NEW YORK, Jan. 16, 2017 /PRNewswire/ -- The definition of IVF or In-Vitro Fertilization technology became the centre of attraction amongst researchers and therapeutic experts since past few years. Moreover, the rising awareness has led to increase in egg donation. Furthermore, lifestyle induced disorders, such as obesity and smoking also contributing towards high infertility rates. These altogether are thus driving the IVF market, as women and their families go for IVF procedures more as compared to other available procedures. Medical tourism is also one of the major factors driving the growth of IVF market in India. Similarly, PGS or PGD market is also booming in India due to rise in the incidences of genetic disorders, leading to infertility or miscarriages. Owing to this, numerous IVF and PGD clinics have started arriving all over India, with the IVF technology getting more readily accepted due to better technological advancements.
In India, the growth in the IVF market is attributed to steep rise in infertile patients over the past decade. Meanwhile, the country is on track to become one of the powerful nations in the world. In order to support this, the Indian population is extending to maximize its achievements within a short time-span, which is further resulting in delayed pregnancies, altered lifestyles, and changing preferences. The factors thus enlisted are the key reasons for rapidly booming infertility rate in the country. The report by RNCOS entitled "Indian IVF & PGD Market, By Structure (Independent, Chained, Hospital-based), by region (North, South, East, and West) – Forecasts to 2022" analyzes the potential trends and developments in the Indian IVF market. According to RNCOS' report, the Indian IVF market is anticipated to witness an impressive CAGR of approximately 15.8% over the forecasted period, i.e. 2016 to 2022. Additionally, according to the IVF market report forecasts, the IVF market in India is expected to bring in INR 26.3 Billion by 2022. Similarly, the Indian PGD market is expected to reach INR 2 Billion by 2022, growing at a CAGR of around 13% over the forecasted period.
Furthermore, the report offers an in-depth study of the overall IVF industry in India. It analyzes the region-wise presence of IVF clinics in the country, i.e. their penetration across East/West/North/South India; their structure, i.e. chain, independent and hospital-based; the number of IVF cycles performed; the availability of PGD facility; major drugs and hormones used and/or prescribed in the procedure; and infertile patients flow to IVF clinics. The report also explains the current status of PGD market in India by structure and by region. The market outlook section in the report descriptively discusses the Indian IVF market as well as India PGD market till 2022, and their regional shares.
Moreover, supported by significant growth in the Indian medical tourism and exaggerated infertile domestic population, many new service providers are seeking to invest in by increasing collaborations with chains/independent clinics, renowned healthcare providers, and hospitals. As a result, many IVF and PGD centers can be seen growing even in Tier II and Tier III cities in the country. Also, the medical advancements to taking the edge off health related risks have fuelled rapid acceptance of the IVF and PGD technology to deal with reproduction problems in the country. In lieu of these factors put altogether, the Indian IVF as well as PGD market is bound to witness a rapid inflation in its growth rate in the coming years.
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