The Global In-Vitro Fertilization (IVF) Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, and Competitive Landscape etc. According to the report, the Global In-Vitro Fertilization Market is estimated to reach $ 3.72 billion by 2021 from $ 1.75 billion in 2016 with a CAGR of 16.4%. The market is segmented based on reagents & media (embryo culture media, cryopreservation media, sperm processing media, & ovum processing media), instruments (imaging systems, sperm separation systems, ovum aspiration pumps, incubators, micromanipulator systems, cryosystems, and other instruments), technology (intra-cytoplasmic sperm injection, pre-implantation genetic diagnosis, frozen embryo transfer/replacement, and other technologies), and end users (fertility & surgical centers, hospitals & research laboratories, and cryobanks). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Growth of in-vitro fertilization (IVF) market is attributed to growing number of delayed pregnancies among women, rising awareness pertaining to infertility consequences, and presence of favorable reimbursement. In addition, increasing technological advancements in in-vitro fertilization procedures (embryoscope & capsule in-vitro fertilization), rising medical tourisms across the major countries, growing gynecological disorders & fertility disorders, increasing focus of clinical research institutes towards the innovation of in-vitro fertilization technologies, and occurrence of lifestyle disorders (obesity & smoking that favor infertility) are further propelling the growth of the global in-vitro fertilization market. However, requirement of high capital & time for the running of in-vitro fertilization procedures, difficulties to maintain the in-vitro fertilization procedures, chances of occurrence multiple pregnancies, presence of ethical issues pertaining to selection of gender population, and unawareness of infertility issues in certain under-developed economies are restraining the growth of the global in-vitro fertilization market.
Europe accounted for the largest market share of 31.3% of global in-vitro fertilization market in 2015, owing to presence of subsidized in-vitro fertilization treatments, rising late stage marriages, growing adoption of in-vitro fertilization babies among population, increasing number of foreign patients, and growing number of fertility tourisms. Asia-Pacific region is estimated to be the fastest growing segment with a CAGR of 18.40% during forecast period 2015-2020. High growth of the market in this region is due to presence of huge number of in-vitro fertilization clinics, growing adoption of in-vitro fertilization procedures, increasing fertility tourisms, and rising government initiatives relating to the development of healthcare infrastructure in certain countries of Asia-Pacific (India, China, & Japan). In addition, rising surrogacy, growing rate of polycystic ovarian syndrome (PCOS), and increasing number of assisted reproductive technologies (ART) in Asian countries (Australia, New Zealand) are further stimulating the growth of in-vitro fertilization market in Asia-Pacific region.
The key players in global in-vitro fertilization market such as, 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.).
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