Home > Pressrelease > IVF Services Market size to exceed $17.3bn by 2025
IVF Services Market size to exceed $17.3bn by 2025
- Published Date: June 25, 2019
IVF Services Market size is set to exceed USD 17.3 billion by 2025; according to a new research study published by Global Market Insights Inc.
Rising awareness about assisted reproductive technology will highly impact in-vitro fertilization (IVF) services in the future. Additionally, government initiatives to promote IVF services will impact market growth. For instance, Matritva Vandana Yojana is a scheme to finance fertility treatment introduced by the government of India in the year 2016. Hence, such initiatives will augment market growth.
Increasing prevalence of infertility issues will significantly contribute to IVF services market growth in forthcoming years. According to Centers for Disease Control and Prevention (CDC), approximately 12.1% of women aged between 15 to 44 face issues such as infertility and impaired fecundity. Factors such as late childbearing, heredity and frequently changing lifestyles are the major risk bearing factors that promote fecundity. Hence, aforementioned factors will propel market growth.
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However, high cost associated with IVF services in developed countries such as U.S. and Canada is a major growth restricting factor. Moreover, lack of advanced infrastructure in emerging economies will hinder market growth. Also, irregular reimbursement scenario, specifically in the developing economies will further limit IVF services market growth.
Browse key industry insights spread across 140 pages with 192 market data tables & 8 figures & charts from the report, “ 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
fertilization (IVF) segment accounted for a total value of USD 4.2 billion in 2018 and is expected to grow at a robust rate in the future. High growth is attributed to delayed pregnancies in women, rise in IVF success rates, surge in infertility rates, and increasing disposable income. On the other hand, increasing number of fertility clinics provide growth opportunities in the market thus, augmenting segmental growth.
People below the age of 34 years tend to opt for IVF services and is forecasted to grow at 6.7% across the forecast timeframe. Clinical evidence shows that treatment below the age of 34 offers the highest possible chance of success. Thus, people aged below 34 years show high adoption of IVF services.
Fertility centers are forecast to grow at considerable rate and accounted for market share of about 43.3% in 2018. Increasing demand for infertility treatment along with advancements in assisted reproductive technology will be the major drivers of fertility centers market growth. Moreover, increasing number of fertility clinics in developing economies will further offer growth opportunities.
U.S. IVF services market accounted for USD 2.7 billion in 2018. Growing awareness among the population about latest IVF services coupled with increasing government initiatives to encourage people to avail IVF treatments will significantly contribute to U.S. market growth. Moreover, increasing prevalence of infertility among the population will further boost IVF services demand.
Some of the key industry players operating in the global IVF services market are IVIRMA Global, Ovation Fertility, AVA Clinic Scanfert, Bangkok IVF Center, Bourn Hall Fertility Clinic, Cardone & Associates Reproductive Medicine & Infertility, LLC, Nova IVI Fertility, Max HealthCare Pvt. Ltd., Morpheus Life Sciences Pvt. Ltd. and Nuffield Health. These industry participants emphasize on acquisitions and mergers, geographical expansion and novel service developments to strengthen their position in the market and gain competitive advantage over its peers.
In-vitro Fertilization services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
IVF Services Market by Procedure, 2014 – 2025 (USD Million)
IVF Services Market by Age Group, 2014 – 2025 (USD Million)
- Below 34
- 43 and above
IVF Services Market by End-use, 2014 – 2025 (USD Million)
- Fertility Centers
- Surgical Centers
The above information is provided for the following regions/countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa