IVF Devices and Consumables Market to Grow at 13.30% CAGR by 2030
High infertility rate among young population along with technological advancement as well as constant development of healthcare infrastructure give rise to fertility clinics which are expected to drive the growth of IVF Devices and Consumables Market industry during the forecast period of 2020-2030.
The IVF Devices and Consumables Market is expected to grow at the CAGR of 13.30% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
In-vitro fertilization (IVF) is an assisted reproductive technology which involves the removal eggs from the ovaries and fertilizing it with sperm in artificial medium. It is one of the mostly used techniques adopted by infertile couple to have children. The devices and consumables used in the entire procedure to further enhance the productivity of the procedure to achieve better results. There are various reagents, accessories, devices used to create artificial medium which is very much similar to the natural environment which helps in the growth of embryo.
According to the report, there has been constant growth in the infertility rate among young population owing to high stress rate, changing lifestyle. In addition increased consumption of alcohol as well as smoking also affects the fertility of an individual along with presence of well-established healthcare infrastructure. On the other hand, high success rate owing to technological advancement along with development n disposable income are also likely to enhance the market growth. Moreover, delayed pregnancies among females along with improved awareness among people with regards to the sperm & egg donation are also expected to fuel the market growth. Moreover, stringent regulatory polices as well as fast development in medical tourism may tend to change the market trends in near future.
However, high cost associated with the IVF procedures followed by various complications associated with the same may restrict the market growth. Moreover, rising number of fertility clinics accompanied by the same sex marriages is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of product, the IVF devices and consumables market share is segmented into Instrument, Accessory & Disposable, and Reagent & Media. Accessory & Disposable dominates the global IVF devices and consumables market in terms of market share and will be the dominant during the forecasted period owing to the wide use in different procedures performed.
On the basis of technology, the IVF devices and consumables market is categorised into Fresh Embryo IVF, Frozen Embryo IVF, and Donor Egg IVF. Fresh embryo transfer is one of the widely used technologies owing to various advantages such as high success rates, enhanced safety & others. Fresh embryo IVF technology dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
Based on end user, the market is categorized into Fertility Clinic, Hospital, Surgical Centre, and Clinical Research Institute. Fertility clinics are likely to account for the major market share and maintain its dominance over the forecast period.
North America is likely to account for the highest size & share of the IVF devices and consumables market in the forecast period 2020–2030 owing to the high adoption rate of IVF services with high disposable income as well as presence of technological advancement. Europe accounts for the second leading position in the IVF devices and consumables market size. Asia Pacific is expected to be the fastest developing region in the IVF devices and consumables market owing to the high infertility rates among young population further added by the surge in the adoption of advanced technology are also expected to enhance the market growth.
According to the report, some the key players in the IVF devices and consumables market are Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Cook Medical Inc., Merck KGaA (EMD Serono, Inc.), Genea Biomedx, Oxford Gene Technology, Millendo Therapeutics, Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Progyny Inc., Vitrolife AB and Thermo Fisher Scientific, Inc.
Browse key industry insights from the report at https://www.nextmsc.com/report/ivf-devices-and-consumables-market in detail along with the table of contents:
Key Insights from the IVF Devices and Consumables Market Report:
- Asia Pacific is the fastest growing IVF Devices and Consumables market owing to the rising infertility rates among young population with changing lifestyle as well as development of healthcare services in the developing economies.
- The fresh embryo IVF technology along with fertility clinics dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Cook Medical Inc., Merck KGaA (EMD Serono, Inc.), Genea Biomedx, Oxford Gene Technology, Millendo Therapeutics, Inc., The Cooper Companies, Inc. (CooperSurgical, Inc.), Progyny Inc., Vitrolife AB and Thermo Fisher Scientific, Inc.
The report IVF Devices and Consumables market – segmented by product, technology, end user and geography
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