Major players are investing their resources in launching strategies and product improvement to enhance on their capacity expansion.
The Intrauterine Insemination (IUI) Devices market is slated to record a sturdy CAGR of 3.8% during 2020- 2030. The market has foreseen a marginal fall in 2020, which could be due to the ongoing covid-19 crisis. Limitations on manufacturing facilities, and the redirection of healthcare resources to deal with the crisis has hurt short-term market growth.
“Investments by IVF clinics for advanced fertility technologies in a competitive sector boost the demand for IUI devices. Modifications in laws favoring same sex couples and single parents will compliment market developments, chiefly in emerged economies.” says an FMI analyst.
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Key Highlights
- East Asia, led by China, is anticipated to hold more than 40% of the overall market share during the forecast period.
- IUI media/sperm wash devices will be accounting for major market share of more than 60% through the end of the projected period.
- IVF clinics will be holding over 55% of the overall market share.
Drivers
- Notable improvements to success rates in assisted reproduction practices to generate lucrative prospects.
- Increase in use of intrauterine insemination in same sex couples seeking to conceive is driving the market expansion.
- Technological advances in automation and AI, which allows higher success rates via monitoring hormonal levels along with other health parameters will fuel adoption in the approaching years.
- Products for home care setting for treatment is gaining traction in the market due to advancements in fertility treatments.
Restraints
- High costs of fertility treatments, offered at IVF hospitals and clinics holds back the growth of the market.
- Developing nation’s face the challenge of absence of insurance coverage for fertility treatments, which further restricts the implementation of intrauterine insemination devices, due to excessive out of pocket spending.
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COVID-19 Impact on the Market
The outbreak has moderately influenced the IUI devices market, with limitations on selective healthcare procedures. Companies are pushed to close down or limit production processes, for non-essential applications. The demand for IUI devices has been further impacted due to health risk to pregnancies amid this crisis. These aspects, along with a slump in consumer expenditure has impacted the market size, and restricted investments. However, the market is likely to show recovery by 2021, with steady ease of lockdown restrictions.
Competitive Landscape
Key companies in the fairly fragmented IUI devices market are progressively focusing on launching strategies and investing into product improvement. Companies are further pushing for strategic acquisitions and collaborations to advance on capacity and geographic expansions.
Leading companies functioning in the global market includes Subhag HealthTech, Reproductive Sciences, Rinovum Women’s Health, DxNow Inc., CooperCompany Inc., Kitazato Corp, Cook Medical, Prince Medical, Rocket Medical Plc, Surgimedik Healthcare, Gynotec B.V., MedTech Devices Pvt. Ltd. and Medgyn.
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About the Study
The study offers readers a comprehensive assessment of the Intrauterine Insemination (IUI) devices market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of Product Type (IUI Catheters{Curved, Flexible and Straight} and IUI Media/Sperm Wash), End user (Hospitals and IVF Clinics), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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