In Vitro Fertilization Industry Overview
The global in vitro fertilization market size is expected to reach USD 37.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.72% from 2023 to 2030. The market is driven by the continuous efforts of the market players, government initiatives to make available better reimbursement policies, and an increase in the incidence of infertility due to lifestyle changes. The expansion of fertility procedures such as ICSI for treating infertility is expected to positively impact market growth in the near future.
In Vitro Fertilization Market Segmentation
Grand View Research has segmented the global in vitro fertilization market based on instrument, procedure type, end-use, and region:
Based on the Instrument Insights, the market is segmented into Disposable Devices, Culture Media, Capital Equipment
- The culture media segment dominated the market for IVF and accounted for a revenue share of more than 40.0% in 2022. This growth was credited to the factors, such as the availability of funding and an increase in research activities to improve the culture media. On the other hand, as industry players are introducing disposable devices, such as needles, slides, and chambers, to meet the sterility and regulatory requirements, Disposable devices are estimated to be the fastest-growing segment with CAGR of 5.33%.
- For instance, in May 2017, CrossBay Medical Inc. received U.S. FDA approval for its CrossBay IVF Embryo Transfer catheter set. The product has also received commercialization approval in Europe and China. CrossBay IVF Embryo Transfer Catheter Set is a sterile, disposable device that is used to transfer an in vitro fertilized embryo to the uterus.
Based on the Procedure Type Insights, the market is segmented into Fresh Donor Frozen Donor Fresh Non-donor and Frozen Non-donor
- The frozen non-donor segment led the IVF market and accounted for the largest revenue share of 47.7% in 2022. The segment is expected to register the fastest growth over the forecast period. Certain factors contributing to the high share are the cost-effectiveness as compared to fresh non-donor and the less-invasive nature of the procedure. The fresh non-donor segment accounted for the second-highest revenue share in 2021.
- The introduction of the vitrification process by the International Federation of Fertility Societies has made sperm donation possible even for HIV-positive patients. The process involves directly isolating the sperm from the plasma. ICSI allows individuals with azoospermia to conceive. As age increases, the chance of success with IVF decreases and is relatively low in women over 40 years of age. Hence, donor eggs are widely used in this section. The shared donor egg program allows single donors to donate eggs to more than one recipient, without compromising the fertility rate. This program is cost-effective for the recipient as well.
Based on the End-use Insights, the market is segmented into Fertility Clinics and Hospitals & Other Setting
- The fertility clinics segment dominated the market for IVF and accounted for the largest revenue share of more than 79.0% in 2021. The segment is likely to witness the fastest CAGR from 2022 to 2030. With a rise in demand for ART treatments, the number of fertility clinics and ART centers is increasing considerably.
- Several multispecialty hospitals offer infertility treatments, including IVF. Increased accessibility and availability of potential treatments can be attributed to a higher preference for hospitals for infertility treatments. The IVF treatments offered by hospitals are generally more expensive than fertility clinics. IVF treatments require highly skilled physicians and staff.
In Vitro Fertilization Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Geographical expansions, mergers, product innovations, and commercialization are the key strategies adopted by the market players. For instance, in July 2019, Vitrolife and Prime Tech entered into a collaboration agreement to design and market the Piezo technique for better Intracytoplasmic Sperm Injection (ICSI) procedure in human IVF globally except for Thailand, Japan, and Malaysia.
Some of the prominent players in the in vitro fertilization market include:
- EMD Serono Inc.
- Vitrolife AB
- Irvine Scientific
- Cook Medical Inc
- Cooper Surgical Inc.
- Genea Biomedx
- Thermo Fisher Scientific Inc.
- Progyny, Inc.
- Boston IVF
Order a free sample PDF of the In Vitro Fertilization Market Intelligence Study, published by Grand View Research.