As per the latest report published by Market Research Report, the Global Market for In-Vitro Fertilization (IVF) Device will witness an impressive CAGR of 10.50% from 2018 to 2023 and reach a valuation of over USD 12,700 Mn. IVF is a landmark achievement in assistive reproductive technology, which has become extremely popular in recent years.
IVF helps in overcoming issues in conceiving or natural impregnation. The technology has undergone tremendous improvements, making it a trusted treatment option. IVF has a high success rate, however, is an expensive procedure and is viewed among the last resorts.
Patients usually opt for IVF upon failure of the other treatments. IVF procedures have increased over the years, thereby expanding its global market. Increased incidences of genetic abnormalities in embryos and miscarriage is also leading to a higher demand for IVF procedures. Moreover, wider acceptance of surrogacy is reflecting favorably on the IVF industry.
Modern individuals both women and men are delaying marriage to over the age of 30 and beyond where reproduction, especially for women usually becomes much more complicated. Such trends are partly driving the popularity of IVF. Other factors that are linked with the growth of the global IVF device market, include increased rate of infertility and reproductive tourism.
In Vitro Fertilization Device Market – Key Players
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.
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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 – Regional Analysis
Europe is likely to be a major contributor to the global IVF market over the forecast period. The medical research sector in Europe is highly advanced and houses well-developed IVF procedures. Medical tourism in Europe has also taken off in a big way, with countries such as the Czech Republic emerging as a popular destination for Americans looking to obtain IVF treatments at a cheaper rate. The U.K., France, and Germany are likely to play key roles in the development of the in vitro fertilization market in Europe over the forecast period.
The Asia Pacific in vitro fertilization market is also likely to take off spectacularly over the forecast period due to the growing medical tourism in the region, including medical tourism for fertility treatments, and growing prevalence of infertility problems in APAC countries themselves. The growing population of APAC countries is likely to provide fertility clinics with a rich market in the coming years, leading to steady growth of the in vitro fertilization market over the forecast period.
North America is also likely to remain a steady contributor to the global in vitro fertilization market over the forecast period due to the growing prevalence of infertility conditions among North American men and women.
In Vitro Fertilization Device Market – Segments
The Global In Vitro Fertilization Market report segments the global market on the basis of type, product, end user, and region.
By Type, the global in vitro fertilization market is segmented into intrauterine insemination, in-vitro fertilization, intracytoplasmic sperm injection, and IVF using donor eggs. The share of intracytoplasmic sperm injection in the global IVF market is likely to remain strong over the forecast period, as the method has become extremely popular in recent years.
By Product, the global in vitro fertilization market is segmented into devices and reagents. The devices segment is sub-segmented into imaging systems, sperm separation systems, ovum aspiration pumps, cerosystem, and micromanipulators. The reagents segment is divided into embryo culture media, cryopreservation media, sperm processing media, and ovum processing media.
By End User, the IVF market is segmented into fertility clinics, hospitals, and clinical research centers.
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