The global in vitro fertilization market size is projected to register a CAGR of 5.9% from 2022 to 2030, reaching USD 37.4 billion by 2030. Escalating infertility cases owing to lifestyle changes and the growing reprotourism are majorly driving the market growth. The government-initiated reimbursement policies and constant efforts by the market players for better outcomes have positively affected the market.
The growing trend of delayed pregnancies and freezing eggs in order to focus on their career are driving factors for the IVF market growth. IVF is significantly used among couples facing difficulty in fertility. With advancements in technology, the popularity of IVF is also expanding. Advanced IVF technology helps prevent the transfer of genetic disorders through genomic testing facilities during in vitro fertilization, which is expected to further promote market growth.
In the Asia Pacific, several developing countries are adopting legal reforms that encourage IVF treatment adoption. North America is also projected to witness rising demand for in vitro fertilization treatment during the forecast year. Factors like standardization through automation, regulatory reforms, initiatives and funding from the governments, and expansion of IVF treatments by the major industry players are expected to further enhance the market growth.
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In Vitro Fertilization Market Report Highlights
• In 2021, the market was dominated by Europe for procedures and instruments owing to the availability of affordable treatment, enhanced technologies like time-lapse microscopy, and strict medical policies
• The cultural media segment extracted the highest revenue in the market in 2021. A wide range of research activities have also been initiated to improve the cultural media efficiency
• Owing to fertility tourism, the market is expected to witness high growth in the Asia Pacific
In Vitro Fertilization Market Segments
In Vitro Fertilization Instrument Outlook (Revenue, USD Million, 2017 - 2030)
• Disposable Devices
• Culture Media
• Capital Equipment
In Vitro Fertilization Procedure Type Outlook (Revenue, USD Million, 2017 - 2030)
• Fresh Donor
• Frozen Donor
• Fresh Non-donor
• Frozen Non-donor
In Vitro Fertilization End-use Outlook (Revenue, USD Million, 2017 - 2030)
• Fertility Clinics
• Hospitals & Other Setting
In Vitro Fertilization Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa (MEA)
• South Africa
• Saudi Arabia
List of Key Players for In Vitro Fertilization Market
• EMD Serono Inc.
• Vitrolife AB
• Irvine Scientific
• Cook Medical Inc.
• Cooper Surgical Inc.
• Thermo Fisher Scientific Inc.
• Progyny, Inc.
• Boston IVF