In Vitro Fertilization Market Size, Growth And Forecast Analysis
COVID-19 pandemic triggered the worldwide suspension of in vitro fertilization treatment; this had a profound impact on women in the 40-42 age group, resulting in 11.8% reduction in live births due to a six-month delay in IVF treatment and a 22.4% reduction due to a 12-month delay in treatment in UK. In India, 30 lakh people seek IVF every year, but only 5 lakh people undergo IVF procedures.
The success rate of fertilization with ICSI procedure and the growing utilization of the ICSI during IVF procedure are anticipated to boost the adoption of IVF with ICSI procedures, accelerating the growth of the segment during the forecast period.
The key factors propelling the growth of this market include an increase in the median age of first-time mothers, declining fertility rates, rising male infertility, rise in obesity rate and growing consumption of alcohol, and greater public awareness about infertility and the availability of treatment options.
𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=89198891
According to the data published by Australian Institute of Health and Welfare 2021, in Australia the average age of first-time mothers increased from 27.9 years in 2009 to 31.9 years in 2019. With the median age for first-time mothers increasing, a growing number of women are expected to face difficulties in conceiving naturally. In this scenario, an increasing number of women are forced to opt for IVF treatments; this is expected to drive the growth of the IVF market in the coming years.
The changing social scenario has resulted in an increasing number of older women seeking help from infertility clinics. The risk of complications in pregnancy and childbirth also increases with age. A woman aged 35 or above is 2.5 times more prone to have a miscarriage or stillbirth than a woman aged less than 35, whereas a woman aged above 40 is more than five times prone to have a miscarriage or stillbirth than a woman under 35 years of age.
The equipment segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the increasing number of IVF procedures and introduction of highly advanced IVF equipment by well-established manufacturers in the market.
Expansion of healthcare infrastructure and increase in disposable personal income, rising medical tourism in Asian countries, increasing healthcare expenditure, and growing awareness among people about infertility are supporting the growth of the in vitro fertilization market in the region.
Prominent players in this market are The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), FUJIFILM Irvine Scientific (US), Kitazato Corporation (Japan), and Hamilton Thorne Ltd. (US), among others.
The IVF with ICSI segment registered the highest growth rate of the in vitro fertilization market. The success rate of fertilization with ICSI procedure, and the growing utilization of the ICSI during IVF procedure are anticipated to boost the adoption of IVF with ICSI procedures, accelerating the growth of the segment during the forecast period.