(PharmaNewsWire.Com, March 25, 2021 ) MarketsandMarkets forecasts the In Vitro Fertilization market to grow from USD 465.2 million in 2016 to 847.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period.
Factors Driving the Market Growth:
The major factors that are expected to be driving the IVF market are growth of this market include growth in the median age of first-time motherhood, declining fertility rates, rising male infertility, rise in consumption of alcohol and cigarettes, and growing public awareness about infertility and the available treatment options.
Reagents to account for the largest product segment in the IVF market in 2017
The product segment is classified into reagents and equipment. Reagents are further classified into cryopreservation media, semen processing media, ovum processing media, and embryo culture media. Embryo culture media is expected to hold the largest share of the IVF reagents market in 2017. This segment is also expected to grow at the highest rate during the forecast period owing to the increase in awareness of infertility treatments and diagnosis. Moreover, this media is used in IVF procedures to improve the quality of embryos during the developing phase.
Fertility clinics and surgical centers to dominate the IVF market during the forecast period
By end user, the in vitro fertilization market is segmented into fertility clinics and surgical centers, hospitals and research laboratories, and cryobanks. Fertility clinics and surgical centers are estimated to account for the largest share of the global IVF market. The increasing number of fertility centers coupled with the growing infertility rates across the globe are the key factors driving the growth of this segment.
The fresh non-donor cycle to hold the largest market share in 2017
On the basis of types of cycles, the IVF market is classified into fresh non-donor, frozen non-donor, fresh donor, and frozen donor cycles. The fresh non-donor cycle is estimated to account for the largest market share of the market in 2017. Factors such as high success rates, ease in the implantation process, and enhanced embryo production are responsible for the large share of this segment.
Asia Pacific is expected to dominate the global in vitro fertilization market in 2017. The large share and high growth rate of the APAC region can be attributed growth in the median age of first-time motherhood, rising infertility rates, growing prevalence of PCOS, increasing incidence of obesity, rise in fertility tourism, and government initiatives.
Leading Players Driving the Market:
CooperSurgical (US), Vitrolife (Sweden), Cook Medical (US), Irvine Scientific (US), and Thermo Fisher Scientific (US) are the major players in the in vitro fertilization market. Other players include Esco Micro (Singapore), IVFtech (Denmark), EMD Sereno (US), Genea Limited (Australia), Rocket Medical (UK), and Nidacon International (Sweden).
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