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(Publishing-NewsWire.com, September 02, 2021 ) IVF Services Market size is estimated to reach $25,563 million by 2026, growing at a CAGR of 9.3% over 2021-2026. IVF refers to as In vitro fertilization which is a type of assisted reproductive technology and are widely used technology in which the ovum is fertilized artificially in laboratory settings and then inserted into the uterus. The intrauterine injection of human chorionic gonadotropin helps to improve LBR, OPR, CPR, and IR after IVF cycles.
IVF is a process of fertilization that includes eggs extraction and sperm cell sample retrieval to form an embryo. IVF is assisted reproductive technology (ART) which works by removing eggs from a woman's body. Thawed IVF cycles are created in order to transfer to a uterus with the help of frozen embryo transfer (FET). Increasing number of infertility rate among women and growing technological advancement is the major factor driving the growth of this market.
Furthermore, increasing research and development activities in medical industry and increasing number of gestational carriers is set to further enhance the overall market demand for IVF Services Market for the period 2021-2026.
IVF Services Segment Analysis – By Cycle Type
The global IVF Services Market based on Cycle Type can be further segmented into Fresh IVF Cycle, Donor-Egg IVF Cycle, and Thawed IVF Cycle. The Fresh IVF Cycle segment is the major segment generating revenue in 2020. This is mainly owing to less expensive treatment and also provide successful pregnancy. Moreover, Fresh IVF Cycle does not require intensive hormone injection treatment that increases the growth of this market.
The Donor-Egg IVF Cycle segment is estimated to register the fastest CAGR of 2.5% for the period 2021-2026. This is mainly owing to it provides more successful rate without using their own egg that increasing the growth of this segment.
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IVF Services Segment Analysis – By End-Use Industry
The global IVF Services Market based on End-Use Industry can be further segmented into Hospitals, Fertility Clinics, and Others. The Hospital segment registers for the highest IVF Services market share in 2020. This is owing to easy accessibility of hospital and higher selling capacity. Moreover, owing to availability of IVF technology patients can prefer hospitals and government is taking initiatives to increase the availability of this technology in hospitals that increases the growth of this market.
The Fertility Clinics segment is estimated to register the fastest CAGR of 2.15% over 2021-2026. This is mainly owing to rising research and development and increasing availability of IVF technology that needs human chorionic gonadotropin and are increasing the growth of this market.
IVF Services Segment Analysis – By Geography
North America dominated the IVF Services Market with major share of 40% in 2020. This is owing to increasing prevalence of risk factors such as obesity, stress, polycystic ovarian syndrome (PCOS), sexually transmitted infections, high healthcare expenditure and increasing favorable reimbursement policies. According to Centers for Disease Control and Prevention, in 2018 obesity rate increases by 42% that increases the risk factors in U.S. and are increasing the demand of IVF Services Market.
However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 4.65% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.
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IVF Services Market Drivers
Increasing Number of Infertility Rate
Increasing number of infertility rate among women owing to increase in stress levels, changes in lifestyle, and incidence of fertility-related diseases are increasing the growth of the IVF Services Vaccines Market. Moreover, infertility rate reduces the process of fertilization that needs sperm cells are increasing the growth of the IVF Services Market over 2021-2026.
Growing Technological Advancement
Technological advancements in the field of IVF technology, improvement in the research of fertilization, and rise in private & public healthcare investments increases the growth of this Market. Moreover, the increasing adoption of assisted reproductive technology (ART) and Thawed IVF Cycles helps to increase the successful rate and are increasing the growth of IVF Services Market over 2021-2026.
COVID-19 pandemic had greatly affected the IVF Services Market. During pandemic, governments had imposed strict lockdown regulations and also patients and physicians postponed or canceled all embryo transfers and are negatively impacted the growth of this market.
IVF Services Market Challenges
Less Awareness Towards IVF Technology
The factors that is set to impede the growth of the IVF Services Market are the less awareness towards IVF technology among people. Moreover, high cost associated with IVF treatment is set to create hurdles for the IVF Services Market.
IVF Services Market Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the IVF Services Market. IVF Services top 10 companies include, Sun Pharmaceuticals Industries Ltd., Lab IVF Asia Pte. Ltd., LG Life Sciences, Merck, Bourn Hall Clinic, Morpheus Life Sciences Pvt. Ltd., Southend Fertility and IVF Centre, Nova IVI Fertility, Bloom Fertility Center, Manipalankur Andrology and Reproductive Medicine, and Cloudnine Hospitals.
In July 2019, Merck launches QBOX IVF that provides successful treatment and support healthcare professionals and are rising the growth of this market.
Geographically, in 2020, North America dominated the IVF Services Market owing to increasing prevalence of risk factors such as obesity, stress, polycystic ovarian syndrome (PCOS), sexually transmitted infections, high healthcare expenditure and increasing favourable reimbursement policies.
Increasing number of infertility rate among women and growing technological advancement are likely to aid in the market growth of the IVF Services.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the IVF Services Market report.
Less awareness towards IVF technology is set to create hurdles for the IVF Services Market.
Related Reports :
A. Fertility Testing Devices Market
B. Male infertility Treatment Market
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