Market Research Reports, Inc. has announced the addition of “Asia-Pacific In-Vitro Fertilization Services Market - Opportunities and Forecasts, 2014 - 2020” research report to their website www.MarketResearchReports.com
Lewes, DE -- (SBWIRE) -- 02/12/2016 -- Asia-Pacific In-Vitro Fertilization Services Market—Opportunities and Forecasts, 2014–2020, forecasts that the market is expected to generate a revenue of $3.5 billion by 2020. In 2015, Japan, China, and India were the prime destinations for IVF treatment, accounting for three-fourths of the overall market revenue. This is mainly attributed to factors such as large consumer base, economic cost of treatment, increasing popularity of medical tourism destinations, and availability of skilled workforce.
The major factors driving the growth of the Asia-Pacific IVF fertilization services market include rapidly increasing infertility rates, economic pricing, and increasing trend of delaying pregnancy among couples. In addition, countries with low birth rates, such as Indonesia, Vietnam, and Cambodia, are focused on improving the fertility rates to maintain a balance between the young and geriatric population. Moreover, increase in disposable incomes and growing health awareness are the key factors boosting the market growth. Promotional offers, such as accommodation and hospitality services by IVF centers and higher success rate of fertility treatment attract overseas patients to undergo IVF treatment supplement the market growth. Moreover, collaborations between academic institutions and fertility clinics & hospitals would foster the process of technological advancements in IVF technologies and facilitate better and effective IVF services. Furthermore, commercial adoption of high-end technologies and deployment of skilled workforce have fostered the growth of IVF services in the Asia-Pacific region. However, low health awareness in developing and underdeveloped countries, lack of favorable IVF reimbursement policies, and ethical & legal issues related to parental rights are likely to restrict the market growth.
In the current market scenario, fertility clinics are the leading end-users of the IVF services market, and this segment is expected to dominate the market during the forecast period. This is mainly attributed to the upsurge in hospital footfall and minimal patient waiting time for treatment. Furthermore, higher success rate and diversified offerings to patients promote the growth of the IVF fertility clinics and hospitals.
Key findings of the study:
- Fertility clinics segment accounts for 54.1% of the market revenue in the Asia-Pacific IVF services market.
Clinical research institutes would emerge as the fastest growing end-user segment, registering a CAGR of 12.1% during the forecast period.
- In 2014, fresh IVF cycles segment held about two-thirds share of the overall market, and is expected to emerge as the fastest growing segment, registering a CAGR of 11.0% during 2015–2020.
- In terms of value, Japan accounted for one-thirds share of the overall market revenue in 2014. However, India is forecast to emerge as the fastest growing country, registering a CAGR of 14.7% during the forecast period.
- In term of volume, Japan, India and China collectively accounted for about three-fourth market share in 2015, and is anticipated to maintain this trend during the study period.
The key fertility clinics and centers profiled in this reports include Shenyang Hospital, Shandong Provincial Hospital, Nova IVI Fertility, Bloom Fertility Center, Bourn Hall Clinic, Virtus Health, Monash IVF, Flinders Fertility, and IVF Namba Clinic, among others. The leading companies profiled in this report are Thermo Fisher Scientific, Inc., EMD Serono, Inc., Sun Pharmaceutical, Cadila Healthcare Ltd., LG Life Sciences, Cook Medical, Inc., and Vitrolife AB.
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