In-vitro Fertilization Services Market will hit USD 17 bn by 2025
U.S. in-vitro fertilization services market will achieve over 4% CAGR across the forecast period owing to increasing rate of infertility. According to Center for Disease Control and Prevention, about 6.1 million of U.S. women aged between 15 to 44 are facing infertility issues. Thus, increasing rate of infertility in U.S. will drive growth rate for in-vitro fertilization services business in forthcoming years.
India in-vitro fertilization services market is forecasted to reach USD 1.4 billion by 2025 due to increasing prevalence of infertility coupled with rising awareness pertaining to IVF procedures. According to Indian Society of Assisted Reproduction, currently 10 to 14% population of India is affected from infertility. Thus, higher rate of infertility will generate a strong opportunity for IVF services business in forthcoming years.
In-Vitro fertilization technique will witness immense growth at 7.8% during the forecast timeframe. Low cost and high success rate are some of the factors leading to market growth. The major advantage is achieving successful pregnancy and healthy child. It helps couples that are suffering from problems such as blocked tubes, old age, male infertility, premature ovarian failure etc. Thus, segment of in-vitro fertilization method will foresee significant growth over the projected years.
People between the age group of 35 and 39 will show high adoption rate of IVF services. According to American Society for Reproductive Medicine, women between age group of 35 and 39 have only 20% chance of getting pregnant. Hence women aged between 35 to 39 will prefer IVF services, thus leading to market growth in the future.
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Fertility center segment of in-vitro fertilization services market accounted for USD 4.6 billion in 2018 and will show significant growth over the projected timeframe. Fertility centers are highly preferred by patient due to facility provided and low rate of infection as compared to hospital. Moreover, fertility centers are comparatively more hygienic and well equipped with advance technologies. All these facilities lead to escalated demand for fertility center, thus leading to significant growth in upcoming years.
Some of the major market players involved in the IVF services market are IVIRMA Global, Ovation Fertility, Bangkok IVF Center, AVA Clinic Scanfert, and Bourn Hall Fertility Clinic among others. Firms are adopting business merger, acquisition and expansion strategies to increase their market footprint. For instance, in October 2014, Boston IVF has announced successful merger with Reproductive Science Center of New England.
Global In-vitro Fertilization Services Market is set to cross USD 17 billion by 2025; as per a new research report published by Global Market Insights, Inc. Rising infertility rate in male and female will foresee momentous growth of in-vitro fertilization services business over the projected years. Genetic defects and deficiency disorders are some of the major factors leading to infertility. Moreover, increasing rate of sexually transmitted diseases increases infertility rate, thus leading to higher adoption in-vitro fertilization services.