Global in-vitro fertilization market is projected to witness a CAGR of 7.52% during the forecast period 2024-2031, growing from USD 29.05 billion in 2023 to USD 51.89 billion in 2031. The market demand for in-vitro fertilization is anticipated to thrive drastically in the forecast years due to rising awareness and the growing interest of investors and market players.
In-vitro fertilization is one of the types of assisted reproductive technology and is the most common approach made in the care of patients with difficulty in conceiving. This is a procedure in which eggs are removed from a woman’s ovary and then combined with sperm outside the body to form embryos. The embryos are grown in the laboratory for a few days and then either placed in a woman’s uterus or cryopreserved (frozen) for future use, which is also called in-vitro fertilization.
Infertility could be attributable to various lifestyle factors, including smoking, heavy alcohol consumption, and obesity. Infertility is a global health issue affecting millions of people of reproductive age worldwide. For instance, according to a report published by the World Health Organization (WHO) in April 2023, around 17.5% of the adult population – roughly 1 in 6 worldwide suffer from infertility problems. The new estimates indicate that limited regional difference exists in the prevalence of infertility. The rates were quite balanced among high-, middle- and low-income countries, making it a major burden for healthcare across the globe. The report further stated that the lifetime prevalence of infertility was at 17.8% among high-income countries, and among low- and middle-income countries, was at 16.5%. For instance, in May 2023, Artificial Intelligence In-vitro Fertilization (AIVF) Ltd., a developer of AI-based solutions for in-vitro fertilization clinics, and Genea Biomedx Pty Ltd., a global provider of medical devices for IVF laboratories, announced the launch of their integrated system. The new consolidated solution is aimed at providing safe personalized, optimized IVF care to a mass population.
Increased Prevalence of Infertility Rate to Support the Growth of IVF Market
Increased prevalence of infertility is one of the major factors which led to the growth of the market for in-vitro fertilization. Various socioeconomic factors, like late marriage and childbirth, and lifestyle factors, like bad diet, obesity, and stress, have led to higher rates of infertility across the world. Moreover, certain medical conditions, like polycystic ovary syndrome, endometriosis, and male infertility, are also becoming increasingly perceived, with these factors often complicating conception. Advanced medical technology, fertility options awareness, and the changing nature of social values toward assisted reproduction will only augment these increasing demands for in-vitro fertilization services. People and couples put more emphasis on planning for family-building and finding necessary fertility solutions. Thus, to cater to the increasing demand, fertility clinics are offering a wide portfolio of services and investing in various advanced technologies to ensure higher success rates, such as genetic screening and enhanced embryo culture techniques. This increased demand fuels growth for the IVF market. For instance, in August 2024, Fresenius SE & Co. KGaA’s U.S.-based subsidiary – Fresenius Kabi USA launched U.S. Food and Drug Administration (FDA) approved Cetrorelix Acetate injection kit. Cetrorelix Acetate injection is a prescription medicine for the hormonal treatment of ovarian stimulation.
Awareness and Advancements in Technology to Drive IVF Market Growth
Awareness and technological advances are vital drivers in the IVF market. The increase in public knowledge regarding infertility and the availability of treatment options has reflected greater acceptance of assisted reproductive technologies. Advances in technology, including better techniques for embryo culture, preimplantation genetic testing, and improvements in cryopreservation, have greatly increased the success rates of IVF treatment. This also makes the procedures more effective and can increase the number of options available to a patient, including genetic screening and the possibility of freezing eggs or embryos for future use. Fertility clinics increasingly embrace high-tech facilities to attract and retain patients and further foster market growth. With continued spreading awareness and technological advancements, the IVF market will expand steadily in the future. For instance, in December 2023, the U.S. FDA cleared the first over-the-counter artificial insemination kit manufactured by Mosie Inc. The approval of the artificial insemination kit is expected to drive the market by making fertility treatments more accessible, affordable, and inclusive.
Culture Media Segment to Dominate the In-Vitro Fertilization Market
The culture media segment is forecast to dominate the market for in-vitro fertilization as it represents a crucial component in support of embryonic development and significant improvement of success rates. The culture media provides the minimum amount of nutrients and optimal conditions for embryos to be cultured outside the human body, making it an indispensable part of the IVF process. Advanced formulation techniques have ensured that these media work well and are tailored to different embryo development stages. However, the increasing impetus around personalized medicine and precision reproductive care requires demand for well-designed culture media for each patient that will ensure superior results. Accordingly, with increasing fertility treatments around the world and increasing cycles of IVF, the demand for high-quality culture media grows further.
Consequently, with unrelenting research and development, the growth in the culture media market is foreseen to be sturdy, which places it in a great position to fuel general growth in the IVF market. For instance, in July 2022, FUJIFILM Irvine Scientific, which develops and manufactures cell culture media and assisted reproductive technologies, announced the launch of its Heavy Oil for Embryo Culture, a sterile mineral oil that comes with optimal weight viscosity for the perfect balance of ease of use and protection.
North America Dominates In-Vitro Fertilization Market
North America is leading the IVF market because of advanced medical technology, higher fertility treatment awareness, and strong healthcare infrastructure. It has a huge number of fertility clinics with specialized staff and well-equipped professionals. According to clinic-specific assisted reproductive technologies (ART) data released by the Society for Assisted Reproductive Technology (SART). In 2022, IVF babies increased by 2.5%, from 89,208 in 2021 to 91,771 in 2022. That represents 2.5% of all births in the U.S. and translates to successful ART cycles. Increased reports of cycle numbers point to the continued steady growth in demand for fertility services, even hostile legislation and threats of political interference. The total number of IVF cycles performed at the 368-member clinics of the Society for Assisted Reproductive Technology (SART) has grown by over 6% from 2021, from 368,502 in 2021 to 389,993 in 2022.
For instance, in February 2024, Femasys Inc., a biomedical company, received approval from the FDA for FemaSeed, a First-Line Infertility Treatment Option. Femasys is preparing for the commercial launch of FemaSeed in the U.S. There is a rise in the incidence of infertility due to late pregnancies and lifestyle factors and increased demand for assisted reproductive technology. Available treatment options, favorable policies, and certain insurance coverage contribute to more promising prospects for the growth of this market. Moreover, further research and development in applied reproductive technologies, including embryo culture techniques and genetic screening, keeps North America on top of the IVF industry. As societal attitudes toward fertility treatment increasingly change, such factors as the growing acceptance of fertility treatments show that North America will continue to dominate the market for IVF for the foreseeable future.
Future Market Scenario (2024-2031F)
The future market scenario of the in-vitro fertilization (IVF) market is poised for significant growth, driven by increased awareness of reproductive health, technological advancement, greater communication around reproductive health issues, and better social attitudes. With rising acceptance and a growing ability to access fertility treatments, many couples are looking toward IVF as a viable option for building families. The others include the improved success rate through technological advancement in embryo selection, advanced genetic screening, and even better culture media, therefore leading to tailoring treatment plans to improve further patient experiences, where focus is increasingly placed on personalized medicine. Another area that continues to expand is fertility preservation services, specifically egg and sperm freezing, which are adopted by younger demographics. For instance, in April 2023, Cryoport, Inc. signed a 3-year agreement with Boston IVF, LLC, a pioneer in reproductive healthcare and innovative research and one of the world’s most experienced fertility treatment providers.
Report Scope
“In-Vitro Fertilization Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global in vitro fertilization market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
click :https://www.marketsandata.com/industry-reports/in-vitro-fertilization-market
About Us:
Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.
Contact
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5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com
Global in-vitro fertilization market is projected to witness a CAGR of 7.52% during the forecast period 2024-2031, growing from USD 29.05 billion in 2023 to USD 51.89 billion in 2031. The market demand for in-vitro fertilization is anticipated to thrive drastically in the forecast years due to rising awareness and the growing interest of investors and market players.
In-vitro fertilization is one of the types of assisted reproductive technology and is the most common approach made in the care of patients with difficulty in conceiving. This is a procedure in which eggs are removed from a woman’s ovary and then combined with sperm outside the body to form embryos. The embryos are grown in the laboratory for a few days and then either placed in a woman’s uterus or cryopreserved (frozen) for future use, which is also called in-vitro fertilization.
Infertility could be attributable to various lifestyle factors, including smoking, heavy alcohol consumption, and obesity. Infertility is a global health issue affecting millions of people of reproductive age worldwide. For instance, according to a report published by the World Health Organization (WHO) in April 2023, around 17.5% of the adult population – roughly 1 in 6 worldwide suffer from infertility problems. The new estimates indicate that limited regional difference exists in the prevalence of infertility. The rates were quite balanced among high-, middle- and low-income countries, making it a major burden for healthcare across the globe. The report further stated that the lifetime prevalence of infertility was at 17.8% among high-income countries, and among low- and middle-income countries, was at 16.5%. For instance, in May 2023, Artificial Intelligence In-vitro Fertilization (AIVF) Ltd., a developer of AI-based solutions for in-vitro fertilization clinics, and Genea Biomedx Pty Ltd., a global provider of medical devices for IVF laboratories, announced the launch of their integrated system. The new consolidated solution is aimed at providing safe personalized, optimized IVF care to a mass population.
Increased Prevalence of Infertility Rate to Support the Growth of IVF Market
Increased prevalence of infertility is one of the major factors which led to the growth of the market for in-vitro fertilization. Various socioeconomic factors, like late marriage and childbirth, and lifestyle factors, like bad diet, obesity, and stress, have led to higher rates of infertility across the world. Moreover, certain medical conditions, like polycystic ovary syndrome, endometriosis, and male infertility, are also becoming increasingly perceived, with these factors often complicating conception. Advanced medical technology, fertility options awareness, and the changing nature of social values toward assisted reproduction will only augment these increasing demands for in-vitro fertilization services. People and couples put more emphasis on planning for family-building and finding necessary fertility solutions. Thus, to cater to the increasing demand, fertility clinics are offering a wide portfolio of services and investing in various advanced technologies to ensure higher success rates, such as genetic screening and enhanced embryo culture techniques. This increased demand fuels growth for the IVF market. For instance, in August 2024, Fresenius SE & Co. KGaA’s U.S.-based subsidiary – Fresenius Kabi USA launched U.S. Food and Drug Administration (FDA) approved Cetrorelix Acetate injection kit. Cetrorelix Acetate injection is a prescription medicine for the hormonal treatment of ovarian stimulation.
Awareness and Advancements in Technology to Drive IVF Market Growth
Awareness and technological advances are vital drivers in the IVF market. The increase in public knowledge regarding infertility and the availability of treatment options has reflected greater acceptance of assisted reproductive technologies. Advances in technology, including better techniques for embryo culture, preimplantation genetic testing, and improvements in cryopreservation, have greatly increased the success rates of IVF treatment. This also makes the procedures more effective and can increase the number of options available to a patient, including genetic screening and the possibility of freezing eggs or embryos for future use. Fertility clinics increasingly embrace high-tech facilities to attract and retain patients and further foster market growth. With continued spreading awareness and technological advancements, the IVF market will expand steadily in the future. For instance, in December 2023, the U.S. FDA cleared the first over-the-counter artificial insemination kit manufactured by Mosie Inc. The approval of the artificial insemination kit is expected to drive the market by making fertility treatments more accessible, affordable, and inclusive.
Culture Media Segment to Dominate the In-Vitro Fertilization Market
The culture media segment is forecast to dominate the market for in-vitro fertilization as it represents a crucial component in support of embryonic development and significant improvement of success rates. The culture media provides the minimum amount of nutrients and optimal conditions for embryos to be cultured outside the human body, making it an indispensable part of the IVF process. Advanced formulation techniques have ensured that these media work well and are tailored to different embryo development stages. However, the increasing impetus around personalized medicine and precision reproductive care requires demand for well-designed culture media for each patient that will ensure superior results. Accordingly, with increasing fertility treatments around the world and increasing cycles of IVF, the demand for high-quality culture media grows further.
Consequently, with unrelenting research and development, the growth in the culture media market is foreseen to be sturdy, which places it in a great position to fuel general growth in the IVF market. For instance, in July 2022, FUJIFILM Irvine Scientific, which develops and manufactures cell culture media and assisted reproductive technologies, announced the launch of its Heavy Oil for Embryo Culture, a sterile mineral oil that comes with optimal weight viscosity for the perfect balance of ease of use and protection.
North America Dominates In-Vitro Fertilization Market
North America is leading the IVF market because of advanced medical technology, higher fertility treatment awareness, and strong healthcare infrastructure. It has a huge number of fertility clinics with specialized staff and well-equipped professionals. According to clinic-specific assisted reproductive technologies (ART) data released by the Society for Assisted Reproductive Technology (SART). In 2022, IVF babies increased by 2.5%, from 89,208 in 2021 to 91,771 in 2022. That represents 2.5% of all births in the U.S. and translates to successful ART cycles. Increased reports of cycle numbers point to the continued steady growth in demand for fertility services, even hostile legislation and threats of political interference. The total number of IVF cycles performed at the 368-member clinics of the Society for Assisted Reproductive Technology (SART) has grown by over 6% from 2021, from 368,502 in 2021 to 389,993 in 2022.
For instance, in February 2024, Femasys Inc., a biomedical company, received approval from the FDA for FemaSeed, a First-Line Infertility Treatment Option. Femasys is preparing for the commercial launch of FemaSeed in the U.S. There is a rise in the incidence of infertility due to late pregnancies and lifestyle factors and increased demand for assisted reproductive technology. Available treatment options, favorable policies, and certain insurance coverage contribute to more promising prospects for the growth of this market. Moreover, further research and development in applied reproductive technologies, including embryo culture techniques and genetic screening, keeps North America on top of the IVF industry. As societal attitudes toward fertility treatment increasingly change, such factors as the growing acceptance of fertility treatments show that North America will continue to dominate the market for IVF for the foreseeable future.
Future Market Scenario (2024-2031F)
The future market scenario of the in-vitro fertilization (IVF) market is poised for significant growth, driven by increased awareness of reproductive health, technological advancement, greater communication around reproductive health issues, and better social attitudes. With rising acceptance and a growing ability to access fertility treatments, many couples are looking toward IVF as a viable option for building families. The others include the improved success rate through technological advancement in embryo selection, advanced genetic screening, and even better culture media, therefore leading to tailoring treatment plans to improve further patient experiences, where focus is increasingly placed on personalized medicine. Another area that continues to expand is fertility preservation services, specifically egg and sperm freezing, which are adopted by younger demographics. For instance, in April 2023, Cryoport, Inc. signed a 3-year agreement with Boston IVF, LLC, a pioneer in reproductive healthcare and innovative research and one of the world’s most experienced fertility treatment providers.
Report Scope
“In-Vitro Fertilization Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global in vitro fertilization market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
click :https://www.marketsandata.com/industry-reports/in-vitro-fertilization-market
About Us:
Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com