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Infertility Treatment Devices Market - Growth, Trends, and Forecasts (2023-2028)

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  • 113 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4896263
UP TO OFF until Sep 30th 2023

Quick Summary:

In a world experiencing significant lifestyle changes, unique health challenges, and an uptick in conditions such as Polycystic Ovary Syndrome (PCOS), the infertility treatment devices market stands as an increasingly vital sector. A clear correlation exists between these societal shifts and the rise in cases of infertility, triggering a growing demand for tools and techniques that address this sensitive issue.

This indispensible research report offers a strategic overview of the crucial trends steering the infertility treatment devices market, underlining the pivotal role played by fertility clinics and pinpointing emerging trends in key geographies like North America. It spotlights cutting-edge developments from leading market players and influential research institutions, providing the reader with a comprehensive market analysis. However, it also reminds us of critical market hindrances, such as high procedure costs and potential medical risks, encouraging a balanced perspective. This report is an essential tool for understanding this complex, fast-evolving market.

The infertility treatment devices market is poised to grow at a CAGR of 5.43 % during the forecast period.

COVID had a significant impact on the studied market. Various studies and articles have been published on the impact of COVID on in vitro fertilization (IVF). For instance, according to a research report published by PubMed Central in February 2021, SARS-CoV-2 is alleged to interfere with ART operations and disrupt female fertility via controlling ACE2. Consequently, it was anticipated that the pandemic would have an impact on market growth; however, with the decline in COVID-19 cases and widespread vaccination, it is anticipated that the studied market will once again reach its full potential over the forecast period.

The major factors attributing to the growth of the infertility treatment devices market are significant changes in lifestyle which contributed to the rise in infertility and the prevalence of conditions such as Polycystic Ovary Syndrome (PCOS). Also, a constant increase in the incidence of infertility in both sexes is projected to drive the market.

For instance, according to the data published by PubMed Central in June 2022, it was reported that South Korea showed the greatest decline in the fertility rate among the entire OECD countries over the last 30 years. The article also stated that the Korean government recognized the importance of healthy pregnancy and childbirth under these circumstances and implemented policies to raise the low fertility rate and support childbirth at advanced maternal by implementing ‘The Fourth Basic Plan on Low Fertility and Aging Society’ in 2021. Hence, a low fertility rate would increase the demand for in vitro fertilization and will increase market growth.

Furthermore, various development by market players and research institutes around the world are also contributing to the growth of the market. For instance, in March 2022, a few researchers from the Florida Atlantic University's College of Engineering and Computer Science developed a microfluidic chip-based device for sperm sorting that is fast, inexpensive, easy to operate, and efficiently isolates healthy sperm directly from semen. It effortlessly collects sorted sperm cells from the collecting chamber while minimizing contamination by deformed or dead sperm cells.

Thus, the abovementioned factors such as various development by market players and research institutes and low fertility rate are expected to increase market growth. However, the lack of availability to people due to the higher cost of IVF procedures and the possible risk of the baby being born with birth defects, risks of infections, and unfavorable scarring are expected to hinder the market growth.

Key Market Trends

Fertility Clinics Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Fertility clinics are specialty clinics that help people with their reproductive issues. Factors such as increasing the success rate of infertility treatment procedures, product launches, and opening of new facilities are expected to increase market growth. Due to the high procedure success rate and ongoing improvement, the studied segment is anticipated to experience growth.

For instance, according to an article published by Outlook India in July 2021, between 2,00,000 - 2,50,000 IVF procedures are performed in India each year, and the fertility market may experience 20% compound annual growth over the past five years. In-vitro fertilization is therefore anticipated to experience significant expansion during the predicted period. Moreover, the declining fertility rate is also a major factor that will lead to the growth of the segment.

Similarly, product launches are expected to increase segment growth as advanced products available in fertility clinics are expected to increase the footfall in the facility. In May 2022, Cook Medical launched the next-generation MINC+ benchtop incubator in the United States and Canada. The latest version of MINC incorporates the DishTrace platform, which combines capabilities for a variety of dish-data management tools through the touchscreen interface and a PC software program. With DishTrace, users may monitor up to 50 MINC+ incubators, follow culture dishes as they are checked in and out of the incubator, access, and log information through the system's touchscreen, and generate and view graphical histories and reports of MINC+ activities.

Moreover, the launch of fertility clinics is another factor in the growth of the market. For instance, in September 2021, Sakra World Hospital began offering infertility treatments, creating personalized treatment regimens for each patient. Such factors would spur market expansion in the near future.

Thus, the abovementioned factors such as the increasing success rates of infertility treatment procedures, declining fertility rate, and increasing product and fertility clinic launches are expected to increase the segment growth.

North America is Expected to Hold a Significant Share of the Market Over the Forecast Period

The North American region is expected to hold a significant market share in the studied market due to the increasing infertility rate and the need for external support in the region. For instance, according to the data published by CDC in March 2022, it is estimated that in the United States, among heterosexual women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women in this group have difficulty getting pregnant or carrying a pregnancy to term. As a result, the market will continue to expand favorably.

The low fertility rate in Canada is also a major factor driving the growth of the market in the region. For instance, according to the data updated by Statistics Canada in September 2022, the fertility rate in Canada declined drastically during the last 5 years, and it stood at 1.43 children per woman in 2021 which is way below the standard of 2.1 children per woman.

Awareness programs in the region are another factor in market growth. For instance, in June 2022, Organon Canada, a subsidiary of Organon, a global women's healthcare company, highlighted the importance of access to reproductive healthcare through listening to and empowering aspiring parents during World Infertility Awareness Month. The company aims to acknowledge and bring light to the barriers to fertility and help break down barriers to fertility.

Similarly, in April 2022, Inception Fertility initiated 'The Faces of Fertility,' a campaign to highlight the multidisciplinary team of specialists within Inception's clinical network who use education, science and technology, lab skills, and a compassionate approach to providing exceptional care throughout each patient's journey, in honor of National Infertility Awareness Week.

Thus, the abovementioned factors such as low fertility rate and increasing awareness programs about infertility are expected to increase the market growth.

Competitive Landscape

The infertility treatment devices market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are vigorously making acquisitions with other companies to consolidate their market positions across the globe and while others are distributing products. Some of the major players in the market are CooperSurgical Inc, Hamilton Thorne Inc, Dxnow (ZyMōt Fertility, Inc.), Cook Medical Inc, and Vitrolife among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Infertility and Prevalence of Conditions Such as Polycystic Ovary Syndrome (PCOS)
4.2.2 Increased Incidences of Infertility In Both Sexes
4.3 Market Restraints
4.3.1 Lack of Availability to People Due to Higher Cost of IVF Procedures
4.3.2 Possible Risk of Baby Being Born with Birth Defects, Risks of Infections and Unfavorable Scarring
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Sperm Separation Devices
5.1.2 Ovum Aspiration Pumps
5.1.3 Sperm Analyzer Systems
5.1.4 Micromanipulator Systems
5.1.5 Incubators
5.1.6 Cryosystems
5.1.7 Imaging Systems
5.1.8 Microscopes
5.1.9 Others
5.2 By End-user
5.2.1 Fertility Clinics
5.2.2 Hospitals & Other Healthcare Facilities
5.2.3 Clinical Research Institutes
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 AB Scientific Ltd
6.1.2 Cook Medical Inc
6.1.3 CooperSurgical Inc
6.1.4 Dxnow (ZyMot Fertility, Inc.)
6.1.5 Eppendorf Ag
6.1.6 Esco Micro Pte Ltd
6.1.7 Hamilton Thorne Inc
6.1.8 Ivftech Aps
6.1.9 MedGyn Products
6.1.10 Merck KgaA
6.1.11 Rocket Medical Plc
6.1.12 Vitrolife

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AB Scientific Ltd
  • Cook Medical Inc
  • CooperSurgical Inc
  • Dxnow (ZyMōt Fertility, Inc.)
  • Eppendorf Ag
  • Esco Micro Pte Ltd
  • Hamilton Thorne Inc
  • Ivftech Aps
  • MedGyn Products
  • Merck KgaA
  • Rocket Medical Plc
  • Vitrolife