Global In-Vitro Fertilization (IVF) Market (2023-2028) by Instrument, Technology, End-User, Geography, Competitive Analysis and the Impact of Economic Slowdown & Impending Recession with Ansoff Analysis

Various Policies That Promote Improved Insurance Coverage are Bound to Lower the Cost of IVF to Patients and Increase its Utilization

Introduction 

The Global In-Vitro Fertilization (IVF) Market is estimated to be USD 19.78 Bn in 2023 and is expected to reach USD 31.1 Bn by 2028, growing at a CAGR of 9.47%.

• In vitro fertilization (IVF) is a complex series of procedures used to help with fertility or prevent genetic problems and assist with the conception of a child. During IVF, mature eggs are collected from ovaries and fertilized by sperm in a lab.
• According to WHO, around 17.5% of the adult population -1 in 6 worldwide - experience infertility, increasing the demand for fertility treatments. The increasing prevalence of infertility is expected to drive the demand for IVF. The increase in prevalence is majorly due to people's hectic and sedentary lifestyles. In addition, an increase in the trend of delayed childbearing and growing medical conditions contribute to infertility, prompting individuals and couples to seek assisted reproductive technologies.
• Growing awareness about infertility and available treatment options, including IVF by the government and organizations, has further contributed to increased demand. The awareness of changing societal aspects has also contributed to the demand for IVF. As more individuals and couples seek to start or expand their families, IVF becomes attractive.
• However, the low success rate of IVF is majorly hindering market growth. Only 33% of people undergoing IVF get pregnant during their first IVF cycle. And by the eighth cycle, around 54-77% of women undergoing IVF get pregnant. In addition, the high cost of IVF procedures further impacts the market growth. 
• Advances in IVF techniques such as AI in IVF, Stem Cell Treatment, Laser Assisted Hatching, and Robotic Technology and Nanobots, including improved success rates, are expected to create market opportunities. 
• In cases where same-sex male couples or single individuals are involved, donor eggs and gestational surrogacy may be used to create embryos, offering these individuals or couples a chance to become parents, growing the IVF demand. 

The government approval of removing genetic abnormalities is expected to create opportunities for the market further. This testing allows the identification of genetic abnormalities or chromosomal disorders in embryos before they are transferred to the uterus. It can help reduce the risk of passing on certain genetic conditions to the offspring.

Market Segmentations

The Global In-Vitro Fertilization Market is segmented based on Component, Technology, Origin of Embryos, End-User, and Geography. 
By Component, the market is classified into Equipment and Reagent & Media. The Equipment segment is anticipated to hold the largest market share in the forecasting period due to the high cost of the equipment and the major component of In-vitro fertilization. IVF laboratories require specific equipment to support the various steps involved in the IVF process. This includes equipment for controlled incubation and culture of embryos. The demand for such equipment has risen with the increased demand for IVF procedures.

By Technology, the market is classified into Conventional IVF, Intracytoplasmic Sperm Injection (ICSI), Preimplantation Genetic Testing (PGT), and Others. Conventional IVF holds the major market share in the market since conventional IVF is the most commonly used form of assisted reproductive technology. Conventional IVF has a high demand due to its effectiveness in treating various causes of infertility, including ovulation disorders, blocked fallopian tubes, endometriosis, male factor infertility, and unexplained infertility.

By Origin of Embryos, the market is classified into Fresh Non-donor, Frozen Non-donor, Frozen Donor, and Fresh Donor. The Fresh Non-donor segment holds the major market share because it is the most common and accessible option for couples or individuals undergoing IVF treatment. It allows for a more personalized approach, utilizing the patient's eggs and sperm.

By End User, the market is classified into Cryobanks, Fertility Clinics, and Hospitals. The fertility clinics segment holds a major market share as they are specialized healthcare facilities that offer a wide range of reproductive services, including IVF treatments. These clinics are at the forefront of the IVF industry, providing comprehensive fertility care, from initial consultations and diagnostic testing to the actual IVF procedures. They are directly involved in conducting IVF cycles and providing the necessary expertise and support. In addition, increasing fertility clinics worldwide are expected to create opportunities for the segment. 

By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia Pacific region holds the largest market share in the forecasting period due to the large patient pool and increases in medical tourism in the region. Moreover, the increasing awareness and acceptance of IVF procedures are driving the demand for the IVF market in the APAC region. 

Recent Development

SymphonyAI acquired NetReveal from BAE Systems. This acquisition marks a significant step in SymphonyAI’s expansion strategy within the financial vertical. - July 2022
Software Ag announced an agreement to acquire StreamSets, a leader in data integration for the modern data stack. - Feb 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Corning Inc., Esco Micro Pte. Ltd., FUJIFILM Irvine Scientific, Inc., Hamilton Thorne, Inc., Irvine Scientific, etc. 

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas) 
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe) 
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA) 
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific) 

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. 

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global In-Vitro Fertilization Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach. 
• The publisher analyses the Global In-Vitro Fertilization Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. 
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth. 

Why buy this report? 

• The report offers a comprehensive evaluation of the Global In-Vitro Fertilization Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies. 
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies. 
• An Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies. 
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• The historical, current, and projected size of the market based on value and volume
• The market size of the US states 
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market