Global In Vitro Fertilization (IVF) Market
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IVF includes a number of procedures, such as frozen embryo replacement, intracytoplasmic sperm injection, and preimplantation genetic diagnosis. These procedures are carried out in hospitals, surgical centers, fertility clinics, and clinical research institutes. The success of the IVF market has resulted in growing demand for the various instruments, reagents, and media used. These include cryosystems, cabinets, sperm separation systems, micromanipulators, incubators, imaging systems, and ovum aspiration pumps. Media for semen processing, embryo culture, cryopreservation, and ovum processing have also been witnessing increased demand.
The report on the global IVF market presents a detailed yet concise evaluation of the scope and dynamics of the market for in vitro fertilization. The various factors propelling and hampering its growth over the course of the forecast period have been clearly highlighted, along with future opportunities outlined and suggestions on overcoming the challenges that lie ahead.
The global market for IVF has been divided into Europe, North America, Asia Pacific, and Rest of the World based on geography. North America and Europe presently dominate the market owing to the rapid and widespread adoption of IVF and various advanced technologies in these regions. Supportive legal frameworks, favorable reimbursement scenario, and growing health-care awareness among the general population have also significantly boosted the demand for IVF around the globe.
Several regulatory reforms, the standardization of procedures through automation, and government funding for sperm/egg storage and for new experiments have driven the North American IVF market. In addition to the fact that infertility treatments have become less risky, more advanced, and relatively more affordable of late, the demand for IVF in the U.S. and Canada has been significantly influenced by the improving economic conditions and higher levels of disposable income.
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Europe was one of the first regions to adopt IVF and the first to legally approve the mitochondrial transfer technique. This, combined with the strict adherence to medical standards and the high quality of treatment offered at economical prices, has greatly driven the IVF market in Europe and will continue to do so in the coming years. Europe is also a major attraction for international clients, with countries such as Spain and Czech Republic boasting of an increasingly large number of egg donors.
Asia Pacific is fast emerging as a strong contender in the global IVF market, and this region is anticipated to expand at a significant pace over the course of the forecast period. The rising incidence of infertility among men and women for various genetic or lifestyle-associated reasons is one of the major factors driving the Asia Pacific IVF market. Other factors contributing toward the growth of this market are the high success rates of IVF, increased availability of IVF clinics, and the growing trend of fertility tourism.
The global IVF market is increasingly competitive given the rising popularity of the procedure. The vendor landscape features the presence of leading global and local companies dealing in the manufacture of IVF devices. The most prominent players operating in the global IVF market include Oxford Gene Technology, OvaScience, Inc., Progyny, Inc., Thermo Fisher Scientific, Inc., Auxogyn, Inc., Genea Biomedx, Boston IVF, Vitrolife AB, Cooper Surgical, Inc., Irvine Scientific, Cook Medical, Inc., and EMD Serono, Inc.
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