The global in-vitro fertilization (IVF) market is expected to reach USD 36.39 billion by 2026, exhibiting a CAGR of 10.1% during the forecast period. The increasing cases of infertility can be a critical factor bolstering the growth of the market during the forecast period, states Fortune Business Insights in a report titled “In Vitro Fertilization (IVF) Market Size, Share & Industry Analysis, By Type (Conventional IVF, and IVF with ICSI), By Procedure (Fresh Non-donor, Frozen Non-donor, Fresh Donor, and Frozen Donor), By End User (Hospitals, and Fertility Clinics) and Regional Forecast, 2019-2026” the market size stood at USD 16.89 billion in 2018.
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The IVF Market report contains:
- Through analysis of all the sections in the market
- Informative data and figures
- Market trends and drivers
- Superior insights into all emerging developments
Regional data in terms of revenue
Increasing Demand for ICSI treatment to Augment Growth
The growing awareness about infertility will spur demand for the treatment of IVF in the forthcoming years. The growing introduction of advanced treatment of intracytoplasmic sperm injection (ICSI) will drive the market in the foreseeable future. The rising medicinal and surgical procedures for IVF treatment will enable speedy expansion of the market. IVF is the process of fertilization by extracting eggs, retrieving a sperm sample, and then manually combining egg and sperm in a laboratory. The rising adoption of the IVF technique among infertile couples will subsequently create lucrative opportunities for the market during the forecast period. The rising emphasis on assisted reproductive techniques will boost the demand of the market. The increasing popularity of IVF & ICSI treatment is likely to foster the growth of the in vitro fertilization (IVF) market.
High Risks Of IVF Treatment to Limit Market Growth
The high risks associated with IVF and ICSI treatment will subsequently limit the growth of the market during the forecast period. For instance, according to a data published by the Reproductive Science Center, a rare condition called “Imprinting Disorders” associated with IVF procedures estimated that the risk of such disorders with IVF treatment was around 2 to 5 per 15,000 births using IVF technique, while the risk in general cases was 1 in 15,000 normal births. Thus, the potential risks and birth defects associated with IVF treatment and high-priced treatment of IVF are factors expected to dampen the growth of the market during the forecast period.
Rising Prevalence of Infertility to Aid Expansion in Europe
The market in Europe generated a revenue of USD 7.57 billion in 2018. The growth in the region is attributed to the increasing prevalence of infertility. The growing success rate of IVF treatment countries such as Spain and Denmark will further aid the development of the market in Europe. According to data published by the European Society of Human Reproduction and Embryology (ESHRE) states that the pregnancy rate per treatment in Europe in 2016 was around 30.5% which witnessed a growth of 1.3% than the previous year owing to the high success rate of IVF & ICSI procedures. The market in Asia Pacific is expected to grow rapidly during the forecast period owing to the surge in medical tourism. The rising awareness regarding infertility will have a tremendous impact on the market in the region. The higher adoption of IVF treatment will consequently foster the growth of the market in the forthcoming years. For instance, according to the Fertility Society of Australia, in 2018 there were around 120 registered clinics present in Australia, among which almost 98.0% were providing IVF services.
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