IVF Devices and Consumables Market Size to hit $7,732 million by 2026, at CAGR of 16.6% With Top Companies Cook Medical Inc., Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Genea Biomedx

In vitro fertilization (IVF) is a type of assisted reproductive technology in which the ovum is artificially fertilized in laboratory settings and then implanted into the uterus. IVF is one of the widely used treatments, which assists couples with infertility problems, single mothers, and the LGBT community to procreate. Increase in infertility rate, rise in awareness toward IVF, growth in demand for advanced IVF technologies, and surge in IVF success rate are the key factors that drive the growth of the IVF devices and consumables market globally. However, the market growth is restricted by higher costs associated with IVF devices and ethical issues & complications associated with IVF.

The global IVF devices and consumables market size was valued at $2,243 million in 2018, and is expected to reach $7,732 million by 2026, growing at a CAGR of 16.6% from 2019 to 2026.

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Based on product, the accessory & disposable segment is the major revenue contributor, and is expected to dominate the market during the forecast period, due to their cost-effectiveness. However, the instrument segment is anticipated to grow at the highest rate, due to technological advancements and surge in demand for advanced IVF devices.

Based on technology, fresh embryo IVF is the major revenue contributor, and is expected to show dominance during the forecast period, due to its advantages such as higher success rate, convenience, cost-effectiveness, and safety.

Depending on end user, the global IVF devices and consumables market is dominated by the fertility clinic segment, and this trend is likely to continue during the forecast period, due to low cost of treatment and increase in number of fertility clinics. However, the surgical center segment is expected to grow at a significant rate, due to increase in number of surgery centers in developing regions and rise in use of IVF.

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Europe accounted for nearly one-third share of the global market in 2018, and is expected to remain dominant throughout the forecast period, owing to higher demand for IVF, increase in infertile population, higher number of trained medical professionals, and availability of technological advance IVF devices with higher success rate. However, Asia-Pacific is expected to register highest CAGR during the forecast period majorly due to increase in disposable income and surge in adoption of IVF, owing to rise in infertility rate.

Key players in the IVF devices and consumables market have adopted various developmental strategies such as business expansion, merger & acquisition, and product developments to strengthen their foothold in the market. For instance, in July 2017, Fujifilm Holdings Corporation launched the Continuous Single Culture-NX, a next generation culture medium for embryos. This media culture has lower lactate concentration, which helps to maintain metabolic rates efficiently in the embryo culture for in vitro fertilization (IVF) applications. Similarly, in June 2016, Vitrolife AB launched the EmbryoScope+, an additional high-quality time-lapse system for undisturbed culture and improved selection of embryos. This product launch improved the IVF portfolio of the company. Furthermore, with respect to mergers, in December 2018, Milendo Therapeutics Inc. announced the successful merger completion of Ovascience. The combined company will operate under the name Millendo Therapeutics and will work toward development of Millendos leading orphan endocrine pipeline.

The key players profiled Are:

Cook Medical Inc., Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Genea Biomedx, Merck KGaA (EMD Serono, Inc.), Millendo Therapeutics, Inc., Oxford Gene Technology, Progyny Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Thermo Fisher Scientific, Inc., and Vitrolife AB.

The other companies Are:

Esco Micro Pte Ltd. and IVFtech ApS.

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