"The In Vitro Fertilization (IVF) Market is expected to grow from USD 669.9 million in 2021 to USD 1,256.35 million by 2028 at a CAGR of over 9.29% during the forecast period of 2022-2028".

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Market Dynamics

Introduction

In vitro fertilization (IVF) is defined as a type of assisted reproduction in which a woman’s eggs and man’s sperm are combined outside of the body in a Petri/laboratory dish. IVF is the most widely used method for assisted reproduction due to the usage of advanced technology and favorable reimbursement policies.

Market Drivers

Technological advancement in the IVF-assisted reproduction method is a prominent trend noticed in the global market.

• The growth of the global IVF market is primarily driven by declining fertility rates owing to various factors such as stress, pollution, an increase in people smoking, and obesity.
• Increasing awareness among people regarding infertility and the availability of various methods to treat infertility problems is likely to create lucrative opportunities for the players operating in the global IVF Market during the review period.

COVID-19 Impact

The market growth was affected when governments across geographies imposed lockdowns which resulted in travel restrictions. Also, many non-essential medical and surgical procedures including IVF were put to a halt which affected the market growth.

Various patients agreed to cancel fertility cycles due to fear of infection which further affected the market growth. However, patients are likely to resume IVF treatment with a decline in COVID-19 cases and the availability of vaccines.

Segments Analysis

By End-User Type

“The Fertility Clinics & Surgical Centers segment held the largest share of the market”.

The market has been segmented into fertility clinics & surgical centers, hospitals & research laboratories, and cryobanks. The segment growth can be attributed to the increasing number of fertility clinic centers coupled with rising infertility rates globally. The Fertility Clinics & Surgical Centers segment accounted for the largest market share of more than 75% in 2021.

By Reagent Type

“The Embryo Culture Media segment held the largest market share”.

The market has been segmented into embryo culture media, cryopreservation media, sperm processing media, and ovum processing media. The expansion was ascribed to factors such as increased research efforts to improve media for culture and more accessible funding. The Embryo Culture Media segment accounted for the largest market share of more than 40% in 2021.

By Cycle Type

“The Frozen Non-Donor IVF Cycles segment held the largest market share”.

The market has been segmented into fresh non-donor IVF cycles, frozen non-donor IVF cycles, frozen donor IVF cycles, and fresh donor IVF cycles. The Frozen Non-Donor IVF Cycles segment accounted for the largest market share of more than 45% in 2021. The segment is expected to register the fastest growth over the forecast period. The high percentage can be attributed to the cost-effectiveness when compared to fresh non-donor sperm, as well as the procedure's less-invasive nature.

Regional Analysis

“Europe held the largest market share, while Asia-Pacific is expected to grow the fastest during the forecast period”.

The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market in Europe accounted for the largest market share of more than 35% in 2021 owing to increasing infertility rates; rising awareness, and continuous spending on R&D activities to develop technologically advanced solutions for health problems. The market in Asia-Pacific is expected to register the fastest growth during the forecast period on account of the growing median age of first-time motherhood, rising infertility rates, and low treatment costs.

Key Players

The following are the key players in the In Vitro Fertilization (IVF) Market (arranged alphabetically)

Report Features

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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