In Vitro Fertilization Test Market is projected to expand at a CAGR of ~6% from 2021 to 2031
According to the report, the global in vitro fertilization test market was valued over US$ 1.5 Bn in 2020 and is projected to expand at a CAGR of ~6% from 2021 to 2031. The surge in inclination toward delayed pregnancies, number of fertility clinics across the globe, and fertility tourism is anticipated to drive the global in vitro fertilization test market from 2021 to 2031. Europe is expected to account for a significant share of the global in vitro fertilization test market during the forecast period. The extent of usage varies widely across countries in Europe, which can be attributed to legislation, affordability, reimbursement, and norms surrounding childbearing and conception. The adoption of ART legislation in Europe has increased over the past few years, with all countries having some form of legislation. Countries with complete coverage of treatments via national health plans, such as the U.K., Spain, and Italy have the highest level of ART utilization.
The market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2031. Increase in patient awareness about fertility treatments, rise in infertility issues owing to changing lifestyle, high stress level, and delayed pregnancy are the key factors propelling the market in Asia Pacific.
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Decline in Fertility Rates to Propel Market
Over the past few decades, fertility patterns across the world have changed dramatically. The global fertility rate has touched unprecedented low levels. According to a report published by the United Nations (UN), the global fertility rate declined from 3.2 live births per woman in 1990 to 2.5 in 2019. Europe has the lowest fertility rate of 1.7 children per woman. The global fertility rate is expected to decline to 2.4 children per woman by 2030 and 2.2 children per woman by 2050.
According to Child Trend, a non-profit research organization, fertility rates in the U.S. declined sharply during the ‘baby boomer’ years of the 1950s, early 1960s, and 1976 (118 and 65 births per 1,000 women of childbearing age for 1960 and 1976, respectively). Since the 1970s, fertility rates have been relatively stable, varying between 64 and 71 births per 1,000 women. There were small peaks in 1990 and 2007, but rates have dropped since then. They are the lowest in the recent history, standing at 63 births per 1,000 women in 2013.
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According to the Department of Family & Community Services Australia, fertility in Australia has been decreasing for a considerable time. The replacement fertility rate is around 2.1. The total fertility rate (TFR) was at its maximum level (3.6) observed in the 20th century in 1961. Throughout the 1970s and 1980s, TFR fluctuated around 1.8 or 1.9, with a small but steady decline throughout the 1990s. In 1999, Australia’s TFR was 1.75, dropping from 1.76 of the previous year. This was the minimum level observed in the 20th Century.
The fertility rate decreases as age increases. Massive urbanization in developing countries is a major factor responsible for the decline in fertility rates. Nearly 4 in 5 people (78%) are delaying pregnancy, focusing on other aspects of life. The continuous decline in fertility rates across the world drives the global in vitro fertilization test market.
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Preimplantation Genetic Testing to Dominate Global Market
In terms of test type, the global in vitro fertilization test market has been classified into sperm aneuploidy test, genetic compatibility test, preimplantation genetic testing, endometrial receptivity analysis, noninvasive prenatal testing, and others. The preimplantation genetic testing (PGD) segment is expected to dominate the global in vitro fertilization test market from 2021 to 2031. The usage of PGD for chromosomal aberrations, aneuploidy screening, gender selection, single gene disorder, HLA typing, and X-linked diseases has been increasing rapidly due to benefits associated with better pregnancy rate and birth of a healthy child. Aneuploidy screening using PGD has eased the method of detecting the risk of a syndrome caused due to variation in the number of chromosomes. This is expected to drive the segment during the forecast period.
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Fertility Clinics to be Major End Users
Based on end user, the global in vitro fertilization test market has been divided into fertility clinics, hospitals, and others. The fertility clinics segment is likely to account for a significant share of the global in vitro fertilization test market by 2031. Rise in fertility tourism and insurance coverage and government initiatives in registration of fertility clinics to provide safe and high quality IVF treatments are likely to fuel the growth of the fertility clinics segment.
Competition Landscape of In Vitro Fertilization Test Market
The report provides profiles of leading players operating in the global in vitro fertilization test market. These include CooperSurgical, Inc., Esco Micro Pte Ltd., FUJIFILM Irvine Scientific, Hamilton Thorne, Inc., Vitrolife AB, IVFtech ApS, Nidacon International AB, Igenomix, Thermo Fisher Scientific, Cook, Genea Biomedx, FertiPro N.V, Kitazato Corporation, PerkinElmer, Inc., Natera, Takara Bio, Inc., iGLS, and CiceroDx.
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