In Vitro Fertilization (IVF) Market is Expected to Grow at
Farmington, Jan. 23, 2023 (GLOBE NEWSWIRE) — The global In Vitro Fertilization (IVF) Market was valued at USD 15.72 Billion in 2022 and is projected to reach USD 33 Billion by 2030, growing at a CAGR of 8.6% from 2023 to 2030. In vitro fertilization (IVF) is one of the most prevalent forms of assisted reproductive technology (ART), and it is accomplished with the use of both medicine and surgery. IVF aids in the development and implantation of an embryo in a couple that cannot conceive naturally. IVF is the procedure of creating a baby by removing an egg, obtaining a sample of sperm, and then manually combining the egg and sperm in a laboratory. Approximately half a million babies are born each year utilizing IVF or other forms of assisted reproduction as a result of the increasing usage of IVF. As IVF and ICSI become increasingly popular, more people will likely use in vitro fertilization (IVF) procedures during the projection period.
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In Vitro Fertilization (IVF) Market Recent Developments:
- In 2021, Hamilton Thorne Ltd. received FDA approval for commercialization of GYNEMED GM501, a ready-to-use medium designed for in vitro washing and handling procedures of human oocytes and embryos in the United States and Europe.
- In 2021, CooperSurgical announced a partnership with Virtus Health to strengthen infertility technology and increase access to advanced treatments for infertile couples.
- In 2020, FUJIFILM Irvine Scientific announced the release of Vit Kit-NX, a vitrification media solution.
In Vitro Fertilization (IVF) Market Segmentation Analysis:
In terms of revenue, the fresh non-donor segment dominated the market in 2021, comprising 49% of the market. This is because the chances of success are great, the birth rate is higher than with frozen embryos, implantation is simple, and the results are superior with a fresh embryo transfer. More people are adopting the fresh non-donor cycle, and the number of infertile persons worldwide is increasing. This cycle is anticipated to stay the most popular over the next few years due to its increasing popularity.
In 2021, fertility clinics accounted for 80% of the end-user revenue share. When a couple is experiencing difficulty conceiving, they typically seek help at a fertility clinic. Fertility clinics are specialized clinics that assist couples and single individuals who are having difficulty conceiving or achieving pregnancy. The global market for fertility clinics is expanding since there are more of them, more people are aware of them, and birth rates are down.
Europe contributed more than 38% of the in vitro fertilization market’s revenue in 2021. Thus, Europe became the market leader. In the next years, the regional market will expand due to factors such as the development of medical tourism and the modification of laws regarding IVF treatments. People from the United States are increasingly traveling to the Czech Republic for cheaper IVF treatments. As of January 2017, according to an ESHRE fact sheet, nearly all EU member states offer some form of ART compensation. (except Lithuania and Ireland) From 2022 to 2030, Asia-Pacific is anticipated to experience the highest IVF market growth.
In the Asia-Pacific area, there will be a significant increase in the demand for in vitro fertilization (IVF) treatments due to fertility tourism, increased foreign investment in economically developing nations, and changing policies. Infertility has become more prevalent due to changes in lifestyles, such as more people being overweight and stressed, not getting enough exercise, eating poorly, not receiving enough nourishment, and residing in more polluted areas, as well as due to an increase in health issues such as diabetes.
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Scope of Report:
|Growth Rate||8.6% from 2023 to 2030|
|Market Size in 2022||USD 508.82 Million|
|Revenue Forecast by 2030||USD 1,305.3 Million|
|By Type||Intrauterine Insemination,, Intracytoplasmic Sperm Injection,, IVF Using Donor Eggs|
|By Devices||Imaging Systems, Sperm Separation System, Ovum Aspiration Pump, Micromanipulator, Cryosystem|
|By Reagents||Embryo Culture Media,, Cryopreservation Media, Sperm Processing Media, Ovum Processing Media|
|By End User||Fertility Clinics, Hospitals, Clinical Research Centers|
|By Companies||Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher ScientificInc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker CompanyInc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), Gynotec B.V. (Netherlands), and Others|
|Historical Year||2017 to 2021|
|Forecast Year||2023 to 2030|
Globally, the average age of women giving birth for the first time has increased significantly over time. This development is primarily attributable to improved birth control methods, women marrying later, and more women prioritizing their professions over establishing a family. The average age of Australian first-time moms increased from 27.9 in 2009 to 31.9 in 2019. The Australian Institute of Health and Welfare released these findings in 2021. As the average age of first-time mothers rises, an increasing number of women will undoubtedly experience difficulty conceiving on their own. In this situation, more and more women are compelled to undergo IVF treatments. In the next years, this is projected to increase the IVF market.
More than 2.5 million IVF (in vitro fertilization) rounds are performed annually on a global scale. The cost of IVF therapy varies from nation to nation due to the absence of reimbursement policies. This market isn’t expanding as quickly as it could because some locations lack insurance and don’t have reliable claim-paying mechanisms.
The medical tourism industry in developing nations is thriving due to a number of factors. Brazil has about twenty medical centers and over one hundred fifty centers that treat infertility [Source: Fertility Treatment Abroad]. A normal IVF cycle in the United States costs roughly $12,000, however, the same procedure can be performed in Brazil for only $4,000. India is one of the cheapest countries for in vitro fertilization (IVF) and other infertility treatments.
In Vitro Fertilization (IVF) Market Key Segments Covered:
Top Market Players:
Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher ScientificInc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker CompanyInc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), Gynotec B.V. (Netherlands), and Others.
- Intrauterine Insemination,
- Intracytoplasmic Sperm Injection,
- IVF Using Donor Eggs
- Imaging Systems
- Sperm Separation System
- Ovum Aspiration Pump
- Embryo Culture Media,
- Cryopreservation Media
- Sperm Processing Media
- Ovum Processing Media
- Fertility Clinics
- Clinical Research Centers
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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