The world IVF market accounted for $9,015 million in 2015 and is projected to garner revenues worth $17,714 million by 2022, registering a CAGR of 10.2% over the forecast period. 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 favorable 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.
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The Europe IVF market is the leading region in terms of revenue, whereas Asia Pacific is the fastest growing region, owing to growing demand for IVF processes. In terms of number of IVF cycles performed, the Asia-Pacific region dominates the global IVF market. Asia Pacific IVF market is set to grow at a promising CAGR of 13.3% from 2016 to 2022, due to factors such as wide availability of IVF clinics, high IVF success rates and the rising trend of fertility tourism. In Asia-Pacific region, Japan is the leading country accounting for majority of the market share and is expected to maintain its position throughout the analysis period.
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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.
The world IVF market is segmented on the basis of cycle type, end users and geography.
Market by End Users
- Fertility Clinics
- Surgical centers
- Clinical research institutes
Market, By Geography
- North America
- United States
- United Kingdom
- Others Europe
- New Zealand
- Others APAC
- Latin America
- Middle East
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