In Vitro Fertilization (IVF) Market Size to Hit $1036.7 Million by 2028

Facts & Factors

According to Facts and Factors, the Global In Vitro Fertilization (IVF) Market size was valued at around USD 628.50 million in 2021 and is estimated to grow about USD 1,036.7 million by 2028, at a CAGR of approximately 8.7% between 2022 and 2028. The leading players functioning in the report are Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtechApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US, and others.

NEW YORK, United States, Sept. 17, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “In Vitro Fertilization (IVF) Market By Type (Conventional IVF, IVF with ICSI, IVF with Donar Eggs, Others), By Cycle (Fresh Non-donor IVF Cycles, Frozen Non-donor IVF Cycles, Frozen Donor IVF Cycles, Fresh Donor IVF Cycle), By Product (Equipment, Sperm Analyzer Systems, Imaging Systems, Ovum Aspiration Pumps, Micromanipulator Systems, Incubators, Gas Analyzers, Laser Systems, Cryosystems, Sperm Separation Devices, IVF Cabinets, Anti-vibration Tables, Witness Systems, Other Equipment, Reagents & Media, Cryopreservation Media, Embryo Culture Media, Ovum Processing Media, Sperm Processing Media, Accessories), By End User (Fertility Clinics, Hospitals & Surgical Centers, Cryobanks, Research Institutes), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” in its research database.

“The global In Vitro Fertilization (IVF) market was worth around USD 628.50 million in 2021 and is estimated to grow to about USD 1,036.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.7% over the forecast period.”

The report analyzes the in vitro fertilization (IVF) market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging trends & opportunities in the in vitro fertilization (IVF) market.

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IVF Industry Synopsis:

In vitro fertilization (IVF) enables reproduction technology to be applied in real life and helps couples conceive kids that have complications in doing so in a natural manner. Increasing sedentary lifestyles and improper habits have led to an increase in impotency and other fertility issues across the world and hence propelled the demand for in vitro fertilization (IVF) which are advanced fertility clinics capable of treating reproductive issues.

The increasing popularity of in vitro fertilization (IVF), rising availability of in vitro fertilization (IVF) procedures, and increasing healthcare expenditures are expected to be prominent trends driving in vitro fertilization (IVF) market growth through the forecast period. However, the high costs associated with these procedures will have a restraining effect on the in vitro fertilization (IVF) market growth.

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Industry Growth Drivers

Growth in Median Age of First Time Mothers

The increasing evolution of the human population has bought the median age of first-time mothers to a substantially high number owing to the rising number of women preferring late marriages and choosing careers over family planning as opposed to the past trends. Effective use of contraceptives has also played a crucial role in shaping first-time mother’s median age trend and this is expected to majorly drive the in vitro fertilization (IVF) market growth over the forecast period.

Restraints

High Costs of In vitro fertilization (IVF) Procedure

In vitro fertilization (IVF) procedures have been known to be costly across the world and this is the major factor that will hinder the in vitro fertilization (IVF) market potential over the forecast period. Lack of insurance coverage makes this situation worse in countries with healthcare is expensive and irregularities in reimbursements of these procedures also have a hampering effect on the overall in vitro fertilization (IVF) market growth.

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Segmental Insights

The global in vitro fertilization (IVF) market is segregated based on type, cycle, product, end-use, and region.

By End-User, the in vitro fertilization (IVF) market is segmented into fertility clinics, hospitals & surgical centers, cryobanks, and research institutes. The fertility clinics segment will have a bright outlook over the forecast as governments across the world are focusing on establishing these clinics to ensure public health and awareness of fertility to promote birthrate.

The global In Vitro Fertilization (IVF) market is segmented as follows:

By Type

  • Conventional IVF

  • IVF with ICSI

  • IVF with Donar Eggs

  • Others

By Cycle

By Product

  • Equipment

  • Sperm Analyzer Systems

  • Imaging Systems

  • Ovum Aspiration Pumps

  • Micromanipulator Systems

  • Incubators

  • Gas Analyzers

  • Laser Systems

  • Cryosystems

  • Sperm Separation Devices

  • IVF Cabinets

  • Anti-vibration Tables

  • Witness Systems

  • Other Equipment

  • Reagents & Media

  • Cryopreservation Media

  • Embryo Culture Media

  • Ovum Processing Media

  • Sperm Processing Media

  • Accessories

By End-User

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Competitive Landscape

Some of the main competitors dominating the global in vitro fertilization (IVF) market include –

The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), and Gynotec B.V. (Netherlands), among others.

Key Insights from Primary Research:

  • According to the analysis, the In Vitro Fertilization (IVF) market is likely to grow at a CAGR of around 8.7% during 2022-2028.

  • In terms of revenue, the In Vitro Fertilization (IVF) market size was valued at around US$ 628.50 Million in 2021 and is projected to reach US$ 1,036.7 Million by 2028.

  • The fertility clinic segment is anticipated to have a favourable outlook over the projected period.

  • The fresh non-donor segment is anticipated to account for a major market share and is projected to be a dominant segment through the forecast period.

  • In the Asia-Pacific region, the market for in vitro fertilisation (IVF) is expected to witness a dominant outlook during the course of the projected period.

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Regional Insights

Asia Pacific region will be the most lucrative market for in vitro fertilization (IVF) industry over the forecast and this trend is expected to be driven by multiple factors. The rising availability and popularity of in vitro fertilization (IVF) procedures and the increasing preference of couples to adopt such procedures will be the major trends that will propel in vitro fertilization (IVF) market growth in this region over the forecast period. India and China are expected to be at the forefront of the growth curve in this region through 2028. Increasing medical tourism, increasing number of in vitro fertilization (IVF) centers, rising focus on fertility, increasing adoption of reproductive technology, and growing healthcare expenditures are expected to be other prominent trends influencing in vitro fertilization (IVF) market growth over the forecast period.

By Region

  • North America

    • U.S.

    • Canada

    • Rest of North America

  • Europe

    • France

    • UK

    • Spain

    • Germany

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Rest of Asia Pacific

  • The Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Recent Developments

In 2021 – CooperSurgical and Virtus Health announced the launch of a new partnership that is aimed at strengthening their fertility technology and increasing access to unfertile couples across the world.

Report Scope

Report Attribute

Details

Market Size (2021)

USD 628.50 Million

Future Size of Market (2028)

USD 1,036.7 Million

CAGR Growth Rate (%)

8.7% CAGR

Base Year

2021

Forecast Period

2022-2028

Prominent Vendors

The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtechApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), and Gynotec B.V. (Netherlands), among others

Major Segment

By Type, Cycle, Product, End-User, and Region

Key Regions

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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