Tremendously popular, IVF (In-vitro fertilization) Devices are perceiving an upsurge demand and its market is garnering more attention on the global platform over the last few years with the emerging technologies. Growing prevalence of infertility and gynaecological disorders is escalating the Global In Vitro Fertilization Device Market rapidly escorting it to the ascended level.
Accrediting the phenomenal growth prospect the In-vitro fertilization Devices market is demonstrating currently; the Market Research Future, recently published a meticulous study report giving out the complete market insights up till 2022. According to which the global market of IVF Devices is expected to be a prominent market, in the years to come. MRFR also asserts that demonstrating a spectacular growth, the Global In-vitro fertilization Devices Market will rise up to USD 5.2 billion by 2022, registering a whooping double digit CAGR – 11.7% during the forecast period (2016 – 2022). In 2015, the market size of IVF devices market was USD 3.5 billion, which can be considered as almost a twofold growth.
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According to a recent study report published by the Market Research Future, The global In Vitro Fertilization Device Market is booming and expected to gain prominence over the forecast period growing rapidly. The global In Vitro Fertilization Device market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking double digit CAGR during the anticipated period (2016 – 2022). Globally the market for IVF Device is expected to reach from USD 3.5 billion in 2015 at the rate of about 11.7% during 2016 to 2022.
The market is immensely growing due to increasing need of fertilization procedures globally. In vitro fertilization is an assisted reproductive technology (ART) ideally referred as IVF. This procedure includes separating eggs, recovering a sperm sample followed by physically combining the egg and sperm in a research laboratory. Embryo is then transferred to the uterus. Heady lifestyles mirror the demand for In-vitro fertilization Device. Hectic schedule, change in lifestyle, stress, tension coupled with other reasons are responsible for deteriorated health and the issue of infertility. globally there is huge demand for IVF Device in various regions. Factors that influence the IVF Device market are increasing technological advancement in healthcare that supports the desired results, further increasing the IVF devices market growth globally. Medical tourism in developing countries like India, China, and Pakistan are driving the market for IVF Device in those countries. Further providing impetus to the growth of global Vitro Fertilization Device Market. Moreover, increasing development in biological substitutes is influencing the global market for IVF Device. Additionally, the government funding to encourage egg/sperm freezing so as to bring down the chances of multiple pregnancies coupled with the technological advancement, enabling pre-identification of the genetic disorder along with the various technological revolutions are pervasively fostering the market growth.
On the other hand, factors such as paradox of choices due to availability of too many options in the market, low adoption of these products in countries having inherent potential, device related issues and controversies built around the In-vitro fertilization Devices; are anticipated to present challenges to the market growth during the forecast period.
In Vitro Fertilization Device Market – Competitive Analysis
EMD Serono, Inc., Irvine Scientific, Cooper Surgical, Inc., hermo Fisher Scientific, Inc., Genea Biomedx, Auxogyn, Inc., Oxford Gene Technology and OvaScience, Inc Vitrolife AB, Cook Medical, Inc., and Esco Micro Pte. Ltd are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global In Vitro Fertilization Device Market.
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The IVF Devices market appears to be highly competitive and fragmented with the presence of several well-established and small players. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion.
International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. Key players operating in this market are employing strategies of creating alliances with e-commerce partners and maintaining distribution agreements with strong local players in regions such as Western Europe and APEJ to consolidate their position.
Industry/Innovation/Related News:
December 02, 2017 – Dallas hospital (US) announced the first U.S. birth for woman with transplanted uterus with the help of In-Vitro fertilization devices in Texas. Experts from Baylor and Baylor Scott & White Research Institute confirming the news further confirmed that when a woman has a transplanted uterus, In vitro fertilization is the only way she can become pregnant because the ovaries are not connected to the transplanted womb.
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In Vitro Fertilization Device Market – Regional Analysis
Globally, America is the largest market of IVF device. On the other hand countries like U.S. and Canada plays an important role in the growth of this market. Europe is expected to be the second largest market since it is also expected to show high growth by the end of the forecast period. Furthermore Asia pacific market is expected to be the fastest growing market for IVF Device.
North America holds about 45% market share for the global IVF Device market, this is mainly because of the financial support from the government for research and development in the region. Moreover North America in IVF Device is growing rapidly due to increasing R&D funding and companies are more in to developing new technologies for the advancement of IVF Device. Europe is the second-largest market for IVF Device. Asia Pacific is expected to be fastest growing market for IVF Device from 2016 to 2022.
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