In Vitro Fertilization Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global in vitro fertilization market growth forecasted to transform from $949 million in 2024 to $1,650 million by 2029, driven by a CAGR of 11.7%. Key drivers include rising infertility rates, advanced median age of women in childbearing years, increased funding and research activities, and improved techniques in IVF treatments globally. On the other hand, high costs and strict regulatory policies might put a damper on market growth. Despite all these factors, continuous innovation in health technology shall further fuel demand for IVF treatment for quite a long period. Increased affluence and consequent economic growth, along with better healthcare infrastructure across developing countries, place IVF services within reach of more couples. Aside from these, there is the increasing trend of delayed parenthood because of lifestyle and career priorities.

In Vitro Fertilization Market Trends

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In vitro fertilization Market: Market Dynamics

Driver:  Growth in the median age at which women become pregnant

The median rising age at which women choose to start pregnancies greatly influences assisted reproductive technologies such as in vitro fertilization. The more a woman delays childbearing until later in life, the trouble she may have with fertility because of natural declines in reproductive function. IVF, in which eggs are fertilized outside the body before implantation into the uterus, becomes of increased relevance for older women desiring conception. Most women of advanced maternal age often have diminished ovarian reserve and poor quality of eggs; many of them resort to IVF to get pregnant. This trend only testifies to how extremely instrumental IVF has been in the extension of fertility options and realization of conception for women affected by age-related reproductive challenges.

Restraint: Possible risks associated with treatment through IVF

Patients should be made aware of associated risks with the treatment. Relating to OHSS, meaning that hormone injections for hyper-stimulation of the eggs in the ovaries could be swollen and ache, there is also an increased risk of multiple pregnancies since IVF typically involves the transfer of multiple embryos to increase the rates of success. These include risks for both mother and babies of raised rates, risks of ectopic pregnancy, and miscarriage. On the other hand, complications in the form of bleeding, infection, or injury to surrounding structures may be associated with the process of egg retrieval. Despite these risks, IVF is an effective option in wide application for couples suffering from infertility, in which careful monitoring and medical management are carried out to enable the minimization of probable complications

Opportunity: Opportunities for rise of IVF in developing nations

Growth opportunities in IVF treatment within developing countries are immense and varied. Since these countries are emerging towards technological and economic development, the demand for assisted reproductive technologies is increasing due to infertility problems. IVF clinics can use the improved health infrastructure and increased disposable income among the middle class to their advantage in providing more access to fertility treatments. There is a better probability that local expertise and treatment options will be further enhanced by international experts and technology providers. Evolving regulatory frameworks support the safe and ethical practice of IVF, stimulating investment and innovation in the sector. Such advancements in health outcomes not only improve health outcomes but also stimulate economic growth by creating jobs, attracting medical tourism, and further cultivating a supportive environment for biomedical research and development.

Challenge: Decreased effectiveness of fertility treatments in women of advanced age

Success rates for IVF treatments tend to decrease at advancing ages in women, usually after their mid-30s into their 40s. When a woman ages, her ovarian reserve will decrease, and thus, fewer numbers of viable eggs are made available for fertilization. This downward trend in both the number and quality of the eggs undoubtedly impacts the success rates of the IVF procedures. Older women are also more likely to have chromosomal abnormalities in the embryos, thereby lowering implantation rates and increasing miscarriage risks. Furthermore, advanced maternal age may increase the risk of side effects such as OHSS during the IVF process. Despite these, the scope for IVF is still paramount for older women aspiring to get pregnant and often needs more personalized modes of treatment and excellent medical care to increase the chances of successful pregnancy.,

In Vitro Fertilization Market Ecosystem

Major companies in this market include well-established and financially stable suppliers of In vitro fertilization. Prominent companies in this market include CooperSurgical inc.(US) Cook Medical Inc.(US) ,Vitrolife(Sweden) Thermo fisher scientific(US) ,Hamilton thorne ltd.(US) ,Esco micro pte. Ltd.(Singapore), Genea biomedx, (Australia), among several others.

IVF Equipemnts segment to register largest market share of the in vitro fertilization industry in the year 2023.

Based on the product, the in vitro fertilization market is segmented into: Imaging systems, Laser systems, Micromanipulators, Gas analyzers, incubators, cryopreservation systems, anti-vibration tables and others. The IVF Equipments segment is projected to register the largest market share during the forecast period of 2024-2029. The Equipment segment is further segmented into incubators, micromanipulators, microscopes, oosight imaging, and others. Demand for IVF drivers is heterogeneous and powerful. There has been a change in socio-economic norms, such as the trend of delaying parenthood for reasons of career and financial pursuit, leading to more couples seeking fertility treatment at an older age. Additionally, a growing recognition and acceptance of infertility as a medical issue, which reduced stigma and encouraged people to try various options like IVF.

Fertility clinics & IVF centres segment of the in vitro fertilization industry is the highest market rate end-user segment in the forecasted year 2024-2029.

The fertility clinics & IVF centres end user segment registers highest market rate in the forecasted year 2024-2029. This is the hub of IVF practice, impelled by a number of critical factors: hospitals and fertility clinics. These institutions offer specialized infrastructure and expertise required for the complex procedures of hormonal stimulation, egg retrieval, fertilization, and embryo transfer in IVF. Controlled environments are provided by them, essential for monitoring and optimizing each step involved in the process of IVF. Besides, hospitals and clinics upgrade themselves with the latest technology and equipment that maximize the efficiency of IVF treatment and their results line.

Asia-Pacific is expected to be the highest CAGR during the forecast period in the in vitro fertilization industry.

The APAC in vitro fertilization market has huge potential for growth. It is powered by an aging population and the increased availability of advanced equipment developed on account of growing demand within the APAC countries, such as microscopes, incubators, and gas analyzers. Moreover, APAC is also an upcoming hub of medical tourism, with many patients from around the world going to this region for better healthcare facilities and advanced in vitro fertilization treatments. Demographic changes, economic growth, and technological advances further strengthen the regional leadership in the market.

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As of 2022, prominent players in the market are CooperSurgical inc. (US), Vitrolife (Sweden), Cook Medical Inc. (US), Hamilton thorne ltd. (US), Thermo fisher scientific (US), Fujifilm irvine scientific (Japan), Nikon corporation (Japan), Esco micro pte. Ltd. (Singapore), Olympus (Japan), Kitazato corporation (Japan), Corning incorporated (US), Carl Zeiss AG (Germany), Fertipro NV (Belgium), Eppendorf (Europe), among several others.

Scope of the In Vitro Fertilization Industry:

This report has segmented the in vitro fertilization market to forecast revenue and analyze trends in each of the following submarkets:

By Product

• EQUIPMENTS
  • Imaging systems
  • Sperm separation systems
  • Ovum Aspiration Pumps
  • Micromanipulator systems
  • Gas Analyzers
  • Laser systems
  • Cryosystems
  • Cabinets
  • Anti-Vibration Tables
  • Witness Systems
  • Incubators
  • Accessories
• REAGENTS & MEDIA
  • Embryo culture media
  • Cryopreservation media
  • Sperm processing media
  • Ovum processing media

By Type of Cycle

• Fresh non-donor
• Frozen non-donor
• Frozen donor
• Fresh donor

By Procedure

• Conventional in Vitro fertilization
• In Vitro fertilization with icsi
• In Vitro fertilization with donor eggs
• Mini in Vitro fertilization
• Others

By End User

• Fertility clinics & IVF centers
• Hospitals & surgical centers
• Research institutes
• Cryobanks

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
• MEA
  • GCC Countries
  • Rest of Middle East & Africa
• Middle East & Africa

Recent Developments of In Vitro Fertilization Industry:

• In 2023, Hamilton Thorne Nederland BV completed the acquisition of Gynetics MP NV and Gynetics S, BV, expanding its operations into more profitable dealings within the mature European ART market.
• In 2023, Esco acquired CMT Materials, LLC and its affiliate Engineered Syntactic Systems, LLC, thereby including the critical equipment for the development and production of materials in order to further enhance the basket of products offered by Esco.
• In 2023, Vitrolife Group acquired the distribution operations of medical devices in Spain and Portugal. The Company expects this acquisition to increase the gross margin as it will help the Company retain full control over the pricing to end customers.

Frequently Asked Questions (FAQ):

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