In-vitro Fertilization Market Overview:
In-vitro fertilization (IVF) involves the fertilization of ovum using laboratory settings followed by implantation into the uterus. In-vitro fertilization is also known as assisted reproductive technology. The process involves the collection of matured healthy eggs and sperms from the partners or known or anonymous donors. These eggs get fertilized using laboratory reagents & media and instruments. Fertilized eggs (embryos) are implanted into the uterus for the continuation of the development of the embryo to the child. One cycle of in-vitro fertilization takes around 10-15 days. IVF is the most widely accepted method for fertility treatments in the clinical industry and helpful for couples with infertility problems, single mothers, as well as LGBT communities. The major product categories that assist in-vitro fertilization method include reagents & media (such as embryo culture media, sperm processing media) and instruments (sperm separation system, cryosystems).
Growing number of delayed pregnancies among women, rising awareness pertaining to infertility consequences, and the presence of favorable reimbursement systems are driving the growth of the global in-vitro fertilization market. In addition, increasing technological advancements in in-vitro fertilization procedures (embryoscope & capsule in-vitro fertilization), rising medical tourism across the major countries, growing gynecological disorders & fertility disorders, increasing focus of clinical research institutes towards the innovation of in-vitro fertilization technologies, and occurrence of lifestyle disorders (obesity & smoking that favor infertility) are further propelling the growth of the global in-vitro fertilization market. However, requirement of high capital & time for the running of in-vitro fertilization procedures, difficulties to maintain the in-vitro fertilization procedures, chances of occurrence multiple pregnancies, presence of ethical issues pertaining to selection of gender population, and unawareness of infertility issues in certain under-developed economies are restraining the growth of the global in-vitro fertilization market.
In-vitro Fertilization Market Forecast Report (2018-2023):
In-Vitro Fertilization Market is expected to reach USD 5.06 billion by 2023 from USD 2.37 billion in 2018, growing at a CAGR of 16.4% during the forecast period 2018-2023.
In-vitro Fertilization Market Segmentation:
Global in-vitro fertilization market is segmented based on reagents & media, instruments, technology, and end users. Based on reagents & media, the market is further sub-segmented as embryo culture media, cryopreservation media, sperm processing media, and ovum processing media. Of these, cryopreservation media accounted for the largest share of the global in-vitro fertilization market by reagents & media in 2018. Based on instruments, the market is segmented as imaging systems, sperm separation systems, ovum aspiration pumps, incubators, micromanipulator systems, cryosystems, and other instruments (gas analyzers, laser systems, accessories). Of these, imaging systems commanded the largest share of the global in-vitro fertilization market by instruments in 2018, whereas, sperm separation systems segment is expected to grow at the highest CAGR during the forecast period 2018-2023 .
Based on technology, the market is segmented as intra-cytoplasmic sperm injection, pre-implantation genetic diagnosis, frozen embryo transfer/replacement, and other technologies. Among these, intra-cytoplasmic sperm injection segment accounted for the largest share of the global in-vitro fertilization market by technology in 2018. Based on end users, the market is segmented as fertility & surgical centers, hospitals & research laboratories, and cryobanks. Of these, fertility & surgical centers segment commanded the largest share of the global in-vitro fertilization market by end users in 2018.
On the basis of the geographical region, the global in-vitro fertilization market is segmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Europe commanded the highest share of 37.0% of the global in-vitro fertilization market in 2018, whereas Asia-Pacific is estimated to grow at the highest CAGR of 18.40% during the forecast period 2018-2023.
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Key Developments in the Market:
- February 2018: In-vitro fertilization-focused machine learning company Univfy has raised USD 6 million in Series funding. Univfy developed machine learning technology which aims to reduce the financial burden on those affected by infertility.
The key players in the global in-vitro fertilization market such as,
- CooperSurgical, Inc. (U.S.),
- Vitrolife AB (Sweden), Cook Medical, Inc. (U.S.),
- Irvine Scientific (U.S.),
- Thermo Fisher Scientific, Inc. (U.S.),
- EMD Serono, Inc. (U.S.),
- Genea Limited (Australia),
- ESCO Micro Pte. Limited (Singapore),
- IVFtech ApS (Denmark),
- The Baker Company, Inc. (U.S.).
Reasons to Purchase In-vitro Fertilization Market Report:
- Current and future global in-vitro fertilization market outlook, in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months of analyst support, along with the Market Estimate sheet (in excel)
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