For the 2015-2025 forecast period, BlueWeave Consulting research offers study of the in vitro fertilization (IVF) services market, which is expected to grow at a CAGR of 8.9%. Delayed pregnancies, an increase in global infertility rates, gamete donations, and rate of success of IVF have enhanced the growth of the global market for IVF services. Additionally, spending on healthcare worldwide and increasing spending power have supported the growth of the sector. Price restrictions, IVF treatment difficulties, and low awareness, however, hamper the growth of the market.
Nevertheless, it is predicted that the rise of fertility tourism, a growing number of fertility clinics, and an increase in a same-sex marriage would generate lucrative opportunities for the market growth during forecast period of 2019-2025. Additionally, the global IVF services market is driven by increasing cases of fertility problems among women due to lifestyle change. High acceptance of IVF procedures in both urban and rural areas has guided an impressive growth path for the IVF services sector.
Fertility centres end-user segment holds the largest market share of IVF services during the forecast period
Technological advancement in IVF devices and services is the main driving factor in the development of the segment of IVF clinical research institutes. Due to increasing demand for infertility procedures globally coupled with rapid developments in reproductive technology, the fertility centers division in the IVF services market is expected to witness momentous growth. Growing urbanization and increasing number of expenditures and upgrades in infrastructure worldwide will further complement the growth in the segment. Fertility clinics and specialist hospitals, however, play a key role in offering IVF services for people seeking infertility treatment assistance. Therefore, the accessibility of a wide range of fertility treatments under one roof combined with government reimbursements fuels the development of the fertility clinic market.
Rising government initiatives & strict government regulation is predicted to be the major driving factor of the IVF services in the United States
The market for IVF Services in U.S. (North America) is expected to gain large revenue shares due to increased awareness of IVF procedures and increased government programs to encourage people to use such treatments. In 2019, one of the leading fertility center in the U.S., Shady Grove Fertility (SGF), announced the launch of its new complete-service IVF facility in Tampa, Florida, providing patients with access to high-quality fertility treatment. Moreover, a bioethics bill was passed by the French government, which would allow IVF in the country for single women and lesbian couples. These developments will offer new opportunities for the growth in the fertility center sector and increasing the size of the market for IVF services.
IVF Services: Competitive Landscape
The major market players in the IVF services market are focusing on expanding their portfolio of services in global market. Some major market players are Bangkok IVF center, Bloom Fertility and Healthcare, Fertility Associates, Genea Oxford Fertility, Klinika Bocian, Morpheus IVF, Manipal Fertility, Cloudnine IVF, Amedes MVZ Cologne GmbH, AMP Center St Roch, Biofertility Center, Ambroise Par? Group, AVA Clinic Scanfert, Southern California Reproductive Center, Monash IVF, ManorIVF, Bloom Reproductive Institute, Fertility First, Shanghai Ji Ai Genetics & IVF Institute, Betamedics, Bourn Hall Fertility Center, Bloom Fertility Center and other prominent players.