Press release
Asia-Pacific In-vitro Fertilization (IVF) Services Market is Expected to Reach $7.1 Billion, by 2022
View full summary at: https://www.alliedmarketresearch.com/asia-Pacific-in-vitro-fertilization-services-market
Changing lifestyle conditions, reduced conceiving rates in women above 40 years, delay in pregnancy in women suffering from gynecological conditions, and fertility disorders followed by favorable reimbursement scenario and delayed parenthood opted by couples due to professional and financial constraints are some of the major factors that drive the market growth. The Asia-Pacific IVF market is estimated to grow at a CAGR of 13.3% during 2016-2022.
The rapidly growing geriatric population has been a major concern for the government in most of the countries in the Asia-Pacific region. Several countries, such as Vietnam, Cambodia, and Philippines, have fertility rates of 2 births per woman, which is below the average rate of 2.1 births per woman. These countries are keen on boosting their fertility rates to maintain balance between new born and geriatric populations. Indonesia in particular had a fertility rate of 2.1 and geriatric population of about 5% of the total population in 2015. According to AgeingAsia.org, this number is anticipated to reach 74 million by 2050. Korea, which had a fertility rate of 1.25 in 2014, has announced financial support for infertility treatment. Similarly, Singapore, with fertility rate of 0.80 in 2014, has increased the subsidy for treatment to 75% of the treatment cost. These factors have been instrumental in driving the growth of the Asia-Pacific embryo transfer market.
In the end user segment, fertility clinics accounted for major share of the Asia-Pacific IVF market in 2015, and is projected to maintain this trend throughout the forecast period. The rise can be attributed to rise in the number of fertility clinics as well as the availability of wide range of fertility treatments under one roof coupled with government reimbursements. Fertility clinics are followed by hospitals in terms of revenue generation and together with fertility clinics they occupy approximately four-fifth share of the overall Asia-Pacific market.
Key Findings of the Asia-Pacific In-vitro Fertilization (IVF) Services Market:
Hospitals is projected to be the fastest growing segment.
India is forecast to be the fastest growing country in Asia-Pacific IVF market, growing at a CAGR of 16.6% from 2016 to 2022 in terms of revenue.
In 2015, China and Japan collectively accounted for approximately two-thirds share of the Asia-Pacific IVF market volume.
Fresh cycle (non-donor) would be the highest revenue generating segment followed by Thawed IVF cycle (non-donor) during 2016-2022.
Thawed IVF cycle (non-donor) will be the fastest growing segment in Vietnam during 2016-2022 growing at a CAGR of 8.2% in terms of volume.
Japan is the highest revenue-generating region in 2015, owing to the widespread adoption of IVF techniques. However, India is expected to grow rapidly during the forecast period, owing to the growth in cost per cycle due to increasing sophistications of procedures and advancements in technology.
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