these regions, the market in Europe is projected to witness the highest market share by the end of 2029, backed by the increasing adoption of IVF procedures amongst individuals, and the increasing support of the government for raising awareness for IVF treatments. According to the statistics by the Human Fertilisation & Embryology Authority (HFEA), in the year 2018, around 54000 patients had 5651 donor insemination (DI) cycles and 68724 fresh & frozen IVF cycles at fertility clinics licensed by the HFEA in the United Kingdom.
The global in vitro fertilization (IVF) hormones market is further classified on the basis of region as follows:
- North America (US, Mexico and Canada) Market size, Y-O-Y growth and Opportunity analysis.
- Europe (Germany, France, Italy, Belgium, Spain, UK, Russia, Netherlands and Other parts of Europe) Market size, Y-O-Y growth and Opportunity analysis.
- Asia Pacific (Japan, India, China, Malaysia, Australia, Indonesia, Thailand and rest of Asia Pacific) Market size, Y-O-Y growth and Opportunity analysis.
- Latin America (Argentina, Brazil and rest of Latin America) Market size, Y-O-Y growth and Opportunity analysis.
- Middle East & Africa (Saudi Arabia, Egypt, United Arab Emirates and South Africa) Market size, Y-O-Y growth and Opportunity analysis.
Top Featured Companies Dominating the Market
- Merck KGaA
- Company overview
- Business Strategy
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- Risk Analysis
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- SWOT Analysis
- GENPHARM
- Aquatic Group
- BioVendor – Laboratorni medicina a.s.
- Biogenix Inc. Pvt. Ltd.
- Midas Pharma GmbH
- Empower Pharmacy
- Kamiya Biomedical Company
- BBI Solutions
- Lee Biosolutions, Inc.
