Global In Vitro Fertilization Market Report and Forecast 2024-2032

Global In Vitro Fertilization Market Outlook

The global in vitro fertilization market size reached a value of around USD 24.98 billion in 2023. The market is expected to grow at a CAGR of 7.10% between 2024 and 2032, reaching a value of around USD 46.30 billion by 2032.

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Key Trends in the Market

In vitro fertilization (IVF) is a type of assisted reproductive technology (ART) that entails taking eggs from ovaries and fertilising them with sperm in a lab. The process involves enhancing ovulatory function, ovum extraction from the woman's ovaries, and sperm fertilization of the ovum in a lab liquid. IVF is one of the most popular treatments for couples who are having infertility issues.

• One of the key trends fuelling the global in vitro fertilization market expansion are the rising rates of male and female infertility. The median age at which women and men have their first child is rising. Delays in conception result in pregnancy difficulties, which cause infertility, which fuels the expansion of the in-vitro fertilization market.

• The market for in vitro fertilization is likely to advance due to an increase in ovulation disorders and the rising use of preimplantation genetic testing and diagnosis in the healthcare industry. IVF can help women facing ovulation disorders optimise their chances of extracting healthy eggs and implanting embryos.

• Factors including the availability of advanced products, increasing male infertility, growing awareness of IVF, rising IVF success rates, increasing alcohol and cigarette usage, and rising government measures to improve IVF therapy all contribute to the in vitro fertilization market growth. Usage of sperm donors or selection of strongest sperm can help males facing infertility produce children.

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Global In Vitro Fertilization Market Analysis

Based on type, the market is divided into conventional IVF, IVF with ICSI, and IVF with donor eggs, among others. The market on the basis of cycle is segmented into fresh non-donor IVF cycles, frozen non-donor IVF cycles, frozen donor IVF cycles, and fresh donor IVF cycles. On the basis of instrument, the market is divided into disposable devices, culture media, and capital equipment. The market on the basis of end user is segmented into fertility clinics, hospitals and surgical centres, and research institutes, among others. The regional markets for in vitro fertilization are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global in vitro fertilization market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Boston IVF

• Monash IVF

• Pelargos IVF

• Ovation Fertility

• RSMC

• Bloom IVF Centre

• Pacific Fertility Center

• Others

Market Share by End-User

According to the in vitro fertilization market research, fertility clinics end-users occupied a sizable share of the market for IVF and are anticipated to experience a rapid CAGR throughout the forecast period. When a couple has fertility-related problems, specialised clinics known as fertility clinics are often their first choice for diagnosis and treatment. Fertility clinics provide couples and individuals with specialised treatment services linked to their pregnancy and reproductive difficulties. The main drivers of the growth of the fertility clinics market globally are the rising number of fertility clinics, rising awareness of fertility clinics, and decreasing fertility rates.

In addition, the demand for assisted reproductive technology (ART) treatments is increasing, which has led to a significant rise in the number of fertility clinics and ART centres. The expansion of fertility clinics is projected to be fuelled by factors including cost-effectiveness, increased accessibility of specialists, and lower risk of hospital-acquired infections (HAIs).

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Market Share by Region

In the Asia Pacific region, the in vitro fertilization market is anticipated to grow at a fast rate as a result of fertility tourism, increasing prevalence of infertility, and changing regulatory environments. The prevalence of medical conditions like diabetes as well as changes in lifestyles, including the rise in stress and obesity, lack of exercise, poor eating habits, inadequate nutrition, and an increase in pollution, are contributing to the rise in incidences of infertility. With increased infertility and availability of specialised fertility clinics, more couples and individuals are seeking in vitro fertilization in the Asia Pacific. 

The major factors propelling the in vitro fertilization market in Asia Pacific are rising healthcare costs, increased use of advanced reproductive technologies, and expanding public awareness of in-vitro fertilization. In addition, the region's in-vitro fertilization market is likely to be impacted by the expanding medical tourism sector.

Competitive Landscape

Boston IVF, founded in 1986 and headquartered in Massachusetts in the United States, offers reproductive technologies and patient care. The company provides services in a variety of patient care sectors, including diagnosis, treatment strategies, fertility drugs, GYN surgery procedures, fertility treatment, donor eggs, surrogacy, and embryo donations. Several clinics across the world today use laboratory and embryo sciences that Boston IVF created.

Monash IVF is a specialised assisted reproductive technology (ART) and tertiary level diagnostic ultrasound company with its headquarters in Victoria, Australia. It was developed through acquisition and growth, commencing operations in 2008 with the purchase of Repromed. With a comprehensive approach to patient care, they provide a full spectrum of professional diagnostic obstetric and gynaecological ultrasonography services and reproductive therapies.

Pelargos IVF, founded in 2015 is a boutique fertility clinic with its headquarters in Athens, Greece. The company's mission is to offer fully customised therapies to every patient, and accordingly each patient is assigned a single fertility doctor to guide them throughout their fertility journey. Pelargos IVF areas of expertise include egg donation, endometriosis, PCOS, and repeated implantation failures, and the company also designs customised IVF procedures.

Other market players include Ovation Fertility, RSMC, Bloom IVF Centre, and Pacific Fertility Center, among others.

Key Highlights of the Report