The IVF market in Asia Pacific is characterized by the growth in standards of living, growing number of couples delaying parenthood due to professional commitments and trends towards financial stability. The Asia Pacific IVF market, valued at $1.3 billion in 2012, is estimated to reach $4.2 billion by 2020. Delayed pregnancy in women is one of the major driving factors of the IVF market, as the chances of conceiving lowers with age. The success rate of getting pregnant with IVF technique is higher in the age group of 35-39. Other driving factors of the IVF market are rise in infertility rate due to rise in stress levels, change in life style and fertility related diseases.Asia in particular is facing the challenge of aging population and lower work force replacement.
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These trends would impact the socio-economic development and progress. Many countries in Asia Pacific which are Japan, North and South Korea, China, Vietnam, Singapore and Thailand have fertility rates that are way below the replacement fertility levels. According to the East West center study, Japan, South Korea, Singapore and Taiwan Asia’s prosperous economies have the lowest birth rate worldwide.Taiwan has the lowest birth per women which is 0.91 (2010) when compared with South Korea (1.15), Japan (1.39) and Singapore (1.16). This trend is due to couples postponing parenthood, couples preferring few children or rather no children at all.Countries in Asia Pacific with such lower levels of fertility have initiated innovative assistance programs to promote parenthood and provide subsidies on fertility treatments such as IVF.
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In addition, lower treatment cost as compared to western countries has also proved to be encouraging for the artificial reproductive treatment (ART) industry in the region. With the advancing technologies, the success ratio for ART, especially IVF, has also grown in the region. Together these factors have not only provided the region to improve on its birth rates but have also added to the growth of the medical tourism industry in the region. A number of countries have gain popularity for medical tourism, of which Malaysia, Thailand, Singapore, and India are the most preferred countries.
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