In Vitro Fertilization (IVF) Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, UK, Germany, France, China - Size and Forecast 2024-2028

IVF Devices Market Size 2024-2028

The global In-vitro Fertilization Devices Market size is estimated to grow by USD 411.62 million, at a CAGR of 7.67% between 2023 and 2028. The market's direction is heavily influenced by a multitude of factors. Among these, the rising prevalence of late parenthood stands out, reflecting shifting societal norms and priorities. Simultaneously, there's a noticeable uptick in fertility tourism, driven by individuals seeking specialized treatments and services in different geographic locations. Additionally, the increasing prevalence of genetic testing plays a significant role, empowering individuals with valuable insights into their reproductive health and potential risks. Together, these trends underscore the evolving landscape of the market, characterized by a growing demand for innovative solutions and personalized approaches to fertility and reproductive healthcare.

What will be the size of the Market during the Forecast Period?

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Market Segmentation

By Product Analysis

The market share growth by the culture media and reagents segment will be significant during the forecast period. Culture media and reagents are essential for nurturing the growth and maturation of embryos outside of the human body. These specialized substances are used in IVF laboratories to create an environment that mimics the conditions within the female reproductive tract, allowing embryos to develop and mature before they are selected for transfer into the uterus. 

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The culture media and reagents segment was the largest and was valued at USD 284.46 million in 2018. Culture media are essential for mixing eggs and sperm during the insemination process, allowing fertilization to occur. In the case of ICSI, a specialized microinjection culture medium is used for the microinjection of a single sperm into an egg. Following fertilization, embryos are cultured in specific culture media to support their growth and development. These media provide the necessary nutrients, ions, pH, and osmolality levels to create an optimal environment for embryo development. Moreover, when embryos are not transferred immediately, they can be cryopreserved (frozen) for future use. Specialized cryopreservation media and solutions are used to protect embryos during freezing and thawing processes. Thus, these uses will support the growth of the culture media and reagents, which will strengthen the growth of the global market during the forecast period.

Regional Analysis

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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis and drivers that will shape the market during the forecast period. The Market in North America is expected to grow significantly during the forecast period. A rising trend of infertility due to various factors, including delayed childbearing, lifestyle changes, and medical conditions, has led to a higher demand for fertility treatments, including in North America which increases the market demand. North America boasts a well-developed healthcare infrastructure and a high standard of medical care, which includes access to cutting-edge technologies and treatments. As the population in North America continues to age, more individuals and couples are seeking fertility treatments due to age-related fertility challenges, driving the demand for services and devices.

In addition, North America attracts patients from other countries for reproductive tourism due to its advanced medical facilities, experienced healthcare professionals, and favorable regulatory environment. North America generally has regulatory frameworks that support and govern treatments, ensuring the safety and quality of procedures. North America is a hub for clinical research and trials related and reproductive technologies, leading to innovation and Market expansion. Thus, these factors will contribute to the growth of the market during the forecast period.

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Market Dynamics and Customer Landscape

The market is experiencing notable advancements with the rise of In vitro fertilization (IVF) procedures. Clinics like Pinnacle Fertility and Oasis Fertility offer a range of embryo options, utilizing cutting-edge technology and incubators to optimize success rates. Companies like Multiply are leveraging AI-based platforms to enhance fertility treatments, while Recursion is pioneering innovative approaches in cell manipulation and embryo development. The International Bar Association ensures regulatory compliance and ethical standards in the field. Cook Medical is among the leading providers of IVF devices, offering a comprehensive range of products for assisted reproductive technologies. As demand grows and technology continues to evolve, the IVF Devices Market remains at the forefront of medical innovation, providing hope and solutions to individuals seeking to build their families. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The rising prevalence of late parenthood is notably driving the market growth. Increased age of parenthood is one of the major factors leading to infertility problems. In fact, it has severely affected European countries and some Asian countries, such as Japan. The global median age for bearing the first child has drastically increased over the past few decades. Factors such as the growing use of various contraceptive technologies, increasing focus on higher education and career, and urbanization have led to the rising median age of first pregnancy, leading to falling fertility rates which resulted in the in-vitro fertilization devices market expansion. 

However, high-quality reproductive care, less-restrictive legal conditions, affordable treatment costs, and liberal social, ethical, and religious views in medical tourism countries offering fertility care have, to a large extent, attracted individuals seeking to have a child. Thus, the rising prevalence of late parenthood will drive the growth of the market during the forecast period.

Significant Market Trends

Rapid technological advancements in IVF procedures is an emerging trend shaping the market growth. Technological innovations in procedures have led to improved success rates. This includes advancements in embryo selection techniques, time-lapse imaging, and culture media, which enhance the likelihood of a successful pregnancy. As success rates increase, the demand for services and devices grows along with in-vitro fertilization devices market growth.  Moreover, advances in cryopreservation techniques for freezing and thawing embryos and gametes have improved the survival and quality of cryopreserved materials.

However, telemedicine and remote monitoring solutions allow healthcare providers to monitor patients during cycles without frequent in-person visits. These technologies may involve specialized monitoring devices which can have a positive impact on the market growth. Thus, rapid technological advancements in procedures will drive market growth and trends during the forecast period. 

Major Market Challenges

Ethical and social concerns associated are a significant challenge hindering market growth. The in-vitro fertilization devices market is hampered by ethical concerns over ART (Assisted reproductive technology) procedures across the globe. New reproductive technologies have spawned various ethical concerns and attracted public debate and wide media attention. This raises various moral and legal issues, such as guidelines for semen banking, the legality of surrogacy, the mode of conceiving, and the child's right to access his/her genetic background. The monitoring of ART procedures is essential to avoid exploitation of ethical concerns. 

In addition, ethical issues around third-party ART involve the selection and sale of reproductive materials and the regulations, rights, and responsibilities of the collaborators which will limit the market growth. Thus, the social and ethical concerns associated with this could impede the growth of the global market in focus during the forecast period.

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Customer Landscape

The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• Product Outlook 
  • Culture media and reagents
  • Accessories and disposables
  • Instruments
• End-user Outlook 
  • Fertility clinics
  • Hospitals
  • Research centers
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia 

You may also interested in below market reports:

• IVF Devices and Consumables Market - IVF Devices and Consumables Market by Product and Geography - Forecast and Analysis
• In Vitro Fertilization (IVF) Disposables Market - In Vitro Fertilization (IVF) Disposables Market by End-user, Type and Geography - Forecast and Analysis
• Infertility Treatment Devices Market - Infertility Treatment Devices Market by Product and Geography - Forecast and Analysis

Market Analyst Overview

The market is witnessing significant growth driven by advancements in life sciences and cutting-edge medical technology. Companies like CooperSurgical and Genea Biomedx are leading the way with innovative products such as the Ion AmpliSeq Polyploidy Kit and the MINC+ Benchtop Incubator. ART services and sperm separation systems are revolutionizing assisted reproduction technology, offering hope to couples facing infertility issues, including those related to polycystic ovary syndrome. However, high costs, low success rates, and restrictive regulations pose challenges, particularly in developed nations. Delayed marriage and advancing age contribute to the rising demand for IVF cycles and medication, especially in emerging economies. Efforts to improve affordability and efficacy of infertility treatment, along with advancements in laboratory settings and equipment segments, are driving the market forward, making assisted reproductive technology more accessible to end-users worldwide, including international healthcare providers.

Additionally, in the market, Generate Life Sciences and Advanced Materials Technologies converge to offer innovative solutions for assisted reproductive procedures like Intracytoplasmic Sperm Injections (ICSI) and Cryo Systems, alongside essential reagents & media. AI-based platform such as DishTrace optimize treatment options by facilitating the selection of the best eggs and sperm in the laboratory setting. However, challenges persist due to the high cost and low success rates, prompting individuals to consider delaying marriage and seeking coverage through health insurance. Despite this, emerging countries witness a rise in infertility clinics, driving demand for IVF equipment catering to various cycles like fresh non-donor and IVF with ICSI, aiming to enhance fertilization success and increase embryo production. Ultimately, these advancements aim to alleviate healthcare costs for end users seeking fertility solutions.

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What are the Key Data Covered in IVF Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on the company's position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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