IVF Market

Global IVF Market Size (2022 to 2027)

As per our recent analysis report, the global IVF market size is expected to reach USD 5.89 billion by 2027 from USD 2.76 billion in 2022, growing at a CAGR of 16.4% during the forecast period.

A few of the key insights from this report:

• Based on reagents and media, the cell culture media segment had 39.8% of the global market share in 2021.
• Based on the end-user, the fertility clinics segment was the leader and held 82.4% of the global market share in 2021.
• Based on the region, Europe captured the leading share of the global market in 2021.
• The North American IVF market is anticipated to be worth USD 1.87 billion by 2027.
• The IVF market in the Asia-Pacific region is expected to grow at a CAGR of 18.4% from 2022 to 2027.

The elevation in infertility cases and the evolution of the latest technologies, such as lens-less sperm imaging, are estimated to drive the IVF market in the coming years. According to the American Society for Reproductive Medicine (ASRM), the inability to have a child affects approximately 7.1 million women in the United States or about 12.1% of the reproductive population. Additionally, 27% of couples have more than one factor that leads to infertility. To increase the success rate of in vitro fertilization, researchers have introduced techniques before the IVF procedure. Currently, advanced techniques are used, such as assisted hatching, verification, egg/sperm freezing, percutaneous aspiration of epididymal sperm and testicular sperm extraction (PESA and TESE), mini-IVF, triparental IVF, and genetic diagnosis.

MARKET DRIVERS:

YOY growth in the prevalence of infertility due to lifestyle changes, constant efforts by industry taxpayers, and government initiatives to offer better reimbursement policies propel the global IVF market growth.

Obesity is one of the essential factors of infertility in the population. Fat deposits in a woman's abdomen prevent follicular stimulation, thus producing male hormones. Meanwhile, fat deposits lower testosterone levels in men, leading to a decrease in sperm production. Therefore, the IVF market is estimated to thrive with the elevation in the global obesity rate due to lifestyle changes.

Furthermore, expanding fertility procedures to treat male infertility, such as ICSI, will positively influence the market's growth. The wide availability of genomic testing to prevent the transfer of genetic diseases during IVF will drive market growth in the years to come. In addition, the growing number of IVF has prompted insurers to cover these procedures, leading to competitive prices and thus lowering treatment costs. These factors will promote the growth of the in vitro fertilization (IVF) market globally.

Additionally, the growing rates of infertility in both men and women due to the rising sedentary lifestyles and bad habits like alcoholism, along with unhealthy eating habits and rising pollution levels, are expected to support the expansion of this market. For instance, according to the WHO stats, 48 million couples and 186 million individuals have infertility globally. Furthermore, the growth of the LGBTQ+ community couples is also leading to rising requirements as more gay and lesbian couples opt for IVF procedures using sperm and egg donors and surrogacies. 

MARKET RESTRAINTS:

The elevated risks associated with IVF and ICSI treatment are expected to hinder the IVF market growth.

For instance, according to data published by the Reproductive Science Center, a unique condition called imprint disorders linked with IVF procedures anticipated that the risk of such diseases with IVF treatment was around 2 to 5 for all. Sixteen thousand five hundred births using the IVF technique, while the risk in general cases was 2 in 16,500 normal births. Hence, the potential dangers and congenital disabilities associated with IVF treatment and high-priced IVF treatment are estimated to restrain the market growth during the forecast period.

Impact of COVID-19 on the global IVF market:

Numerous ongoing IVF pregnancies have struggled because of the disturbance caused by the COVID-19 pandemic. As every moment is essential in this procedure, many expectant parents or people planning to begin parenthood through in vitro fertilization (IVF) experience an emotional roller coaster due to this current uncertainty. Even though some clinics have started to operate and hope the situation will improve, the Indian IVF market, a precursor to treatment, could see reverberations of COVID-19 long after the drug's disappearance virus. Moreover, as the pandemic has hit the economy terribly and liquid assets' availability has been drastically reduced, industry experts believe people's ability to pay will become a significant challenge.

REPORT COVERAGE:

This research report on the global IVF market has been segmented and sub-segmented based on the reagents & media, instruments, technology, end-users, and region.

IVF Market - By Reagents and Media:

• Embryo Culture Media
• Cryopreservation Media
• Sperm Processing Media
• Ovum Processing Media

Based on reagents and media, the embryo culture media segment accounted for the largest share of the global IVF market by reagents & media in 2021. The latest advanced technologies aid in R&D activities in developing the culture media, easy availability of funds, and the market players are focusing on supplying necessary equipment to meet the sterility needs.

The cryopreservation media segment is another lucrative segment in the global IVF market and is predicted to register a healthy CAGR during the forecast period. Cryopreservation is the most efficient process of freezing and storing cells leading to increased popularity for the segment. In addition, freezing eggs and sperm help overcome the problems of less fertility with aging and thus provides an option for parents who are not ready for kids yet but are hoping for children in the future. 

IVF Market -By Instruments:

• Imaging Systems
• Sperm Separation Systems
• Ovum Aspiration Pumps
• Incubators
• Micromanipulator Systems
• Cryptosystems
• Other Instruments (Gas Analyzers, Laser Systems, Accessories)

Based on instruments, the imaging systems segment commanded the largest share of the global IVF market by instruments in 2021. This segment dominance is due to the continuous use of imaging systems during IVF procedures to judge the patient's condition. In addition, imaging systems help provide better patient care due to physicians' better understanding of the situation. 

On the other hand, the sperm separation systems segment is expected to grow at the highest CAGR during the forecast period. The sperm separation systems are used in reproductive technology like ART like artificial insemination and IVF services. For example, in March 2018, DxNow, Inc. won the U.S. FDA 510(K) approval for its Zymot ICSI and Zymot Multi-Sperm Separation Devices. 

IVF Market - By Technology:

• Intra-Cytoplasmic Sperm Injection (ICSI)
• Pre-Implantation Genetic Diagnosis (PGD)
• Frozen Embryo Transfer/Replacement (FET/FER)
• Other Technologies

The intracytoplasmic sperm injection segment accounted for the largest share of the global IVF market by technology in 2021. The process has several benefits, like an improved fertilization rate via ICSI during IVF, which can increase the number of fertilized eggs available for transfer or freezing. ICSI can double the likelihood of successful fertilization during standard insemination for couples dealing with male factor infertility (such as IUI)

The frozen embryo transfer/replacement (FET/FER) segment is forecasted to perform well during the forecast period due to its high success rate.

IVF Market - By End Users:

• Fertility and Surgical Centres
• Hospitals and Research Laboratories
• Cryobanks

The fertility & surgical centers segment commanded the largest share of the global IVF market by end-users in 2021. It accounted for a market share of 80.0% in 2020. The rising demand for ART treatments, flourishing demand for fertility clinics, easy accessibility of specialists, and fewer hospital-acquired infections assist in end-users market growth. In addition, the burgeoning number of fertility centers with the growing fertility rates worldwide escalates the IVF market growth during the forecast period.

IVF Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, the European IVF market commanded 37.0% of the global IVF market in 2021. The European market generated revenues of USD 8.21 billion in 2020. The rise in the region is credited to the elevating prevalence of infertility. In addition, the growing success rate of IVF treatment countries such as Spain and Denmark will further contribute to the European market evolution. According to data published by the European Society for Human Reproduction and Embryology (ESHRE), it is reported that the pregnancy rate per treatment in Europe in 2021 was around 33.2%, an elevation of 1.5% per treatment compared to the year above due to the high success rate of IVF and ICSI procedures. In December 2018, the Ontario government announced a USD 55 million fertility program to cover IVF treatment for 6,000 people. Besides, the Singapore government is providing around 78% co-funding for various antiretroviral therapy procedures, such as in vitro fertilization (IVF), intrafallopian gamete transfer (GIFT), and intracytoplasmic sperm injection (ICSI). In January 2015, the Centers for Disease Control and Prevention (CDC) reported that ICSI use had increased from 37.2% in 1998 to about 77.4% in 2015.

In contrast, Asia-Pacific IVF Market is estimated to grow at the highest CAGR of 18.40% during the forecast period. Asia Pacific accounted for the most significant number of IVF cycles performed in 2020 due to the large target population, low cost of treatment compared to developed regions and the availability of advanced technologies. Japan, China, and India have been the main contributors to the region.

The North American IVF market is anticipated to account for a substantial global market share during the forecast period.

The IVF market in Latin America is expected to project a moderate CAGR from 2022 to 2027.

The MEA IVF market is estimated to register a sluggish growth rate during the forecast period.

KEY MARKET PARTICIPANTS:

Some of the notable participants operating in the global IVF market profiled in the report are CooperSurgical, Inc. (U.S.), Vitrolife AB (Sweden), Cook Medical, Inc. (U.S.), Irvine Scientific (U.S.), Thermo Fisher Scientific, Inc. (U.S.), EMD Serono, Inc. (U.S.), Genea Limited (Australia), ESCO Micro Pte. Limited (Singapore), IVFtech ApS (Denmark), and The Baker Company, Inc. (U.S.).

RECENT MARKET DEVELOPMENTS:

• In October 2022, Inception FertilityTM (Inception) announced today that its clinical research team has partnered with top technology companies on four fertility studies that will improve patient experience, advance fertility services, and improve pregnancy outcomes as part of its ongoing mission to lead advancements in reproductive science and medicine. A ground-breaking study conducted by OTO and Inception will examine the effects of stress on the success of IVF cycles. This study will provide a greater understanding of the relationship between stress and fertility, opening the door to potential novel treatments, services, and resources that will enhance the fertility journey and increase pregnancy rates and patient satisfaction.
• In November 2022, with its INVOcell® medical device and the intravaginal culture procedure it allows, INVO Bioscience, Inc., a commercial-stage fertility company, announced financial results for the third quarter that ended September 30, 2022, and gave a business update. $235,321 grew by 484% and 61% sequentially compared to the second quarter of 2022 from $40,303 in the previous year's third quarter. Revenue for the third quarter of 2021 totaled $218,874 with licensing income.
• In October 2022, Several macro variables, including the following, are driving up demand for reproductive treatments: Same-sex couples are seeking services, people are beginning families later, and research suggests that male fertility has been progressively declining. In addition, after two years of research and development, Alife has released new artificial intelligence software to aid fertility clinics in optimizing and supporting clinical judgment throughout crucial IVF process phases.
• In November 2022, Co-op introduced a new leading colleague fertility treatment policy to coincide with the beginning of National Fertility Week. The policy offers flexible, unrestricted paid time off for employees to attend medical appointments while undergoing fertility treatment, including employees utilizing a surrogate, as part of the Co-goal op's to establish a truly inclusive workplace and achieve a fairer world for colleagues. The improved policy, which collaborates with Co-op unions and has the support of Fertility Matters at Work and Surrogacy U.K., offers a variety of flexible support.
• In August 2018, Thomson Medical announced IVF services in China in cooperation with assisted reproduction specialist IVI-RMA.
• In February 2018, In-vitro fertilization-focused machine learning company Univfy raised USD 6 million in Series funding. Univfy developed machine learning technology, which aims to reduce the financial burden on those affected by infertility.