In Vitro Fertilization Market Projected to Reach US$ 1,940.8 Million Valuation by 2034: Future Market Insights, Inc.
Cell-culture Dish to Parenthood: In Vitro Fertilization Market Escalates as Couples Look for a Substitute Avenue to Parenting. The IVF market growth is driven by an increasing infertility rates, advancements in IVF techniques, continuous improvements in IVF success rates, and increasing demand for preimplantation genetic testing.
NEWARK, Del., April 30, 2024 /PRNewswire/ -- The in vitro fertilization market is on its way to perceive a surge in valuation, from US$ 1.50 billion in 2024 up to US$ 4.80 billion by 2034. FMI report indicates a healthy CAGR of 12.30% between 2024 and 2034, reckoning an influential IVF market growth.
The amplifying consciousness regarding infertility and the accessibility of alternative medications are the determining catalysts obligated to augment the in vitro fertilization market growth. Factors like the attainability of innovative products, boosting male infertility, escalating utilization of cigarettes and alcohol, and elevating government schemes to strengthen IVF treatment reinforce segment growth.
The surge in the middle age of new mothers, diminishing fertility rates, ascending obesity rate, flourishing demand for alcohol, and towering knowledge about treatment options stimulate the in vitro fertilization market growth. Conversely, the impediments like the high cost inhibit the IVF industry growth. The low success percentage of IVF treatment constrains the market expansion.
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The emerging economies' technological breakthroughs and product advancements catalyze lucrative opportunities for IVF. Inversely, the stringent rules and ethical issues, along with diminishing the efficiency of infertility therapy among patients with increasing age, have the prospective to slow down the in vitro fertilization market growth.
Key Takeaways
• The equipment product type category to seize a share of 44.20% in 2024.
• In the cycle category, the fresh non-donor cycle segment to obtain a share of 38.60% in 2024.
• China in vitro fertilization (IVF) market exhibit upsurge at CAGR of 16.80% between 2024 and 2034.
• Spain IVF sales indicate a CAGR of 13.50% through 2034.
• Japan in vitro fertilization market implies expansion at a CAGR of 12.50% through 2034.
• Italy IVF industry imply augmentation at a CAGR of 12.00% between 2024 and 2034.
• From 2024 to 2034, Australia and New Zealand in vitro fertilization industry equates at a CAGR of 12.00%.
• Through 2034, Canada IVF market show escalation at a CAGR of 11.00%.
• France IVF industry indicates a CAGR of 10.80% through 2034.
• Germany in vitro fertilization sector indicates a CAGR of 9.00% through 2034.
• The United Kingdom IVF sector reflects expansion between 2024 and 2034 at a CAGR of 9.80%.
• Through 2034, India in vitro fertilization (IVF) market advances at a CAGR of 9.70%.
• Between 2024 and 2034, the United States in vitro fertilization (IVF) industry imply growth at a CAGR of 8.20%.
"The IVF market persistently demonstrates sturdy growth advanced by ascending infertility rates and innovations in reproductive application. With widening access to IVF facilities, the industry is slated for encouraged growth in the forthcoming years", Opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.
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Regional Outlook
North America is the most significant in the global in vitro fertilization market over the forecast period. Standardization of techniques through policy shifts, automation, government investments for egg or sperm storage, and the emergence of IVF therapies by providers are significant stimuli aiding the market growth in North America.
Europe's in vitro fertilization (IVF) market possesses the second spot in terms of share because of the accessibility of advanced treatment clinics, government support for IVF growth, and skilled medical professionals. The German sector reigned the top spot, and the United Kingdom industry emerged as a swiftly widening sector in the European region.
Asia Pacific has a potential for notable CAGR from 2024 to 2034 and exhibits an attractive potential for future growth of the in vitro fertilization market. This is credited to the populous region, swiftly dropping fertility rates, ascending government plans for women, an inclination towards careers over family, and thriving knowledge of fertility clinics and processes. The heightening recognition in the people of IVF treatments, escalating healthcare costs, and surging usage of modern reproductive procedures in the Asia Pacific are the key catalysts of the IVF sector, igniting enthusiasm regarding the unrecognized potential.
Prominent In Vitro Fertilization Providers
- Vitrolife
- Thermo Fisher Scientific Inc.
- Cook Group
- IVFtech ApS
- Esco Micro
- Genea Limited
- Fujifilm Irvine Scientific
- The Baker Company
- Kitazato Corporation
Competitive Landscape
The industry is merged in nature because of the proximity of numerous in vitro fertilization (IVF) providers functioning globally and locally. The essential IVF vendors are embracing essential strategic initiatives like mergers, acquisitions, collaborations, and product launches to acquire their position in the industry.
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Noteworthy Developments
• Boston IVF, based in the United States, authored a 3 years distribution network solutions contract with Cryoport, Inc. in April 2023 to encourage reproductive product shipment in the United States.
• In May 2023, Merck KGaA, heaquartered in Germany, a chief in medical management and life sciences, launched a pioneering solution, Fertility Counts. This progressive approach is made to address the economic, communal, and social problems linked with low birth rates in the Asia Pacific, instigating hope for a positive future.
• Progyny, Inc., set up in the United States and Quantum Health, Inc. got into a collaboration agreement in June 2023 to roll out Quantum Health's Comprehensive Care Solutions platform for family-making and fertility solutions.
• In June 2023, FUJIFILM Irvine Scientific, Inc., rooted in the United States, made efforts to increase its Presagen's Life Whisperer platform proficiencies to aid with clinical administration in IVF.
Key Segments
By Product:
The market is classified based on equipment, reagents & media, and accessories.
By Cycle:
The segment is categorized based on fresh non-donor cycle, frozen non-donor IVF cycle, frozen donor IVF cycle, and fresh donor IVF cycle.
By End-user:
The report consists of key end-users based on fertility clinics, hospitals & surgical centers, and cryobank & research institutes.
By Type:
The market is classified into conventional IVF, IVF with ICSI, and IVF with donor eggs.
By Region:
Analysis of the in vitro fertilization market has been carried out in key countries of North America, Latin America, Middle East and Africa, Asia Pacific, and Europe.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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