The IVF services market consists of sales of in-vitro fertilization (IVF) services by entities (organizations, sole traders and partnerships) that provide these services. IVF is one of the more widely known types of assisted reproductive technology used to address infertility. IVF is a process of fertilization where an egg is combined with sperm outside the body, in vitro (in glass). Only goods and services traded between entities or sold to end consumers are included.
The global IVF services market is expected to decline from $13.39 billion in 2019 to $12.92 billion in 2020 at a compound annual growth rate (CAGR) of -3.52%. The decline is mainly due to the COVID-19 outbreak that has led to deferred care in order to avoid visiting hospitals, which resulted in reduced patient volume. The market is then expected to recover and reach $18.17 billion in 2023 at a CAGR of 12.04%.