Change in lifestyle, reduced conceiving rates in women above 40 years, delay in pregnancy in women suffering from gynecological conditions, and fertility disorders followed by favorable reimbursement scenario and delayed parenthood opted by couples due to professional and financial constraints are some of the major factors that drive the market growth
Portland, OR -- (SBWIRE) -- 06/26/2017 -- In Vitro Fertilization (IVF) Services Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $17,714 million by 2022, registering a CAGR of 10.2% during the period 2014-2022.The fresh cycle (non-donor) IVF cycles segment accounted for about 66% (revenue) share in 2015 and is expected to maintain its dominance during the forecast period.
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The causes of infertility include advanced maternal age, ovulation disorder, damaged or blocked fallopian tube, premature ovarian failure, uterine fibroids, endometriosis, impaired sperm production or function, and unexplained infertility.
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Fertility clinics accounted for major share of the world IVF services market in 2015, and is projected to maintain this trend throughout the forecast period. This is attributed to rise in the number of fertility clinics along with the availability of wide range of fertility treatments under one roof coupled with government reimbursements. Fertility clinics and specialty hospitals play crucial roles in providing IVF treatments to couples seeking assistance for infertility treatments, and together they occupy over three-fourths share of the overall market.
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Key Findings of In Vitro Fertilization (IVF) Services Market:
- Fertility clinics is projected to be the fastest growing end user at a CAGR of 10.7%, in terms of revenue.
- In terms of revenue, Asia-Pacific is expected to grow at the highest CAGR of 13.0%.
- Fresh cycle (non-donor) is estimated to generate highest revenue, followed by thawed IVF cycle (non-donor).
- U.S. is leading market and projected to grow with a CAGR of 10.6%, and reach $4 billion by 2022.
- In 2015, North America and Europe collectively accounted for over 60% of the world IVF market revenue.
Europe is anticipated to remain the highest revenue-generating region during the forecast period, owing to the widespread adoption of IVF techniques. France, Germany, and U.K. together accounted for about 40% share in 2015. In Spain about 84 thousand IVF cycles were conducted in 2015, and is estimated to reach 121 thousands by 2022, at a CAGR of 5.3%. However, Asia-Pacific is expected to grow rapidly during the forecast period, owing to high success rates of IVF in this market, followed by rising trend of fertility tourism. Japan, China and India are major countries dominating the Asia-Pacific IVF services market as they have emerged as key fertility tourism destinations in the past few decades. India conducted 91 thousand fresh IVF cycles in 2015 and is expected to reach about 278 thousand by 2022, at a CAGR of 17.4%.