The global IVF market becomes hefty.
A report published in 2021 has reported that the market value of global IVF will reach USD 36.39 billion and the compound Annual growth Rate reach 10.1% by 2026.
This data can help to understand how the IVF sector is growing as the global market value of the IVF was USD 16.89 billion in 2018.
European countries hold a higher market share which generated USD 7.57 billion in 2018.
Apart from Europe, North America also has a steady growth. However, most of the US population who need IVF treatment opt for international medical tourism to reduce the expense.
The reason behind the huge increase in the IVF market is delaying family planning.
Infertility among the general population increases.
The tendency to develop female infertility is more compared with male infertility.
Increasing age, obesity, sedentary lifestyle prevents natural conception and that can be resolved by opting for IVF.
In the IVF process, the manual fertilization process followed by mixing collected sperms and eggs in a laboratory set-up to create embryos.
The IVF is an integral part of the assisted reproductive technologies (ARTs)and influences the growth of the IVF market.
The development of the IVF industry also supports market growth.
Monash IVF, Shady Grove Fertility, Group Ambroise Paré Clinic, Ovation Fertility, Bangkok IVF center, Bloom IVF Centre, Boston IVF, Pelargos IVF RSMC are the major market players of the IVF.
These clinics are gradually adopting all the possible advancements including new embryo screening tests to offer better treatment outcomes.
The global IVF market has different segmentations depending upon certain factors including type, procedure, end-user, geographical location.
These segments have further divisions like
- Type includes conventional IVF and IVF with ICSI (intracytoplasmic sperm injection)
- The procedure includes fresh non-donor, frozen non-donor, fresh donor, frozen donor.
- End-user includes hospital and fertility clinic.
- Geographical location includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Reference:
https://www.globenewswire.com/news-release/2021/02/02/2167897/0/en/Global-IVF-Market-2021-Size-Share-Market-Worth-USD-36-39-Billion-and-Exhibit-10-1-CAGR-by-2026.html