PUBLISHER: Allied Market Research | PRODUCT CODE: 1566755
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566755
The IVF services market was valued at $19.6 billion in 2023, and is projected to reach $47.9 billion by 2033, growing at a CAGR of 9.3% from 2024 to 2033.
In vitro fertilization (IVF), also called as assisted reproductive technology, serves as the most effective type of fertility treatment that involves administration of medication to promote follicle growth. During the procedure, eggs are retrieved from the ovaries and fertilized with sperm in a laboratory. The fertilized eggs (embryos) are then transferred to the uterus.
The growth of the global IVF services market is driven by alarming rise in infertility cases due to increase in trend of delayed parenthood and desire to prioritize career pursuits. According to a study published by Cleveland Clinic, an American nonprofit academic medical center, infertility affects 186 million people worldwide, and the male partner is the cause in about 50% of the cases. Some studies reveal that male infertility affects about 10-15% of males in the U.S. Moreover, surge in prevalence of conditions such as fallopian tube damage or blockage, ovulation disorders, endometriosis, uterine fibroids, previous surgery to prevent pregnancy, issues with sperms, unexplained infertility, or genetic disorders boost the demand for IVF services. Furthermore, increase in government initiatives to address infertility issues notably contributes toward the market growth. For instance, the , the Centers for Disease Control and Prevention (CDC) developed the National Public Health Action Plan for the Detection, Prevention, and Management of Infertility in June 2014. This plan emphasizes the need to better understand and address issues that contribute to and are caused by infertility in women and men and that may affect the health of the pregnancy. However, high costs associated with the treatment and limited insurance coverage act as the key deterrent factors of the global market. On the contrary, technological advancements and improving healthcare infrastructure are expected to offer remunerative opportunities for the expansion of the global market during the forecast period. Moreover, increase in trend of fertility tourism allows patients choose IVF treatment overseas for more affordable options or access to cutting-edge methods, which is expected to open new avenues for the market growth in the coming years.
The IVF services industry is segmented into cycle type, end user, and region. On the basis of cycle type, the market is divided into fresh IVF cycle, Thawed IVF cycle, and donor egg IVF cycle. By end user, the market is divided into fertility clinics, hospitals, surgical centers, and clinical research institutes. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
Depending on cycle type, the fresh IVF cycles segment accounted for the largest share in 2023 in IVF services market.
On the basis of end user, the fertility clinics segment was the major shareholder in 2023.
Region wise, North America was the major revenue contributor in 2023 and is expected to dominate the market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major players in the global IVF services market include Mayo Clinic Fertility Center, Shady Grove Fertility Center, Reproductive Medicine Associates, Boston IVF, LLC., Colorado Center for Reproductive Medicine, pacific fertility center, Houston Fertility Institute, Columbia University Fertility Center, Cleveland Clinic Fertility Center, and Fertility Centers of Illinois. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
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