IVF Services Market Analysis of Booming Independent Brands in the India by 2017-2023
According to a new report published by Allied Market Research, titled, "India IVF Services Market by Gender, Procedure, Cycle Type, Offering, and End User: Opportunity Analysis and Industry Forecast, 2017-2023," the IVF services market in India was valued at $256.0 million in 2016, and is projected to reach $829.5 million by 2023, registering a CAGR of 18.2% from 2017 to 2023. Modern lifestyle, increase in infertility rate among couples, and rise in spending of middle class and higher class for IVF treatment are the major factors that boost the growth of the market.
In vitro fertilization (IVF) is an assisted reproductive technology (ART) procedure. It is the process of fertilization, which includes eggs extraction, sperm cell sample retrieval, and then manually combining an egg and sperm in laboratory settings to form an embryo. The embryo(s) is then transferred to the uterus for further gestation.
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The India IVF services market is expected to witness a substantial growth in future owing to rise in incidence of infertility cases, emerging trend of delayed pregnancies among women, and increased occurrences of gamete donations. Furthermore, low cost clinical settings for IVF treatments in India when compared with IVF treatment facilities in the U.S., the UK, and other established markets, rise in popularity of medical and fertility tourism coupled with advanced IVF facilities & treatment options are anticipated to supplement the market growth.
With respect to end users, the fertility clinics segment accounted for about 61% of the India IVF services market revenue in 2016, and is projected to maintain its dominance during the forecast period. In addition, this segment performed 77.4 thousand cycles in 2016, and is projected to reach 245.4 thousand by 2023, growing at a CAGR of 17.9%, thus accounting for the highest number of IVF cycles. This is attributed to the fact that fertility clinics provide technologically advanced and a wide range of fertility treatments under a single roof for patients.
Based on cycle type, the fresh IVF cycles segment (non-donor) generated the highest revenue of $187.1 million in 2016, and is expected to reach $606.6 million by 2023, growing at a CAGR of 18.2%. In addition, this segment was the largest segment in the India IVF services market, with 80.1 thousand fresh IVF cycles (non-donor) performed in 2016, and is expected to reach 239.6 thousand cycles by 2023, growing at a CAGR of 16.9% from 2017 to 2023.
Key Findings of the India Ivf Services Market:
• Based on cycle type, in 2016, fresh IVF cycle (non-donor) segment accounted for around 70% share of the total market, in terms of revenue
• Thawed IVF cycle (non-donor) is projected to be the one of the fastest growing segments, registering a CAGR of 19.6% from 2017 to 2023, in terms of revenue
• Based on gender, in 2016, the female infertility segment, in terms of volume, accounted for more than 70% share of the total market.
• Based on IVF procedures, in 2016, non-ICSI IVF accounted for the highest revenue, thereby registering a CAGR of 19.2% from 2017 to 2023.
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The prominent companies, hospitals, surgical centers, fertility centers, and clinical research institutes profiled in this report include Sun Pharmaceuticals Industries Ltd., Lab IVF Asia Pte. Ltd., LG Life Sciences, Cadila Pharmaceuticals Ltd., Bourn Hall Clinic, Morpheus Life Sciences Pvt. Ltd., Southend Fertility and IVF Centre, Nova IVI Fertility, Bloom Fertility Center, Manipalankur Andrology and Reproductive Medicine, Cloudnine Hospitals, Gunasheela Hospital Mathrutva Fertility Centre (A Unit Of Max HealthCare Pvt. Ltd.) Milann, and Oasis Center (a unit of the entity Sadguru Healthcare Services Pvt. Ltd.). Other players (profiles not included in the report) in the value chain analysis include, Apollo Hospitals, Fortis Hospitals, Ruby Hall IVF & Endoscopy Center., and others.
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