February 04, 2020
According to the report titled ‘In-vitro Fertilization Services Market Size By Procedure (In-vitro Fertilization, Intracytoplasmic Sperm Injection), By Age Group (Below 34, 35-39, 40-42, 43 and Above), By End-use (Hospitals, Fertility Centers, Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, Greece, Japan, China, India, Australia, South Korea, Argentina, Brazil, Mexico, Israel, Egypt), Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global in-vitro fertilization services market is expected to cross USD 17 billion by the year 2025.
Increasing prevalence of infertility in males and females is the key factor stimulating the growth of in-vitro fertilization services market. Genetic ailments and deficiency disorders, coupled with increasing cases of sexually transmitted diseases is increasing the risk of infertility, thereby encouraging the adoption of in-vitro fertilization (IVF) services. In addition, rising awareness regarding the benefits of IVF and inflowing government funding for improving assisted reproductive technology will boost the growth of in-vitro fertilization services market.
However, high cost of in-vitro fertilization procedures and the complications associated with them will hamper the in-vitro fertilization market growth during the forecast period. As per the sources, one cycle of IVF can cost around USD 12,000 to USD 15,000 and an additional cost of USD 3,000 for medication.
Based on the procedure type, in-vitro fertilization segment is expected to witness a growth rate of 7.9% over the projected timeframe. Affordability and high success rate are fueling the segmental growth. Increasing number of couples suffering from blocked tubes, male infertility, old age, and premature ovarian failure are opting for the IVF procedure.
In terms of the age group, in-vitro fertilization services market from 35-39 age group segment is expected to gain significant traction during 2019-2025. According to American Society for Reproductive Medicine, women in the 35-39 age group have only 20% chance of pregnancy, indicating their preference for IVF services.
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Speaking of the end-use spectrum, fertility centers segment was worth USD 4.6 billion in 2018 and is expected to grow substantially over 2019-2025, owing to rising inclination towards well-maintained healthcare facilities. These centers are hygienic and have advanced equipment.
Considering the regional outlook, U.S. in-vitro fertilization services market is expected to grow rapidly with 4.1% CAGR during the forecast period, on account of increasing infertility rate across the region. According to Center for Disease Control and Prevention, approximately 6.1 million of U.S. women aged between 15 and 44 are facing infertility issues. Likewise, India in-vitro fertilization services market is expected to reach USD 1.4 billion by the year 2025, owing to rising prevalence of infertility and growing consumer awareness regarding IVF procedures.
Some of the key players of in-vitro fertilization services market include IVIRMA Global, Bangkok IVF Center, Ovation Fertility, Bourn Hall Fertility Clinic, and AVA Clinic Scanfert among others.
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