December 16, 2021 06:10 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Dec. 16, 2021 (GLOBE NEWSWIRE) — The global IVF Market size is prophesized to reach USD 36.39 billion by 2026, with a CAGR 10.1% by 2026. This is attributable to the increasing cases of infertility among people worldwide. This is more common in males than female partners. The market value was USD 16.89 billion in 2018. IVF is a fertilization process wherein sperm and eggs are retrieved as a sample and are combined manually in laboratories. Various studies show that almost half a million babies are born by this process or other assistant reproductive processes. Such factors are responsible for the in vitro fertilization market growth.
The report also provides detailed segmentation of the market with market figures such as base and forecast figure and the compound annual growth rates (CAGRs) as well. Besides this, the report provides interesting insights into the market, key industry developments, and other IVF market trends. The report is available for sale on the company website.
Significant Industry Developments in In Vitro Fertilization Market:
May 2019 – A new embryo screening test was developed by scientists at Monash IVF for reducing the risk of miscarriage at the time of IVF treatment.
July 2019 – The opening of a new full-service IVF center at the Westshore office at Tampa, Florida, was announced by Shady Grove Fertility. The main objective behind the opening of this center is to offer affordable and high-quality fertility treatment options to the regional people.
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Adoption and Practice of Sedentary Lifestyle to Add Impetus to Market Growth
Nowadays, people are more inclined towards career goals rather than family planning, and therefore often tend to opt for late pregnancies. The increasing number of such cases is a major in vitro fertilizer market driver, as mentioned earlier, since complicated cases are often resolved by opting for IVF treatment. This is more common in nations such as the UK, Japan, and the U.S. Besides this, the rise in the number of male infertility is anticipated to increase the adoption of IVF treatment and thus accelerate the in vitro fertilization market size in the coming years. Besides this, government-supported reimbursement policies and awareness programs are aiding the overall in vitro fertilization market growth of the region.
Analysts at Fortune Business Insights™ said” high expenses and risks related to the in vitro fertilization process (IVF) and Intracytoplasmic sperm injection (ICSI) may cause hindrance to the overall in vitro fertilization market revenue”. Nevertheless, factors such as increasing obesity cases among people, infertility among men, the practice of sedentary lifestyle, and others are likely to create lucrative IVF market growth opportunities in the coming years.
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Companies are Investing in Construction of New Fertility Centers for Revenue Generation
Boston IVF, Pelargos IVF, and Monash IVF are currently dominating the market. In vitro fertilization market manufacturers are developing new centers with efficient and high-quality treatment in remote locations for speeding their own revenue generation and making their mark in the market competition. This will ultimately accelerate the overall IVF market size.
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Europe to Dominate the Market with Maximum Number of Treatment Cases Registered
Europe holds a dominant in vitro fertilization market share with a revenue of USD 7.57 billion generated in the year 2018. This is attributable to the rise in the prevalence of infertility and the increasing popularity of IVF treatment in the region. On the other side, the market in North America will witness steady growth on account of the high cost associated with ICSI and IVF treatment. As per the FertilityIQ data, 2017, in the U.S., the average expenditure of a patient undergoing a single IVF cycle is USD 22,000. Thus, patients in the U.S are travelling to other countries for IVF treatment citing lower costs.
In Vitro Fertilization Market Vendors include:
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