The global vitrification market size was valued at USD 5.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 18.0% from 2020 to 2027. Expansions in fertility preservation techniques have prompted the development of vitrification. This new technique offers solutions for the preservation of specimens that not only reduce the preservation time but also minimizes the exposure to cryoprotectants. This has spurred the adoption of vitrification devices leading to lucrative revenue growth of the market. This area is considered as a booming business in reproductive and women’s health domains and is expected to grow at a double-digit rate. Delayed childbearing due to sociodemographic factors, including education/career goals, the growing impact of women’s empowerment movements, financial barriers, and lack of a partner is one of the key driving factors of the market.
This rising trend of delaying parenthood/childbearing has created commercial opportunities for companies, such as Dadi, Kindbody, Legacy, and others, to offer cost-effective preservation services. Key startups are introducing value-added services such as home services, tapping more customers to opt for fertility preservation. Such offerings are anticipated to positively influence the uptake of vitrification services.
In addition, legal acceptance of same-sex marriage and an increase in single parenthood in several countries have increased the demand for preservation of eggs and sperms, resulting in increased demand for vitrification services. Furthermore, companies such as Facebook, Apple, and Google are offering policies to cover the costs of egg freezing. The confluence of these factors is expected to boost market revenue.
The rising incidence of cancer has also resulted in increased infertility prevalence. Considering oncological mutations, people with a greater chance of developing cancer are advised to seek egg preservation treatment for future use. This is because cancer treatment drugs can hamper fertility temporarily or permanently. Cancer therapists/oncologists are suggesting fertility preservation before starting with treatments such as chemotherapy, radiation therapy, or surgery to increase the chances of fertility in the future, thereby driving the adoption of vitrification services and products.
Vitrification-based oocyte freezing accounted for the major revenue share of more than 40.0%. Vitrification is increasingly preferred for oocytes, as these possess a higher intracellular content. Moreover, slow freezing is likely to damage the intracellular content of the oocytes. In slow cooling, the risk of formation of ice crystals is higher; however, the advent of vitrification has effectively addressed this concern, thereby minimizing failure chances.
A substantial number of players are offering kits and consumables under this segment. For instance, the vitrification and warming media offered by KITAZATO CORPORATION has been implemented in over 1,500,000 clinical cases for oocytes and embryos across 90 countries and 2,200 assisted reproduction centers. Such a wide implementation of products has accelerated the revenue share of this segment in the past few years.
Embryo and oocyte freezing witnessed tremendous growth over the past years with the introduction of vitrification procedures, as it offers over 85.0% success rate. Although sperm vitrification has not yet been implemented in routine sperm preservation, its potential as a standard procedure is anticipated to expand for this specimen type.
The IVF clinics segment dominated the vitrification market and accounted for a revenue share with 65.3% in 2019 owing to the high usage rate of the vitrification technology in these end-use settings. The vitrification technology has significantly improved the reproductive health space concerning the success rate of IVF and the number of freezing cycles for oocytes and embryo. As more women and men are using vitrification to preserve their specimen for future use, the number of clinics providing this facility is also increasing.
Rising preference for the vitrification technique from the slow freezing of biospecimens has driven the cryobanking of eggs, embryo, and sperm. The presence of a substantial number of biobanks has facilitated the egg donation process. The banks offer databases of egg donors, which further aids informed decision making among individuals seeking IVF from donor eggs. This is anticipated to positively accelerate the revenue share of biobanks in this market.
Europe captured the maximum revenue share of 42.1% in 2019 in the market for vitrification owing to its well-established presence in the Assisted Reproduction Technology (ART) space. Furthermore, the presence of several numbers of key players in Europe has led to the estimated revenue share of this region. Following Europe, the U.S. market has shown significant growth in terms of sales and market penetration over the past years.
A substantial number of patients from emerging economies are seeking treatment in developed markets such as the U.S., contributing to the market revenue. For instance, in 2019, fertility clinics in the U.S. conducted egg freezing procedures for around 1,400 women from China, up from about 1,000 in 2018 and 500 in 2017. This is expected to greatly impact the market in the U.S.
Emerging economies such as China are recognized as key contributors to market growth, owing to the increasing number of couples interested in IVF in these economies. The couples are spending billions a year on fertility treatment in countries like China. Demand for such services has significantly spurred the IVF deals, thereby positively influencing this market.
The presence of an extensive distribution network for widespread presence across multiple countries coupled with extensive product portfolio has contributed to the wide presence of the key companies operating in the market. Companies have collaborated with distribution partners to expand their business footprint. Furthermore, emerging players in the market are trying to expand their geographical reach by mergers, collaborations, and co-marketing. For instance, Genea Biomedx has collaborated with Merck KGaA to mark its entry in the market in Europe. Similarly, Biotech INC and VitaVitro have partnered with the IVF store for product distribution in North America. Currently, commercial players are trying to dive into the emerging markets due to the spearheading growth demonstrated by those economies in the market. This is due to the presence of untapped potential coupled with the presence of the target population. Some of the prominent players in the vitrification market include:
Vitrolife
IVF Store LLC
Frozen Cell
Cook Medical Inc
Minitube
IMV Technologies
Coopersurgical Fertility And Genomic Solutions
Fujifilm Irvine Scientific
Biotech Inc.
Kitazato Corporation
Report Attribute |
Details |
Market size value in 2020 |
USD 6.9 billion |
Revenue forecast in 2027 |
USD 21.9 billion |
Growth Rate |
CAGR of 18.0% from 2020 to 2027 |
Base year for estimation |
2019 |
Historical data |
2016 - 2018 |
Forecast period |
2020 - 2027 |
Market representation |
Revenue in USD million and CAGR from 2020 to 2027 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Specimen, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
The U.S.; Canada; Germany; The UK; France; Spain; Italy; China; Japan; India; South Korea; Brazil; Mexico; South Africa |
Key companies profiled |
Vitrolife; IVF Store LLC; Frozen Cell; Cook Medical Inc; Minitube; IMV Technologies; Coopersurgical Fertility And Genomic Solutions; Fujifilm Irvine Scientific; Biotech Inc.; Kitazato Corporation |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope report, we will provide it to you as a part of customization |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global vitrification market on the basis of specimen, end-use, and region:
Specimen Outlook (Revenue, USD Million, 2016 - 2027)
Oocytes
Devices
Kits & Consumables
Embryo
Devices
Kits & Consumables
Sperm
End-use Outlook (Revenue, USD Million, 2016 - 2027)
IVF Clinics
Biobanks
Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
The U.S.
Canada
Europe
Germany
The U.K.
Spain
France
Italy
Asia Pacific
Japan
China
India
South Korea
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
b. The global vitrification market size was estimated at USD 5.83 billion in 2019 and is expected to reach USD 6.87 billion in 2020.
b. The global vitrification market is expected to witness a compound annual growth rate of 18.0% from 2020 to 2027 to reach USD 21.9 billion by 2027.
b. Oocyte freezing segment dominated the 2019 market with a revenue share of 42% owing to the presence of substantial available kits & consumables under this segment coupled with multiple benefits of rapid freezing over slow cooling in egg preservation.
b. Some key players in the market are Vitrolife, Biotech INC, KITAZATO CORPORATION, IMV Technologies, Minitube, Cook Medical Inc, Frozen Cell, and IVF STORE LLC., and Coopersurgical Fertility & Genomic Solutions.
b. Key drivers of the vitrification market are increasing demand for fertility preservation services due to delayed childbearing/parenthood, rising awareness about reproductive health, and increase in prevalence of infertility and infecundity.
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