Published: Aug, 2018
The global market for in-vitro fertilization is considered as a highly fragmented market and is projected to remain in the similar scenario in the next few years, states a new research study published by Transparency Market Research. The key players in the market, in order to enhance their market penetration worldwide are focusing on introducing new and innovative business strategies. In addition to this, the rising development activities is predicted to enhance the growth of the overall market in the next few years. Some of the leading players operating in the in-vitro fertilization market across the globe are Rocket Medical PLC, Ovascience, Inc., Vitrolife AB, Genea Ltd., Thermo Fisher Scientific, Inc, Cook Medical, Merck KGaA, Fertility Focus Ltd., CooperSurgical, and EMD Serono, Inc. Furthermore, with the entry of new players, the market is expected to witness a high level of competition among the key players throughout the forecast period.
As per the research study by Transparency Market Research, in 2017, the global market for in-vitro fertilization was worth US$529.8 mn. The market is likely to reach a value of US$725.9 mn by the end of 2022, registering a healthy 6.50% CAGR between 2017 and 2022.
Asia Pacific to Register a Strong Growth in the Global Market
The global market for in-vitro fertilization has been classified on the basis of geography into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. Among these, Asia Pacific is projected to witness a high growth and account for a large share of the overall market in the next few years. As per the research study, the in-vitro fertilization market for Asia Pacific is likely to register a 6.80% CAGR between 2017 and 2022. The rising number of government initiatives and the increasing medical tourism are some of the major factors that are projected to encourage the growth of the market in the next few years. Furthermore, North America is likely to witness a significant growth in the coming years, owing to the rising advancements in the IVF technologies.
The global market for in-vitro fertilization has been classified on the basis of product type into reagents and equipment. Among these, the reagents segment is expected to hold a large share of the global market throughout the forecast period. The rising developments and innovations in this field is considered as one of the key factors estimated to accelerate the growth of this segment in the next few years. The equipment segment, on the other, is projected to witness a healthy growth throughout the forecast period.
Reducing Fertility Rate to Encourage Growth of Market in Near Future
A significant rise in the median age of the first-time motherhood and the reducing fertility rates are considered as the key factors that are projected to encourage the growth of the global in-vitro fertilization market in the next few years. In addition to this, the rise in the male infertility and the rise in the consumption of cigarettes and alcohol are estimated to enhance the growth of the market in the coming few years.
On the flip side, the rising cost and the low success rate of the IVF treatment and the increasing health concerns are some of the factors that are predicted to restrict the growth of the in-vitro fertilization market in the next few years. Nonetheless, the rising consumer awareness regarding infertility and the easy availability of several treatment options are estimated to offer potential growth opportunities for the market players in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “In-Vitro Fertilization Market - (Product Type–Equipment and Reagents; End User - Fertility Clinics, Hospital and Research Laboratories, and Cryobanks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
- The introduction of new and advanced products is one of the key factors estimated to encourage the growth of the in-vitro fertilization market in the next few years.
- The rising awareness among consumers concerning the issues of fertility is projected to enhance the growth of the market in the near future.
The in-vitro fertilization market has been segmented as below:
In-vitro Fertilization Market: Product Type
In-vitro Fertilization Market: End User
- Fertility Clinics
- Hospital and Research Laboratories
In-vitro Fertilization Market: Region
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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