Global In Vitro Fertilization Market to Grow at a (CAGR) of 5.7% during the Forecast Period 2022-2030

Nov-2022 | Pharmaceuticals & Healthcare

As specified in our exclusive report, the Global In-Vitro Fertilization Market is projected to reach USD 32 billion by 2030.

In-vitro fertilization involves some risks such as genetic disease transfer during the procedure. There are few tests available like genomic testing to prevent such diseases. This test has the potential to set a positive growth rate for the in-vitro fertilization market. Governments of various countries are investing money in the in-vitro fertilizer market by giving grants and providing adequate funds. Various government initiatives are also supporting the growth of the market.

According to WHO, 8%-10% of couples suffer worldwide from infertility which is around 80 million couples globally. According to the American Pregnancy Association, infertility accounts for 30% of infertility cases in men and contributes to approximately one-fifth of infertility cases. The average age for women and men to marry and have a first child is growing.

Also, to focus on their career, many women freeze their eggs to have a baby at a later stage. The growing reliance on fertility treatment will support the growth of the market. The availability of funds is increasing the adoption of IVF procedures.

The Asia Pacific region is expected to witness maximum growth over the forecast period due to the increasing number of government initiatives and the large-scale implementation of the latest in-vitro fertilization (IVF) technology.

Recent Development:

January 2021: Royal Philips and Merck KGAA entered into a partnership to develop digital solutions to provide personalized treatments for fertility.

August 2021: Merck Specialties Pvt Ltd in India launched the Pergoveris pen for advanced infertility treatment in the country. The launch will emphasize Merck's objective to meet unmet medical needs by offering ready-to-use and better treatment options for women with severe follicle-stimulating conditions and luteinizing hormone.

Fertility tourism, an increase in foreign investment to enter economically developing countries, and changing regulatory landscape is expected to boost the demand for IVF treatment in the Asia Pacific region. The incidence of infertility has increased due to lifestyle changes, such as the rising prevalence of obesity and stress, lack of exercise, nutritional deficiencies, improper eating habits, and rapidly growing pollution, as well as due to the prevalence of medical conditions such as diabetes.

Some of the key players in the in-vitro fertilization market are:

Vitrolife AB, The Baker Company, Inc., Kitazato Corporation, Cooper Surgical, Inc., Thermo Fisher Scientific Inc., OvaScience, Boston IVF, Cook Medical, Inc., Esco Micro Pte. Ltd., EMD Serono Inc., and Others.

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