Infertility is the inability of a person to reproduce naturally. Female infertility is the inability of a woman to become pregnant and carry pregnancy to full term. It is the most common issue faced by couples trying to conceive. The most commonly diagnosed causes of female infertility are ovulation problems, hormonal imbalance, anatomical disorders of the reproductive system such as damage caused to the fallopian tubes, uterus, or cervix; overuse of alcohol or drugs, thyroid gland-associated issues, excessive weight, and stress. A large number of men and women who are infertile due to anatomical factors or chromosomal defects are finding favorable outcomes through in vitro fertilization (IVF). Improper lifestyle changes have also aggravated the problem of infertility.
Rise in infertility rate among men and women in several developing and developed regions has led to increase in demand for in vitro fertilization procedures. In several developed countries, IVF is gaining prominence among fertile couples who are suffering from genetic diseases and do not want to transfer these to their offspring. Recent advancements in IVF devices and reagents also augurs well for the market. Rise in medical tourism in some developing countries is expected to present significant opportunities in the market in the next few years.
The global IVF devices and consumables market can be segmented based on product type, end-user, and region. In terms of product type, the market can be categorized into equipment, reagents, and others. The reagents segment is projected to account for major IVF devices and consumables market share during the forecast period owing to high usage of consumable products during the in vitro fertilization process. Based on end-user, the global IVF devices and consumables market can be classified into hospitals, gynecological clinics, infertility care centers, and research & development laboratories.
In terms of region, the global IVF devices and consumables market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global IVF devices and consumables market owing to high awareness, accurate diagnosis, high spending capacity, and adoption of technologically advanced products. The IVF devices and consumables market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period, attributed to evolving economy, rise in prevalence of hormonal disorders, increase in the number of gynecologists, and availability of IVF facilities even in rural areas of the region. Rise in awareness about infertility therapies among the population in the developing regions such as Latin America and Middle East & Africa are anticipated to drive the IVF devices and consumables market.
Key players operating in the global IVF devices and consumables market include 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.
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