In Vitro Fertilization Market by Product (Equipment, Reagent, Accessories), Equipment (Imaging, Incubator, Microscope, Micromanipulator), Procedure (Conventional, ICSI, donor), Cycle (Fresh, Frozen), End-user (Hospital, Clinic) - Global Forecast to 2029
Market Growth Outlook Summary
The global in vitro fertilization market growth forecasted to transform from $949 million in 2024 to $1,650 million by 2029, driven by a CAGR of 11.7%. Key drivers include rising infertility rates, advanced median age of women in childbearing years, increased funding and research activities, and improved techniques in IVF treatments globally. On the other hand, high costs and strict regulatory policies might put a damper on market growth. Despite all these factors, continuous innovation in health technology shall further fuel demand for IVF treatment for quite a long period. Increased affluence and consequent economic growth, along with better healthcare infrastructure across developing countries, place IVF services within reach of more couples. Aside from these, there is the increasing trend of delayed parenthood because of lifestyle and career priorities.
In Vitro Fertilization Market Trends
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In vitro fertilization Market: Market Dynamics
Driver: Growth in the median age at which women become pregnant
The median rising age at which women choose to start pregnancies greatly influences assisted reproductive technologies such as in vitro fertilization. The more a woman delays childbearing until later in life, the trouble she may have with fertility because of natural declines in reproductive function. IVF, in which eggs are fertilized outside the body before implantation into the uterus, becomes of increased relevance for older women desiring conception. Most women of advanced maternal age often have diminished ovarian reserve and poor quality of eggs; many of them resort to IVF to get pregnant. This trend only testifies to how extremely instrumental IVF has been in the extension of fertility options and realization of conception for women affected by age-related reproductive challenges.
Restraint: Possible risks associated with treatment through IVF
Patients should be made aware of associated risks with the treatment. Relating to OHSS, meaning that hormone injections for hyper-stimulation of the eggs in the ovaries could be swollen and ache, there is also an increased risk of multiple pregnancies since IVF typically involves the transfer of multiple embryos to increase the rates of success. These include risks for both mother and babies of raised rates, risks of ectopic pregnancy, and miscarriage. On the other hand, complications in the form of bleeding, infection, or injury to surrounding structures may be associated with the process of egg retrieval. Despite these risks, IVF is an effective option in wide application for couples suffering from infertility, in which careful monitoring and medical management are carried out to enable the minimization of probable complications
Opportunity: Opportunities for rise of IVF in developing nations
Growth opportunities in IVF treatment within developing countries are immense and varied. Since these countries are emerging towards technological and economic development, the demand for assisted reproductive technologies is increasing due to infertility problems. IVF clinics can use the improved health infrastructure and increased disposable income among the middle class to their advantage in providing more access to fertility treatments. There is a better probability that local expertise and treatment options will be further enhanced by international experts and technology providers. Evolving regulatory frameworks support the safe and ethical practice of IVF, stimulating investment and innovation in the sector. Such advancements in health outcomes not only improve health outcomes but also stimulate economic growth by creating jobs, attracting medical tourism, and further cultivating a supportive environment for biomedical research and development.
Challenge: Decreased effectiveness of fertility treatments in women of advanced age
Success rates for IVF treatments tend to decrease at advancing ages in women, usually after their mid-30s into their 40s. When a woman ages, her ovarian reserve will decrease, and thus, fewer numbers of viable eggs are made available for fertilization. This downward trend in both the number and quality of the eggs undoubtedly impacts the success rates of the IVF procedures. Older women are also more likely to have chromosomal abnormalities in the embryos, thereby lowering implantation rates and increasing miscarriage risks. Furthermore, advanced maternal age may increase the risk of side effects such as OHSS during the IVF process. Despite these, the scope for IVF is still paramount for older women aspiring to get pregnant and often needs more personalized modes of treatment and excellent medical care to increase the chances of successful pregnancy.,
In Vitro Fertilization Market Ecosystem
Major companies in this market include well-established and financially stable suppliers of In vitro fertilization. Prominent companies in this market include CooperSurgical inc.(US) Cook Medical Inc.(US) ,Vitrolife(Sweden) Thermo fisher scientific(US) ,Hamilton thorne ltd.(US) ,Esco micro pte. Ltd.(Singapore), Genea biomedx, (Australia), among several others.
IVF Equipemnts segment to register largest market share of the in vitro fertilization industry in the year 2023.
Based on the product, the in vitro fertilization market is segmented into: Imaging systems, Laser systems, Micromanipulators, Gas analyzers, incubators, cryopreservation systems, anti-vibration tables and others. The IVF Equipments segment is projected to register the largest market share during the forecast period of 2024-2029. The Equipment segment is further segmented into incubators, micromanipulators, microscopes, oosight imaging, and others. Demand for IVF drivers is heterogeneous and powerful. There has been a change in socio-economic norms, such as the trend of delaying parenthood for reasons of career and financial pursuit, leading to more couples seeking fertility treatment at an older age. Additionally, a growing recognition and acceptance of infertility as a medical issue, which reduced stigma and encouraged people to try various options like IVF.
Fertility clinics & IVF centres segment of the in vitro fertilization industry is the highest market rate end-user segment in the forecasted year 2024-2029.
The fertility clinics & IVF centres end user segment registers highest market rate in the forecasted year 2024-2029. This is the hub of IVF practice, impelled by a number of critical factors: hospitals and fertility clinics. These institutions offer specialized infrastructure and expertise required for the complex procedures of hormonal stimulation, egg retrieval, fertilization, and embryo transfer in IVF. Controlled environments are provided by them, essential for monitoring and optimizing each step involved in the process of IVF. Besides, hospitals and clinics upgrade themselves with the latest technology and equipment that maximize the efficiency of IVF treatment and their results line.
Asia-Pacific is expected to be the highest CAGR during the forecast period in the in vitro fertilization industry.
The APAC in vitro fertilization market has huge potential for growth. It is powered by an aging population and the increased availability of advanced equipment developed on account of growing demand within the APAC countries, such as microscopes, incubators, and gas analyzers. Moreover, APAC is also an upcoming hub of medical tourism, with many patients from around the world going to this region for better healthcare facilities and advanced in vitro fertilization treatments. Demographic changes, economic growth, and technological advances further strengthen the regional leadership in the market.
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As of 2022, prominent players in the market are CooperSurgical inc. (US), Vitrolife (Sweden), Cook Medical Inc. (US), Hamilton thorne ltd. (US), Thermo fisher scientific (US), Fujifilm irvine scientific (Japan), Nikon corporation (Japan), Esco micro pte. Ltd. (Singapore), Olympus (Japan), Kitazato corporation (Japan), Corning incorporated (US), Carl Zeiss AG (Germany), Fertipro NV (Belgium), Eppendorf (Europe), among several others.
Scope of the In Vitro Fertilization Industry:
|
Report Metric |
Details |
|
Market Revenue in 2024 |
$949 million |
|
Projected Revenue by 2029 |
$1,650 million |
|
Revenue Rate |
Poised to Grow at a CAGR of 11.7% |
|
Market Driver |
Growth in the median age at which women become pregnant |
|
Market Opportunity |
Opportunities for rise of IVF in developing nations |
This report has segmented the in vitro fertilization market to forecast revenue and analyze trends in each of the following submarkets:
By Product
-
EQUIPMENTS
- Imaging systems
- Sperm separation systems
- Ovum Aspiration Pumps
- Micromanipulator systems
- Gas Analyzers
- Laser systems
- Cryosystems
- Cabinets
- Anti-Vibration Tables
- Witness Systems
- Incubators
- Accessories
-
REAGENTS & MEDIA
- Embryo culture media
- Cryopreservation media
- Sperm processing media
- Ovum processing media
By Type of Cycle
- Fresh non-donor
- Frozen non-donor
- Frozen donor
- Fresh donor
By Procedure
- Conventional in Vitro fertilization
- In Vitro fertilization with icsi
- In Vitro fertilization with donor eggs
- Mini in Vitro fertilization
- Others
By End User
- Fertility clinics & IVF centers
- Hospitals & surgical centers
- Research institutes
- Cryobanks
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
-
Latin America
- Brazil
- Mexico
-
MEA
- GCC Countries
- Rest of Middle East & Africa
- Middle East & Africa
Recent Developments of In Vitro Fertilization Industry:
- In 2023, Hamilton Thorne Nederland BV completed the acquisition of Gynetics MP NV and Gynetics S, BV, expanding its operations into more profitable dealings within the mature European ART market.
- In 2023, Esco acquired CMT Materials, LLC and its affiliate Engineered Syntactic Systems, LLC, thereby including the critical equipment for the development and production of materials in order to further enhance the basket of products offered by Esco.
- In 2023, Vitrolife Group acquired the distribution operations of medical devices in Spain and Portugal. The Company expects this acquisition to increase the gross margin as it will help the Company retain full control over the pricing to end customers.
Frequently Asked Questions (FAQ):
What will be the addressable market value of the global In vitro fertilization market within five years?
The global in vitro fertilization market is projected to reach USD 1,650 million by 2029 from USD 949 million in 2024, at a CAGR of 11.7% during 2024-2029.
Which of the following product type segments has the highest potential for growth in the In vitro fertilization market?
The segment of products, that comprises equipment for IVF, is expected to exhibit the maximum growth rate. .
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In this research, the utilization of both primary and secondary sources was done to a great extent. This included studying the factors affecting the industry to find out the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and strategies by key players.
Secondary Research
The secondary research process involves methods using directories, databases such as D&B Hoovers, Bloomberg Businessweek, Factiva, white papers, annual reports, company filings, investor presentations, and SEC filings, and collation of the database of industry leaders. This would help in fleshing out basic information on key players and market segmentation based upon the trends of the industry at various levels, major developments in the market, and technological perspectives pertaining to the in vitro fertilization market.
Primary Research
Primary research for this report featured interviews with a cross-section of sources from both the supply and demand sides to generate qualitative and quantitative data. On the supply side, there were primary sources from industries represented by CEOs, vice presidents, marketing and sales directors, regional sales managers, technology and innovation directors, and other key executives from leading companies and organizations in product therapy markets. Primary sources on the demand side included but were not limited to: embryologists, clinicians, procurement managers, purchase managers, department heads, and professionals from hospitals, fertility clinics, in vitro fertilization centers, and reference labs, among others. This primary research was hoped to validate market segmentation, identify key market players, and get an overview of the key trends and dynamics of the industry.
A breakdown of the primary respondents is provided below:
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*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = >USD 1 billion, Tier 2 = <USD 500 million, and Tier 3 = <USD 100 million.
Market Estimation Methodology
This report also presents the key players' revenue share analysis for the size of the in vitro fertilization market. The identification of key market participants and insights about their revenues in the in vitro fertilization sector are gathered through phases of primary and secondary research. The secondary research process relied heavily on top players' annual and financial reports, while primary research involved highly exhaustive interviews with key opinion leaders, viz., CEOs, directors, and senior marketing executives.
The methodology adopted to calculate the global market value was on a segment basis. These segmental revenues were then sourced through the revenue data of major solution and service providers. The steps involved in the process are
- Draw up a list of key global players operating in the in vitro fertilization market. Map the annual revenues accrued by players from the in vitro fertilization market or nearest reported business unit/ product category.
- It represents the current major share of the global market as of 2022, using revenue mapping of the key players.
Extrapolation to the global value for the in vitro fertilization market. Global In vitro fertilization Market: Bottom-Up Approach
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Global In vitro fertilization Market : Top-Down Approach
Data Triangulation
The in vitro fertilization market was segmented under various categories and subcategories using the above-mentioned methodology. Thereafter, proper data triangulation and the market segmentation process are carried out to further increase the accuracy of the data for each segment. Factors and trends from both the demand and supply sides were studied. Rigorous employment of both top-down and bottom-up approaches provided the result of the analysis of the in vitro fertilization market.
Market Definition
The in vitro fertilization market refers to the global landscape of Assisted Reproductive Technologies services and products that help a person or a couple conceive. It is a market that represents fertility clinics, hospitals, and even research institutions that provide in vitro fertilization treatments and related services, including medical devices, laboratory equipment, drugs, and consumables used for in vitro fertilization procedures. It also includes the diagnostic tests carried out prior to and in the course of in vitro fertilization, genetic screening technologies, and cryopreservation services. In vitro fertilization market has been used as a generic term describing the portfolio of diverse technologies, services, and products relating to the alleviation of infertility and the promotion of reproductive health.
Key Stakeholders
- Manufacturers and distributors of In vitro fertilization devices
- Healthcare institutions (Hospitals and clinics)
- Surgical centers
- Healthcare institutions (hospitals and cardiac centers)
- Research institutions
- Clinical research organizations
- Academic Medical Centers and Universities
- Reference labs
- Clinical research organizations
- Accountable Care Organizations (ACOs)
- Research and consulting firms
- Contract research organizations (CROs) and contract manufacturing organizations (CMOs)
- Academic medical centers and universities
- Market research and consulting firms
- Surgery Centers
- Group Purchasing Organizations (GPOs)
- Medical Research Laboratories
- Academic Medical Centers and Universities
Objectives of the Study
- Define, describe, and forecast the In vitro fertilization market on Product, cycle, procedure, end user and region.
- Analyze opportunities in the market for stakeholders and details of the competitive landscape for market leaders.
- Detailed information regarding major factors influencing the market growth.
- Analysis of the micro markets with respect to individual growth trends, prospects, and contribution to the total market.
- Tracking and analysis of competitive developments such as new product launches and approvals, agreements, partnerships, expansions, acquisitions, and collaborations in the in vitro fertilization market.
- Description of key companies operating in the market along with their market share analysis and core competencies
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the present global In vitro fertilization market
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top 5 companies.
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Geographic Analysis
- Further breakdown of the Rest of Europe's In vitro fertilization market: Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal among other
- Further breakdown of the Rest of Asia Pacific In vitro fertilization market Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
- Further breakdown of the Rest of the world In vitro fertilization market: Latin America, MEA, and Africa
Generating Response ...
Growth opportunities and latent adjacency in In Vitro Fertilization Market
Which major players are dominating the Global In Vitro Fertilization Market?
Which geography is expected to hold the major share of the global In Vitro Fertilization Market by 2030?
Which factors are responsible for boosting the growth of In Vitro Fertilization Market?