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(Medical-NewsWire.com, March 24, 2020 ) MarketsandMarkets forecasts the In Vitro Fertilization market to grow from USD 465.2 million in 2016 to 847.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period. The major factors that are expected to be driving the IVF market are growth of this market include growth in the median age of first-time motherhood, declining fertility rates, rising male infertility, rise in consumption of alcohol and cigarettes, and growing public awareness about infertility and the available treatment options.
Opportunity: Fertility tourism
Asia is one of the most preferred destinations for medical care. One of the major factors driving the medical tourism industry in Asia is the low cost for high-quality healthcare facilities delivered by doctors and surgeons trained and educated in the top institutes in the US and Europe.
According to a survey conducted by the International Federation of Fertility Societies in 2013, there are more than 600 IVF clinics across India. In addition to the availability of advanced healthcare facilities, the cost of an IVF cycle in India is around 70% lower than that of some developed countries. According to the American Society for Reproductive Medicine, an average IVF cycle in the US costs around USD 12,400, whereas the costs drop dramatically to USD 3,000 in India and USD 4,000 in Thailand. Thus, the low cost of the procedure and quality healthcare facilities in Asian countries will create growth opportunities for the IVF market.
In addition to low treatment costs, coupled with high-quality treatments, the presence of liberal laws regarding the IVF treatment is also driving fertility tourism in emerging Asian countries such as India and Thailand. For instance, Thailand is attracting couples for IVF treatment because of its liberal IVF regulations such as gender selection of the embryo before implantation, whereas IVF is banned for couples with a certain number of children in China and the IVF technology is entirely banned under all circumstances in Costa Rica. Also, clinics in India are permitted to transfer six embryos simultaneously, whereas clinics in the UK are allowed to implant two embryos.
In the European region, Spain is the preferred destination for IVF as the country has liberal laws regarding the treatment, with shorter waiting lists and higher success rates compared to other European countries.
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Challenge: Reducing efficacy of infertility treatment with advancing age
The changing social scenario has resulted in an increasing number of older women seeking help from infertility clinics. As a woman ages, it takes her longer to conceive, and the chances of not being able to conceive also increase. Also, the risk of miscarriage and complications in pregnancy and childbirth increase with age.
According to the American Society for Reproductive Medicine, a 30-year-old healthy and fertile woman has about 20% chance of getting pregnant without assistance every month, whereas, for a woman aged 40 years or above, the chance decreases to 5%. Furthermore, for a woman aged 30 years, approximately 40% of the IVF cycles result in live births, whereas the success rate reduces to 20% for women older than 40. A woman aged 35 or above is 2.5 times more prone to have a miscarriage or stillbirth than a woman aged less than 35; whereas, a woman aged above 40 is more than 5 times prone to have a miscarriage or stillbirth than a woman under 35 years of age.
According to a study by the Advanced Fertility Center, Chicago, 1 in every 4 women is infertile by the age of 35. The study states that the rate of pregnancy declines gradually in the 30s and considerably declines during the late 30s and 40s. Furthermore, a research study conducted among the Hutterite women of North America, who did not use contraception, found that 11% of women were infertile by age 34, 33% by the age of 40, and 87% by the age of 45. The declining success rates of IVF treatment procedures with increasing age of patients is a major challenge for fertility treatment technologies.
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Leading Companies of In Vitro Fertilization Market CooperSurgical, Inc. (US), Vitrolife AB (Sweden), Cook Medical, Inc. (US), Irvine Scientific (US), Thermo Fisher Scientific Inc. (US), EMD Sereno Inc. (US), Genea Limited (Australia), Esco Micro Pte. Ltd. (Singapore), IVFtech ApS (Denmark), The Baker Company, Inc, (US), Kitazato Corporation (Japan), Rocket Medical Plc. (UK), Hamilton Thorne, Inc. (US), Shivani Scientific (India), BIOGENICS, Inc. (US), Nidacon International AB (Sweden), Lotus Bio (Israel), Eppendorf AG (Germany), Okolab Srl (Italy), IKS International (Netherlands), Hunter Scientific (UK), Thomas Medical (US), Labotect GmbH (Germany), Shivani Scientific (India), Olympus Corporation (Japan), and RI.MOS.srl (Italy).
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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