Global In-Vitro Fertilization Market: Overview
The rising rate of infertility among men and women in several developing and developed regions has led to the demand for in-vitro fertilization procedures. A growing number of men and women who are infertile due to anatomic factors or chromosomal defects are finding favorable outcomes in IVF as assisted reproductive technologies. A number of improper lifestyle changes also have aggravated the problem of infertility, even after a year of unprotected intercourse between the couples. The growing awareness of male infertility among populations in the Middle East and Africa (MEA) and some parts of Europe has also catalyzed the demand for IVF treatments. In several developed countries, the use of IVF is gaining prominence among fertile couples who are suffering with genetic diseases but do not want to transfer the defects in their offspring. Recent advancements in IVF devices and reagent also augurs well for the market. The rise in medical tourism in some emerging economies is expected to unlock exciting opportunities in the coming years.
The global in-vitro fertilization market is projected to grow from US$529.8 Mn in 2017 to US$725.9 Mn by the end of 2022. The worldwide market is forecast to expand at a CAGR of 6.5% during 2017–2022.
APEJ Projected to be Most Lucrative Market
The major regional markets profiled in the report are North America, Latin America, Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the APEJ holds the major revenue of the global market in 2017 and is expected to retain its dominance through the forecast timeline. Rising at a CAGR of 6.7% from 2017 to 2022, the APEJ in-vitro fertilization market will reach a worth US$235.9 Mn by the end of the forecast period. The dominance is attributed to favorable governmental initiatives and a burgeoning medical tourism in several emerging nations. The regional market will further benefit from players looking to capitalize on opportunities from unmet medical needs.
North America to Rise at Impressive Pace
The North America in-vitro fertilization market is projected to rise from US$141.3 Mn in 2017 to US$196.1 Mn by the end of 2022. The regional market is anticipated to rise at an impressive CAGR of 6.8% during 2017 - 2022. Constant advancements made in IVF technologies and growing insurance coverage are key factors accentuating the regional market. Furthermore, the growth is likely to be fueled by rising rate of infertility in the region.
Meanwhile, Europe in-vitro fertilization market is projected to lose some 44 BPS from 2017 to 2022. By 2017 end, the global share of the regional market is estimated at 19.9%, vis-à-vis revenue. The MEA market is also estimated to lose 11 BPS in its market share from 2017 through 2022.
On the basis of product type, the report segments the in-vitro fertilization market into equipment, reagents, and others. Among these, the reagents holds the major share in the market. The estimated valuation of the segment is US$ 284.1 Mn in 2017, standing for 53.6% and is projected to rise to US$ 385.9 Mn by 2022 end. This will represent a share of 53.2%, an incremental decline in share. However, the annual growth of the segment in absolute terms is US$ 20.3 Mn, which is larger than all other segments. The segment is anticipated to register a CAGR of 6.3% during the forecast period.
Some of prominent players operating in the market are Thermo Fisher Scientific, Inc., Cook Medical, Merck KGaA, Vitrolife AB, Ovascience, Inc., CooperSurgical, EMD Serono, Inc., Genea Ltd., Rocket Medical PLC, and Fertility Focus Ltd. These players are focused on launching advanced technologies that are likely to substantially improve the outcome of the IVF cycles. This will help them gain a competitive edge over others.
Global In-Vitro Fertilization Market: Snapshot
The report on the global in-vitro fertilization market offers a comprehensive assessment of key factors and current and emerging trends impacting the growth of the market. It offers insights into share and size of various segments based on end use and product type in various regions. The threats of entry of new players into the market is also highlighted in the report. The evidence-based findings help in identifying lucrative growth prospects and in strategy formulation. The study also takes a closer look at regulatory landscape governing IVF treatments and the factors that will bode well for the market in the foreseeable future. The report takes into account supply chain structure and pricing analysis and assesses the profile of distributors to get a balanced view of the growth of the market trajectory.
The global in-vitro fertilization market estimated valuation is US$529.8 Mn. in 2017. Witnessing profound potential opportunities in various regions, the market is projected to rise at a CAGR of 6.5% from 2017 to 2022 and reach US$725.9 Mn by the end of the forecast period.
Global In-Vitro Fertilization Market: Dynamics
The reports offers detailed insights into notable trends, emerging opportunities, lucrative avenues, and strategic dynamics. The research offers a granular analysis of the factors that will boost the adoption rate in various regional market. The rising case of infertility in couples owing to various lifestyle factors, including environmental and occupational exposures, is boosting the demand for IVF in various developing and developed regions. A growing number of couples are delaying the family planning, thereby bolstering the demand for assistive reproductive technology such as IVF.
A burgeoning medical tourism in several emerging economies, such India, Brazil, and China has fortified the demand for IVF treatments. The availability of affordable treatments along with the promise of a good outcome in these nations is a key factor contributing to the growth of the in-vitro fertilization market. On the other hand, the comparatively unsuccessful outcome with the first few IVF procedures is a key factor likely to hamper its demand among discerning couples. Nevertheless, the improvement of laboratory infrastructure in developing countries and the advent of novel technologies are key factors expected to accentuate the market.
Global In-Vitro Fertilization Market: Segmentation
The report offers an in-depth segmentation and offers their share and size. The report meticulously tabulates statistics based on year-over-year growth of various product and end-use segments. This helps the readers to have a thorough overview of the market along the historical as well as forecast period (2017 -2022).
The report segments the in-vitro fertilization market based on product type, end use, and geography. Based on product type, the report segments the market further into equipment, reagents, and others. Among these, reagents hold the major share in 2017 and is expected to maintain its dominance. The market will witness the dominant absolute growth over the period 2017 - 2022 and the segment is projected to expand at a CAGR of 6.3% during the same period.
Based on end use, the report segments the market into fertility clinics, hospital and research laboratories, and Cryobanks.
On the basis of region, the report segments the global market into North America, Latin America, Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the APEJ in-vitro fertilization market is the most lucrative market expanding at a CAGR of 6.7% during the forecast period to reach US$ 235.9 Mn by 2022 end. The dominance of the region is driven by burgeoning demand for IVF treatments, attributed to the rising infertility in women and men in several countries. Improvements in health care is likely to further bolster the uptake in the region.
Companies profiled in the report are:
The report offers extensive profiling of prominent players and the strategies adopted by them to gain a competitive edge over others. Some of the leading players operating in the global in-vitro fertilization market are Thermo Fisher Scientific, Inc., Cook Medical, Merck KGaA, Vitrolife AB, Ovascience, Inc., CooperSurgical, EMD Serono, Inc., Genea Ltd., Rocket Medical PLC, and Fertility Focus Ltd.