In Vitro Fertilization Market Size, Share, Growth Analysis, By Cycle(Fresh Donor, Fresh Non-Donor, Frozen Donor, and Frozen Non-Donor), By End-user(Fertility Clinics & IVF Centers, Surgical Centers, Hospitals, Research Institutes), By Procedure(Conventional IVF, IVF with ICSI, Minimal IVF, IVF with Donar Eggs), By Product(Equipment (Microscopes, Sperm Analyzer Systems, Imaging Systems, Ovum Aspiration Pumps), By Region - Industry Forecast 2024-2031

Global In Vitro Fertilization Market size was valued at USD 24.20 Billion in 2022 and is poised to grow from USD 26.09 Billion in 2023 to USD 47.54 Billion by 2031, at a CAGR of 7.79% during the forecast period (2024- 2031).

The global In vitro fertilization market is characterized by the presence of several key players, including fertility clinics, medical device manufacturers, pharmaceutical companies, and genetic testing laboratories. These companies compete based on factors such as product offerings, technology advancements, success rates, pricing, and geographical presence. Here is an elaboration on the competitive landscape of the IVF market. Companies in the IVF market also engage in strategic initiatives such as mergers and acquisitions, partnerships, and collaborations to expand their product portfolios, enhance their geographic presence, and strengthen their research and development capabilities. They also invest in technological advancements, such as time-lapse imaging systems, embryo selection algorithms, and cryopreservation techniques, to improve success rates and patient experience. 'Vitrolife AB (Sweden) ', 'Cook Medical (US) ', 'Merck KGaA (Germany) ', 'Thermo Fisher Scientific, Inc. (US) ', 'Esco Micro Pte Ltd (Singapore) ', 'Genea Limited (Australia) ', 'Ferring Pharmaceuticals (Switzerland) ', 'Hamilton Thorne, Inc. (Canada) ', 'Nidacon International AB (Sweden) ', 'Rocket Medical plc (UK) ', 'EMD Serono (US) ', 'Kitazato Corporation (Japan) ', 'IVFtech Aps (Denmark) ', 'Zeiss Group (Germany) ', 'Labotect GmbH (Germany) ', 'Esco Medical (Singapore) ', 'The Baker Company, Inc. (US) ', 'Boston IVF (US) ', 'Invitrocare Fertility Laboratories Pvt. Ltd. (India) ', 'EMD Serono, Inc. (US) ', 'Fujifilm Holdings Corporation (Japan)'

In 2021, there were significant advancements in reproductive technologies used in IVF procedures. For instance, the introduction of time-lapse imaging systems allowed continuous monitoring of embryo development, leading to improved selection and higher success rates. These advancements attracted more individuals and couples to undergo IVF treatments.

Rising Demand for Genetic Testing: In 2022, there was a growing trend towards the use of genetic testing techniques, such as preimplantation genetic testing (PGT), in IVF procedures. PGT allows the screening of embryos for genetic abnormalities before implantation, increasing the chances of successful pregnancies and reducing the risk of genetic disorders in offspring.

In 2022, Asia Pacific region is expected to witness a remarkable compound annual growth rate (CAGR) during the forecast period in the in-vitro fertilization (IVF) market. This growth can be attributed to several factors, including the large population base, rapidly declining fertility rates, increasing government initiatives focused on women, a growing preference for careers over starting a family among women, and increased awareness regarding fertility clinics and procedures. The region benefits from growing awareness of IVF, rising healthcare expenditure, and increased adoption of advanced reproductive technology. Additionally, the rise of medical tourism in the region is expected to impact the growth of the IVF market. countries like Japan and South Korea are facing declining population rates due to the increasing median age of first-time mothers. Women in these countries prioritize their careers and tend to delay starting a family during their 20s. This trend results in delayed marriages and pregnancies. Women over the age of 35 have a higher risk of miscarriage and stillbirth, which can lower the success rate of fertility treatments.