In Vitro Fertilization Market Size Will Reach USD 36.51 Billion in 2028 | Increase in Incidence of Male and Female Infertility and Growing Number of Women in Workforce will Drive Industry Growth

The global In Vitro Fertilization (IVF) market size was USD 18.08 Billion in 2020 and is expected to reach USD 36.51 Billion at a CAGR of 9.1% in 2028, according to latest analysis by Emergen Research. The high success rate of IVF procedures and the growing awareness about fertility treatments are the major factors driving the growth of the In Vitro Fertilization market. According to the National Infertility Association, in the United States, around 10% of reproductive-aged women suffer from infertility. Moreover, according to the Centers for Disease Control and Prevention (CDC), in 2016, around 6% of married women aged 15 to 44 years in the U.S. were unable to get pregnant after one year of unprotected sex. Such factors are anticipated to fuel the demand for In Vitro Fertilization procedures over the forecast period.

In addition, the rising number of gynecological disorders and the growing number of working women are also anticipated to contribute to the market growth over the forecast period. According to the World Health Organization (WHO), in 2018, around 322 million women globally were suffering from depression. Moreover, according to the National Institutes of Health (NIH), in 2016, around 16 million American women were diagnosed with clinical depression. Such factors are expected to create a positive impact on the market growth over the forecast period.

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However, the high cost of In Vitro Fertilization procedures is anticipated to restraint the market growth over the forecast period. According to Resolve: The National Infertility Association, in the U.S., a single IVF cycle costs around USD 12,000 to USD 15,000. Moreover, the multiple IVF cycles may cost up to USD 50,000. Such high costs are anticipated to hamper the market growth over the forecast period.

In vitro fertilization (IVF) is a process by which an egg is fertilized by sperm outside the body, in vitro. The process involves monitoring and stimulating a woman’s ovulatory process, removing an ovum or ova (egg or eggs) from the woman’s ovaries and letting sperm fertilize them in a liquid in a laboratory. After the fertilized egg (zygote) undergoes embryo culture for 2–6 days, it is implanted in the same or another woman’s uterus, in those cases where the woman has a medical indication to avoid pregnancy.

In vitro fertilization is used to overcome female infertility when other methods of assisted reproductive technology have failed. IVF may also be used when sperm cannot penetrate the egg or when there is a genetic abnormality in the sperm or eggs. When used to overcome female infertility, three main methods are currently in use:

Conventional IVF where a woman is given ovulation-stimulating drugs that stimulate the development of multiple follicles, each containing an egg. The eggs are then harvested and combined with sperm in the laboratory.

Intracytoplasmic sperm injection (ICSI) where a single sperm is injected into an egg in the laboratory.

Intracytoplasmic morphologically selected sperm injection (IMSI), a variation of ICSI that uses a high-powered microscope to select the most normal appearing sperm for injection.

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Some Key Highlights from the Report

• Some major players in the market include Vitrolife AB, CooperSurgical, Inc., Thermo Fisher Scientific Inc., The Baker Company, Inc., Kitazato Corporation, Cook Medical, Inc., Esco Micro Pte. Ltd., OvaScience, Boston IVF, and EMD Serono Inc.
• In August 2021, Merck Specialties Pvt ltd., a subsidiary of Merck KGaA acquired Vitrolife AB, a Sweden based company that provides products and solutions for in vitro fertilization (IVF). The acquisition was made to expand the product portfolio of Merck in IVF market. With this acquisition, Merck will get access to new cell culture media products and equipment which will help in the development of new IVF treatments.
• The Reagent segment is expected to account for largest revenue share over the forecast period owing to the rising number of IVF cycles performed across the globe and rising government initiatives in the field of fertility treatment. According to The American Society for Reproductive Medicine (ASRM), in 2018, 1,096,861 IVF cycles were performed across the globe which is expected to grow at a CAGR of more than 5% over the forecast period.
• The instruments segment is expected to register highest growth over the forecast period due to the rising adoption of technologically advanced IVF systems and instruments. According to The American Society for Reproductive Medicine (ASRM), in 2018, around 227,381 IVF cycles were performed using latest technology which is expected to grow at a CAGR of more than 7% over the forecast period.
• The culture media segment is expected to account for largest revenue share over the forecast period owing to the growing demand for culture media in IVF cycles. Culture media is used to support embryo development during in vitro fertilization.
• The hospitals segment is expected to account for largest revenue share over the forecast period owing to the rising number of IVF cycles performed at hospitals and government initiatives to promote fertility treatment at hospitals. According to The American Society for Reproductive Medicine (ASRM), in 2018, around 73% of IVF cycles were performed at hospitals.
• The Frozen non-donor segment is expected to account for largest revenue share over the forecast period owing to the increasing demand for frozen eggs among infertile couples. According to The National Infertility Association, in 2019, around 20% of women used frozen eggs for infertility treatment.
• The North America in vitro fertilization market is expected to account for largest revenue share over the forecast period owing to the rising prevalence of infertility and favorable government reimbursement policies. According to The National Infertility Association, in 2017, around 10% of women aged between 15-44 years were affected by infertility in the U.S. which is expected to grow at a CAGR of around 3% over the forecast period.

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Emergen Research has segmented the global In Vitro Fertilization (IVF) market on the basis of procedure, product, end-use, and region:

Procedure Outlook (Revenue, USD Billion; 2018-2028)

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

Product Outlook (Revenue, USD Billion; 2018-2028)

• Reagents
  1. Cryopreservation media
  2. Ovum processing media
  3. Embryo culture media
  4. Sperm processing media
• Equipment
  1. Sperm separation system
  2. Imaging system
  3. Cabinet
  4. Incubators
  5. Ovum aspiration pump
  6. Micro manipulation system
  7. Gas analyzer
  8. Accessories
  9. Anti-vibration tables
  10. Laser system
  11. Cryosystems
  12. Witness system

End-Use Outlook (Revenue, USD Billion; 2018-2028)

• Hospitals and Research Laboratories
• Fertility Clinics and Surgical Centers
• Cryobanks

Regional Outlook (Revenue, USD Billion; 2018–2028)

• North America
  1. U.S.
  2. Canada
  3. Mexico
• Europe
  1. Germany
  2. U.K.
  3. France
  4. Spain
  5. BENELUX
  6. Rest of Europe
• Asia Pacific
  1. China
  2. India
  3. Japan
  4. South Korea
  5. Rest of APAC
• Latin America
  1. Brazil
  2. Rest of LATAM
• Middle East & Africa
  1. Saudi Arabia
  2. UAE
  3. Israel
  4. Rest Of MEA

 

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