The report states that the global IVF Devices and Consumables Market generated/accounted for $1.9 billion in 2017 and is projected to attain $6.9 billion by 2025, registering a CAGR of 17.6% during the forecast period, 2018-2025.
The growth of the global in vitro fertilization (IVF) devices and consumables market is driven by a rise in global infertility rates, delayed pregnancies in women, increase in gamete donations, the surge in healthcare expenditure worldwide, and technological advancement in IVF devices. However, constraints regarding IVF cost, low awareness of IVF, and complications associated with IVF treatment restrain market growth. Conversely, fertility tourism, the rise in same-sex marriages, and an increase in a number of fertility clinics in emerging markets provide lucrative opportunities for new market players.
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The report segments the global IVF devices and consumables market by product, technology, end user, and geography. Based on the product, the report categorizes the market into the instrument, accessory & disposable, and reagent & media. The accessory & disposable segment contributed the maximum revenue to the global market in 2017 and is expected to dominate the market through 2025, owing to its cost-effectiveness. However, the instrument segment is projected to encounter the fastest growth rate, registering a CAGR of 23.7%, owing to technological advancements and surge in demand for advanced IVF devices.
Based on technology, the market is sub-segmented into fresh embryo IVF, frozen embryo IVF, and donor egg IVF. The fresh embryo IVF is not only estimated to remain the dominant segment throughout the forecast period but is also projected to register the fastest growth rate of 17.9% CAGR, due to its advantages such as higher success rate, convenience, cost-effectiveness, and safety.
The report sub-segments the global market into a fertility clinic, hospital, surgical center, and clinical research institute, based on the end user. The fertility clinic segment held more than half share of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
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Owing to an increased IVF demand, the rise in infertile population, a surge in trained medical professionals, and the availability of technological advance IVF devices with higher success rate – Europe dominated the global IVF devices and consumables market in 2017 and is expected to maintain its lead from 2018 to 2025. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to an increase in disposable income and surge in adoption of IVF owing to rise in infertility rate.
The report also profiles key players involved in the global IVF devices and consumables market, such as Cook Medical Inc., FUJIFILM Holdings Corporation (Irvine Scientific Sales Company, Inc.), Genea Biomedx, Merck KGaA (EMD Serono, Inc.), Ovascience Inc., Oxford Gene Technology, Progyny Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Thermo Fisher Scientific, Inc., and Vitrolife AB. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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