The Global In-Vitro Fertilization Market is growing pervasively, mainly due to the presence of proper regulatory frameworks that have helped assisted reproduction technologies such as IVF to gain quick acceptance in developed as well as developing regions, globally. The IVF technologies have garnered tremendous popularity and, are perceiving an upsurge demand, worldwide. As a result, over past decade, its market is garnering more attention on the global platform.
Acknowledging the phenomenal growth prospect, the market is demonstrating currently; Market Research Future (MRFR), in its recently published analysis confirms that the global in-vitro fertilization market is set to witness a sound growth by 2023, registering a whopping CAGR throughout the forecast period (2015 – 2023).
Additional factors positively impacting market growth include the growing prevalence of infertility and gynecological disorders that are increasing every year. Moreover, factors such as increasing need of fertilization procedures predominantly led by the heady lifestyles, hectic schedule, stress, and tension coupled with the other reasons deteriorating health and growing issue of infertility are accelerating the growth of the IVF market.
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In Vitro Fertilization Market – Competitive Analysis
Highly competitive, the IVF market appears to be hugely fragmented with the presence of several large and small players. The key strategies traced from the analysis of recent developments of the key players include agreement & partnership, product launch, 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 technology portfolios, differentiation, quality, and pricing.
Key players operating in the IVF devices 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.
Major Players:
Key players leading the global in-vitro fertilization market include Cook Medical, Cooper Surgical Fertility, Oxford Gene Technology, INVO Bioscience, Merck KGaA, Thermo Fisher Scientific, Irvine Scientific, Genea Limited, Vitrolife, and Genea Biomedix.
Industry/Innovation/Related News:
March 04, 2019 – Lee Women’s Hospital (Taiwan), a prestigious reproductive medical center, introduced its latest in vitro fertilization (IVF) technology, that is known to increase the pregnancy success rate of infertile patients.
Formally called 3.5 Generation AI, the IVF Protocol is the latest technology combining the PGS (preimplantation genetic screening) procedure with a time-lapse machine to assure up to 80 % chance of successful pregnancy.
March 04, 2019 – Avery ChenJinxin Fertility (China), a leading provider of assisted reproductive services (ARS) across China, and the United States announced that it has applied to an initial public offering in Hong Kong, aiming to raise funding up to USD 600 MN soon. In 2017, the company had ranked third in China’s ARS market, in terms of in-vitro fertilization, IVF treatment cycles conducted, and revenue generated from ARS.
In Vitro Fertilization Market – Segments
The report has been segmented into four key dynamics for enhanced understanding;
By Type: Intrauterine Insemination, Intracytoplasmic Sperm Injection, IVF Using Donor Eggs, and others.
By Product: Devices (Imaging Systems, Sperm Separation System, Ovum Aspiration Pump, Micromanipulator, Cryosystem, and others.), Reagents (Embryo Culture Media, Cryopreservation Media, Sperm Processing Media, Ovum Processing Media, and others.)
By End-users: Clinical Research Institutes, Fertility Clinics, Hospitals, and others.
By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.
In Vitro Fertilization Market – Regional Analysis
North America and the European region that have comparatively a lower birth-rate are leading the global in-vitro fertilization market. Moreover, various socioeconomic factors such as the financial support from the government for R&D in the field of IVF and R&D funding from private organizations to develop new technologies are predominantly increasing the size of the IVF market in these regions.
Countries such as the UK, Germany, the U.S., and Canada play an important role in the growth of this market. North America holds about 45% of the market share in the global IVF market, whereas, Europe is expected to show high growth by the end of the forecast period, accounting for the second-largest market, globally.
The IVF market in the Asia Pacific region is multiplying mainly due to the vast technological advancements. Rapid socio-ecological factors such as the rapid ecological changes, the increasing number of working women populaces, and the rapidly improving economy are positively impacting the growth of the regional market.
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