Global in-vitro fertilization market is expected to reach USD 3.72 billion by 2021 from USD 1.75 billion in 2016, growing at a CAGR of 16.4%
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According to the report Global in-vitro fertilization market, published by Market Data Forecast, The Market is expected to reach USD 3.72 billion by 2021 from USD 1.75 billion in 2016, growing at a CAGR of 16.4% during the forecast period 2016-2021. In-vitro fertilization (IVF) involves the fertilization of ovum using laboratory settings followed by implantation into uterus.
In-vitro fertilization is also known as assisted reproductive technology. The process involves the collection of matured healthy eggs and sperms from the partners, or known or anonymous donors.
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One cycle of in-vitro fertilization takes around 10-15 days. IVF is most widely accepted method for the fertility treatments in clinical industry and helpful for the couples with infertility problems, single mothers, as well as LGBT communities.
The major product categories that assist in-vitro fertilization method include reagents & media (such as embryo culture media, sperm processing media) and instruments (sperm separation system, cryosystems).
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Growing number of delayed pregnancies among women, rising awareness pertaining to infertility consequences, and presence of favorable reimbursement systems are driving the growth of the global in-vitro fertilization market. In addition, increasing technological advancements in in-vitro fertilization procedures (embryoscope & capsule in-vitro fertilization), rising medical tourisms across the major countries, growing gynecological disorders & fertility disorders, increasing focus of clinical research institutes towards the innovation of in-vitro fertilization technologies, and occurrence of lifestyle disorders (obesity & smoking that favor infertility) are further propelling the growth of the global in-vitro fertilization market.
However, requirement of high capital & time for the running of in-vitro fertilization procedures, difficulties to maintain the in-vitro fertilization procedures, chances of occurrence multiple pregnancies, presence of ethical issues pertaining to selection of gender population, and unawareness of infertility issues in certain under-developed economies are restraining the growth of the global in-vitro fertilization market.
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Global in-vitro fertilization market is segmented based on reagents & media, instruments, technology, and end users. Based on reagents & media, the market is further sub-segmented as embryo culture media, cryopreservation media, sperm processing media, and ovum processing media.
Of these, cryopreservation media accounted for the largest share of the global in-vitro fertilization market by reagents & media in 2015. Based on instruments, the market is segmented as imaging systems, sperm separation systems, ovum aspiration pumps, incubators, micromanipulator systems, cryosystems, and other instruments (gas analyzers, laser systems, accessories).
Of these, imaging systems commanded the largest share of the global in-vitro fertilization market by instruments in 2015, whereas, sperm separation systems segment is expected to grow at the highest CAGR during forecast period 2015-2020.
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Based on technology, the market is segmented as intra-cytoplasmic sperm injection, pre-implantation genetic diagnosis, frozen embryo transfer/replacement, and other technologies. Among these, intra-cytoplasmic sperm injection segment accounted for the largest share of the global in-vitro fertilization market by technology in 2015.
Based on end users, the market is segmented as fertility & surgical centers, hospitals & research laboratories, and cryobanks. Of these, fertility & surgical centers segment commanded the largest share of the global in-vitro fertilization market by end users in 2015.
On the basis of geographical region the global in-vitro fertilization market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe commanded the highest share of 37.0% of the global in-vitro fertilization market in 2015, whereas Asia-Pacific is estimated to grow at the highest CAGR of 18.40% during the forecast period 2015-2020.
The key players in global in-vitro fertilization market such as, CooperSurgical, Inc. (U.S.), Vitrolife AB (Sweden), Cook Medical, Inc. (U.S.), Irvine Scientific (U.S.), Thermo Fisher Scientific, Inc. (U.S.), EMD Serono, Inc. (U.S.), Genea Limited (Australia), ESCO Micro Pte. Limited (Singapore), IVFtech ApS (Denmark), and The Baker Company, Inc. (U.S.).
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