In Vitro Fertilization Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

In Vitro Fertilization Market Analysis

The Global In Vitro Fertilization Market size is expected to grow from USD 24.46 billion in 2023 to USD 35.60 billion by 2028, at a CAGR of 7.80% during the forecast period (2023-2028).

The impact of the COVID-19 pandemic on the studied market is expected to be significant as most countries around the world have already adopted strategies to reduce and eliminate coronavirus infections leading to the closures of fertility centers. The COVID-19 pandemic triggered the worldwide suspension of in vitro fertilization treatments, and this had a profound impact on women undergoing IVF procedures. For instance, an article titled "Infertility Management Disruption During the COVID-19 Outbreak in a Middle-Income Country: Patients' Choices, Attitudes, and Concerns" published in October 2021, reported that patients have faced uncertainty regarding the achievability of their long-term fertility goals amidst an atmosphere of general unpredictability for the duration and extent of disruption of their treatment, combined with the fear of infection. Moreover, it also reported that COVID-19 infection not only affected the patients' performance or ovarian reserve in the immediate subsequent IVF cycle, but it also resulted in a reduced proportion of top-quality embryos. Thus, COVID-19 had a significant impact on the growth of the market.

The rising success rate of IVF technology, increasing awareness about IVF procedures, and delayed onset of pregnancy are the main driving factors for this market. The increasing awareness of advanced in vitro fertilization (IVF) techniques and rising success rates of IVF have stimulated the demand for in vitro fertilization techniques worldwide.

Furthermore, the National Perinatal and Statistics Unit, September 2021 report, demonstrated that IVF success rates have improved significantly over the last 10 years, and the live birth rate per initiated IVF cycle in women using their eggs increased by 18% overall, with an even steeper improvements in older age groups. The overall live birth rate per embryo transfer was increased by up to 28% in 2020. The improved success rates are due to many factors, including advancements in laboratory techniques and improvements in the overall management of couples experiencing infertility, such as lifestyle interventions, improved diagnostic capabilities, and in some cases surgery before IVF.

Another reason driving this market is rising cases of infertility. For instance, according to the article titled "In vitro Fertilization" updated in May 2022, globally 10–12% of couples have difficulty conceiving, and this number is expected to gradually increase in the coming years. IVF accounts for 1.6% and 4.5% of all live births in the United States and Europe, respectively. Also, the same article quoted that approximately 25% to 35% of infertile women are found to have tuboperitoneal disease, with pelvic inflammatory disease (PID) being the most common cause of infertility and poor semen quality in men is the sole cause of infertility in 20% of couples. Infertility affects approximately 1 in 8 couples in the United States. In the last three decades, over 5 million children worldwide have been conceived via IVF technology. Thus, infertility-related problems among couples have stimulated the demand for in vitro fertilization techniques worldwide.

The proportion of women intentionally delaying pregnancies beyond the age of 35 has been increasing in the past few years. A delay in pregnancy commonly causes infertility. In many cases, delayed pregnancies result in pregnancy-related complications and an increased risk of infertility. For instance, as per the Centers for Disease Control and Prevention (CDC) update in March 2022, among heterosexual women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women in this group have difficulty getting pregnant or carrying a pregnancy to term (impaired fecundity).

The growing awareness and advancements in IVF technology, the rising number of delayed pregnancies, and increasing infertility among couples are the reasons that boosted the IVF market. For instance, in December 2021, Multiply, an IVF-tech firm, unveiled an AI-based platform designed to replace traditional operations in IVF facilities.

Thus, owing to the abovementioned factors, the market is expected to project growth over the forecast period. However, the market's growth is expected to be limited over the forecast period due to the complications associated with IVF and the associated socio-ethical issues.

In Vitro Fertilization Market Trends

This section covers the major market trends shaping the In Vitro Fertilization Market according to our research experts:

The Sperm Separation Systems Segment is Estimated to Hold the Large Share in Terms of Revenue Over the Forecast Period

In Vitro Fertilization Industry Segmentation

As per the scope of the report, in vitro fertilization is an assistive reproductive technology that involves the process of fertilization by retrieving eggs from the woman's ovaries and fertilizing them with sperm outside of the body in a laboratory environment. The In Vitro Fertilization Market is Segmented by Product Type (Reagent and Instrument (Imaging Systems, Incubators, Cryosystems, IVF Cabinet, Ovum Aspiration Pump, Sperm Separation Systems, Micromanipulator Systems, and Other Instruments)), End User (Fertility Clinics, Hospitals, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (USD million) for all the above segments.