In vitro fertilization has become a major fertility treatment process through which egg is fertilized by sperm outside the body. IVF is a process that involves stimulating and monitoring woman’s ovulatory process, removing ovum from the woman's ovaries followed by its fertilization with sperms in a fluid medium in a laboratory.
As per latest report published by Allied Market Research, Global In vitro fertilization market is expected to reach a figure of $21.6 billion by 2020 from $9.3 billion in 2012, growing at a CAGR of 11.6% between 2013 and 2020.
Medical tourism is unraveling many opportunities for IVF market. Cost of IVF treatment in North America will cost around $10000-$1500, whereas in Thailand, IVF treatment can be done in $6000. Due to increasing focus on advanced technologies, favourable health care cost and improving health care infrastructure; developing countries are becoming hotspot for IVF treatment. There are some 30 countries globally which have ART (assisted reproductive techniques) with some limitations.
As per the report, rising infertility among couples is major factor for the growth of IVF market. Also, in U.S, egg donation has gone up to a figure of 18000 in 2010 from 11,000 in 2000, due to rising awareness regarding same.
As per the experts, Intra cytoplasmic sperm injection (ICSI) is a very useful technique that helps to treat the infertility in couples. This technique is best for those who have earlier faced consecutive failures in treatment through conventional IVF methods.
High cost of IVF treatment would deter its growth as normal procedure would cost you around $10,000-$20,000. Europe is anticipated to generate revenue of $8 billion by 2020, growing at a CAGR of 10.2% from 2012-2020. Also, Asia Pacific region will grow at a CAGR of 17.1% from 2013-2020
Some of the important players in the field of IVF as per this report are Irvine scientific, Serono Inc, Cook Medical Inc., Irvine scientific, hermo Fisher Scientific Inc, Ovascience and Oxford Gene Technology
Research Analyst at Allied Market Research
Deepa Tatkare has an experience of more than 3.5 years in market assessments and forecasts in healthcare & medical device industry. She is actively involved in providing critical insights on business research to clients with her subject matter expertize. Her profile includes planning, commissioning, and executing syndicate as well as customized research projects. She has successfully analyzed and presented data for studies related to medical devices, biotechnology, and pharmaceutical domains.