Market Overview

IVF Market Size is projected to achieve a value of USD 24.54 Billion in 2024, with a linear behavior in the market growth it is forecasted to achieve a value of USD 38.75 Billion by 2033 with a CAGR of 8.65% during the forecast period 2024-2033.

SOURCE: We Market Research

In vitro fertilization, or IVF, is an assisted reproductive technique used to help people or couples conceive when natural conception proves to be problematic. Eggs and sperm are mixed in a lab dish to generate embryos, which are then placed inside the uterus. The initial effect of hormone therapy is increased egg production by the ovaries. Following their recovery, sperm fertilize eggs in a controlled environment. A baby could result from the successful implantation of an embryo. IVF is a well-liked infertility treatment that offers hope to those who are struggling to conceive.

Key Points:

·         Europe dominates the market with an active share of 38% and it forecasted to be worth more than USD 14.72 by 2033.

·         The three main approaches to IVF that involve no or fewer drugs are natural cycle IVF, mild stimulation IVF and in vitro maturation (IVM).

·         Natural IVF is additionally preferred because it is thought to be less costly and may be performed with consecutive cycles.

IVF Industry: Regional Analysis

Europe Market Forecast

Europe dominate the IVF Market with the highest revenue generating market with share of more than 38%. The increased incidence of infertility and the region's rising IVF treatment success rate have been attributed for the domination. Europe's most IVF-active nations, including Denmark and Spain, are thought to be in charge of propelling the region's market expansion throughout this time.

SOURCE: We Market Research

North America Market Statistics

North America is the second-largest market for IVF treatment. North America is significantly influenced by a more advanced healthcare system, higher disposable income, more public awareness of fertility treatments, favorable reimbursement policies, and the presence of large market players.

APAC Market Forecasts

Asia Pacific is expected to be the fastest-growing market for IVF during the forecast period. Important elements in this area are the quickly growing medical tourism sector, improving medical facilities, rising rates of infertility due to lifestyle changes, raising public awareness, and government initiatives supporting fertility treatments.

COVID-19 Impact:

Global disruptions in the in-vitro fertilization (IVF) market were caused by the COVID-19 epidemic. IVF cycles first decreased as a result of restrictions on non-essential medical procedures, travel restrictions, and uncertain economic conditions. The number of procedures performed significantly decreased as a result of clinic closures and patient access to reproductive treatments being restricted. Additionally, patients' willingness to undertake reproductive treatments was impacted by worries about the spread of viruses and other health risks. But the market gradually recovered thanks to adjustments like telemedicine consultations and strict safety procedures in clinics. Resilience and innovation in reproductive healthcare were fostered by improved knowledge of fertility options following the pandemic and technological developments in remote monitoring, which had a favorable impact on the IVF industry.

Market Scope

IVF Industry: Dynamics & Restrains

Market Drivers

Rising age of first-time mothers - The growing average age of first-time mothers is a major factor driving the IVF business. Due to age-related decreases in reproductive capability, women who put off having children for a number of reasons—such as marital issues or career goals—have a harder time getting pregnant. This trend drives up demand for IVF operations because higher rates of infertility are often associated with older mothers. IVF is becoming more and more popular because it's a necessary choice for those who wish to start a family later in life. In order to overcome age-related infertility, there is a rising need for assisted reproductive technology.

Increasing Awareness and Acceptance - The IVF market is greatly driven by the rise in social acceptance and understanding of infertility concerns and assisted reproductive technologies. Growing awareness and a decline in stigma around fertility treatments have encouraged more people, including couples, to consider IVF as a potential treatment option. This greater acceptance encourages people to seek expert assistance, which increases the number of people who may be candidates for IVF treatments. As awareness increases and false beliefs fade, more people are considering and pursuing these cutting-edge reproductive therapies, which propels market expansion by normalizing IVF as a viable route to parenting.

Market Restrains

High procedure cost - There is a substantial restriction on the market because many individuals and couples cannot afford IVF surgeries. Due to financial barriers brought on by the expensive nature of multiple cycles of treatment, many individuals are discouraged from attempting IVF. The issue of affordability becomes particularly important when there is limited or no insurance coverage for reproductive procedures. Because of this, even while the demand for assisted reproductive technologies is expanding, the high costs of IVF act as a barrier to entry, restricting the market's potential expansion by excluding those who cannot afford it.

IVF Market Segmentation

Market- By Product Type Analysis

By Product Type, the IVF Market is Categories into Fresh Non-Donor, Fresh Donor, Frozen Donor, and Frozen Non-Donor. The Fresh Non-Donor segment accounts for the largest share of around 42 % in 2022.

Fresh sperm and eggs frequently have somewhat higher success rates than frozen ones because to their ideal age and motility. This is a key factor to take into account for couples who want to maximize their chances of success on their first attempt.

The following segments are part of an in-depth analysis of the global IVF Market:

Key Market Players

The IVF Market is dominated by a few large companies, such as

·         Boston IVF

·         Thermo Fisher Scientific Inc

·         Rocket Medical Plc

·         The Baker Company, Inc

·         Kitazato Corporation

·         Progyny, Inc

·         IVFtech ApS

·         Cook Medical Inc

·         EMD Serono Inc

·         Cooper Surgical Inc

·         Esco Micro Pte. Ltd

·         Genea Biomedx

·         Irvine Scientific

·         Vitrolife AB

·         OvaScience

Recent Developments:

·         January 2021, Merck KGaA and Royal Philips have partnered to develop a digital system that offers individualized fertility treatment.

·         2020, Genea Inc. Hamilton Throne Ltd. worked together to market Genea Ltd.'s fertility products in North America.