The IVF Services Market size was estimated to be US$ 16.70 billion in 2021 and US$ XX million in 2023 and is expected to reach US$ 50.01 billion by 2031. It is estimated to record a CAGR of 11.6% till 2031. Increasing incidences of infertility, rising number of fertility clinics and infertility services with government support, and integration of artificial intelligence in In vitro fertilization are likely to remain key IVF services market trends.
IVF Services Market Analysis
IVF, or in vitro fertilization, is a fertility therapy where eggs are retrieved from women's ovaries and fertilized with sperm outside the body. The step involves several steps and can be sought by couples or individuals suffering from fertility issues. Currently, various IVF clinics and centers provide IVF services worldwide.
The fertility rate is steadily dropping globally, owing to various factors, such as the growing inclination of late marriages and expanding age-related infertility. Global fertility rates are predicted to fall to 2.4 children per female by 2030 and 2.2 children per female by 2050. About 12% of women in the age group 15 to 44 years in the US faced difficulty getting pregnant or achieving pregnancy to term, regardless of marital status. Also, about 6.0% of married women aged 15 to 44 years in the US are incompetent of getting pregnant after one year of trying (infertility). Thus, the falling fertility rate leads to a substantial increase in demand for in vitro fertilization (IVF) services that influence the fertility window in males and females.
IVF Services Market Overview
The increasing incidence of infertility, the rising figure of fertility clinics and infertility services with government support, and the growing number of product launches and developments. However, the high procedural cost of reproductive techniques and risks associated with infertility treatment hinder the market growth. Global IVF services market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The European region holds the largest market share, whereas the Asia Pacific region is the fastest-growing region. The factors such as an increase in infertility treatment by IVF and ART. The growing support from the government through various programs, the rising number of fertility centres in the countries, and the declining fertility rate among women are likely to increase the market growth in the region during the forecast years.
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IVF Services Market: Strategic Insights
Market Size Value in US$ 13,496.29 Million in 2019 Market Size Value by US$ 31,613.76 Million by 2027 Growth rate CAGR of 11.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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IVF Services Market: Strategic Insights
| Market Size Value in | US$ 13,496.29 Million in 2019 |
| Market Size Value by | US$ 31,613.76 Million by 2027 |
| Growth rate | CAGR of 11.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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IVF Services Market Drivers and Opportunities
Growing Number of Product Launches Development to Favor Market
Companies in the IVF services market is acting increasing research and development behaviour to introduce more innovative products. The new thawed IVF cycles, donor egg IVF cycles, micromanipulator systems, and incubators are enabling the adoption of advanced cell technologies, which are strengthening procedural outcomes. In Jan 2021, Royal Philips, a global leader in health technology, declared a multi-year partnership with Merck, a leading science and technology company, to develop clinical-grade digital solutions for highly personalized fertility treatment. An increasing number of product launches, mergers & acquisitions, and developments are projected to drive the IVF services market.
Conduction of Awareness Campaigns – An Opportunity in the IVF Services Market
The awareness campaigns are substantially contributing to increasing reach of IVF technologies and therapies among populations. Such campaigns also hold considerable potential for promoting new IVF centers, information exchange, and discussions. For instance, the first week of November 2022 was observed as the European Fertility Week 2022. The week was observed to invite policymakers across Europe to improve access and quality of existing infertility treatments. Also, organizations, such as Fertility Europe, are taking concrete steps to spread the correct information about infertility treatment. In 2022, the EFW will dedicate the whole week to bringing awareness to the patient's fertility journey and the difficulties they often have to deal with. Thus, conduction of appropriate awareness campaigns is expected to provide robust showcasing platforms for companies, thereby offering growth opportunities to propel revenues within the dynamic ecosystem.
IVF Services Market Report Segmentation Analysis
Key segments that contributed to the derivation of the IVF Services market analysis are cycle type, and end user.
- Based on cycle type, the IVF Services market is divided into IVF cycles, thawed IVF cycles, and donor egg IVF cycles. The fresh IVF cycles segment held the largest share of the market in 2023; also, the same segment is anticipated to register the highest CAGR % in the market during the forecast period.
- By End users, the market is segmented into hospitals, fertility clinics, surgical centers and clinical research institutes. The fertility centers segment held the largest share of the market in 2023; also, the segment is expected to register the highest CAGR in the market during 2023–2031.
IVF Services Market Share Analysis by Geography
The geographic scope of the IVF Services market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the IVF Services market after Europe. There is an increase in the rate of infertility treatment across the country. Based on CDC’s 2018 Fertility Clinic Success Rates Report, there were 306,197* ART cycles performed at 456 reporting clinics in the United States during 2018, resulting in 73,831 live births (deliveries of one or more living infants) and 81,478 live-born infants. North America held the largest share in 2023. An inclination toward technically advanced products and the presence of global market players are factors contributing to the dominance of the North American IVF Services market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
IVF Services Market Report Scope
IVF Services Market News and Recent Developments
The IVF Services Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for IVF Services and strategies:
- In April 2023, Cryoport, Inc. a leading global provider of innovative temperature-controlled supply chain solutions for the life sciences industry and a leader in supply chain solutions for the reproductive medicine markets, announced a multi-year agreement with Inception Fertility. Inception Fertility operates The Prelude Network® (Prelude), the largest and fastest-growing technology-led network of fertility centers in North America. (Source: Prelude Fertility, Press Release, 2024)
- In April 2023, The Prelude Network, a leading provider of comprehensive fertility services in North America, has announced an exclusive partnership with Future Family (FF), a national platform for family-building with flexible financial plans and concierge support services. The partnership aims to expand financial accessibility to premium fertility services, empowering patients with more financial options and a clear understanding of treatment costs. Source: (Prelude Fertility, Press Release, 2024)
IVF Services Market Report Coverage and Deliverables
The “IVF Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Cycle Type ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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