IVF Devices and Consumables Market by Instrument (Incubators, Cryosystem, Imaging System, Cabinet, Ovum Aspiration Pump, Sperm Separation System, Micromanipulator, Accessories and Disposables, and Others), by Reagent & Media (Cryopreservation Media, Semen Processing Media, Ovum Processing Media, and Embryo Culture Media), by Technique (Fresh Embryo Transfer Technique, Frozen Embryo Transfer Technique, and Donor Egg IVF Technique), and by End User (Fertility Clinics, Hospitals, Surgical Centers, and Clinical Research Institutes) - Global Opportunity Analysis and Industry Forecast, 2014-2023
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In-vitro fertilization (IVF) is a type of assisted reproductive technology in which the ovum is artificially fertilized in laboratory settings and then implanted into the uterus. IVF is one of the popular treatments, which has assisted couples with infertility problems, single mothers, and the LGBT community to procreate.
The global IVF devices and consumables market was valued at $1,506 million in 2016, and is estimated to reach at $4,972 million by 2023, registering a CAGR of 18.3% from 2017 to 2023.
The global IVF devices market is projected to witness a substantial growth in future owing to rise in incidence of infertility cases, emerging trend of delayed pregnancies among women, technological advancements in IVF procedures, and increased occurrences of gamete donations.
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Furthermore, rise in health awareness on fertility issues, availability of IVF treatments, increase in disposable income and favorable reimbursement policies further augment the market growth.
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Recent innovations in IVF technology, such as embryoscope and capsule IVF, are anticipated to augment the demand for IVF devices in future. However, strenuous maintenance issues, high cost of devices, multiple pregnancies, and ethical considerations are anticipated to hinder the market growth.
Increase in upsurge of fertility clinics and same sex marriages offer lucrative growth opportunities in future. In addition, fertility tourism provides ample growth opportunities especially in the developing economies.
The global IVF devices and consumables market is segmented into IVF instruments, reagents and media, technique, end users, and geography. The instruments market considered in this report include, sperm separation system, cryosystem, incubator, imaging system, disposables and consumables ovum aspiration pump, IVF cabinet, micromanipulator, IVF accessories and disposables, and others.
In the instruments market, micromanipulator generated the highest revenue owing to its extensive use in various stages of the IVF procedure. However, sperm separation system segment witnesses a significant growth due to its extensive use in healthy sperm selection and gender determination.
Based on reagents and media, the global IVF devices market is categorized into cryopreservation media, semen processing media, ovum processing media, and embryo culture media.
The IVF devices and consumables market by techniques is categorized into fresh embryo transfer technique, frozen egg transfer technique, and donor egg transfer technique. By end-users, it is categorized into fertility clinics, hospitals, surgical centers, and clinical research institutes.
By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report provides extensive competitive analysis and profiles of key market players, such as Cook Medical, Inc., Cooper Companies, Inc., Genea Biomedx, JXTG Holdings, Inc., Merck KGAA, Ovascience, Inc., Oxford Gene Technology, Progyny, Inc. Thermo Fisher Scientific, Inc., and Vitrolife AB.
The other players in the value chain include GlaxoSmithKline PLC (Viiv Healthcare Group of Companies), AbbVie Inc., Bristol-Myers Squibb Company, and AstraZeneca plc and others.
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KEY BENEFITS FOR STAKEHOLDERS
- This report entails a detailed quantitative analysis of the current market trends from 2014 to 2023 to identify the prevailing opportunities.
- Market estimations are based on comprehensive analysis of the key developments in the industry.
- In-depth analysis based on geography assists to understand the regional market and the strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
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