In-Vitro Fertilization Market Size Worth USD 31.97 Billion by 2027

Global In-Vitro Fertilization Market generated a revenue of  USD 15.87 Billion in 2019 estimated to rise USD 31.97 Billion by 2027 at a CAGR of 9.1%, according to a new report by Emergen Research. The growth of the sector is facilitated by rising occurrences of infertility attributable to behavioral improvements, policy measures to have fair insurance schemes, and ongoing efforts by suppliers in the industry. The development of fertility therapies to treat male infertility, such as ICSI, is expected to have a positive impact on market growth. In turn, the provision of genomic testing to deter genetic disorder transfer through in-vitro fertilization (IVF) usage is also projected to push the IVF industry. The increase of IVF treatment has led to more insurance players covering the procedures. It led directly to competitive rates and moderated the costs of IVF treatment, as the process was a successfully mastered technology that has driven the market with more optimization and automation of therapy. The main factor leading to reduced Total Fertility Rate (TFR) is a behavioral change in culture. These factors include a growing number of women in the workforce, higher first-born age, urbanization, lower marriage rates, and changing attitude towards marriage.

Growing consumer understanding of infertility and the development of various therapies are anticipated to fuel business growth. Any other reasons, such as the availability of innovative drugs, decreased male infertility, reduced alcohol & tobacco use, and increased policy efforts to improve IVF care, are projected to further fuel consumer demand.

According to the American Society for Pregnant Medicine (ASRM), approximately 6.7 million people in the U.S. are impacted by the inability to conceive, which accounts for around 11.0% of the reproductive population. Additionally, 25% of couples have more than one factor that can cause infertility. Researchers have also developed methods that are used beforehand to improve the effective rate of in-vitro fertilization. Specific methods such as aided hatching, vitrification, processing of egg/sperm, percutaneous epidydimal sperm accumulation and testicular sperm retrieval (PESA and TESE), mini IVF, tri-parent IVF, and genetic testing are already being utilized. Due to the broad target demographic, low treatment cost than developing countries, and availability of advanced technologies, Asia Pacific held the largest market share with regard to the number of IVF cycles conducted in 2019.

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Further key findings from the report suggest

  • Based on instrument, disposable devices generated a revenue of USD 5.27 billion in 2019 and is estimated to rise with a CAGR of 9.5% in the forecast period. Due to the need for high sterile conditions and strict regulatory requirements, market players are incorporating disposable devices such as needles, slides, and chambers.
  • The fresh non-donor procedure segment is expected to grow with a CAGR of 9.3% in the forecast period owing to the steady success rate in the first attempt.
  • The fertility clinic application is the major contributor to the In-Vitro Fertilization Market. The fertility clinics application of the European region is leading the market segment and held around 64.0% of the market in the year 2019. Owing to the growing demands for ART treatments, there is a significant increase in the number of fertility centers and ART centers, which provide counseling for couples with conceiving problems.
  • Europe dominated the market for In-Vitro Fertilization in 2019 as it became the first to develop the in-vitro fertilization method to delete the controversial title from the cryopreservation of sperm and the first to officially authorize IVF or the mitochondrial fusion strategy of the three parents. The European region held approximately 35.1% of the market, followed by North America, contributing to around 31.0% of the market share in the year 2019.

Key participants 

  • Thermo Fisher Scientific Inc
  • Irvine Scientific
  • OvaScience
  • Cooper Surgical Inc
  • EMD Serono Inc
  • Cook Medical Inc
  • Cardone & Associates Reproductive Medicine & Infertility LLC
  • Morpheus Life Sciences Pvt. Ltd
  • Vitrolife AB
  • Genea Biomedx

About Emergen Research 

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Direct Line: +1 (604) 757-9756

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