Research Nester released a report titled “In Vitro Fertilization Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global in vitro fertilization market in terms of market segmentation by product, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The in vitro fertilization market is anticipated to record a CAGR of around 10.3% over the forecast period, i.e., 2019-2027. The market is segmented by product, by end user and by region, out of which, the product segment is further divided into culture media, incubators, cryosystem, IVF cabinets and others. Based on product, the culture media segment is estimated to hold a substantial share in the market on account of increasing research and development activities by government as well as private institutes. Further, the end user segment is divided into hospitals, fertility clinics and others, out of which the fertility clinics segment is estimated to observe the highest growth over the forecast period. According to the Human Fertilisation and Embryology Authority, more than 1,100,000 IVF treatment cycles have taken place in UK licensed clinics between 1991 and 2016. Therefore, the growth can be attributed to the presence of a large number of fertility clinics.
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The market for in vitro fertilization in Europe is anticipated to observe the highest growth rate during the forecast period as a result of rising demand for IVF treatments in the region. The advances in technology which leads to the development of new and improved IVF treatments and other assisted reproductive technology is another significant factor estimated to be responsible for the market growth. The market in Asia Pacific is estimated to grow at the highest rate during the forecast period on account of rising awareness among people about the availability and convenience of various IVF treatments.
Growing Infertility Rates to Drive the Market Growth
According to the Centers for Disease Control and Prevention, PCOS affects around 6% to 12% of women, i.e., about 5 million women in the United States every year.
The growing awareness among people about IVF procedure for treating cases of infertility is anticipated to become a key factor for the market growth in the upcoming years. Infertility is increasingly being caused by hormone-affecting health conditions such as Polycystic Ovary Syndrome or PCOS, which further raises the demand for in vitro fertilization. However, the high cost of this treatment and the health risks and complications associated with it are predicted to restrict the market growth.
This report also provides the existing competitive scenario of some of the key players of the global in vitro fertilization market which includes company profiling of CARE Fertility, Vitrolife, LG Chem, Hunter Scientific Limited, Illumina, Inc., Genea Biomedx, LabIVF Asia Pte Ltd., IVF Store, Swerea AB and INVO Bioscience. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global in vitro fertilization market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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