In Vitro Fertilization Market to Hit US$ 40.6 Bn in 2032 | Grow CAGR by 7.8% (Y-O-Y)
Global In Vitro Fertilization Market Predicted to Soar to USD 40.6 Billion by 2032, Dominance of IVF with ICSI, Equipment Segment and Fresh Cycles Leading Growth; North America Leads while Asia-Pacific to Witness Substantial Growth
New York, May 22, 2023 (GLOBE NEWSWIRE) — According to Market.us, The global In Vitro Fertilization Market size is expected to be worth around USD 40.6 Billion by 2032 from USD 19.5 Billion in 2022, growing at a CAGR of 7.8% during the forecast period from 2022 to 2032. In Vitro Fertilization, the egg is removed from the woman’s ovary and combined with the sperm to form the embryos. The whole process was done outside the body. In the laboratory, the embryos are grown for several days and placed inside the woman’s uterus or frozen (cryopreserved) for future use.
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Key Takeaway:
- By Type, the IVF with ICSI segment generated the largest revenue share in 2022.
- By Product, the equipment segment has dominated the market, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
- By Cycle Type, Fresh IVF cycles (Non-Donor) have most of the share.
- By End-User, the fertility clinics segment held the largest share of the market.
- In 2022, North America dominated the market with the highest revenue share of 43%.
- Asia-Pacific will grow at a significant revenue share of 21.6% from 2023-2032.
The growing cases of male and female infertility are the major factor responsible for the market’s growth. Infertility is the primary health concern faced by individuals across the globe. Moreover, now a day, women are freezing their eggs to have a child when they are ready. The increasing dependence on this fertility treatment will propel the market’s growth during the forecast period.
Factors affecting the growth of in vitro fertilization market
There are several factors that can affect the growth of the global in vitro fertilization market. Some of these factors include:
- Delay in Pregnancies is Increasing Demand for IVF Treatment: The global adoption rate of IVF treatment is increasing because of the rising trend toward delaying pregnancy.
- Expanding Medical Tourism in Developed Countries: People’s attention is shifting towards advanced healthcare facilities in developed economies. This leads to an increase in medical tourism. Thus, it surges the market growth.
- The Adoption of in Vitro Fertilization: Adopting in vitro fertilization (IVF) is anticipated to rise during the forecast period due to the growing popularity of IVF and ICSI treatments.
- The Rising Prevalence of Infertility: The cases of infertility were increasing due to late family planning, late marriages, financial instability, and other factors. This boosts the growth of the market.
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Top Trends in the Global In Vitro Fertilization Market
The chances of fertilization were significantly improved because of advanced technologies such as testicular sperm extraction, sperm/eff freezing, and others. This was estimated to fuel the market growth during the forecast period. Additionally, the increasing trend toward medical tourism will boost market expansion.
Market Growth
The market’s growth is driven by numerous factors, such as increasing consumption of alcohol, declining fertility rates, and increasing obesity. Furthermore, increasing awareness regarding infertility coupled with the advanced treatment options availability is estimated to boost the market growth during the forecast period. All the above-mentioned factors were expected to propel global in vitro fertilization market growth.
Regional Analysis
North American market dominated the market with the highest revenue share of 43% because of the presence of various prominent players, IVF treatment procedures have regulatory reforms, the increasing prevalence of associated conditions such as standardization of procedures, a constant rise in the incidence of infertility in both sexes, polycystic ovary syndrome (PCOS), and government funding for sperm and egg storage.
Asia Pacific is likely to experience a higher CAGR during the forecast period due to the rise in medical tourism in this region and the rising awareness of infertility. Moreover, due to the increase in IVF treatment adoption, the region has seen an increase in registered fertility clinics which is anticipated market growth during the forecast period. Also, Latin America, the Middle East & Africa are expected to hold substantial IVF market shares because of their growing healthcare infrastructure. This will increase medical tourism for infertility treatment in these regions.
Competitive Landscape
Market players use key strategies, including mergers, commercialization, geographic expansions, product innovations, etc. For instance, Vitrolife and Prime Tech signed a collaboration agreement to market. They designed the Piezo technique for a more effective Intracytoplasmic Sperm Injection (ICSI) procedure for human IVF globally, except for Thailand, Japan, and Malaysia.
Market Key Players:
- OvaScience
- FUJIFILM Irvine Scientific
- EMD Serono, Inc.
- CooperSurgical, Inc.
- Genea Biomedx
- Thermo Fisher Scientific Inc.
- Progyny, Inc.
- Boston IVF
- Other Key Players
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 19.5 Billion |
| Market Size in 2032 | USD 40.6 Billion |
| CAGR (2023 to 2032) | 7.8% |
| North America Revenue Share | 43% |
| Asia Pacific Revenue Share | 21.6% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Couples prioritize their careers over family planning, and late marriages, financial instability, and other factors are the major causes of delay in pregnancy. Hence, the global adoption rate of IVF treatment is increasing because of the growing trend toward delaying pregnancy. This results in infertility. Several studies have suggested that delayed pregnancies among women are chiefly responsible for the global decline in fertility, which was predicted to be 2.5%.
Market Restraints
The possibilities of multiple births increase if more than one embryo is transferred to your uterus during IVF. A pregnancy with multiple fetuses carries a higher risk of early labor and low birth weight as compared to a pregnancy with just one fetus. Furthermore, according to research, IVF slightly raises the possibility that the child will be born prematurely or with a low birth weight. Also, factors such as egg-retrieval procedure complications, social stigma, birth defects, ethical and legal issues, etc., hampered the market’s growth.
Market Opportunities
There are numerous reasons why the medical tourism industry in emerging countries is developing. Brazil has more than 20 medical facilities and 150 centers that provide treatment for infertility. Compared to Brazil, where an IVF cycle can be completed for USD 4,000, the average cost in the United States is about USD 12,000. India is one of the most affordable places in the world to get in vitro fertilization (IVF) and other treatments for infertility because there are over 500 individual IVF centers. Healthcare costs in India are up to 90% lower than in the United States. The typical IVF cycle in the United States costs around $12,000; in India, it can be completed for between $2,000 and $3,000.
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Report Segmentation of the In Vitro Fertilization Market
Type Insight
The IVF with ICSI segment held most of the share due to the rising number of IVF-ICSI procedures worldwide. The market growth is estimated to be boosted during the forecast period by introducing advanced technologies like ICSI and the increasing number of male infertility cases. Similarly, the conventional IVF market is estimated to develop significantly during the forecast period. Thus, numerous infertile couples choose standard IVF treatment because it has a lower risk than ICSI.
Product Insight
The equipment industry is expected to experience the highest growth rate during the forecast period due to the increasing number of IVF procedures and established manufacturers’ introduction of advanced IVF equipment.
Cycle Type Insight
The fresh non-donor segment is expected to develop at a high CAGR over the forecast period because of the huge success rate of IVF procedures with fresh eggs or embryos and the increasing prevalence of infertility. For instance, according to a study published in the Oxford Journal, if the egg used in the process had never been frozen, an estimated 19.0% of all fertility treatments performed in the United Kingdom would likely result in a live birth.
End-User Insight
The fertility clinics segment accounted for most of the market share of 79.0%. The segment will likely experience the highest CAGR during the forecast period. The number of fertility clinics and ART centers is growing as the demand for ART treatments rises. It is projected that fertility clinics’ growth will accelerate cost-effectiveness, availability of specialists, and low or no risks of hospital-acquired infections (HAIs).
By Type
- Conventional IVF
- IVF with ICSI
- IVF with Donar Eggs
- Other Types
By Product
- Equipment
- Sperm Analyzer Systems
- Imaging Systems
- Ovum Aspiration Pumps
- Micromanipulator Systems
- Other Equipment
- Reagents & Media
- Cryopreservation Media
- Embryo Culture Media
- Ovum Processing Media
- Sperm Processing Media
- Other Reagents & Media
By Cycle Type
- Donor Egg IVF Cycles
- Thawed IVF Cycles (Non-Donor)
- Fresh IVF Cycles (Non-Donor)
By End-User
- Surgical Centers
- Fertility Clinics
- Hospitals
- Research Institutes
- Other End-Users
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
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Recent Development of the In Vitro Fertilization Market
- In June 2022- Oma Fertility developed from stealth and launched a first-of-its-kind network of fertility clinics, providing families with AI-informed, cutting-edge fertility treatments and establishing a new benchmark for IVF success rates.
- In January 2022- One of the most reputable fertility clinics in the world, Boston IVF, entered into a partnership with the Delaware Institute for Reproductive Medicine (DIRM). Through cutting-edge procedures like preimplantation genetic testing, In Vitro fertilization (IVF), and other treatments for male infertility, the exclusive partnership aims to provide locally world-class fertility care and treatments.
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