Global Ivf Services Market Size 2024, Forecast To 2033
11 Mar, 2024
The IVF services market has undergone rapid growth, moving from $17.13 billion in 2023 to $19.07 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 11.3%. This growth in the historical period is attributed to the increased prevalence of polycystic ovary syndrome (PCOS), increased cases of premature ovarian failure, a rising rate of male infertility, and insurance coverage for IVF procedures. Looking ahead to 2028, the market is anticipated to experience strong growth, reaching $27.67 billion with a CAGR of 9.7%. The forecasted growth in the coming years can be linked to the rising infertility rate, technological developments in fertility treatment, growing adoption of IVF services to aid in pregnancy, a rise in the number of same-sex couples, an increase in the number of fertility clinics, a rise in disposable income, and late parenthood. Key trends during this period include providing mitochondrial replacement therapies to potentially overcome genetic disorders, adopting new technologies like fertility freezing and providing better solutions to people seeking fertility treatments, offering PGT-A screening or testing programs to potentially increase the chances of pregnancy, using artificial intelligence to reduce costs and time, implementing blockchain-based apps to curate data for users, and adopting advanced technologies such as time-lapse microscopy for safe, uninterrupted, and constant embryo observation.
Global IVF Services Market Key Driver
The rising infertility rate has contributed to the growth of the in vitro fertilization (IVF) services market. Infertility, defined as the inability to conceive within 12 months, is a prevalent issue, with around 12 to 13 couples in 100 facing challenges, according to the US Department of Health and Human Services. Furthermore, the Indian Journal of Community Medicine reports 15 to 20 million infertility cases in India alone. This escalating infertility rate has led people to turn to IVF services, becoming a significant contributor to the market's growth. The market's trajectory is expected to continue in this direction, capturing the 2023, 2024, and 2028 market sizes.
Get A Free Sample Of The Global IVF Services Market ReportGlobal IVF Services Market Segments
The ivf services market covered in this report is segmented –
1) By Cycle Type: Fresh IVF Cycles(Non-donor), Thawed IVF Cycles(Non-donor), Donor Egg IVF Cycles
2) By Service Provider: Fertility Clinics, Hospitals, Surgical Centers, Clinical Research Institutes
3) By End User: Fertility Clinics, Hospitals & Other Settings
By Geography:The regions covered in the ivf services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Western Europe was the largest region in the IVF services market in 2023. North America was the second largest region in global IVF services market share. The regions covered in the ivf services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major IVF Services Industry Players
Monash IVF Group, Virtus Health Limited, Chelsea and Westminster Hospital NHS Foundation Trust, Genea Limited, Boston IVF, IVF Spain, Morpheus Life Sciences Pvt. Ltd., Dünya IVF, Cardone Reproductive Medicine & Infertility LLC, Cloudnine Fertility, Sun Pharmaceuticals Industries Ltd., Cadila Healthcare Ltd., Trivector Origio Scientific, Lab IVF Asia Pte Ltd., LG Life Sciences, Bourn Hall Clinic, Southend Fertility, Indira IVF, Pearl Women Hospital & Yash IVF Center, Corion Fertility Clinic, Origin International Fertility Center, Apollo Hospitals Dhaka, Australian Concept Infertility Medical Center (ACIMC), Bahosi Fertility Centre, , Bloom Fertility and Healthcare, Bumrungrad International Hospital, Center for Advanced Reproductive Medicine and Infertility, CHA Fertility Center, United Family Healthcare, The New Hope Fertility Center, Melinda Hospital, Bocah Indonesia, Daya Medika, Clinique de la Muette, Klinikum Stuttgart, DRK Kliniken Berlin, University Medical Center Freiburg, CREATE Fertility, The Centre for Reproductive & Genetic Health, The Bridge Centre, Next Generation Clinic, UNICA Clinic – Prague, Repromeda s.r.o., MD Medical Group, Univfy, Progyny, Advantia Health, Maven Clinic, Future Family, Instituto de Fertilidad Humana, The Colombian Center for Fertility and Sterility, NMC Health, Dubai Gynecology and Fertility Centre, , New Life Medical Centre, Cairo Fertility Centre (Egypt), Queens Fertility Centre (Egypt), BPE Partners, Cleopatra Hospitals Group (CHG)
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IVF Services Market Overview
IVF is a process of fertilization where an egg is combined with sperm outside the body, in vitro (""in glass”). In vitro fertilization (IVF) is a sophisticated set of treatments intended to improve fertility, avoid genetic issues, and aid in child conception. It is used to address infertility.
IVF Services Global Market Report 2023 provides data on the global ivf services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ivf services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.