In Vitro Fertilization Market

Report Overview

The global in vitro fertilization market was pegged at US$ 696.1 million in 2020 and is expected to witness a CAGR of 10.6% during the forecast period.

Market Fundamentals

In vitro fertilization (IVF) is a type of assistive reproductive technology (ART). It is a type of medical technology that is used to help with fertility and assist with the conception of a child. The procedure involves retrieving eggs from women's ovaries and fertilizing those using sperm. It can be done using non-donor or donor eggs and sperm. The success rates of in vitro fertilization vary.

IVF is an expensive treatment, thus most people don't choose this as their first choice for infertility treatment. There are five basic steps of in vitro fertilization, namely, stimulation, egg retrieval, insemination & fertilization, embryo culture, and embryo transfer. In cases where more than one embryo is transferred into the uterus, the IVF can result in multiple pregnancies.

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Market Dynamics

The global in-vitro fertilization market is mainly driven by the increasing rate of infertility and rising consumption of alcohol and cigarettes. Moreover, rising awareness about the availability of treatment for infertility and the increasing success rate of IVF is also playing a pivotal role in boosting the growth of the in vitro fertilization market. However, the high cost of in vitro fertilization procedures and lack of reimbursement policies in several countries are likely to hinder the market growth to a certain extent.

Market Ecosystem

The global in-vitro fertilization market has been analyzed from four perspectives: Products & Services, Type of Cycle, End User, and Region.

In-vitro Fertilization Market by Products & Services

Based on products and services, the in vitro fertilization market has been segmented into instruments, reagents, accessories, and services. The instruments segment is further sub-segmented into imaging systems, cabinets, incubators, cryosystems, vitrification instruments, ovum aspiration pumps, sperm separation systems, micromanipulator systems, anti-vibration tables, and other instruments. The reagents segment is further bifurcated into embryo culture media, sperm processing media, ovum processing media, and cryopreservation media. Reagents accounted for the largest share of the in vitro fertilization market in 2020. The increasing number of IVF procedures have led to increasing usage of reagents and in turn, contributing to the growth of the segment. Moreover, the rising success rate of in vitro fertilization is also contributing to segmental growth.

In-vitro Fertilization Market by Type of Cycle

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Based on the type of cycle, the in vitro fertilization market is segmented into fresh donor IVF cycles, fresh non-donor IVF cycles, frozen donor IVF cycles, and frozen non-donor IVF cycles. The frozen donor IVF cycle segment held the largest share of the market in 2020, owing to the high success rate of the cycle in the first attempt.

In-vitro Fertilization Market by End User

Based on end-user, the in vitro fertilization market has been segmented into fertility clinics and hospitals & research laboratories. The fertility clinics segment held the largest market share and is also anticipated to grow at a higher CAGR during the forecast period. The increasing number of fertility clinics is one of the major factors boosting the growth of this segment.

In-vitro Fertilization Market by Region

Regionally, the global in-vitro fertilization market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest market share of the global in-vitro fertilization market.  A relatively greater number of fertility centers, rising prevalence of infertility, and relatively greater population opting for in vitro fertilization methods are some of the factors attributing to the growth of the IVF market in this region. According to the Center for Disease Control and Prevention, around 12% of women aged 15 to 44 years in the U.S. have difficulty carrying a pregnancy to term, regardless of marital status (impaired fecundity). This in turn has led to the increasing number of IVF procedures that are driving the market growth.

Competitive Landscape

Some of the prominent players operating in the global in-vitro fertilization market include:-

• Cooper Surgical Fertility & Genomic Solutions (The Cooper Companies)
• Cook
• Vitrolife
• Fujifilm Irvine Scientific
• Merck KGaA
• IVFtech ApS
• Limited
• Rocket Medical plc
• Thermo Fisher Scientific, Inc
• Esco Medical, among others

Strategic Developments

• In August 2020, We Doctor, Genea's strategic partner launched a multi-million-dollar subsidy initiative that aims to help infertile patients in China.
• In November 2019, Mojo, a fertility tech company received US$ 1.8 million (€1.7 million) seed round of funding led by Nordic seed fund Inventure.

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