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.
In Vitro Fertilization Device Market – Overview
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.
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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 – Competitive Tracking
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
- OvaScience, Inc
- Vitrolife AB
- Cook Medical, Inc.
- Esco Micro Pte. Ltd
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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Market Drivers and Restraints
With the combination of advanced technology and extensive research in the healthcare sector, various upgraded medical devices have been introduced in the recent years. Changing lifestyles and delayed pregnancies are leading to increasing incidences of pregnancy-related complications and chances of infertility. Proliferation in cases of infertility is inducing demand for in vitro fertilization technology which in turn is fueling the growth of the global in vitro fertilization devices market.
Increase in number of populations that is infertile due to anatomical factors and chromosomal defects, expansion of LGBT community and increasing preference of in vitro fertilization by single mothers are resulting in the rapid expansion of the global in vitro fertilization device market. Rise in awareness regarding male infertility and development of advanced medical devices are some of the other factors that are driving the global in vitro fertilization device market.
However, legal and ethical concerns associated with IVF technology, social stigma in countries developing countries, lack of awareness in underdeveloped regions and complications associated with in vitro fertilization are some of the factors that are creating hindrance in the growth of the global in vitro fertilization device market during the forecast period.
In Vitro Fertilization Device Market – Regional Analysis
On the basis of the region, the global market for In-Vitro Fertilization Device is segmented into North America, Europe, the Middle East & Africa (MEA) and South America. Among these regions, Europe has emerged as the most attractive market for IVF device, in 2017, Europe accounted for little under 40% share of the global IVF device market, holding the pole position. Growth of the market in the region can be primarily attributed to the increasing government funding for Assisted Reproductive Technology (ART) and declining fertility rate in Europeans. Germany, the UK, and France hold the major share of the Europe market. Meanwhile, North America and South America represented the second largest In-Vitro Fertilization Device Market. Availability of advance IVF technology acts as a major positive for the region’s market.
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