In-vitro Fertilization Services Market Growth
Rising cases of infertility among women & stress induced by fast paced urban lifestyle is driving in-vitro fertilization services market share. According to the Center for Disease Control and Prevention (CDC), around 6.1 million women in the U.S., aged between 15-44 years, have difficulty getting or staying pregnant. Surge in infertility cases among women can be attributed to factors like hormonal imbalance, excess alcohol & caffeine consumption, eating disorder, obesity and stress.
U.S. in-vitro fertilization services market, by procedure, 2018 & 2025 (USD Million)
Additionally, growing trend of delaying pregnancy until the ages of 30 to 40 is also leading to rise in cases of infertility lately. For instance, according to The Office on Women’s Health (OWH), woman over the age of 30 are often diagnosed with fertility problems.
Rising obesity as well as hectic urban lifestyle will boost in-vitro fertilization (IVF) services market trends over the forecast period. Furthermore, supportive government initiatives to promote such procedures will positively impact industry forecast. Citing an instance, as of April 2019, female employees in Romania, who decide to undergo an in-vitro procedure, will be offered three days of paid leave owing to recent changes in the country’s Labour Code which aims at promoting in-vitro fertilization.
Additionally, in July 2019, the French government passed a bioethics bill that would allow in-vitro fertilization (IVF) for single women and lesbian couples in the country. Such advancements are expected to offer growth opportunities for players in the in-vitro fertilization services market.
With growing infertility rate among men worldwide, the intracytoplasmic sperm injection (ICSI) procedure segment is anticipated to generate added proceeds in the coming years. According to a new study from the Hebrew University of Jerusalem, sperm count in men from Europe, North America, Australia and New Zealand has declined by 50%-60% between 1973 and 2011. Moreover, experts suggest that men across these regions are likely to have little or almost no reproductive capacity by 2060.
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Reportedly, factors like unhealthy lifestyle, lack of physical activity, work stress, pollution, poor diet, alcohol consumption and smoking contribute to increased rate of infertility in men. Doctors from the All India Institute of Medical Sciences (AIIMS) have also reported that over 12–18 million couples in India are diagnosed with infertility each year.
With rapid medical advancements and development in assisted reproduction techniques like intracytoplasmic sperm injection (ICSI) and IMSI (intracytoplasmic morphologically selected sperm injection), men with poor sperm will also be able to father children. According to a study by the University of Aberdeen, among 2,133 women who undertook IVF or ICSI procedures, 1,060 had achieved a live birth, of whom 15% later had another live birth independent of treatment within five years. With such promising results, the demand for ICSI will increase significantly in coming years and is anticipated to boost IVF services industry growth over the forecast period.
Based on end-use, the fertility centers segment in IVF services market is anticipated to accrue momentous growth because of increasing demand for infertility procedures worldwide coupled with rapid advancements in reproductive technology. Increasing urbanization and rise in number of investments & infrastructure expansions worldwide will further compliment segment growth.
Additionally, in 2019, Shady Grove Fertility (SGF), one of the leading fertility centers in the U.S., announced the opening of its newest full-service in vitro fertilization (IVF) center in Tampa, Florida, providing access of high-quality fertility care to patients. Expansions like these will offer new growth opportunities in the fertility centers segment, thereby boosting IVF services market size.
In terms of regional share, the U.S. IVF services market is anticipated to hold major revenue share due to growing awareness regarding IVF procedures along with rise in government initiatives to encourage people to avail such treatments. In 2016, Congress authorized the Department of Veterans Affairs to cover IVF and other fertility treatments for veterans who struggle to have children caused by service-related issues. Additionally, increasing prevalence of infertility among Americans will further boost U.S. IVF services market size over the forecast period.
Global IVF service market will reap the results of rapid advancements in reproductive technologies and rising cases of infertility worldwide. Increasing investments in R&D and expansion strategies are supplementing fertility center growth worldwide. Additionally, government initiatives focused on lowering IVF treatment cost is enhancing industry outlook. Global Market Insights, Inc., estimates IVF services market size to exceed USD 17.3 billion by 2025.
Author Name : Mateen Dalal