Global In-Vitro Fertilization (IVF) Market Is Expected To Reach USD 12.7 Billion with Growing CAGR of 10.50% from 2018 to 2023. In-Vitro Fertilization is the process of artificially bringing about pregnancy in a couple who are unable to conceive by natural means, for whatever reason. The growing prevalence of infertility problems around the world is likely to be a major driver for the global In-Vitro Fertilization (IVF) Market over the forecast period. The rising prevalence of lifestyle factors such as sedentary lifestyles and smoking has led to an increase in the prevalence of infertility conditions over the last few decades. This has driven the demand from the in vitro fertilization market and is likely to remain the prime driver for the market over the forecast period.
In-Vitro Fertilization (IVF) Market to be driven by growing demand for delayed pregnancies and growing prevalence of Infertility Conditions. The report presents the global in vitro fertilization market’s historical trajectory in the form of figures and statistics, while the report also provides readers with solid projections about the market’s likely growth trajectory over the forecast period. The leading segments and key players in the global in vitro fertilization market are also profiled in the report in order to provide readers with a detailed picture of the market’s internal landscape.
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Government support to the in vitro fertilization market in developed regions such as the U.S. and Europe has been vital for the market’s growth. The establishment of proper regulatory protocols has resulted in the easy availability of in vitro fertilization procedures across regions such as North America and Europe. The socioeconomic factors in these regions are driving a drop-in birth rates and a desire to wait for longer before having a child. Trends such as these are likely to drive the in vitro fertilization market over the forecast period. The increasing social acceptance of artificial fertilization technology in developing regions is also likely to be a key driver for the global in vitro fertilization market over the forecast period.
Leading players in the global in vitro fertilization market include Cooper Surgical Fertility, Oxford Gene Technology, INVO Bioscience, Genea Limited, Vitrolife, Irvine Scientific, Thermo Fisher Scientific, Merck KGaA, and Cook Medical.
The global IVF market is segmented on the basis of product, type, end user, and region in the report.
On the basis of product, the global IVF market is segmented into devices and reagents, with the devices segment being further sub-segmented into imaging systems, sperm separation systems, ovum aspiration pumps, cerosystems, and micromanipulators, and the reagents segment being subdivided into embryo culture media, cryopreservation media, sperm processing media, and ovum processing media.
On the basis of type, the global IVF market is segmented into intrauterine insemination, in vitro fertilization, intracytoplasmic sperm injection, and IVF using donor eggs.
On the basis of end user, the global in IVF market is segmented into fertility clinics, hospitals, and clinical research centers.
Regionally, the global in vitro fertilization market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
North America and Europe are likely to be the major regional segments of the global in vitro fertilization market over the forecast period due to the rapid adoption of IVF procedures in these highly advanced regions. The increasing ease of availing in vitro fertilization procedures is also likely to be one of the major drivers for the market in these regions over the forecast period. The growing healthcare sector in these regions is likely to further drive the in vitro fertilization market over the forecast period, as increasing investment is likely to be made in the field. The increasing age of motherhood in these regions is also likely to be a major driver for the global in vitro fertilization market over the forecast period.
Emerging economies in Asia Pacific, Latin America, and the Middle East and Africa have lagged behind the developed global superpowers when it comes to the growth of the in vitro fertilization market but are likely to make steady progress in the coming years. The increasing acceptance of in vitro fertilization by the societies in these regions is likely to be vital in the growth of the global in vitro fertilization market over the forecast period.
In February 2019, the Costa Rican Social Security Fund invested USD 2.3 million in a new in vitro fertilization center.
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