In-vitro Fertilization Market – Overview
In vitro fertilization is the process of fertilization in which an egg is combined with specialized sperm in vitro. This process often involves controlling the activity of an individual’s gonadotrope, removing an existing ovary or ova in their ovarian vessels, and allowing specially prepared sperm to fertilize them in a lab. It has enabled many couples to be able to conceive a child even though they would otherwise not have been able to. Many couples may still try for more conventional in vitro fertilization after trying out in vitro methods first. The global in-vitro fertilization market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global in-vitro fertilization market growth over the forecast period, owing to proactive government initiatives IVF treatments.
The In-vitro Fertilization market was valued at approximately USD $667 million in 2020, and it is expected to witness a revenue of USD 1,843 million in 2028, registering a CAGR of 9.3% over the forecast period, 2021-2028.
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In-vitro Fertilization Market – Drivers
Declining fertility rates are expected to drive the growth of the global in-vitro fertilization market during the forecast period. According to the U.S. Centers for Disease Control and Prevention (CDC) National Center for Health Statistics, in 2020, around 3.6 million babies were born in the U.S., making a 4% decline as compared to 2019. According to the World Bank, the fertility rate dropped to 2.403 births per woman in 2019 from 2.609 births per woman in 2004. This, in turn, has increased the demand for artificial fertilization methods. Hence, such factors are expected to drive the growth of the global in-vitro fertilization market during the forecast period. Moreover, proactive government initiatives IVF treatments are expected to propel the global in-vitro fertilization market growth over the forecast period.
In-vitro Fertilization Market – Restraint
High cost and low success rate of the IVF treatment is expected to restrain the growth of the global in-vitro fertilization market during the forecast period.
Regional Insights –
Among regions, Europe is expected to witness significant growth in the global in-vitro fertilization market during the forecast period. This is owing to rising medical tourism and legal revisions related to IVF techniques. Moreover, Asia Pacific is expected to register a robust growth rate, owing to the demand for IVF treatment in the region.
- North America (USA and Canada)
- Europe (UK, Germany, France, and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
Competitive Section –
Major companies involved in the global in-vitro fertilization market are Cooper Surgical, Thermo Fisher, Merck, Genea Limited, Irvine Scientific, Cook Medical, Rocket Medical, and Kitazato.
For instance, in September 2021, Goodwill IVF launched a center for advanced reproductive services in Kerala, India with affordable IVF treatment options.
The In Vitro Fertilization Market report highlights product development and growth strategies such as mergers and acquisitions adopted by market players along with SWOT Analysis, PEST, and Porter’s Five Forces analyses of the In Vitro Fertilization Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
In-Vitro Fertilization Market – Segmentation
By Product Type, the market is primarily segmented into:
- Fresh non-donor
- Frozen non-donor
- Fresh donor
- Frozen donor
By Applications, the market is segmented into:
- Fertility clinics and surgical centers
- Hospital and research laboratories
Reasons to Purchase this Report –
- The trendy developments, market shares, and strategies that are employed by means of the essential market players
- The segment that is anticipated to dominate the market as properly as the segment which holds the highest CAGR in the forecast period
- Current and future of global In-Vitro Fertilization market outlook in the developed and rising markets
- Regions/countries that are anticipated to witness the quickest growth rates at some stage in the forecast period
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Key Questions Answered by the Report:
- What is the estimated market size for the year 2021?
- What will be market growth till 2028, and what will be the resultant market size over the next Eight Years?
- What is the Impact of Covid-19 on market growth? How is Industry mitigating the associated risk, and overcoming the associated challenge?
- What are key market drivers, restraints, and future opportunities? How are they impacting the market dynamics and subsequent analysis of the associated trends?
- Which segment or region will drive or lead market growth, and Why?
- Who are the entities in the ecosystem of the market? How are they connected? How are they performing?
- A comprehensive mapping of all the market participants, and detailed competitive intelligence on each of them.
- What are the key strategies adopted by market players? An in-depth analysis of these strategies and their impact on competition and revenue growth
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