IVF Devices Market size to Grow by 7.67% Y-O-Y from 2024 to 2028, Analysing market growth in culture media and reagents segment, Technavio

NEW YORK, March 8, 2024 /PRNewswire/ -- The In vitro fertilization (IVF) devices market size is estimated to grow by USD 411.62 million, at a CAGR of 7.67% between 2023 and 2028. The culture media and reagents segment is poised for significant growth during the forecast period, supporting embryo development in IVF laboratories. Valued at USD 284.46 million in 2018, these substances facilitate fertilization, embryo culture, and cryopreservation, ensuring optimal conditions for successful embryo transfer. This segment's expansion, driven by specialized media for various IVF procedures, will bolster the global market's growth in the coming years.

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Market Insights -

• Vendors: 15+, Including ASTEC CO. Ltd. | Cook Group Inc. | Cryotech | Esco Micro Pte. Ltd. | FUJIFILM Corp. | Genea Ltd. | Gynotec BV | Hamilton Thorne Ltd. | KITAZATO Corp. | LabIVF Asia Pte Ltd. | Merck and Co. Inc. | NidaCon International AB | Nikon Corp. | Progyny Inc. | Rocket Medical Plc | The Cooper Companies Inc. | Thermo Fisher Scientific Inc. | Vitrolife AB, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Product (Culture media and reagents, Accessories and disposables, and Instruments), End-user (Fertility clinics, Hospitals, and Research centers), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including -

Cook Group Inc. - The company offers such as minic benchtop incubators, bakri postpartum balloon, and guardia embryo transfer catheter.

• ASTEC CO. Ltd
• Cryotech
• Esco Micro Pte. Ltd.
• FUJIFILM Corp.
• Genea Ltd.
• Gynotec BV
• Hamilton Thorne Ltd.
• KITAZATO Corp.
• LabIVF Asia Pte Ltd.
• Merck and Co. Inc.
• NidaCon International AB
• Nikon Corp.
• Progyny Inc.
• Rocket Medical Plc

The rising prevalence of late parenthood is notably driving the market growth:

• Rising prevalence of late parenthood is a key market driver, linked to increased infertility due to delayed childbearing.
• Factors such as contraceptive use, education, and urbanization contribute to delayed pregnancy, expanding the in vitro fertilization devices market.

The increasing age at which individuals choose to become parents is a significant driver for market growth, as it correlates with a higher incidence of infertility. This trend, influenced by factors like contraceptive use, educational pursuits, and urban living, has notably impacted Europe and parts of Asia. However, countries offering accessible reproductive care, along with liberal legal and social environments, are attracting individuals seeking fertility treatments. Consequently, the market is expected to witness sustained growth due to the rising prevalence of late parenthood.

Key challenges:

• Ethical and social concerns pose a significant challenge to market growth, particularly regarding Assisted Reproductive Technology (ART) procedures.
• Issues such as guidelines for semen banking, surrogacy legality, and the child's rights impact the market's expansion, necessitating careful monitoring of ART practices.

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Related Reports:

The in vitro fertilization (IVF) disposables market size is estimated to grow by USD 248.53 million at a CAGR of 7.66% between 2022 and 2027.

The fertility services market is estimated to grow at a CAGR of 7.68% between 2022 and 2027. The size of the market is forecast to increase by USD 8.3 billion.

Analyst Review:

The Fertility Clinics Market is a dynamic landscape characterized by a myriad of Assisted Reproductive Technology (ART) procedures and treatments designed to address infertility challenges. Fertility clinics play a pivotal role in providing comprehensive care, offering services ranging from Egg Retrieval and Embryo Transfer to the administration of Fertility Drugs and Ovulation Induction therapies. These clinics leverage advanced techniques such as Intracytoplasmic Sperm Injection (ICSI) and Gamete Intrafallopian Transfer (GIFT) to overcome various fertility barriers, while Preimplantation Genetic Diagnosis (PGD) enables genetic screening for enhanced treatment outcomes.

Furthermore, the advent of Fertility Preservation options, including Egg, Sperm, and Embryo Freezing, has revolutionized family planning by allowing individuals to preserve their reproductive potential for future use. This has become particularly relevant in scenarios such as medical treatments that may affect fertility or lifestyle choices that prioritize career advancement or education over starting a family.

Despite the remarkable progress in infertility treatments, challenges persist, notably Ovarian Hyperstimulation Syndrome (OHSS) and the occurrence of complications associated with In Vitro Fertilization (IVF) procedures. However, ongoing advancements in IVF medications, protocols, and monitoring techniques aim to mitigate these risks and optimize treatment outcomes for patients.

Moreover, the expanding array of Fertility Testing options and the integration of innovative technologies such as Endometrial Receptivity Array (ERA) are enhancing diagnostic capabilities, enabling personalized treatment approaches tailored to individual patient needs. Additionally, fertility clinics provide essential support services such as Fertility Counseling, guiding patients through the emotional and psychological aspects of infertility treatment.

Looking ahead, the Fertility Clinics Market is poised for continued growth, driven by factors such as improving IVF success rates, expanding access to fertility services, and growing demand for comprehensive fertility assessment and treatment options. With ongoing research and development efforts aimed at refining ART procedures and addressing emerging challenges, the market is expected to witness further innovation and advancements in the years to come.

Market Overview:

The In Vitro Fertilization (IVF) Devices Market is driven by the increasing adoption of assisted reproductive technology in fertility clinics worldwide. These clinics utilize advanced techniques such as egg retrieval, embryo transfer, and intracytoplasmic sperm injection (ICSI) to aid in infertility treatment. Fertility drugs and ovulation induction play crucial roles in stimulating the reproductive process. Preimplantation genetic diagnosis (PGD) enables the assessment of embryo viability, while fertility preservation methods offer options for future conception. With a focus on IVF success rates and cost-effective solutions, clinics monitor ovulation, conduct fertility testing, and provide comprehensive fertility counseling throughout the IVF procedure, mitigating potential complications and ensuring optimal outcomes within established timelines.

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SOURCE Technavio