Originally published on Technavio:In Vitro Fertilization (IVF) Devices Market Analysis - North America, Europe, Asia, Rest of World (ROW) - US, UK, Germany, France, China - Size and Forecast 2024-2028**

 

The estimated growth of the In vitro fertilization (IVF) devices market is USD 411.62 million, with a Compound Annual Growth Rate (CAGR) of 7.67% between 2023 and 2028.

 

Fertility tourism destinations such as Israel, India, Russia, and Belgium are contributing to the market's expansion. Israel provides reimbursement for total IVF treatment costs for women below 45, whether married or single, for up to two children. India offers cost-effective fertility services with numerous skilled English-speaking medical professionals and around 300 fertility clinics. Notably, global IVF clinics like Bourn Hall Clinic have established branches in India, fostering the growth of fertility services and subsequently, the global market during the forecast period.

 

Market Size Forecast:

The global IVF devices market is projected to grow by USD 411.62 million, marking a CAGR of 7.67% between 2023 and 2028.

 

Segment Analysis:

Culture Media and Reagents Segment:

The culture media and reagents segment is expected to witness significant market share growth during the forecast period. Playing a crucial role in supporting embryo growth outside the human body, these substances create an environment mimicking conditions within the female reproductive tract. The segment, valued at USD 284.46 million in 2018, includes media for egg and sperm mixing, specialized microinjection culture media for Intracytoplasmic Sperm Injection (ICSI), and cryopreservation media for freezing embryos. These uses drive the growth of culture media and reagents, strengthening the global market.

 

End-user Analysis:

Fertility Clinics:

Fertility clinics, specialized in assisting couples with infertility, perform diagnostic tests and offer various treatment options. Semen collection and diagnostic tests are common procedures, contributing to the growth of this segment during the forecast period.

 

Hospitals:

Hospitals with fertility facilities are secondary contributors to the market, providing controlled environments for embryo growth and standard patient monitoring devices. The growth of this segment is influenced by significant multispecialty hospitals operating through government or private entities.

 

Regional Analysis:

North America is expected to contribute 43% to global market growth during the forecast period. A rising trend of infertility due to factors like delayed childbearing, lifestyle changes, and medical conditions has increased the demand for fertility treatments, driving the market in North America. The region's well-developed healthcare infrastructure, high medical care standards, and advanced technologies further contribute to market growth. North America attracts patients globally due to its advanced medical facilities and favorable regulatory environment, supporting clinical research and trials in reproductive technologies.

 

Key Market Players:

Companies implement strategies like alliances, partnerships, mergers, acquisitions, and geographical expansion. The report provides detailed analyses of 20 market companies, including Cook Group Inc., offering minic benchtop incubators, bakri postpartum balloons, and guardia embryo transfer catheters.

 

Market Drivers, Trends, Challenges, and Customer Landscape:

Key Market Drivers:

The rising prevalence of late parenthood drives market growth. Increased age of parenthood is a major factor leading to infertility problems. Late parenthood and its impact on fertility rates have propelled the expansion of the IVF devices market. Additionally, affordable treatment costs and liberal views in medical tourism countries attract individuals seeking fertility care.

 

Significant Market Trends:

Rapid technological advancements in IVF procedures enhance success rates, including innovations in embryo selection, time-lapse imaging, and cryopreservation techniques. Telemedicine and remote monitoring solutions, involving specialized monitoring devices, positively impact market growth.

 

Major Market Challenges:

Ethical and social concerns associated with IVF procedures hinder market growth. Ethical issues around third-party ART, including the selection and sale of reproductive materials, limit market expansion. Addressing these concerns is crucial for avoiding exploitation and ensuring the ethical practice of ART procedures.

 

Customer Landscape:

The market forecasting report covers the adoption lifecycle, focusing on innovators to laggards. Key purchase criteria and drivers of price sensitivity aid companies in evaluating and developing market growth strategies.

 

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The market addresses genetic problems and infertility challenges, providing solutions through conception techniques. IVF procedures involve various stages like ovarian stimulation, egg retrieval, and embryo culture, catering to delayed pregnancies and increased awareness. The market covers a range of devices and consumables, offering cost-effectiveness, convenience, and demand surge, driven by trained medical professionals.

The market report forecasts revenue growth globally, regionally, and at the country level. Analysis of the latest trends and growth opportunities from 2018 to 2028 is provided.

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