DUBLIN--(BUSINESS WIRE)--The "IVF Devices and Consumables Market by Product, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
Global IVF devices and consumables market size was valued at $2,243 million in 2018, and is expected to reach $7,732 million by 2026, growing at a CAGR of 16.6% from 2019 to 2026.
In vitro fertilization (IVF) is a type of assisted reproductive technology in which the ovum is artificially fertilized in laboratory settings and then implanted into the uterus. IVF is one of the widely used treatments, which assists couples with infertility problems, single mothers, and the LGBT community to procreate.
Increase in infertility rate, rise in awareness toward IVF, growth in demand for advanced IVF technologies, and surge in IVF success rate are the key factors that drive the growth of the IVF devices and consumables market globally. However, the market growth is restricted by higher costs associated with IVF devices and ethical issues & complications associated with IVF.
Based on product, the accessory & disposable segment is the major revenue contributor, and is expected to dominate the market during the forecast period, due to their cost-effectiveness. However, the instrument segment is anticipated to grow at the highest rate, due to technological advancements and surge in demand for advanced IVF devices.
Based on technology, fresh embryo IVF is the major revenue contributor, and is expected to show dominance during the forecast period, due to its advantages such as higher success rate, convenience, cost-effectiveness, and safety.
Depending on end user, the global IVF devices and consumables market is dominated by the fertility clinic segment, and this trend is likely to continue during the forecast period, due to low cost of treatment and increase in number of fertility clinics. However, the surgical center segment is expected to grow at a significant rate, due to increase in number of surgery centers in developing regions and rise in use of IVF.
Key Findings of the IVF Devices and Consumables Market:
- The IVF devices and consumables market trends are analyzed through different verticals such as product, technology and end user in the report
- Based on product, the instrument segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 20.4% from 2019 to 2026.
- By technology type, the fresh embryo IVF segment exhibits fastest growth, and is expected to register a CAGR of 17.0% from 2019 to 2026.
- Depending on end user, the fertility clinic segment held more than half share of the global market share in 2018, and is expected to remain dominant throughout the forecast period.
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 18.6% during the forecast period.
Market Dynamics
Drivers
- Delayed pregnancies in women
- Increase in global infertility rates
- Technological advancement in IVF devices
- Increase in gamete donations
- Increase in disposable income
- Increase in success rates
- Surge in healthcare expenditure worldwide
Restraints
- Cost constraints
- Complications associated with IVF treatment
- Low awareness level
Opportunities
- Fertility tourism
- Growth opportunities in the emerging markets
- Increase in number of fertility clinics
- Rise in same sex marriages
Company Profiles
- Cook Medical Inc.
- The Cooper Companies, Inc. (CooperSurgical, Inc.)
- Merck KGaA (EMD Serono, Inc.)
- Genea Biomedx
- Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.)
- Millendo Therapeutics, Inc.
- Oxford Gene Technology
- Progyny Inc.
- Thermo Fisher Scientific Inc.
- Vitrolife AB
For more information about this report visit https://www.researchandmarkets.com/r/l3m35w
