The Global In-Vitro Fertilization (IVF) Market is estimated to reach USD 26.2 Bn by 2027, growing at a CAGR of 8.6% over the forecast period.
In recent years, the median age of first-time mother has increased due to late marriages, rising number of women who prioritize their professions over establishing a family, and improved contraceptive procedures are propelling factors for growth of the market. For instance, according to data published by the Australian Institute of Health and Welfare 2021, the average age of first-time mothers in Australia raised from 27.9 years to 31.9 years in 10 years (2009 to 2019). Due to this, the number of women increases who faces the problem to conceive naturally and thereby adopt in-vitro fertilization technique that drives the growth of in-vitro fertilization market.
The technological advancement of fertility techniques such as ICSI for treating infertility to increase fertility rate which is the propelling factor for growth of the market. The availability of genomic diagnostic facilities that allow for the prevention of genetic problem transmission during in vitro fertilization (IVF) is one of a major factors to fuel the growth of the global market. Rise in number of IVF treatments and availability of reimbursement for various IVF treatment are responsible for the acceleration of market.
Due to the outbreak of COVID-19, the Canadian Fertility and Andrology Society and the American Society of Reproductive Medicine in March 2020, restrict the in- person fertility treatments in the United States and Canada. Treatments are resuming in many developing countries, owing to the lack of prohibitions. For instance, Medicover Fertility, an IVF institution in India, in July 2020, announced that it would resume IVF procedures following the initial COVID-19 risk assessment. This resumption of IVF treatment is estimated to drive the market in developing countries over the forecast period.
Global In-Vitro Fertilization Market, by Region Outlook (Revenue, USD Billion, 2021-2027)
North America is estimated to dominate the global in-vitro fertilization market and followed by Europe over the forecast period owing to increasing prevalence of related disorders such as Poly-Cystic Ovarian Syndrome (PCOS). For instance, according to the single care online survey, in October 2020, in United States, among the total patients suffering from infertility, around 20% of patients adopt IVF. For instance, in April 2021, 19 states in North America passed the law for fertility insurance coverage that include IVF coverage, and 11 states had passed fertility preservation laws for iatrogenic (medically induced) infertility. As a result, it is estimated that the rate of treatment will increase, and demand for fertility treatment equipment will rise over the forecast period.
The Global In-Vitro Fertilization Market Segmentation:
Global In-Vitro Fertilization Market, by Products Outlook (Revenue, USD Billion, 2021-2027)
Global In-Vitro Fertilization Market, by Procedure Type Outlook (Revenue, USD Billion, 2021-2027)
Global In-Vitro Fertilization Market, by Donor Type Outlook (Revenue, USD Billion, 2021-2027)
Global In-Vitro Fertilization Market, by End Users Outlook (Revenue, USD Billion, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the in-vitro fertilization market are: