In-Vitro Fertilization Market to Grow to US$ 725.9 Million by the End of 2022
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The global in-vitro fertilization market is projected to grow from US$529.8 Mn in 2017 to US$725.9 Mn by the end of 2022. The worldwide market is forecast to expand at a CAGR of 6.5% during 2017–2022.
The major regional markets profiled in the report are North America, Latin America, Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the APEJ holds the major revenue of the global market in 2017 and is expected to retain its dominance through the forecast timeline. Rising at a CAGR of 6.7% from 2017 to 2022, the APEJ in-vitro fertilization market will reach a worth US$235.9 Mn by the end of the forecast period. The dominance is attributed to favorable governmental initiatives and a burgeoning medical tourism in several emerging nations. The regional market will further benefit from players looking to capitalize on opportunities from unmet medical needs.
The North America in-vitro fertilization market is projected to rise from US$141.3 Mn in 2017 to US$196.1 Mn by the end of 2022. The regional market is anticipated to rise at an impressive CAGR of 6.8% during 2017 - 2022. Constant advancements made in IVF technologies and growing insurance coverage are key factors accentuating the regional market. Furthermore, the growth is likely to be fueled by rising rate of infertility in the region.
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Meanwhile, Europe in-vitro fertilization market is projected to lose some 44 BPS from 2017 to 2022. By 2017 end, the global share of the regional market is estimated at 19.9%, vis-à-vis revenue. The MEA market is also estimated to lose 11 BPS in its market share from 2017 through 2022.
On the basis of product type, the report segments the in-vitro fertilization market into equipment, reagents, and others. Among these, the reagents holds the major share in the market. The estimated valuation of the segment is US$ 284.1 Mn in 2017, standing for 53.6% and is projected to rise to US$ 385.9 Mn by 2022 end. This will represent a share of 53.2%, an incremental decline in share. However, the annual growth of the segment in absolute terms is US$ 20.3 Mn, which is larger than all other segments. The segment is anticipated to register a CAGR of 6.3% during the forecast period.
Some of prominent players operating in the market are Thermo Fisher Scientific, Inc., Cook Medical, Merck KGaA, Vitrolife AB, Ovascience, Inc., CooperSurgical, EMD Serono, Inc., Genea Ltd., Rocket Medical PLC, and Fertility Focus Ltd. These players are focused on launching advanced technologies that are likely to substantially improve the outcome of the IVF cycles. This will help them gain a competitive edge over others.
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