“The lack of implementation of laws and by-laws and laxity of government in terms of regulating the IVF industry has led to swift budding of IVF clinics all over India”, says RNCOS.
Noida, UP -- (SBWIRE) -- 04/23/2014 -- In value terms, India’s IVF market is anticipated to have touched the mark of INR 14.2 Billion by the end of 2013. The very market is anticipated to register a double digit CAGR over the 5 year period spanning from 2013 to 2018. In the coming years, many new IVF clinics are likely to start operating in India. Furthermore, on the technological front, some novel and advanced technologies are also under development, which will find substantial use in the field of IVF. These factors will significantly impact the growth of IVF market in India in the near future.
In the present scenario, anyone can establish and run infertility/assisted reproductive technology (ART) clinic in India, where no legal/regulatory permission is required. Moving in sync with the same, new laws for regulating assisted reproductive technology in India were introduced to Parliament in 2008. The government of India accepted the national guidelines for accreditation, supervision and regulation of Assisted Reproductive Technology (ART) clinics in the country, developed and announced by the ICMR; although the ART bill is still pending at the parliament. As soon as the bill gets cleared and implemented, the swiftly booming industry of IVF and the mushrooming IVF clinics will come under the lens of the associated regulatory authorities, hence ensuring the proper ruling and execution of ethical practices, and safeguarding the medical and legal interest of the concerned persons.
On the holistic basis, the “Booming IVF Market in India”, report thoroughly discusses the IVF procedure in general; the penetration of IVF clinics in India in terms of region, structure, IVF cycles and PGD facility; the future outlook of IVF in India in terms of value and volume; the laws and bylaws associated with the industry; industry trends; and a detailed competitive scenario of the industry along with the profiles of key service providers.
With new service providers entering the market, increase in the number of collaborations between chains/independent clinics and renowned healthcare providers and hospital, and the rapid acceptance of IVF for dealing with reproduction problem, the Indian IVF market is bound to witness a gush in terms of growth in the years to come.
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