Certain major factors driving the size of the IVF market are increases in the median age of first-time motherhood, decreasing fertility rates, rising male infertility, alcohol consumption and smoking cigarettes.
Culture media set to have the major share of revenue on the In-Vitro Fertilization (IVF) market due to high government support, increased research activities to improve crop media, and the ability to conserve sperm without decreasing efficiency.
Further, owing to the sheer target population in developing countries such as China, India and Japan, it provides low healthcare costs relative to developed regions, and advanced technology availability.
However, the high cost of IVF treatments, the increased age of couples are the major factor challenging the In-Vitro Fertilization (IVF) treatment adoption.
Regional aspects of In-Vitro Fertilization (IVF) Market
Asia Pacific and Europe to dominate the major market share during the estimated time period followed by North America and others.
In Asia Pacific, due to growth in the median age of first-time motherhood, increased rates of pregnancy, increased prevalence of PCOS, increased incidence of obesity, increased fertility tourism and policy measures, attributed to driving market growth.
As Europe is the first region to come up with the in-vitro fertilization procedure, to remove the title experimental from cryopreservation of eggs, and the mitochondrial transfer technique in order to impact positively to the market.
Germany, France, and U.K. are the major subsidizing countries in the European region. The Nordic countries, Belgium, Iceland and others have the highest ART availability in terms of cycles per million populations.
Further, North America to observer increase in demand for the fertility treatment owing to the use of High-Resolution Next Generation Sequencing (HR-NGS) techniques.
COVID-19 to halt the market share during the estimated time period
Precautions and safety measures by key troupes to embrace and the development of the In-Vitro Fertilization (IVF) market due to COVID-19 pandemic.
For instance, in 2020, The American Society for Reproductive Medicine (ASRM) issued new guidelines advising its more than 8,000 members to avoid starting new treatment cycles of in vitro fertilization (IVF).
Recently, Israel’s Health Ministry suspended all new in vitro fertilization (IVF) treatments as well as some already in process in light of the ongoing coronavirus pandemic.
Further, in 2020, Embryo Research suggests the approach to offer couples a simpler, less expensive way for some couples to have healthy children than is currently available via IVF
In addition, in 2019, an FDA-approved fertility treatment INVOcell offered at Main Line Fertility, costs roughly 40 percent less than traditional In-Vitro Fertilization.
Moreover, in 2019, Fertility tech startup Mojo announced a €1.7 million (~$1.8M) seed round of funding led by Nordic seed fund Inventure.
Additionally, in 2019, Vitrolife acquired Virtus Health to develop AI-based software for healthcare application.
Major key players contributing in the In-Vitro Fertilization (IVF) Market include CooperSurgical, Inc., Vitrolife AB, Cook Medical, Inc., Irvine Scientific, Thermo Fisher Scientific Inc., EMD Sereno Inc., Genea Limited, Esco Micro Pte. Ltd., IVFtech ApS, and The Baker Company, Inc. among others.