In Vitro Fertilization Market and its key opportunities and challenges
The global In Vitro Fertilization Market is projected to be valued at USD 465.2 Million in 2016 and is expected to grow at a CAGR of 10.9% from 2017 to reach to USD 847.8 Million by 2022, as per a report by MarketsandMarkets.
How growing fertility tourism offers an opportunity?
Asia is one of the most preferred destinations for medical care. One of the major factors driving the medical tourism industry in Asia is the low cost for high-quality healthcare facilities delivered by doctors and surgeons trained and educated in the top institutes in the US and Europe.
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According to a survey conducted by the IFFS in 2013, there are more than 600 IVF clinics across India. In addition to the availability of advanced healthcare facilities, the cost of an IVF cycle in India is around 70% lower than that in some developed countries. According to the ASRM, an average IVF cycle in the US costs around USD 12,400, whereas the costs drop dramatically to USD 3,000 in India and USD 4,000 in Thailand. Thus, the low cost of the procedure and quality healthcare facilities in the Asian countries will create growth opportunities for the IVF market in the region.
Why reducing efficacy of infertility treatment with advancing age is a challenge?
The changing social scenario has resulted in an increasing number of older women seeking help from infertility clinics. As a woman ages, it takes her longer to conceive, and the chances of not being able to conceive also increase. Also, the risk of miscarriage and complications in pregnancy and childbirth increases with age.
According to the ASRM, a 30-year-old healthy and fertile woman has about a 20% chance of getting pregnant without assistance every month, whereas for a woman aged 40 years or above, the chance decreases to 5%. Furthermore, for a woman aged 30 years, approximately 40% of IVF cycles results in live births, whereas the success rate reduces to 20% for women older than 40 years. A woman aged 35 years or above is 2.5 times more prone to have a miscarriage or stillbirth than a woman aged less than 35 years; whereas, a woman aged above 40 years is more than five times prone to have a miscarriage or stillbirth than a woman under 35 years of age.
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