The growth of this market include an increase in the median age of first-time mothers, declining fertility rates, rising male infertility, rise in obesity rate and growing consumption of alcohol, and greater public awareness about infertility and the availability of treatment options. However, the high cost and low success rate of IVF treatment and restrictive regulations and ethical concerns are expected to restrict the growth of the IVF market to a certain extent.
According to the data published by Australian Institute of Health and Welfare 2021, in Australia the average age of first-time mothers increased from 27.9 years in 2009 to 31.9 years in 2019. With the median age for first-time mothers increasing, a growing number of women are expected to face difficulties in conceiving naturally.
More than 2.5 million vitro fertilization (IVF) cycles are performed every year worldwide. The cost of IVF treatment varies from country to country due to the lack of reimbursement policies. A lack of insurance coverage and the poor reimbursement scenario in some parts of the world are limiting the growth of this market.
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The risk of complications in pregnancy and childbirth also increases with age. A woman aged 35 or above is 2.5 times more prone to have a miscarriage or stillbirth than a woman aged less than 35, whereas a woman aged above 40 is more than five times prone to have a miscarriage or stillbirth than a woman under 35 years of age.
The IVF with ICSI segment registered the highest growth rate of the in vitro fertilization market. The success rate of fertilization with ICSI procedure, and the growing utilization of the ICSI during IVF procedure are anticipated to boost the adoption of IVF with ICSI procedures, accelerating the growth of the segment during the forecast period.
Key Market Players
The prominent players operating in the global in vitro fertilization market include The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US).