In Vitro Fertilization [IVF] Market to Reach US$ 35.83 Billion by 2032 With CAGR of 7.47%, Driven by Rising Infertility Rates & Technological Advancements | Research by SNS Insider

As per the SNS Insider research, The integration of AI and machine learning is enhancing embryo selection, improving success rates, and reducing time to pregnancy.

Pune, July 05, 2024 (GLOBE NEWSWIRE) — In Vitro Fertilization [IVF] Market Analysis:

“According to SNS Insider, The In Vitro Fertilization (IVF) Market was valued USD 18.82 billion in 2023, anticipated to reach USD 35.83 billion by 2032 with a CAGR 7.47% during the forecast period 2024-2032.”

The global rise in infertility rates has led to a surge of IVF market. According to the World Health Organization, approximately 1 of every 7 adults will have difficultly conceiving without assistance and yours truly is one of them for who accessibly pricing fertility care options are screaming out at us. This has caused an increase in demand for assisted reproductive technologies such as IVF (in vitro fertilization), with nearly 1 in 10 women and men suffering from infertility and associated symptoms only within the US.

This has been enhanced by societal changes such as delayed marriage and childbearing – more pronounced for career-oriented women. Happily, the evolution of egg freezing technologies has equipped women with an opportunity to delay childbearing interests while maintaining large potential fertility requirements. The IVF market is also aided by constant technological improvements that enhance success rates. Approaches which included egg/sperm cryopreservation, vitrification (rapid freezing) or assisted hatching have significantly improved outcomes. Male infertility, however-where options for women are IVF and surrogacy when gametes from one sex cannot be obtained or used down a woman’s path-is grim indeed but newer sperm retrieval methods like PESA, as well as TESE now give hope. For example, the recent merger of AI solutions company AIVF Ltd. and Genea Biomedx (medical devices) exemplifies this dynamic shift in order to personalize more affordable IVF systems for patients at a global scale In addition, the growing popularity of medical tourism makes it possible to perform IVF treatment at a lower cost for patients with limited budgets. To summarize; high infertility rates, advances in technology and the availability of IVF through medical tourism are expected to drive growth within the In vitro fertilization (IVF) market.

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Key Players Analysis Listed in this Report are:

  • EMD Serono, Inc. (Merck KGaA)
  • Cook Medical LLC
  • Bayer AG.
  • Vitrolife EMD Serono, Inc
  • Thermo Fisher Scientific
  • Ferring B.V.
  • Genea
  • Biomedx
  • The Cooper Companies
  • FUJIFILM IrvineScientific
  • Other Players

In Vitro Fertilization [IVF] Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 18.82 Billion
Market Size by 2032  US$ 35.83 Billion
CAGR  CAGR of 7.47% From 2024 to 2032
Base Year  2023
Forecast Period  2024-2032
Historical Data  2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Growth Drivers
  • Surging Need for IVF Solutions Amidst Growing Infertility

Segmentation Dynamics

By Instruments, Culture media is the leading segment in terms of revenue and accounted for about 60% share of global in vitro fertilization (IVF) market, by product type. This leadership is driven by its on-going research and development (R & D) as well as advancements in the culture media itself Indeed, companies like FUJIFILM Irvine Scientific continue to innovate – and have launched specialized oil for improved embryo culture only last week.

The disposable devices segment is projected to grow at the fastest CAGR during this period owing to increasing usage of various types such as slides, needles and chambers. Technological advancements like sterility and compliance being just some of the examples provide a lot of advantages that are crucial for successful IVF procedures. There are already disposable slides available for sperm counting and microchip technology is blowing up.

By Procedure Type, in 2023, frozen non-donor eggs will continue to hold the largest segment of egg source share, accounting for nearly 60% in the IVF market. This dominance is largely driven by their high cost-performance and minimally invasive collection methods, which will pave the way for further expansion; But the new cause for potential growth is fresh donor eggs. From the same 2020 figures, an ART cycles report indicates growing demand for international egg donations with hundreds of women pursuing treatment. Challenges remain, though. Hurdles like one-size-fits-all sperm donor screening and rules health wonk Peter Ubel calls “exactly backward,” eg mandatory, idiosyncratic state-mandated HIV-testing quarantines. The availability of public funding for donors’ gametes when used by same-sex couples or single parents also complicates matters.

By Providers, Fertility clinics lead the IVF market, capturing over 63% of revenue in 2023. This dominance is driven by several factors. The growing adoption of assisted reproductive technologies (ART) fuels the need for specialized clinics, leading to a welcome expansion in their numbers. Additionally, fertility clinics often offer a more affordable and patient-centered experience compared to hospitals. While hospitals provide a broader range of services and cater to complex cases, current trends favor the continued growth of fertility clinics. This is particularly true in developed countries, where cost-effectiveness is a major consideration.

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In Vitro Fertilization [IVF] Market Key Segmentation:

By Instrument

  • Disposable Devices
  • Culture Media
    • Cryopreservation Media
    • Embryo Culture Media
    • Ovum Processing Media
    • Sperm Processing Media
  • Equipment
    • Sperm Analyzer Systems
    • Imaging Systems
    • Ovum Aspiration Pumps
    • Micromanipulator Systems
    • Incubators
    • Gas Analyzers
    • Laser Systems
    • Cryosystems
    • Sperm Separation Devices
    • IVF Cabinets
    • Anti-vibration Tables
    • Witness Systems
    • Other

By Procedure Type

  • Fresh Donor
  • Frozen Donor
  • Fresh Non-donor
  • Frozen Non-donor

By Providers

  • Fertility Clinics
  • Hospitals & Others Setting

Regional Analysis

Europe leading the global market for in vitro fertilization (IVF) and with a revenue share of 36.7% by 2023. The dominance is powered by a number of factors. Cost-Effective Alternative for IVF Europe provides an economical alternative to patients searching for a solution from Cyclical Transfer Medical tourism is growing as people are becoming more aware that they can get their treatment in places such as the Czech Republic where it will be cheaper. Secondly, Europe is a global centre of excellence in the industry. The approval of Fairtility’s AI-based embryo assessment tool reflects this dedication to advancement, according to a July 2022 statement. And that promise could be what keeps Europe in its top spot of the IVF market thanks to impressive technology.

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Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. In Vitro Fertilization (IVF) Market Segmentation, By Instrument 

8. In Vitro Fertilization (IVF) Market Segmentation, By Procedure Type

9. In Vitro Fertilization (IVF) Market Segmentation, By Providers 

10. Regional Analysis

11. Company Profiles

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions

13. Use Case and Best Practices

14. Conclusion

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