VANCOUVER, BC, Sept. 23, 2020
- Increasing infertility cases and the advancement of new technologies, such as lensless sperm imaging, are expected to propel the growth of the in-vitro fertilization industry in the forecast period.
- In-Vitro Fertilization Market Size – USD 15.87 Billion in 2019, In-Vitro Fertilization Market Growth - CAGR of 9.1%, In-Vitro Fertilization Industry Trends– High demand from developing nations
VANCOUVER, BC, Sept. 23, 2020 /PRNewswire/ --The Global In-Vitro Fertilization Market is forecast to reach USD 31.97 Billion by 2027, according to a new report by Emergen Research. The growth of the sector is facilitated by rising occurrences of infertility attributable to behavioral improvements, policy measures to have fair insurance schemes, and ongoing efforts by suppliers in the industry. The development of fertility therapies to treat male infertility, such as ICSI, is expected to have a positive impact on market growth. In turn, the provision of genomic testing to deter genetic disorder transfer through in-vitro fertilization (IVF) usage is also projected to push the IVF industry. The increase of IVF treatment has led to more insurance players covering the procedures. It led directly to competitive rates and moderated the costs of IVF treatment, as the process was a successfully mastered technology that has driven the market with more optimization and automation of therapy. The main factor leading to reduced Total Fertility Rate (TFR) is a behavioral change in culture. These factors include a growing number of women in the workforce, higher first-born age, urbanization, lower marriage rates, and changing attitude towards marriage.
Growing consumer understanding of infertility and the development of various therapies are anticipated to fuel business growth. Any other reasons, such as the availability of innovative drugs, decreased male infertility, reduced alcohol & tobacco use, and increased policy efforts to improve IVF care, are projected to further fuel consumer demand.
According to the American Society for Pregnant Medicine (ASRM), approximately 6.7 million people in the U.S. are impacted by the inability to conceive, which accounts for around 11.0% of the reproductive population. Additionally, 25% of couples have more than one factor that can cause infertility. Researchers have also developed methods that are used beforehand to improve the effective rate of in-vitro fertilization. Specific methods such as aided hatching, vitrification, processing of egg/sperm, percutaneous epidydimal sperm accumulation and testicular sperm retrieval (PESA and TESE), mini IVF, tri-parent IVF, and genetic testing are already being utilized. Due to the broad target demographic, low treatment cost than developing countries, and availability of advanced technologies, Asia Pacific held the largest market share with regard to the number of IVF cycles conducted in 2019.
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Further key findings from the report suggest
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For the purpose of this report, Emergen Research has segmented the global In-Vitro Fertilization market based on the procedure type, instrument, application, and region:
Procedure Type Outlook (Revenue, USD Billion; 2017-2027)
Instrument Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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