ALBANY, New York, October 9, 2017 /PRNewswire/ --
In-vitro fertilization (IVF) procedures have risen in popularity as reliable assisted reproductive technology (ART) treatments among infertile couples. The rising prevalence of infertility owing to lifestyle-induced factors, coupled with the preference of couples to delay family planning, has accentuated the demand for IVF in various developing and developed regions. The sustained focus to address the growing concerns of male infertility world over, mainly aggravated by genetic factors, has bolstered the demand for IVF in recent years. The rising awareness of the efficacy and the cost-effectiveness of IVF treatments in several developing nations, combined with the efforts taken by clinicians to improve the outcome per cycle, is a key a factor boosting the demand. The advent of standardized procedures, combined with the adoption of automation, has significantly brought down the cost of reagents and equipment used in IVF procedures. The rising medical tourism in several developing economies such as India, China, and Brazil is expected to attract couples with their cost-effective and quality treatment.
The global in-vitro fertilization market is estimated to rise from US$529.8 Mn in 2017 to US$725.9 Mn by 2022 end. The market is projected to expand at a CAGR of 6.5% during the forecast period of 2017-2022.
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The rising number of couples, men or women, suffering with various anatomic factors such as tubal disease and endometriosis, ovulatory disorders, and unexplained cases of infertility in various parts of the world is a key trend stoking the demand for in-vitro fertilization treatments. The prevalence of infertility can be attributed to an amalgamation of factors such as genetic, lifestyle-induced, and unprotected intercourse.
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The increase in the number of known genetic disorders in developed nations among fertile couples also bodes well for the in-vitro fertilization market. These couples opt for IVF to prevent the transmission of the diseases to their children. The wide availability of genetic tests in numerous advanced nations is anticipated to further boost the detection of these genetic disorders, thereby fueling the demand for IVF procedures. The availability of routine insurance coverage for IVF procedures is gaining traction in several developed and developing countries, which is expected to open up lucrative market avenues. This is also expected to bring down the cost of treatment.
However, the risk of failed IVF cycle is a key factor likely to hinder the market. On the other hand, recent advancement in technologies and the growing expertise of clinicians are factors expected to address this concern. Regionally, Asia Pacific excluding Japan currently leads the global market vis-à-vis revenue and is expected to retain its lead throughout the forecast period. The APEJ in-vitro fertilization market is projected to rise at a CAGR of 6.7% from 2017 to 2022 and reach US$ 235.9 Mn by the end of the forecast period.
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In recent years, there have various market forces instrumental for bringing down the cost of IVF treatment, which also points to the consolidation of the business landscape. Leading players operating in the global in-vitro fertilization market include Thermo Fisher Scientific, Inc., Cook Medical, Merck KGaA, Vitrolife AB, Ovascience, Inc., CooperSurgical, EMD Serono, Inc., Genea Ltd., Rocket Medical PLC, and Fertility Focus Ltd.
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