Infertility patients are adopting the various type of treatments such as in vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), intrauterine insemination (IUI), and other procedures. Among which IVF is the most common technique used to treat infertility and the adoption and success rate of IVF is high. For instance, according to a clinical study conducted by IVF Australia in 2015, the success rates range from 37% per embryo transfer leading to a live birth for patients under 30 years to 8.8% per embryo transfer leading to a live birth for patients over 40 years.
The global infertility devices market was valued at US$ 7,104.1 million in 2018 and is expected to exhibit a CAGR of 8.4% over the forecast period (2019-2027).
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Growing adoption of smart strategy such as collaboration and acquisition by the market players are projected to boost the growth of the infertility devices market
The infertility devices market is projected to witness significant growth, owing to the rising adoption of acquisition and collaboration strategies by the market players. For instance, in July 2019, Thermo Fisher Scientific Inc. entered into a global research collaboration with Predictive Laboratories, a wholly-owned subsidiary of Predictive Technology Group Inc. focused on studying the underlying genetic factors leading to infertility in women. Moreover, in June 2018, Vitrolife AB, and GE Healthcare entered into a partnership to improve its assisted reproductive technology offerings. This partnership has helped Vitrolife to expand its IVF product portfolio in the global market.
Growing age is associated with increased chances of infertility, which is further projected to bolster the infertility devices market growth over the forecast period. According to the National Survey of Family Growth’s factsheet, in 2017 nearly 8.8% of women aged from 15 years to 49 years were infertile among these, around 12.7% of women received infertility services from 2015 to 2017 in the U.S.
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Growing awareness among healthcare professionals regarding infertility treatment is projected to fuel the adoption of such treatment options, which is further expected to propel the market growth over the forecast period. For instance, in 2017, Merck in collaboration with Genea, launched Centre of Excellence for Fertility (CoE) to offer scientific and clinical training modules for fertility professionals, to equip them with advanced understanding to produce enhanced clinical outcomes for patients.
Moreover, increasing product approvals and product launches by the key players are expected to boost the growth of the infertility devices market over the forecast period. For instance, in September 2019, FUJIFILM Irvine Scientific, Inc. launched Vit Kit-NX (Vit Kit-NX comprising of Vit Kit Freeze-NX and Vit Kit Warm-NX) as an addition to an established portfolio of vitrification solutions for in vitro fertilization (IVF).
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North America is projected to hold a dominant position in the global infertility devices market in 2018, due to the high presence of charitable trusts that provide funds to infertile individuals for treating infertility problems. For instance, BabyQuest Foundation is a charitable organization based in California, U.S., which was established in 2011. The goal of this non-profit organization is to grant financial assistance to those who cannot afford infertility treatments such as IUI, IVF, and egg donation. They disburse funds twice a year according to the availability of funds.
Europe is projected to account for significant market share in the global infertility devices market over the forecast period, due to favorable reimbursement policies for infertility treatment by the government and facility expansion by the market players in the region. For instance, in December 2019, The Cooper Surgical, a subsidiary of Cooper Companies Inc., opened a new center of excellence IVF training lab in Malov, Denmark to increase its presence in the Europe market.
Additionally, Asia Pacific is projected to witness significant growth in the infertility devices market over the forecast period, owing to the increasing prevalence of infertility rates in the Asian population. For instance, according to the Indian Society of Assisted Reproduction (ISAR) report of 2017, infertility affects around 10 to 14% of the Indian population, with higher rates in urban areas where one out of six couples are affected from it.
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Major players operating in the global infertility devices market include Carl Zeiss Meditec AG, Thermo Fisher Scientific Inc., Vitrolife AB, The Baker Company, Inc., The Cooper Companies, Inc., Fujifilm Irvine Scientific, IVFTECH APS, Kitazato Corporation, MedGyn Products, Inc., Rocket Medical plc, SOMATEX Medical Technologies GmbH, Cook Group Incorporated, Esco Micro Pte Ltd, Hamilton Thorne, Ltd, and Art Biotech Pvt. LTD.
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