Increasing demand for assisted reproductive technology (ART) will Capitalize the Global Cryopreservation and Fertilization Media Market: Fact MR Study
Key players are aiming to launch new products with enhanced features such as long-life span and developed efficacy to expand the market.
Fact MR- A Market Research and Competitive Intelligence Provider: Manufactures in the market are producing improved version with life span ranging from six months to one year. As IVF clinics, hospitals, academic research centers are the target end-users of the cryopreservation & fertilization media market, availability of such advanced products will fuel demand, finds Fact MR in a study.
In 2017, According to the Society of Assisted Reproductive Technology, 10,936 women froze their eggs in the U.S. As compared to data analysis of 2009, the number has increased to 23%. Considering this effect, Silicon Valley superiors such as Google and Facebook offered oocyte cryopreservation services as part of benefit plan to their employees. It has created growth opportunities in the cryopreservation & fertilization media market.
The sudden pandemic has created a severe impact on the IVF sector. IVF process needs months of planning and processing. Thus, number of treatment cycles have decreased significantly will drop demand of IVF products.
Cryopreservation is process of freezing eggs, sperms, and embryos to a subzero temperature. It increases the life span of the cells. IVF fertilization media is used in-vitro fertilization process to inseminate and incubate of oocytes.
“Oocyte cryopreservation is useful to treat a woman undergoing chemotherapy or radiation therapy. Oocyte cryopreservation has recently gained popularity in advanced economies is the primary factor boosting growth of market,” said a Fact MR analyst.
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- In 2018, in the U.S., 306,197 ART cycles were performed at the 456 clinics increasing demand in U.S. capitalizing the market.
- East Asian Economies such as China and South Korea has witnessed decreased birth rates and are expected to boost the demand of new products.
- Government in emerging economies taking initiatives that support assisted reproductive technology (ART) treatment.
- Asian countries are promoting incentives and program funding to IVF fertilization.
- Commercialization of the media has created competition which has increased the standards and has implemented it to the clinical practice.
- Increased awareness about the IVF technologies further expected to boost the growth of market.
- High cost of IVF and cryopreservation may restrict market expansion.
- Less awareness of assisted reproductive technology (ART) treatments in developing countries.
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Key players in the cryopreservation & fertilization media market are aiming on product upgradation key strategy. This will help key players to gain progression in increasing market shares. For instance:
- In February 2020, Kitazato produced enhanced version of Vitrification and thawing media. It has 3 months longer life span than previous version.
- In October 2019, FUJIFLIM Irvine Scientific attained approval for assisted reproductive technology (ART) treatments expanding company values in the European regions.
Other key players operating in the market are Cooper Surgical, Vitrolife AB, Cook Medical, FUJIFILM Irvine scientific, Kitazato corporation, Genea Biomedx, GYNEMED GmbH & Co.,KG (A Hamilton Thorne Company), FERTIPRO NV, Nidacon International AB, Microm Ltd.
More Insights on the Global Cryopreservation and Fertilization Media Market:
Fact MR, in its new offering, brings to fore an unbiased analysis and global industry analysis of the global cryopreservation and fertilization media market presenting historical demand data (2016-2020) and forecast statistics for the period (2021-2031). The study divulges compelling insights on the cryopreservation and fertilization media market with a detailed segmentation based on product type (cryopreservation media and fertilization Media) based on media type (single Step Media and sequential/Two-step media) based on end user (In-Vitro fertility centers, hospitals, and academic research institutes), based on region (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East, and Africa)
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