In Vitro Fertilization Market Growth & Trends

The global in Vitro Fertilization Market size is expected to reach USD 37.4 billion by 2030, with a CAGR of 5.54% from 2024 to 2030, based on a new report by Grand View Research, Inc.The market’s growth can be attributed to the continuous efforts of the market players, an increase in the incidence of infertility due to lifestyle changes, and government initiatives to improve reimbursement policies. Expansion of fertility procedures, such as Intracytoplasmic sperm injection (ICSI) for treating infertility, is expected to have a positive impact on market growth.

A decline in the Total Fertility Rate (TFR) results from factors, such as behavioral shifts in society. These factors include a shift from rural to urban societies, increased age of the first pregnancy, postponement of marriage, increased employment, and lower marriage rates. In March 2020, in-person fertility treatments in the U.S. and Canada were suspended due to COVID-19 by the American Society of Reproductive Medicine and Canadian Fertility and Andrology Society. However, treatment is resumed in many countries with the ease of COVID-19 restrictions. The research findings published by the Obstetrics & Gynecology journal in January 2022 reported that COVID-19 vaccines wouldn’t harm IVF outcomes. This is expected to prove the uptake of IVF in eligible vaccinated individuals.

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In Vitro Fertilization Market Report

In Vitro Fertilization Market Report Highlights

• Based on procedure type, the frozen nondonor type segment dominated the market in 2023 owing to the growing demand for the number of IVF cycles with the aid of frozen nondonor procedures increasing as compared to other procedures
• Based on end-use, the fertility clinics segment dominated the market in 2023 owing to the rise in demand for ART treatments along with cost-effectiveness, availability of specialists, good relations with the egg & sperm banks, and minimal or no chances of hospital-acquired infections to drive the growth of the market
• Based on instrument, the culture media segment held the largest revenue share in 2023 owing to a rise in the number of research activities being undertaken to improve the efficiency of culture media along with an increase in government funding and organizational support for employees for egg/sperm freezing
• Europe held the largest market share in 2023 due to the growing adoption of advanced technologies, such as time-lapse microscopy by the clinics, availability of affordable treatment, and adherence to medical standards
• Asia Pacific is expected to witness increased demand for IVF owing to high demand for fertility treatments and implemented policies & initiatives to support IVF. In Japan, eligible couples can apply for co-funding for a maximum of three cycles with USD 1,920 for each cycle
• The developing countries in the Asia Pacific are undertaking legal reforms to promote treatment adoption in the region. For instance, in February 2020, the Government of India approved a bill to regulate clinics offering reproduction assistance services, including IVF, artificial insemination, and surrogacy
• In June 2021, the lower house of parliament in France officially passed a law granting single women and lesbian couples access to medically assisted reproduction. This groundbreaking law marks a significant milestone, allowing these individuals and couples to receive fertility treatments, including IVF, at no cost
• In June 2023, Nova IVF Fertility, India’s second-largest infertility treatment chain, announced that they plan to reach 100 centers in the next four years through organic expansion and acquisitions

List of Key Players of In Vitro Fertilization Market

• Bayer AG
• Boston IVF
• Cook Medical LLC
• EMD Serono, Inc.
• Ferring B.V.
• FUJIFILM Irvine Scientific (FUJIFILM Holdings Corporation)
• Genea Biomedx
• EMD Serono, Inc. (Merck KGaA)
• Merck & Co., Inc.
• OvaScience, Inc.
• Progyny, Inc.
• The Cooper Companies, Inc.
• Thermo Fisher Scientific, Inc.
• Vitrolife