Cook Medical, Vitrolife AB, CooperSurgical, EMD Serono, Inc., Genea Ltd., Fertility Focus Ltd., Thermo Fisher Scientific, Inc., Merck KGaA, Ovascience, Inc., Rocket Medical PLC, are some of the leading firms reigning the global in-vitro fertilization market. The boost in the demand for global in-vitro fertilization market can be credited to the growing number of cases with infertility in both men and women since past few years.
As per a recent report by Transparency Market Research (TMR) the global market for in-vitro fertilization is prognosticated to demonstrate a steady and flourishing growth in coming years. It is foreseen to hold a strong CAGR of 6.5% within its forecast period from 2017 to 2024. In year 2017 the market was evaluated to be worth of US$ 29.8 mn. This figure is likely to soar around worth of US$ 725.9 mn by the end of 2024.
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Based on product type, the global in-vitro fertilization market is classified into equipments and reagents. Out of these, the reagents segment is likely to account for maximum share of the global in-vitro fertilization market within the forecast period. The surging growth and innovations in the industry is foreseen as a major factor to stimulate the growth of the segment. Geographically, Asia Pacific region accounts for major revenue of the worldwide in-vitro fertilization market back 2017 and is relied upon to hold its predominance in coming years as well. Ascending at a CAGR of 6.7%, the Asia Pacific in-vitro fertilization market will achieve a value US$235.9 mn in the forthcoming years. The strength is ascribed to ideal government activities and a thriving healthcare tourism in a few developing countries.
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Change in Lifestyle to be Responsible for the Growth of In-Vitro Fertilization Technology
The rising prevalence of couples, male or female, are suffering from several anatomic factors, more often than before. For example, tubal illness, endometriosis ovulatory ailments, and unexplained cases of infertility across the globe is a major driver key pattern feeding the demand in in-vitro fertilization market. The rising cases of infertility can be credited to a blend of factors such as, changed way of life, hereditary, and unprotected intercourse. However, the danger of fizzled IVF cycle is a key factor liable to obstruct the market. Then again, late headway in advancements and the developing mastery of clinicians are factors anticipated that would address this worry.
The rising cases of infertility due to lifestyle-induced components, combined with the changing preference of couples to delay starting a family, has augmented the demand regarding IVF in different developed and developing regions. The key focus to address the developing issues of male infertility all around the world, majorly affected by hereditary elements, and has fortified the demand for IVF market in past few years.
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Prevalence of Diagnosed Genetic Ailments to Bolster Demand in Global IVF Market
The increasing prevalence of diagnosed hereditary issue in developed countries among fertile couples even goes with the in-vitro treatment market. These people choose IVF to restrict their ailment from transferring to their children. The huge availability of hereditary tests in many developed countries is foreseen to support the recognition of these genetic issues as well. As a result, the demand in IVF market is expected growth manifold. The presence of routine protection scope for in-vitro fertilization methodology is picking up footing in a few created and creating countries, which is required to provide interesting market scope. This is as well, foreseen to pull back the treatment cost.
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The data and information presented is based on the findings of a TMR report, titled “In-Vitro Fertilization Market – (Product Type–Equipment and Reagents; End User – Fertility Clinics, Hospital and Research Laboratories, and Cryobanks) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024.”
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