In-vitro Fertilization Market Size Worth $33.9 Billion By 2028 | CAGR: 6.5%: Grand View Research, Inc.

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Mar 10, 2021, 04:35 ET

SAN FRANCISCO, March 10, 2021 /PRNewswire/ -- The global in-vitro fertilization market size is expected to reach USD 33.9 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The growth of the market is driven by the continuous efforts of the market players, government initiatives to make available better reimbursement policies, and an increase in the incidence of infertility due to lifestyle changes. Expansion of fertility procedures such as ICSI for treating infertility is expected to positively impact market growth in the near future.

Key suggestions from the report:

Culture media dominated the market for IVF in terms of revenue in 2020. A number of research activities are being undertaken to improve the efficiency of culture media. For instance, Vitrolife showcased its research on SpermFreeze solution at the American Society for Reproductive Medicine (ASRM) that established the effectiveness of its solution for sperm recovery and sperm-hyaluronic acid-binding
Europe dominated the market for IVF in 2020. Adoption of advanced technologies such as time-lapse microscopy by the clinics, availability of affordable treatment, and adherence to medical standards contribute to market growth in the region
The APAC region is expected to witness increased demand for IVF owing to fertility tourism and the availability of funding for the treatment. In Japan, eligible couples can apply for co-funding for a maximum of three cycles with USD 1,920 for each cycle
The developing countries in Asia Pacific are undertaking legal reforms to promote treatment adoption in the region. For instance, in February 2020, the Government of India approved a bill for the regulation of clinics offering reproduction assistance services, including IVF, artificial insemination, and surrogacy
In January 2020, Merck received Marketing Authorization (MA) from the European Commission (EC) for its recombinant human follicle-stimulating hormone, GONAL-f (follitropin alfa) 150 IU pen

Read 120 page research report with ToC on "In-vitro Fertilization Market Size, Share & Trends Analysis Report By Instrument (Disposable Devices, Culture Media), By Procedure Type (Fresh Donor, Frozen Donor), By End-use, By Region, And Segment Forecasts, 2021 - 2028'' at: https://www.grandviewresearch.com/industry-analysis/in-vitro-fertilization-market

Moreover, the availability of genomic testing facilities that enable the prevention of the transfer of genetic disorders during In Vitro Fertilization (IVF) is further expected to drive the market. The insurance providers are providing coverage to IVF procedures owing to an increase in the number of IVF treatments. This has led to competitive pricing and has moderated the IVF treatment costs as the procedure has been a successfully practiced technology, driving the market with more treatment automation and standardization.

A decline in the Total Fertility Rate (TFR) is a result of factors such as a behavioral shift in society. These factors include a shift from rural to urban societies, the increased age of the first birth, an increasing number of women in the labor force, postponement of marriage, and lower marriage rates.

The in-person fertility treatments in U.S. and Canada were suspended in March 2020 by the Canadian Fertility and Andrology Society and American Society of Reproductive Medicine due to the COVID-19. However, treatment is resuming in many countries with ease of COVID-19 restrictions, including the developing nations. Medicover Fertility, IVF center in India, in July 2020 announced to resume the IVF procedures after initial COVID risk assessment.

Grand View Research has segmented the global in-vitro fertilization market on the basis of instrument, procedure type, end-use, and region:

IVF Instrument Outlook (Revenue, USD Million, 2016 - 2028)

Disposable Devices
Culture Media
Capital Equipment

IVF Procedure Type Outlook (Revenue, USD Million, 2016 - 2028)

Fresh Donor
Frozen Donor
Fresh Non-donor
Frozen Non-donor

IVF End-use Outlook (Revenue, USD Million, 2016 - 2028)

Fertility Clinics
Hospitals & Others Setting

IVF Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

Germany
France
Italy
Spain
U.K.
Belgium
Netherlands
Switzerland

Asia Pacific

China
India
Japan

Latin America

Brazil
Mexico

Middle East & Africa

South Africa

List of Key Players of In-vitro Fertilization (IVF) Market

OvaScience
EMD Serono Inc.
Vitrolife AB
Irvine Scientific
Cook Medical Inc.
Cooper Surgical Inc.
Genea Biomedx
Thermo Fisher Scientific Inc.
Progyny, Inc.
Boston IVF

Find more research reports on Medical Devices Industry, by Grand View Research:

In-vitro Fertilization Microscopes Market – The global in-vitro fertilization microscopes market size was valued at USD 80.8 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.43% from 2020 to 2027.
Infertility Treatment Devices & Equipment Market – The global infertility treatment devices and equipment market size was valued at USD 206. 7 million in 2018 and is expected to expand at a CAGR of 9.3% over the forecast period.
Hospital Acquired Infections Diagnostics Market – The global Hospital Acquired Infection (HAI) diagnostic market size was estimated to be USD 3.6 billion in 2015. HAIs have been of increasing concern in healthcare facilities across the globe.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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