Asia-Pacific In-Vitro Fertilization (IVF) Services Market by Cycle Type (Fresh Cycle, Thawed IVF Cycle, and Donor Egg IVF Cycles) and End Users (Fertility Clinics, Hospitals, Surgical Centres, and Clinical Research Institutes) - Opportunity Analysis and Industry Forecast, 2014-2022
Portland, OR -- (SBWIRE) -- 02/26/2018 -- IVF procedures have emerged as a preferable choice for the fertility treatment in Asia-Pacific. Factors, such as the delayed pregnancies due professional commitments, rise in lifestyle driven infertility, growing trends towards financial stability, and emergence of new fertility tourism destinations is largely contributing to the growth of the Asia-Pacific IVF market. However, factors such as high costs, ethical and religious considerations, inadequate IVF reimbursements are likely to restrain the market growth.
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Asia Pacific in Vitro Fertilisation Market, valued at $3.0 billion in 2015, is estimated to reach $7.1 billion by 2022, growing at a CAGR of 13.3% during the forecast period. The Asia-Pacific in vitro fertilisation market is the fastest growing market of the global in vitro fertilisation market.
The average age of parenthood in the region has sharply inclined over the last decade. Over two thirds of babies in the region are born to a father over the age of 30 years and about 45% of women conceive at age of 30 years and above, for the first time. The stats are even worse in countries such as Japan, Korea, Singapore and Australia. The growing aging population has been the major concern for government in most of the countries in the region. Countries such as Indonesia, Vietnam, Cambodia and Philippines have fertility rates in excess of 2; however, they are keen to boost their fertility rates to counter the large aging population. Indonesia in particular has a fertility rate of 2.1 but has 210 million people within geriatric age.
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Korea, which has fertility rate of 1.4, has announced financial support for infertility treatment while Singapore with fertility rate of 1.3 has increased the subsidies for treatment to 75% of the treatment cost. All these have been instrumental in driving the growth of IVF market in Asia Pacific. It is expected that, in 2021, over 1.5 million IVF cycles would be performed in Asia Pacific.
The fertility rates in some of the Asia-Pacific countries, namely Japan, North and South Korea, China, Vietnam, Singapore, and Thailand, are below the threshold replacement fertility level, i.e. 2.1 birth per 1000 women. According to the East West Center Study, Asia's prosperous economies namely, Japan, South Korea, Singapore, and Taiwan, have the lowest birth rate, worldwide. Taiwan had the lowest birth per women, which was 8.55 birth per 1000 women, as compared to that of other countries such as South Korea (8.26), Japan (8.07) and Singapore (8.1) in 2014.
Asia Pacific in Vitro Fertilisation Market Key Segments:
By End Users (Value and Volume)
Clinical Research Institutes
By Cycle Type, (Value and Volume)
Fresh Cycle (Non-Donor)
Thawed IVF Cycle (Non-Donor)
Donor Egg IVF Cycles
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