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In the case of emerging countries, lack of proper infrastructure limits IVF services.
FREMONT, CA: Demand for infertility treatment and advancements in assisted reproductive techniques are the underlying factors that suggest the future surge of fertility centers segment of the in-vitro fertilization services market. The increment in the number of fertility clinics in developing economies will also add up to the growth opportunities.
In 2018, fertilization (IVF) sector accounted for a total share of USD 4.2 billion and is expected to continue the upward surge at a robust rate in the future. People under the age of 34 years are opting for IVF services, which are expected to grow at 6.7 percent across the forecast timeframe. As per the clinical evidence, it has been established that treatment under the age of 34 has the highest possible rate of success.
As per a report by Global Market Insights, in-Vitro Fertilization Services Market is set to surpass USD 17 billion globally by 2025. Growing awareness over assisted reproductive technology will also influence in-vitro fertilization (IVF) services.
Rising prevalence of infertility cases is already contributing to IVF services market growth in the coming years. Almost 12.1 percent of women between 15 to 44 age groups face infertility and impaired fecundity. Furthermore, heredity, late childbearing, and changing lifestyles are also contributing to infertility.
In developed countries such as Canada and the U.S., high cost associated with IVF services are the primary growth restricting factors. In the case of emerging countries, lack of proper infrastructure limits IVF services. Irregular reimbursement in developing countries is also likely to hinder the growth of IVF services.
In 2018, U.S. IVF services market accounted for $2.7 billion. Increasingly people are getting aware of the advancements in IVF services along with government initiatives to promote people to utilize IVF treatments. The above two factors will significantly impact the U.S. IVF market. The major industry players contributing to the global IVF services market include Ovation Fertility, IVIRMA Global, Bangkok IVF Center, AVA Clinic Scanfert, Max Healthcare Pvt. Ltd., and Nuffield Health. Such companies focus on geographical expansion, mergers and acquisitions, and innovative service development for strengthening their stature in the market along with a competitive advantage against its peers.