The demand for IVF procedures in surgical centers is on a rise due to these centers providing facilities for surgical sperm retrieval and fertility enhancing surgeries such as tubal surgery, tubal reversal surgery, and various other techniques that can eventually lead to conception. The rise in the number of fertility clinics also allows couples to choose clinics based on their convenience, thus pushing the demand for IVF devices globally. Also, increasing awareness amongst couples facing infertility issues seek medical help, which in turn fuels the IVF market growth.
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However, device related issues and controversies about in-vitro fertilization devices are anticipated to present challenges to the market growth during the forecast period. On the other hand, government funding for egg/sperm freezing processes which brings down the chances of multiple pregnancies and technological advancement which assists in pre-identification of any genetic disorder can foster market growth. Hectic schedule, changing lifestyle, stress, and tension can create issues of infertility. This can create opportunities for the market.
The Global Market for in Vitro Fertilization (IVF) Device is projected to surge at a CAGR of 11.7% during the forecast period (2018-2022), as analyzed by experts from Market Research Future (MRFR). Rise in infertility rates, surge in the availability of technologically advanced products, steady success of the IVF procedure, and a rise in fertility tourism worldwide has helped this market gain prominence worldwide.
IVF trends are driving the market immensely, which include usage of IVF for prevention of diseases, increase in availability of cheap 23andMe type genetic screening for prevention of passing on of genetic diseases, and progressing techniques aimed at oocyte (egg) factor infertility to rejuvenate the eggs of the patient.
In Vitro Fertilization Device Market – Competitive Landscape
In November 2016, The Cooper Companies, Inc. announced the acquisition of Wallace, the in-vitro fertilization (IVF) segment of Smiths Medical by CooperSurgical. The acquisition provides strategic benefit to CooperSurgical’s existing IVF portfolio as Wallace brings the gold standard of embryo transfer catheters along with some of the premier products like oocyte retrieval needles.
In June 2016, Cooper Surgical acquired Reprogenetics UK of Oxford, United Kingdom. Reprogenetics UK is a terrific addition to CooperSurgical’s industry leading ART portfolio of IVF and genetic testing solutions.
In Vitro Fertilization Device Market – Principal Players
Some of the key players in this market are: 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., Esco Micro Pte. Ltd and others.
In Vitro Fertilization Device Market – Regional Analysis
The IVF Device Market is spread across North America, Europe, Asia Pacific, and Middle-East.
Among all regions, North America holds the largest share of IVF device market. Countries such as the United States (U.S.) and Canada are major revenue generators of the North America market. Surge in disposable incomes, health insurance portability, and rise in advertising and marketing of medical facilities to promote IVF devices augment the market growth in this region. Moreover, industry players introducing more IVF treatments in the region leads to immense growth of IVF device market. Also, presence of favorable reimbursement framework helps the market growth. For instance, in 2016, U.S.A’s Department of Defense had implemented a 5-year plan to freeze eggs/sperm of troops which would also cover the cost incurred for active service members of the U.S military.
Europe is projected to be the second largest market as it is anticipated to exhibit a massive growth rate during the forecast period (2016-2022). High quality of treatments offered at economical price and adherence to medical standards have contributed to the market dominance in this region. Furthermore, the region attracts international clients who have high number of egg donors and clinics in Europe also provide large number of IVF treatments. These factors predominantly aid the market progress.
Also, the market in Asia Pacific region is deemed to be the fastest growing market for IVF devices. Increasing penetration of foreign industries into developing economies, fertility tourism, and changing regulatory landscape thrust the market on an upward trajectory in this region. Furthermore, increasing awareness of infertility and improvement in infertility-related services leave a positive impact on the market growth. For instance, the Asia Pacific Initiative on Reproduction (ASPIRE) is a task force of clinicians and scientists involved in the monitoring and management of fertility and Assisted Reproductive Technology (ART). Such initiatives promote awareness among the population in terms of IVF procedures and their benefits, thus driving the IVF devices market in this region.
The Middle-East in-vitro market is on a meteoric rise as well due to changing lifestyle conditions, delayed pregnancy, gynecological conditions, reduced ovarian reserve in female population, and fertility disorders.
In Vitro Fertilization Device Market – Segments
Global In Vitro Fertilization Device Market has been segmented on the basis of devices which comprises accessories and disposables, micromanipulator imaging system, cabinet, ovum aspiration pump, sperm separation system, incubators, cryosystem and others. On the basis of technology the market is segmented into frozen embryo transfer technique, donor egg IVF technique, fresh embryo transfer technique and others. Further on the basis of end users the market is segmented into surgical centers, clinical research institutes, fertility clinics, hospitals and others.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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