The Global Market for In Vitro Fertilization (IVF) device is projected to surge at a CAGR of 11.7% during the forecast period (2016-2022), as analyzed by experts from Market Research Future (MRFR). Rise in infertility rates, surge in the availability of technologically advanced products, steady success of the IVF procedure, and a rise in fertility tourism worldwide has helped this market gain prominence worldwide.
The demand for IVF procedures in surgical centers is on a rise due to these centers providing facilities for surgical sperm retrieval and fertility enhancing surgeries such as tubal surgery, tubal reversal surgery, and various other techniques that can eventually lead to conception. The rise in the number of fertility clinics also allows couples to choose clinics based on their convenience, thus pushing the demand for IVF devices globally. Also, increasing awareness amongst couples facing infertility issues seek medical help, which in turn fuels the IVF market growth.
However, device related issues and controversies with regard to in-vitro fertilization devices are anticipated to present challenges to the market growth during the forecast period. On the other hand, government funding for egg/sperm freezing processes which brings down the chances of multiple pregnancies and technological advancement which assists in pre-identification of any genetic disorder can foster market growth. Hectic schedule, changing lifestyle, stress, and tension can create issues of infertility. This can create opportunities for the market.
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In Vitro Fertilization Device Market – Competitive Landscape
Some of the key players in this market are: EMD Serono, Inc., Irvine Scientific, Cooper Surgical, Inc., hermo Fisher Scientific, Inc., Genea Biomedx, Auxogyn, Inc., Oxford Gene Technology and OvaScience, Inc Vitrolife AB, Cook Medical, Inc., Esco Micro Pte. Ltd and others.
In September 2018, it was revealed in Australian Financial review Friday that the Asian investment firm Aldworth Management, Hong Kong-listed financial services and wealth company Mason Group and Chinese company WeDoctor which is backed by Tencent Group Holdings Ltd. are have teamed up to buy Genea, Australia’s third-largest in vitro fertilization services provider based in Sydney.
In January 2018, A team of researchers from Worcester Polytechnic Institute (WPI) and Stanford University, developed a SPARTAN sperm sorting device that Could Improve IVF Success. The device uses an “obstacle course” to sort and select faster and healthier sperm cells which can be used in IVF treatment.
In November 2016, The Cooper Companies, Inc. announced the acquisition of Wallace, the in-vitro fertilization (IVF) segment of Smiths Medical by CooperSurgical. The acquisition provides strategic benefit to CooperSurgical’s existing IVF portfolio as Wallace brings the gold standard of embryo transfer catheters along with some of the premier products like oocyte retrieval needles.
In June 2016, CooperSurgical acquired Reprogenetics UK of Oxford, United Kingdom. Reprogenetics UK is a terrific addition to CooperSurgical’s industry leading ART portfolio of IVF and genetic testing solutions.
In Vitro Fertilization Device Market – Segments
Global In Vitro Fertilization Device Market has been segmented on the basis of devices which comprises accessories and disposables, micromanipulator imaging system, cabinet, ovum aspiration pump, sperm separation system, incubators, cryosystem and others. On the basis of technology, the market is segmented into frozen embryo transfer technique, donor egg IVF technique, fresh embryo transfer technique and others. Further on the basis of end users the market is segmented into surgical centers, clinical research institutes, fertility clinics, hospitals and others.
In Vitro Fertilization Device Market – Regional Analysis
Geographically, the global in vitro fertilization device market is segmented into four major regions such as America, Europe, Asia Pacific and the Middle East and Africa. The America region is dominating the global in vitro fertilization device market owing to the increasing demand for this procedure and easy adoption of advanced technology in this region. The Europe region is anticipated to be the second largest market in the global in vitro fertilization device market due to the increasing health care expenditure and availability of upgraded medical devices in this region.
The In Vitro Fertilization Market in the Asia Pacific region is registered to grow at a significant rate during the forecast period owing to the increasing awareness and acceptance of in vitro fertilization technology in this region. Lack of awareness and poor primary health care services in the underdeveloped areas of the Middle East and Africa region are hampering the expansion of the in vitro fertilization device market in this region.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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