The global in-vitro fertilization services market forecast will be driven by supportive government initiatives aimed at providing effective assisted reproductive solutions.
The global in-vitro fertilization services market forecast will be driven by supportive government initiatives aimed at providing effective assisted reproductive solutions. As per WHO, nearly 48 million couples and 186 million individuals suffer from infertility globally.
Rising incidences of infertility among both males and females will boost the demand for IVF services. The high infertility rate can be mainly linked with genetic defects, deficiency disorders, and an increasing rate of sexually transmitted diseases.
According to a Global Market Insights, Inc., report, in-vitro fertilization services market size will surpass US$17 billion by 2025. Explained below are some of the key factors driving the demand for assisted reproductive technologies.
Emergence of novel IVF solutions backed by government funding
Extensive funding programs and initiatives have been undertaken by governments to encourage the development of advanced fertilization techniques. For example, Ontario Health Minister had announced an increment of US$50 million in the annual funding for IVF in October 2015.
Similarly, the Singapore government in 2018 had announced 75% co-funding for numerous assisted reproductive procedures such as gamete intra-fallopian transfer, intracytoplasmic sperm injection, and in-vitro fertilization. Similar initiatives will lead to the development of novel IVF technologies and boost their adoption among consumers.
Growing adoption of IVF services to aid in pregnancy
In terms of the procedure, the in-vitro fertilization segment is expected to witness a significant growth rate of 7.8% CAGR up to 2025. The growth can be attributed to the low cost and high success rate of IVF, which helps in achieving a successful pregnancy and a healthy child.
The fertilization technique also helps couples who are facing problems such as old age, premature ovarian failure, male infertility, blocked tubes, and others. On account of these advantages, a large number of couples are opting for IVF procedure.
The adoption rate of IVF is considerably higher among people aged between 35 and 39 years. As per the American Society for Reproductive Medicine, the chances of getting pregnant are only 20% among women who are between the age group 35 and 39.
To access sample pages of this report titled, “In-vitro Fertilization Services Market Size By Procedure (In-vitro Fertilization, Intracytoplasmic Sperm Injection), By Age Group (Below 34, 35-39, 40-42, 43 and Above), By End-use (Hospitals, Fertility Centers, Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
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Availability of advanced IVF technologies at fertility centers
High preference for fertility centers among patients is attributed to the availability of advanced facilities and low risk of infection as compared to hospitals. With the presence of specialized medical practitioners and sophisticated medical equipment, the high consumer inclination towards fertility clinics will bolster in-vitro fertilization services market outlook.
Notably, the fertility center end-use segment in 2018 reached US$4.6 billion in terms of revenue and is estimated to grow considerably in the forthcoming years.
Rising cases of infertilities in India and the U.S.
U.S. in-vitro fertilization industry will experience a growth rate of 4.1% CAGR up to 2025, driven by the increasing infertility rate in the country. The Centers for Disease Control and Prevention had reported that nearly 6.1 million women in the age group of 15 to 44 years suffer from infertility. These trends will certainly augment IVF services business growth in the U.S.
India in-vitro fertilization services market size is projected to exceed US$1.4 billion by 2025. As per the Indian Society of Assisted Reproduction, nearly 10 to 14% of the population in India is suffering from infertility. The growing number of infertilities and an increasing awareness about different IVF techniques would drive the regional in-vitro fertilization services market trends.
Leading companies providing IVF services globally include Bourn Hall Fertility Clinic, Bangkok IVF Center, AVA Clinic Scanfert, Ovation Fertility, and IVIRMA Global, among others. These firms are emphasizing on acquisition, business merger, and collaboration strategies to consolidate their market presence.
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