In vitro fertilization (IVF) is the process of artificial fertilization which happens outside the women’s body. The egg of the women is surgical removed and are fertilized by a sperm in a laboratory. In vitro fertilization is mainly used by women having a problem in conceiving.
However, IVF does not always result in pregnancy and success rate varies from individual to individual. IVF procedures have emerged as a preferable choice for the fertility treatments in clinical industry. The market is poised to witness a remarkable growth, primarily due to the related technological advancements such as pre-implantation genetic diagnosis (PGD) and three-parent IVF procedures.
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The global IVF market generated a revenue of $9,876 million in 2021 and is expected to reach $19.676 million by 2026, at a CAGR of 10.5% during the analysis period, 2021-2026.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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The growth of the market is attributed to the reduced conceiving rates, delayed pregnancy, changing lifestyle conditions and fertility disorders are the major factors that drive the market growth. Other factors such as favourable reimbursement scenario and delayed parenthood opted by couples due to professional and financial constraints will also help in the growth of the market. On the other hand, barriers such as ethical concerns in particular countries with respect to IVF, high cost of the IVF procedures followed by low awareness, especially in under-developed economies such as Nigeria are likely to restrain the market growth.
Rising initiatives towards commercialization of cost-efficient treatments and emerging medical tourism, mainly in developing nations would offer lucrative growth opportunities for IVF service providers in future. Further, the growing clinical research initiatives for the development of novel IVF technologies would provide a platform for growth of the global IVF market.
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The world IVF market is segmented on the basis of cycle type, end users and geography. Based on cycle types, the market is segmented into fresh cycle (non-donor), thawed IVF cycle (non-donor) and donor egg IVF cycles. Fresh cycle (non-donor) is both the highest revenue generating segment as well as the highest growing segment as it is the most commonly adopted method in a IVF process due to high success rate. Similarly, by end users, the market is further segmented into fertility clinics, hospitals, surgical centers and clinical research institutes. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific (APAC) and Latin America, Middle East and Africa (LAMEA).
KEY BENEFITS FOR STAKEHOLDERS:
The report provides an in-depth analysis of the IVF market across major countries with a cross sectional analysis of the number of IVF cycles performed, and total revenue generated during the forecast period
The report helps in understanding the strategies adopted by various IVF clinics and hospitals, in order to gain a higher market share in the global IVF market
Region-wise and country-wise share in the global IVF market is comprehensively analyzed in the report
The projections in the report are made by analyzing the current market trends and highlighting the market potential for the period of 2017-2023, in terms of value and volume
The study provides an in-depth analysis of the world IVF Services market with current trends and future estimations to elucidate the imminent investment pockets.
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KEY MARKET SEGMENTS:
Market by End Users
Clinical research institutes
Market, By Geography
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
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