Global In Vitro Fertilization Market Report and Forecast 2023-2028

Global In Vitro Fertilization Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global in vitro Fertilization market reached a value of approximately USD 19.78 billion in 2022. Aided by the rising infertility rates worldwide and the growing acceptance of assisted reproductive technologies, the market is projected to further grow at a CAGR of 7.09% between 2023 and 2028 to reach a value of USD 29.93 billion by 2028.

In Vitro Fertilization is a type of assisted reproductive technology that involves retrieving eggs from a woman's ovaries and fertilising them with sperm in a laboratory setting. The resulting embryos are then transferred back into the woman's uterus. This technology has become increasingly important for couples struggling with infertility, a problem that has been on the rise due to various factors such as delayed marriages, environmental factors, and lifestyle-related issues.

The increase in infertility rates is one of the primary drivers of the in vitro Fertilization market growth. As per reports from the World Health Organisation, approximately 10% of women worldwide are struggling with infertility, leading to an increased demand for effective fertility treatments, including IVF.

Moreover, advancements in technology have played a significant role in the market's growth. The introduction of techniques such as Intracytoplasmic Sperm Injection (ICSI), Preimplantation Genetic Diagnosis (PGD), and frozen embryo transfer have improved the success rates of IVF, encouraging more couples to opt for this treatment.

Additionally, societal changes have also contributed to the in vitro Fertilization market development. The stigma around infertility and assisted reproductive technologies is slowly fading, with more people openly discussing their struggles with infertility and seeking treatment. The legalisation of same-sex marriages in many countries has also given rise to a new demographic requiring assisted reproductive technologies, further boosting the market.

The in vitro Fertilization market demand is also benefitting from the increase in fertility tourism. High costs of IVF treatment in developed countries have led many couples to seek more affordable options in other countries. Countries such as Spain, Cyprus, and the Czech Republic have emerged as popular destinations for fertility tourism, offering high-quality treatment at a fraction of the cost. Also, government initiatives to provide financial aid for IVF treatments, technological advancements improving the success rates of IVF, and growing awareness about infertility and its treatments are expected to propel the in vitro Fertilization market forward.

Market Segmentation

The market can be divided based on type, cycle, instrument, end-user, and region.

Market Breakup by Type

• Conventional IVF
• IVF with ICSI
• IVF with Donor Eggs
• Others

Market Breakup by Cycle

• Fresh Non-Donor IVF Cycles
• Frozen Non-Donor IVF Cycles
• Frozen Donor IVF Cycles
• Fresh Donor IVF Cycles

Market Breakup by Instrument

• Disposable Devices
• Culture Media
• Capital Equipment

Market Breakup by End-User

• Fertility Clinics
• Hospitals and Surgical Centres
• Research Institutes
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global in vitro Fertilization companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Boston IVF
• Monash IVF
• Pelargos IVF
• Ovation Fertility
• RSMC
• Bloom IVF Centre
• Pacific Fertility Center
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.