(PharmaNewsWire.Com, July 24, 2021 ) In-vitro Fertilization Market size is estimated to reach $20.7 billion by 2026, growing at a CAGR of 6.5% during the forecast period 2021-2026. In vitro fertilization (IVF) is a type of assistive reproductive technology (ART) that is used to help with fertility and assist with the conception of a child. It gives the opportunity of having a child using their own eggs for women with blocked fallopian tubes. In-vitro fertilization (IVF) and intrauterine insemination (IUI) are two common methods adopted for fertility treatment. Rise in the demand for advanced imaging systems and IVF cabinet, increase in the number of fertility clinics, rise in the government support for fertility treatment, growing favorable policies for infertility treatment, and increase in the median age of first-time motherhood in developed nations are the factors that are set to drive the growth of the In-vitro Fertilization Market for the period 2021-2026.
In-vitro Fertilization Market Segment Analysis-By Type
The In-vitro Fertilization Market based on the Type can be further segmented into Fresh Nondonor, Frozen Nondonor, Fresh Donor, and Frozen Donor. The Fresh Nondonor segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 7.1% over the period 2021-2026. This growth can be attributed to factors such as rise in the success rate of the procedure in the first attempt and increase in the demand for assisted reproductive technologies. The growing number of fresh nondonors banking the eggs or embryos is driving the growth of the In-vitro Fertilization Market. The Frozen Non-donor segment held the second largest share in 2020 owing to its cost-effectiveness and also the drug stimulation process is not required for the recipient and is less invasive. Many favorable policies in developed nations also encouraged people to donate their sperm, which is driving the growth of the In-vitro Fertilization Market.
In-vitro Fertilization Market Segment Analysis-By End User
The In-vitro Fertilization Market based on the End User can be further segmented into Hospitals, Fertility Clinics, Clinical Research Institutes, and Others. The Fertility Clinics segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 7.3% over the period 2021-2026. This growth is owing to the factors such as growing demand for ART treatments and rise in the number of fertility clinics in developed nations. The increase in the investments by the key players is driving the growth of the In-vitro Fertilization Market. The Hospitals segment held the second largest share in 2020 owing to the factors such as low treatment costs and growing adoption of hospital-based environment for the treatment of In-vitro fertilization (IVF) and intrauterine insemination (IUI).
North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as rise in the number of fertility centers and growing favorable policies for infertility treatment. The rise in the demand for advanced imaging systems and IVF cabinet is driving the growth of the In-vitro Fertilization Market. Asia-Pacific is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as increase in the government support for fertility treatment and rise in the adoption of In-vitro fertilization (IVF) and intrauterine insemination (IUI) for fertility treatment.
Rise in the Adoption of In-vitro Fertilization (IVF) for Fertility Treatment in Developed Nations
In-vitro fertilization (IVF) is increasingly being adopted in developed nations for fertility treatment as it gives the opportunity of having a child using their own eggs for women with blocked fallopian tubes. In-vitro fertilization can be used by gestational and surrogate carriers and is not restricted to the mother of the baby. Moreover, advancements in imaging systems and IVF cabinet is further driving the growth of the In-vitro Fertilization Market.
Rise in the Median Age of First-Time Motherhood
There is an increase in the median age of first-time motherhood owing to the factors such as improved contraceptive techniques and the increasing number of women prioritizing careers over starting a family. Moreover, the rate of first-time pregnancies in women under the age of 20 in developed nations has decreased rapidly, which is one of the major factors driving the growth of the In-vitro Fertilization Market.
In-vitro Fertilization Market Challenges
High Cost of IVF Treatment
The cost of IVF treatment varies from country to country owing to the lack of reimbursement policies. The cost of infertility treatments is not covered by the insurance companies. According to the National Infertility Association, fertility treatment is covered by only 25% of insurance plans, and many expenses are not covered for the IVF treatment. Moreover, the high cost of reproductive techniques to treat infertility is one of the major factors that is estimated to reduce the growth of the In-vitro Fertilization Market.
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the In-vitro Fertilization Market. Key companies of this market are Vitrolife AB, EMD Sereno Inc, Merck Group, Cook Medical Inc, Genea Biomedx, CooperSurgical Inc, OvaScience, Inc, FUJIFILM Irvine Scientific, Boston IVF, and Progyny Inc among others.
Acquisitions/Product Launches:
In September 2019, FUJIFILM Irvine Scientific Inc has launched Vit Kit-NX, which is the latest addition to a portfolio of vitrification solutions for in vitro fertilization (IVF) that are designed to vitrify and warm embryos in a consistent and stable environment to achieve high pregnancy rates.
In April 2019, Vitrolife AB has acquired rights to technology using artificial intelligence for assessing embryos during in-vitro fertilization (IVF) using time-lapse videos. This technology predicts the likelihood of an embryo and shortens the time to pregnancy by helping IVF practitioners.
In February 2019, Merck has launched fertility technologies, such as Geri, Gavi, and Gems to be made to IVF clinics and hospitals. These technologies help in reducing external stresses on the embryos of patients undergoing fertility treatment.
Key Takeaways
Geographically, North American In-vitro Fertilization Market accounted for the highest revenue share in 2020 and is poised to dominate over the period 2021-2026 owing to the growing demand for advanced imaging systems and IVF cabinet.
The rise in the success rate of the procedure in the first attempt is driving the Fresh Nondonor segment. However, the high cost of IVF treatment is one of the major factors that is said to reduce the growth of the In-vitro Fertilization Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the In-vitro Fertilization Market report.
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
