In-vitro Fertilization (IVF) Services Market is Expected to Reach $11.3 Billion, Globally, by 2021 - Allied Market Resea
A new report by Allied Market Research, titled, "Global IVF Services Market - Country Analysis by Service Providers, Number of Cycles, Revenue, Market Share, Growth, Trends, and Forecast, 2014-2021", forecasts the global IVF market to reach $11.3 billion by 2021. United States would continue to lead the market through 2021 and would have 321.7 thousand IVF cycles performed in 2021. Globally, India is projected to register highest growth both in terms of number of cycles and revenue.
The key factors that influence the growth of IVF cycles include, delayed pregnancy; a factor that is increasingly gaining prominence in developed economies, rise in infertility rates and increase in healthcare expenditures. Moreover, growing acceptance of the 3-parent IVF technique further contributing to the market growth. These factors would facilitate the number of cycles performed to reach 3,122.2 thousands by 2021, globally. On contrary, stringent regulations, limited success ratio and high costs of treatment would limit the market growth. Active initiatives by government, such as IVF refund programs, donor egg IVF programs, development of cost-effective IVF techniques and increasing popularity of fertility tourism would spur the market growth.
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Fertility clinics and hospitals segment collectively contributed about three-fourth of the global market revenue in 2014. Such large share of these segments is attributed to their crucial role in providing the technologically advanced IVF treatment to couples seeking assistance for infertility treatment. Geographically, the United States, China, and India, collectively holds about 42% of the market (IVF cycles) share due to increased rate of infertility and practices of embryo banking cycles, rising fertility tourism, and delayed parenthood decisions. On the other hand, Turkey, Israel, Brazil, Mexico would emerge as key fertility tourism destinations during the forecast period mainly due to favorable government regulations and economic availability of skilled workforce and hospitality services.
Key findings of the study:
In India, fertility clinics and hospitals segment collectively accounted for about 4/5th of the revenue generated in 2014
Middle east accounted for about 65% revenue share of the LAMEA IVF market
The Asia-Pacific IVF market is expected to grow at a promising CAGR of 8.9% from 2015 to 2021 in terms of volume
China leads the Asia Pacific IVF market with about 44% volume share
Key players profiled in this report included Fertility and Gynecology Center, Monterey Bay IVF, Conceptions Reproductive Associates, Toronto Center for Advanced reproductive Technology Ltd., Liv Fertility Center in Puerto Vallarta, Klinikum Stuttgart, Heidelberg University Hospital, Clinique de la Muette, The Bridge Center, Sun Pharmaceuticals, Cadila Healthcare Ltd., LG Lifesciences, Vitrolife AB., EMD Serono, Inc., Thermo Fisher Scientific Inc., Genea Biomedx, Clinica Anglo Americana, Cyprus IVF Center Lifesure Fertility & Gynecology Center and others.
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