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In Vitro Fertilization Market: Government Initiatives to Promote IVF Treatments

 



(Medical-NewsWire.com, June 03, 2020 ) According to the new marketing research report “ Global In Vitro Fertilization Market by Product (Imaging System, Incubator, Cabinets, Sperm Separation System, Cryopreservation media, Embryo Culture media), type of Cycles & End Users (Fertility Clinics and Surgical Centres, Cryobanks) — Global Forecast to 2022”, published by MarketsandMarkets™, analyzes and studies the main market drivers, restraints/challenges, and opportunities.



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.



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.



Browse in-depth TOC on “In Vitro Fertilization Market”

106 Market Data Tables

33 Figures

181 Pages

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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 due to its liberal IVF regulations like 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 within the UK are allowed to implant two embryos.



In the European region, Spain is that the preferred destination for IVF because the country has liberal laws regarding the treatment, with shorter waiting lists and better 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 lady aged 30 years, approximately 40% of the IVF cycles end in live births, whereas the success rate reduces 20% for ladies 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 search study conducted among the Hutterite women of North America, who didn’t use contraception, found that 11% of ladies 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.



Asia Pacific to account for the most important market size during the forecast period.



The APAC region is expected to hold the largest share of the global IVF market in 2017. The region is also expected to grow at the highest growth rate during the forecast period. The large share and high growth rate of the APAC region can be attributed growth in the median age of first-time motherhood, rising infertility rates, growing prevalence of PCOS, increasing incidence of obesity, the rise in fertility tourism, and government initiatives.



Europe is anticipated to be the second largest region in terms of market size in the IVF market. This can be attributed to the increasing obesity rates and PCOS in the UK, rising age of first-time pregnancy and rising obesity rates in France, declining birthrates in Germany, favorable regulatory amendments for IVF in Italy, and rise of IVF tourism in Spain.



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Key Market Players



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. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


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