In Vitro Fertilization Market Size To Reach $37.4 Billion By 2030

November 2023 | Report Format: Electronic (PDF)

In Vitro Fertilization Market Growth & Trends

The global in vitro fertilization market size is expected to reach USD 37.4 billion by 2030, with a CAGR of 5.54% from 2024 to 2030, based on a new report by Grand View Research, Inc. The market's growth can be attributed to the continuous efforts of the market players, an increase in the incidence of infertility due to lifestyle changes, and government initiatives to improve reimbursement policies. Expansion of fertility procedures, such as Intracytoplasmic sperm injection (ICSI) for treating infertility, is expected to have a positive impact on market growth.

The availability of genomic testing facilities that enable the prevention of the transfer of genetic disorders during in vitro fertilization (IVF) is expected to drive the IVF market. The insurance providers are providing coverage for IVF procedures owing to an increase in the number of IVF treatments. For instance, in May 2023, Pacific Blue Cross introduced an enhanced Personal Health Insurance, a health & dental plan, which incorporates family planning benefits, including coverage for fertility drugs, fertility treatments, and adoption. With this enhancement, Pacific Blue Cross became the first and only provider in Canada to offer family planning benefits as part of an individual health & dental plan. This led to competitive pricing and moderated IVF treatment costs. This procedure has been a successfully practiced technology, driving the market with more treatment automation and standardization.

A decline in the Total Fertility Rate (TFR) results from factors, such as behavioral shifts in society. These factors include a shift from rural to urban societies, increased age of the first pregnancy, postponement of marriage, increased employment, and lower marriage rates. In March 2020, in-person fertility treatments in the U.S. and Canada were suspended due to COVID-19 by the American Society of Reproductive Medicine and Canadian Fertility and Andrology Society. However, treatment is resumed in many countries with the ease of COVID-19 restrictions. The research findings published by the Obstetrics & Gynecology journal in January 2022 reported that COVID-19 vaccines wouldn't harm IVF outcomes. This is expected to prove the uptake of IVF in eligible vaccinated individuals.

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In Vitro Fertilization Market Report Highlights

  • Frozen non-donor segment dominated the market with largest revenue share in 2023 and is expected to witness fastest growth over the forecast period.

  • Fertility clinics segment dominated the market with largest revenue share in 2023 and is expected to witness fastest growth over the forecast period.

  • The culture media segment dominated the market with the largest revenue share of 40.9 % in 2023. This can be attributed to factors such as availability of funding and an increase in research activities to improve culture media.

  • Europe dominated the market with largest revenue share of 36.7% in 2023. This can be attributed to factors, such as a noticeable surge in medical tourism, with an increasing number of Americans choosing to travel to Czech Republic for more cost-effective IVF treatments

  • The demand for IVF treatments is expected to increase in Asia Pacific region owing to the growth in fertility tourism, increase in the number of international companies trying to penetrate economically developing countries, and change in the regulatory landscape in APAC.

  • The developing countries in the Asia Pacific are undertaking legal reforms to promote treatment adoption in the region. For instance, in February 2020, the Government of India approved a bill to regulate clinics offering reproduction assistance services, including IVF, artificial insemination, and surrogacy

  • In June 2021, the lower house of parliament in France officially passed a law granting single women and lesbian couples access to medically assisted reproduction. This groundbreaking law marks a significant milestone, allowing these individuals and couples to receive fertility treatments, including IVF, at no cost

  • In June 2023, Nova IVF Fertility, India's second-largest infertility treatment chain, announced that they plan to reach 100 centers in the next four years through organic expansion and acquisitions 

In Vitro Fertilization Market Segmentation

Grand View Research has segmented the global in vitro fertilization market report on the basis of instrument, procedure type, providers, and region:

In Vitro Fertilization Instrument Outlook (Revenue, USD Million, 2018 - 2030)

  • Disposable Devices

  • Culture Media

    • Cryopreservation Media

    • Embryo Culture Media

    • Ovum Processing Media

    • Sperm Processing Media

  • Equipment

    • Sperm Analyzer Systems

    • Imaging Systems

    • Ovum Aspiration Pumps

    • Micromanipulator Systems

    • Incubators

    • Gas Analyzers

    • Laser Systems

    • Cryosystems

    • Sperm Separation Devices

    • IVF Cabinets

    • Anti-vibration Tables

    • Witness Systems

    • Other

In Vitro Fertilization Procedure Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Fresh Donor

  • Frozen Donor

  • Fresh Non-donor

  • Frozen Non-donor

In Vitro Fertilization Providers Outlook (Revenue, USD Million, 2018 - 2030)

  • Fertility Clinics

  • Hospitals & Others Setting

In Vitro Fertilization Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • France

    • Germany

    • Italy

    • Spain

    • UK

    • Belgium

    • Netherlands

    • Switzerland

    • Norway

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

List of Key Players of Suppliers In Vitro Fertilization Market

  • Bayer AG

  • Cook Medical LLC

  • EMD Serono, Inc.

  • Ferring B.V.

  • FUJIFILM Irvine Scientific (FUJIFILM Holdings Corporation)

  • Genea Biomedx

  • EMD Serono, Inc. (Merck KGaA)

  • Merck & Co., Inc.

  • The Cooper Companies, Inc.

  • Thermo Fisher Scientific, Inc.

  • Vitrolife

List of Key Players of Service Providers In Vitro Fertilization Market

  • Boston IVF

  • Nova IVF

  • RMA Network (Reproductive Medicine Associates)

  • TFP Thames Valley Fertility

  • Fortis Healthcare

  • U.S. Fertility

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