In Vitro Fertilization Industry Overview
The global in vitro fertilization market size was valued at USD 21.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.
Rising reprotourism and the increasing cases of male and female infertility are the key factors driving the market growth. Infertility is one of the major health concerns faced by individuals globally. According to WHO, 8%-10% of couples globally suffer from infertility which is around 80 million couples worldwide. According to the American Pregnancy Association, male infertility accounts for 30% of infertility cases and contributes to around one-fifth of infertility cases. The average age of women and men getting married and having their first child is increasing. This trend has increased the number of women seeking the In Vitro Fertilization (IVF) treatment.
Gather more insights about the market drivers, restrains and growth of the Global In Vitro Fertilization Market
Moreover, to focus on their career, many women freeze their eggs to have the child at a later stage. The rising dependence on fertility treatments will support market growth. Availability of funds is leading to a rise in the adoption of IVF procedures. To increase the success rate of IVF, techniques such as Testicular Sperm Extraction (PESA and TESE), are being introduced along with the development of new products. PICSI (Physiological Intra-cytoplasmic Sperm Injection) is one of the techniques of sperm selection and is recommended for couples with a history of miscarriages, low embryo quality, and low fertility. Such technologies help increase the success rate of IVF pregnancies.
To compete in the modern business environment, it is crucial for all the organizations (manufacturers, clinics, and hospitals) to develop their virtual presence to increase awareness about infertility, infertility treatment, and their services. As infertility is a sensitive issue, people are reluctant to discuss it openly, particularly in developing countries. Hence, developing authenticity and trust through digital platforms is a key challenge for service providers. The providers can take an initial step to gain a center’s or manufacturers’ trust by displaying the hospital’s or approval committee’s certificates, introducing the doctors or scientists, and sharing their coordinates to establish and authenticate their identity.
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- Male Infertility Market - The global male infertility market size was valued at USD 3.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. Increasing infertility rates across the globe and the adoption of assisted reproductive technologies (ARTs) are expected to drive the market for male infertility in the forthcoming years.
- Artificial Intelligence Market - The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.
In Vitro Fertilization Market Segmentation
Grand View Research has segmented the global in vitro fertilization market based on instrument, procedure type, end-use, and region:
In Vitro Fertilization Instrument Outlook (Revenue, USD Million, 2017 - 2030)
- Disposable Devices
- Culture Media
- Capital Equipment
In Vitro Fertilization Procedure Type Outlook (Revenue, USD Million, 2017 - 2030)
- Fresh Donor
- Frozen Donor
- Fresh Non-donor
- Frozen Non-donor
In Vitro Fertilization End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Fertility Clinics
- Hospitals & Other Setting
In Vitro Fertilization Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- July 2019: Vitrolife and Prime Tech entered into a collaboration agreement to design and market the Piezo technique for better Intracytoplasmic Sperm Injection (ICSI) procedure in human IVF globally except for Thailand, Japan, and Malaysia.
- June 2018: An Australian scientist developed an Artificial Intelligence (AI) tool called Ivy for the identification of an embryo with the best chance of pregnancy.
- May 2017: CrossBay Medical Inc. received U.S. FDA approval for its CrossBay IVF Embryo Transfer catheter set. The product has also received commercialization approval in Europe and China.
Key Companies profiled:
Some prominent players in the global in vitro fertilization market include
- OvaScience
- EMD Serono Inc.
- Vitrolife AB
- Irvine Scientific
- Cook Medical Inc.
- Cooper Surgical Inc.
- GeneaBiomedx
- Thermo Fisher Scientific Inc.
- Progyny, Inc.
- Boston IVF
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