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Vitrification Market – By Product Type (Devices [Open System, Closed System], Kits, Reagents), Specimen (Embryos, Oocytes, Sperms), End-use (IVF Clinics, Biobanks) – Global Forecast 2024 2032
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Vitrification Market
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Premium Report Details
Base Year: 2023
Companies covered: 13
Tables & Figures: 242
Countries covered: 22
Pages: 120
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Vitrification Market Size
Vitrification Market size was valued at USD 7.9 billion in 2023, growing at a CAGR of 10.1% between 2024 and 2032. Vitrification is a rapid freezing technique used in cryopreservation to convert a liquid into a glass-like solid without the formation of ice crystals. This method is particularly valuable in preserving biological specimens such as embryos, oocytes, and stem cells, as it minimizes cellular damage during the freezing and thawing processes.
Further, vitrification maintains the integrity and viability of the preserved materials, making it a preferred technique in fields such as reproductive medicine and biotechnology. The market is experiencing dynamic growth driven by increasing demand for advanced cryopreservation techniques in fertility treatments. The WHO estimates that 60 to 80 million couples globally experience infertility. Southern and Eastern Europe, along with East Asia, have some of the lowest fertility rates, averaging 1.5 children per woman. Similarly, it is observed that the use of assisted reproductive technology (ART) has grown by 5% to 10% annually.
This rise in ART has led to increased demand for fertility treatments, thereby boosting the need for in vitro fertilization (IVF) services. Thus, the rising demand for infertility treatments strengthens the need for the vitrification method, thereby driving market growth. Additionally, the growing focus on biobanking and regenerative medicine further fuels market expansion, as vitrification is crucial for the long-term storage of biological specimens.
Vitrification Market Trends
The growing awareness and acceptance of IVF as a solution for infertility has been a key driver in the expansion of the market. As more individual become informed about IVF as a viable option, the demand for effective fertility preservation techniques such as vitrification, has surged. Also, vitrification enhances the success rates of IVF by preserving oocytes and embryos with minimal cellular damage. Thus, the increasing acceptance and adoption of IVF have fuelled the need for advanced cryopreservation methods, thereby propelling the growth of the market.
Thus, the rising awareness and the proven benefits of vitrification in improving IVF outcomes have been instrumental in driving the expansion of this market.
Vitrification Market Analysis
Based on the product type, the market is classified into devices, kits, and reagents & consumables. The devices segment dominated the market with a revenue of USD 3.7 billion in 2023.
Based on the specimen, the global vitrification market is classified into embryos, oocytes, and sperms. The oocytes segment dominated the market with a market share of 47.9% in 2023.
Based on the end-use, the global vitrification market is classified into invitro fertilization clinics, and biobanks. The invitro fertilization clinics segment is expected to reach USD 10.7 billion by end of 2032.
In 2023, the U.S. held the highest market revenue of USD 3.4 billion in the North American vitrification market and is expected to dominate throughout the forecast period.
Germany is expected to hold a prominent position in the European vitrification market holding a substantial share in 2023.
The Asia Pacific vitrification treatment market is expected to grow with a significant CAGR of 10.6% during the forecast period.
Vitrification Market Share
The market is characterized by the presence of key players focusing on developing advanced technologies and expanding their market reach. The major key players lead the market with their comprehensive portfolios of vitrification devices, kits, and consumables. These companies compete based on product innovation, regulatory approvals, strategic collaborations, and geographical expansion. Additionally, emerging players are gaining traction by introducing novel solutions and enhancing offerings in the rapidly evolving field of cryopreservation.
Vitrification Market Companies
Prominent players operating in the vitrification market are as mentioned below:
Vitrification Industry News:
The vitrification market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:
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Market, By Product Type
Market, By Specimen
Market, By End-use
The above information is provided for the following regions and countries: