Rise in Demand & Technology Advancements Fuel the Growth of IVF Devices and Consumables Market | Industry Forecast 2025

In vitro fertilization (IVF) is a type of assisted reproduction technology in which the ovum is artificially fertilized in laboratory settings and then implanted in the uterus. IVF is one of the most used treatments, which helps couples with infertility problems, single mothers and the LGBT community to procreate.

Increasing the rate of infertility, increasing awareness towards IVF, growing demand for advanced IVF technologies and increasing the success rate of IVF are the key factors driving the growth of the device market and IVF consumables around the world. However, market growth is restricted by the higher costs associated with IVF devices, the ethical issues and the complications associated with IVF.

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Based on the product, the accessories and disposables segment is the main revenue contributor and is expected to dominate the market during the forecast period, due to its profitability. However, the instrument segment is expected to grow at the highest rate, due to technological advances and increased demand for advanced IVF devices.

Based on the technology, fresh embryo IVF is the main contributor to income, and it is estimated that it shows a predominance during the forecast period, due to its advantages as a higher rate of success, convenience, profitability, and safety.

According to the end user, the global market for IVF devices and consumables is dominated by the fertility clinic segment and it is estimated that this trend will continue during the forecast period, due to the low cost of treatment and the increase in the number of clinics of fertility. However, the segment of the surgical center is expected to grow at a significant rate, due to the increase in the number of surgical centers in the developing region and the increase in the use of IVF among the surgical centers.

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Leading Market Players:

• Cook Medical Inc.
• FUJIFILM Holdings Corporation
• Genea Biomedx
• Merck KGaA
• Ovascience Inc.
• Oxford Gene Technology

Key Findings of the Study:

• Based on product, the instrument segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 23.7% from 2018 to 2025.

• Based on technology type, the fresh embryo IVF segment exhibits the fastest growing and is expected to register a CAGR of 17.9% from 2018 to 2025.

• Based on the end user, the fertility clinic segment held more than half share of the global market share in 2017 and is expected to remain dominant throughout the forecast period.

• Based on the region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 20.2% during the forecast period.

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