In Vitro Fertilization (IVF) Market

Market Overview

The global In vitro fertilization (IVF) market size was valued at USD 16.09 billion in 2022. It is estimated to reach USD 27.64 billion by 2031, growing at a CAGR of 6.2% during the forecast period (2023–2031). IVF offers hope to individuals and couples facing infertility due to various factors. With the increased demand for IVF treatment, many developing countries such as India, Mexico, Brazil, and Ukraine offer treatments at a lower cost; the market will boost during the projected period.

In vitro fertilization is an advanced assisted reproductive technology (ART) that helps individuals and couples overcome infertility. It involves a series of procedures conducted in a laboratory setting to facilitate the fertilization of eggs with sperm outside the body before transferring the resulting embryos into the uterus. The IVF process begins with an evaluation of the couple's reproductive health. A personalized treatment plan is then created based on their specific needs. Ovarian stimulation is initiated to stimulate the growth and development of multiple eggs. Regular monitoring is done to track progress. Once the eggs are mature, they are retrieved using a minor surgical procedure. In the laboratory, the eggs are combined with sperm through conventional insemination or intracytoplasmic sperm injection (ICSI). The resulting embryos are cultured and monitored for quality and development. The best embryos are selected for transfer into the uterus. The embryo transfer is a quick process of placing the embryos using a thin catheter.

Medications may be prescribed following the transfer to support implantation and early pregnancy. A pregnancy test is conducted about two weeks later to determine the success of the IVF procedure. IVF offers hope to individuals and couples facing infertility due to various factors. It is used in blocked fallopian tubes, endometriosis, male factor infertility, or unexplained infertility. Success rates vary based on factors like age and embryo quality. In vitro fertilization is a complex and emotionally demanding process that requires a specialized medical team. Reproductive endocrinologists, embryologists, and fertility specialists provide individualized care and support. Their goal is to maximize the chances of success and provide compassionate care to individuals and couples on their path to parenthood.

Market Dynamics

Global In Vitro Fertilization (IVF) Market Drivers

Rising Reprotourism

With the increased demand for IVF treatment, many developing countries such as India, Mexico, Brazil, and Ukraine offer treatments at a lower cost. For instance, the cost of IVF treatment in the U.S. is between USD 15,000 and 20,000, whereas in India, it is priced between USD 3,000 and USD 4,000. This price difference has led to an increase in repro tourism. In 2013, around 300 IVF cycles were performed in the Fertility Center Cancun in Mexico. This reported number was not of the local population but the people traveling to the country for treatment. Of the 300 cycles, 60% of the patients were from Canada, 30% from the U.S., and 10% from Europe. Brazil has witnessed an increase in repro tourism in the past few years. The service varies from couples coming to the country to semen and eggs imported. Surrogacy services are also hired by countries such as the U.S., Greece, and Russia.

Technological Advancement in IVF

To increase the success rate of IVF, researchers have introduced certain techniques to be performed before the IVF technique. Advanced techniques such as assisted hatching, vitrification, egg/sperm freezing, Percutaneous Epidydimal Sperm Aspiration and Testicular Sperm Extraction (PESA and TESE), mini-IVF, three-parent IVF, and genetic diagnosis are being increasingly employed. The protein shell is normally thick in women aged 38 and above, leading to a failed pregnancy. In such cases, assisted hatching dissolves a thick zone with a laser or chemical aid. PESA and TESE are used for male infertility. Men with congenital obstruction of sperm ducts fail to ejaculate sperm produced in the testicles. In this technique, the sperms are collected by placing a needle into the testis. PRP (Platelet-rich plasma) is also one of the newest technologies to improve endometrium quality for better embryo attachment.

Global In Vitro Fertilization (IVF) Market Restraints

High Cost of IVF Treatment

Although governments have increased funding and support for IVF, it is limited to the IVF cycle cost. All other IVF treatments, besides IVF cycles, have hidden costs, and medicines are very high. The hidden costs include transport, hospital stay, consultation fees, and egg storage. In 2013, a study by Mercer reported that although 65.0% of the business covers the initial testing cost related to fertility issues, only 27.0% of the cost related to IVF is covered.

In the U.S., insurance coverage is the same in all 15 states, but most insurance companies impose stringent criteria for coverage qualification. For instance, according to RESOLVE, the insurance coverage in Arkansas, Hawaii, Maryland, and Texas is only for women fertilizing eggs with their spouse’s sperm. The coverage excludes single women, men with sperm issues, married lesbians, and men with fertility issues. Lack of coverage leads to women transferring more than one egg, which leads to multiple pregnancies. Hence, the high cost of treatment as compared to disposable income in developing regions may limit market growth in the coming years.

Global In Vitro Fertilization (IVF) Market Opportunities

Enhanced Patient Safety and Standardized Regulations Drive Demand for IVF Procedures

The global in vitro fertilization (IVF) market presents significant opportunities driven by enhanced patient safety and standardized regulations that drive the demand for IVF procedures. In recent years, there has been a concerted effort by regulatory bodies in various countries to establish standardized guidelines and protocols for IVF clinics. These rules seek to safeguard the security and well-being of patients undergoing IVF treatments and to maintain ethical practices in assisted reproductive technology.

Implementing standardized regulations has led to several benefits, including improved patient safety. By adhering to strict quality control measures and ethical guidelines, IVF clinics can provide patients with a secure and controlled environment, reducing the risks associated with fertility treatments. Standardized regulations also help streamline processes, ensuring procedure consistency and minimizing the chances of errors or complications.

Regional Analysis

Based on region, the global In vitro fertilization (IVF) market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global In vitro fertilization (IVF) market shareholder and is estimated to grow at a CAGR of 5.1% over the forecast period. Standardization of procedures through automation, regulatory reforms, government funding for egg/sperm storage, and the introduction of more IVF treatments by industry players are among the major factors contributing to the growth of the IVF market in North America. In April 2016, Reprogenetics published its research study validating High-Resolution Next-Generation Sequencing (HR-NGS) techniques. The company, the largest genetic laboratory in the U.S., provides Preimplantation Genetic Diagnosis for Aneuploidy (PGD-A). The new test detects mosaic embryos that help select healthy embryos during IVF.

Moreover, the Toronto Centre for Advanced Reproductive Technology (TCART) was the first Canadian clinic to provide free fertility treatment to 60 women to experiment with the AUGMENT rejuvenating technique. The technique helps rejuvenate older cells by taking smaller cells from the outer lining of the ovary.

Europe is anticipated to exhibit a CAGR of 5.4% over the forecast period. An increase in medical tourism is driving the growth of the IVF market in Europe. A rising number of people from the U.S. are traveling to the Czech Republic to avail of IVF treatments at lower costs. However, individuals who cannot afford to fly to Europe undergo treatments at about one-third the cost offered by clinics in the U.S. An IVF treatment, comprising fertilization and growth and development of the egg, costs ~USD 20,000. Using an egg donor may cost about USD 30,000.

Moreover, most people seek help from agents or IVF brokers who assist them in finding hospitals and clinics that offer lower-cost treatments. Institutes are introducing newer techniques that ensure higher success rates. For example, the Valencian Infertility Institute in Spain has developed various fertility methods to increase success rates. The clinic uses a time-lapse microscope to reduce the exposure of the fertilized egg to the outside environment. Another technique pioneered by the institute is the Endometrial Receptivity Array (ERA), which helps determine the exact time to implant an embryo in the womb.

In Asia-Pacific, the demand for IVF treatments is expected to increase due to the growth in fertility tourism, the number of international companies trying to penetrate economically developing countries, and a change in the regulatory landscape in Asia-Pacific. The Asia-Pacific Initiative on Reproduction (ASPIRE) is a task force of clinicians and scientists engaged in managing fertility and ART. It promotes awareness regarding ART and infertility and enhances infertility-related services in the region.

In Latin America, the demand for this treatment is likely to increase because of the lift of the ban on IVF, the availability of various cost-effective techniques, and the increase in affiliation of clinics with several regulatory bodies, such as the Brazilian Federal Medicine Council (CFM), Red Latinoamericana de Reproduccion Assistida (Anvisa), and National Surveillance Agency. In February 2016, the Inter-American Commission on Human Rights lifted the ban on IVF to control the drastic increase in multiple births. This decision is expected to bring international as well as national businesses.

The Ministry of Health and Prevention drafted the rules for gamete freezing in the UAE in the Middle East and Africa. Although various clinics offer egg-freezing facilities, they can only be used by women to whom the eggs belong. Women can avail of this facility after showing proof of marriage. Iran is emerging as a potential market in the Middle East, and with over 70 fertility clinics and IVF treatments funded by the government, many people are using this technology. IVF cycles in Iran are among the cheapest and cost USD 1,500, including drugs. The ART market has a huge potential owing to the high percentage of contraception used.

Segmental Analysis

The global In vitro fertilization (IVF) market is bifurcated into type, end use, and instrument.

Based on type, the global In vitro fertilization (IVF) market is bifurcated into fresh nondonor, frozen nondonor, fresh donor, and frozen donor.

The fresh nondonor segment dominates the global market and is projected to exhibit a CAGR of 6% over the forecast period. In the U.S., according to the 2010 and 2012 data by the CDC, out of the different cycles available, fresh nondonor led the market with the maximum number of cycles performed in both years. IVF with ICSI was the most widely used for fresh nondonor eggs or embryos, followed by IVF without ICSI. According to the 2003–2012 trends by the CDC, the number of fresh nondonors banking eggs/embryos for future use has increased considerably.

The global In vitro fertilization (IVF) market is bifurcated into fertility clinics and hospitals based on end-use.

The fertility clinics segment dominates the global market and is projected to exhibit a CAGR of 6.3% over the forecast period. Fertility clinics held the largest market share in 2018 and will likely dominate throughout the forecast period. The number of fertility clinics and ART centers increased considerably with the demand for ART treatments. Licensed fertility clinics offer counseling to couples facing problems in conceiving. Based on the severity of their problems, doctors and specialists plan their IVF treatment. The fertility clinics are anticipated to witness the highest growth rate in the coming years. All fertility clinics and ART centers must comply with specific guidelines to operate in certain regions. To obtain licenses in specific countries, fertility clinics need to fulfill all the requirements presented by the regulatory agencies in their respective countries.

Based on the instrument, the global In vitro fertilization (IVF) market is bifurcated into culture media, disposable devices, and capital equipment.

The culture media segment dominates the global market and is projected to exhibit a CAGR of 4.7% over the forecast period. An increase in government funding and organizational support for employees for egg/sperm freezing has led to a high demand for cryopreservation and culture media. Several research activities are being undertaken to improve the efficiency of cultural media. Vitrolife showcased its research on the SpermFreeze solution at the American Society for Reproductive Medicine. The study established that the solution and egg yolk-containing media showed similar effectiveness for sperm recovery and sperm-hyaluronic acid binding. Its advantage over egg yolk media was that the risk of disease transfer from the animal was eliminated. With such developments, the demand for cryopreservation media is expected to increase.

Recent Developments

• June 2023- MilliporeSigma announced the launch of its new CellTox™ Assay Platform. The platform is a suite of in vitro assays designed to assess the safety of chemicals and drugs.
• May 2023- WuXi AppTec announced the expansion of its in vitro toxicology capabilities. The expansion includes the addition of new assays and the launch of a new service for the development of custom in vitro assays.