Vitrification Market Size, Share & Trends Analysis Report By Specimen (Oocytes, Embryo, Sperm), By End-use (IVF Clinics, Biobanks), By Region (Europe, Asia Pacific, MEA, North America), And Segment Forecasts, 2023 - 2030

Report Overview

The global vitrification market size was estimated at USD 7.10 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.74% from 2023 to 2030. Factors, such as increasing demand for Assisted Reproduction Technologies (ARTs), rising awareness about reproductive health, and an increasing number of service providers offering vitrification services, are projected to drive the global market growth. This technique has emerged as an improved method of cryopreservation owing to advantages over conventional slow-cooling techniques. Furthermore, its reliability and better yield have made it a preferred option for most IVF clinics in the current scenario. The COVID-19 pandemic negatively impacted the market in 2020.

The demand for IVF and vitrification dropped significantly due to the closing of nonessential and elective procedures. People had to postpone their treatments due to social distancing measures and lockdowns during the early phases of the pandemic. According to the Human Fertilization & Embryology Authority, from 2019 to 2020, Donor Insemination (DI) and IVF treatments decreased by 20% in the UK. In addition, fertility treatments and additional elective medical therapies were suspended across the UK on 15 April 2020. Artificial Reproductive Technologies (ART), such as IVF, have been proven successful, boosting the confidence & number of people seeking fertility preservation.

Thus, IVF and other ARTs complement the growth of the overall fertility preservation market. A study by BioMed Central Ltd. published in 2022 showed an upsurge in delayed childbearing. Many women are likely to delay childbearing beyond or until 30 years due to economic independence, career development, and higher education, which can boost market growth. In addition, the increasing trend of delaying childbearing/parenthood has produced commercial prospects for companies, such as Kindbody and Legacy, to provide cost-effective preservation solutions & services. For instance, Kindbody was founded in 2018 and gained investments from several enterprises, such as Perceptive Advisors and Morgan Health, a business unit of JPMorgan Chase & Co.

Major startups are launching value-added services, such as home services, attracting more clients for fertility preservation. Such strategies are expected to influence the market growth. Infertility has become more common as cancer incidence has increased. People with a higher risk of getting cancer are encouraged to seek egg preservation treatments for future usage, taking oncological mutations into account. This is due to the fact that cancer therapy medicines might impair fertility momentarily or permanently. To maximize the odds of future fertility, cancer therapists/oncologists recommend fertility preservation before beginning treatments such as radiation therapy, chemotherapy, or surgery, encouraging the use of vitrification products and services.

Specimen Insights

The oocytes segment held the largest share of 41.94% in 2022. The large revenue share of the segment is owing to the rising awareness among people for oocyte preservation and supportive government legislation. In recent years, governments across countries have made oocyte preservation a legal practice. Moreover, vitrification of oocytes in egg banks is an effective technique in ART. The sperm segment is expected to witness the fastest CAGR of 18.09% from 2023 to 2030. Advancements in 3D printing are likely to result in new approaches for manufacturing freezing devices.

For instance, according to the article published by the MDPI in August 2021, a 3D-printed vitrification device for Cryo-Vials (VDCV) can be used with small sperm volumes. Furthermore, studies are being conducted on a minimal-volume vitrification technique for IVF treatment. For instance, a journal article published by Oxford Academic in November 2018 showed that the innovative SpermVD sperm vitrification device is simple and effective for freezing a small number of spermatozoa in small-volume droplets, decreasing post-thaw time & providing a 96% recovery rate. Such advancements are major factors expected to boost market growth.

End-use Insights

On the basis of end-uses, the global industry has been further categorized into IVF clinics and biobanks. The IVF clinicssegment held the largest share of 59.96% in 2022. The large share of the segment is driven by the rising number of IVF clinics offering vitrification and other ART services. In addition, the clinics are offering services like sperm storage, egg storage, and oocyte storage, which is projected to propel the revenue share of clinics. The biobanks segment is expected to witness the fastest CAGR of 17.88% from 2023 to 2030.

With a shift from slow freezing of biospecimen to the use of vitrification technique, cryobanking of eggs, embryos, & sperm has significantly increased. The presence of a large number of biobanks has expedited the procedure of egg donation. The banks provide databases of egg donors, which enables those seeking IVF using donor eggs in making informed decisions. This is expected to increase the revenue share of biobanks in the market.

Regional Insights

Europe held the largest market share of 39.87% of the global vitrification market in 2022. This is due to the presence of developed economies, such as Germany, Spain, the UK, France, and Italy. These countries have advanced infrastructure, which is anticipated to significantly boost cryopreservation modalities in the region. Moreover, the market growth can be attributed to a growing biotechnology industry and rising investments in developing assisted reproduction technologies in countries, such as the UK & Germany. The regional growth is driven by the high burden of infertility and the growing demand for egg preservation among women.

Moreover, supportive government legislation for ART and various strategic initiatives undertaken by market players are further projected to drive regional market growth. Asia Pacific is expected to register the fastest CAGR of 18.97% from 2023 to 2030. The rising awareness and initiation of legal discussions on whether to legalize egg freezing for unmarried women in countries, such as China, are anticipated to increase the adoption of vitrification techniques in the coming years in the Asia Pacific region. Furthermore, the growing number of companies in Asia Pacific, such as Kitazato, Shenzhen VitaVitro Biotech, Cryologic, and Cryotech Lab, which offer vitrification devices, vitrification kits, & consumables, is an indicator of market growth in this region.

Key Companies & Market Share Insights

The continuous demand for vitrification techniques for multiple applications has created numerous market opportunities for major players to capitalize on. For instance, in June 2023, Fairtility launched CHLOE OQ. This launch encouraged patients and embryologists with oocyte quality insights for egg donation, egg freezing, and IVF applications.Some of the prominent players in the global vitrification market include:

• Vitrolife

• Genea Biomedx

• NidaCon International AB

• Minitube

• IMV Technologies Group (Cryo Bio System)

• The Cooper Companies, Inc. (A CooperSurgical Fertility Company)

• FUJIFILM Corporation (FUJIFILM Irvine Scientific)

• Biotech, Inc.

• Kitazato Corporation

• Shenzhen VitaVitro Biotech

Vitrification Market Report Scope

Global Vitrification Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, grand view research has segmented the global vitrification market report based on specimen, end-use, and region:

• Specimen Outlook (Revenue, USD Million, 2018 - 2030)

  • Oocytes

    • Devices

    • Kits & Consumables

  • Embryo

    • Devices

    • Kits & Consumables

  • Sperm

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • IVF Clinics

  • Biobanks

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait