Recently MarketResearchReports.biz has added a new report to its vast collection of market intelligence publications on the pharmaceutical industry. The report, titled “Global In Vitro Fertilization (IVF) Market Report: 2016 Edition,” encapsulates the key details that are necessary for market players and investors in finding out the next opportunity to grasp.
In vitro fertilization is one of the major medical solutions to infertility. It is a process that involves the fertilization of an egg outside the body. It is regarded a common practice for people who are trying to conceive, but cannot do it through natural means.
The report states that the key reason for the growth of the global in vitro fertilization market is the increasing number of people that are being diagnosed with infertility. The growing infertility rate is a global problem owing to a multitude of reasons such as a stressful lifestyle and late marriages. Economies are gaining industrialization advantages at a rapid rate, causing individuals to focus more on their careers. This in turn, has caused many of them to marry later in life, creating complexities in conception. Age is a critical factor in terms of conception, especially for women.
In terms of lifestyle, the added stress of a career, the increasing prevalence of obesity and diabetes, and the growing consumption rates of toxic substances such as tobacco and alcohol are heavily responsible for the rising rate of infertility worldwide.
Other reasons for the growth of the global in vitro fertilization market include the major advancements in technology that have occurred in the past decade, public and private investments and government incentives, increasing healthcare expenditure due to the rise in global GDP, and a general increase in the acceptance of in vitro fertilization as a feasible option.
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On the other hand, the global in vitro fertilization market is still being restrained by factors such as lack of awareness especially in developing economies and the lack of skilled medical professionals to perform the therapy. Other complications that stand against the growth of the global in vitro fertilization market are the side effects of using IVF, strict government regulations regarding population control, and the negative connotations attached to IVF in certain cultures. Side effects include OHSS and multiple births.
In Europe, almost 4% of annual births are the outcome of in vitro fertilization. This number is expected to increase even further over the coming years. Japan leads the global in vitro fertilization market in terms of number of citizens applying for the treatment, followed by Europe and the U.S.. Nations such as India are witnessing rapid growth owing to high population density and growing awareness of the treatment option.
Some of the major advancements in technology that have helped the proliferation of the global in vitro fertilization market include intra cycloplasmic sperm injection, frozen embryo transfer, and time lapse technology.
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