Global In-Vitro Fertilization Market: Snapshot
The global in-vitro fertilization market is developing at a high pace with the technological advancements and the introduction of advanced treatments. The high awareness rate among people and the rising spending capacity of people, especially in emerging nations to ensure the growth of the market in the near future. As per the research study by TMR, the in-vitro fertilization market is expected to exhibit a healthy 6.50% CAGR from 2017 to 2022.
Reduction in Fertility Rates to Encourage In-vitro Fertilization Market Growth
The global in-vitro fertilization market is expected to rise at a fast pace over the next few years. The increasing awareness among people related to the condition of infertility and the availability of several effective treatment options are estimated to encourage the development of the global market in the coming years. Governments, across the globe, are making ardent efforts in creating an awareness among people regarding IVF treatments and the advent of advanced products are estimated to enhance the development of the overall market in the near future. Also, the reducing fertility rate and the substantial rise in the number of male infertility are projected to ensure the growth of the market in the coming years.
On the other hand, the in-vitro fertilization market is predicted to face several challenges, which may result in a downfall of growth in the coming years. The low success rate and the high cost of IVF treatment and the reducing efficacy of the infertility treatment with the developing age are estimated to curb the growth in the near future. Nonetheless, the rapid development of the fertility tourism is expected to ensure the development of the in-vitro fertilization market in the next few years.
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Development of Medical Tourism to Propel In-vitro Fertilization Market in Asia Pacific
The global in-vitro fertilization market has been categorized in terms of geography into Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. The Asia Pacific market is projected to lead and remain in the position over the next few years. The increasing popularity of medical tourism and the increasing number of government initiatives are anticipated to support the development of this region in the next few years. The research study by TMR states that the Asia Pacific market is expected to exhibit a promising 6.80% CAGR from 2017 and 2022. Europe and North America markets for in-vitro fertilization are anticipated to experience a promising growth in the next few years. The rising investments and the technological developments in the IVF technologies are predicted to support the growth in the coming years.
The in-vitro fertilization market is characterized by a high level of competition, due to the existence of a large number of players operating across the globe. The competition among the players is expected to get intense with the next few years with the growing focus of the players on the research and development activities. Also, the key player are emphasizing on the development of new products and innovations in the in-vitro fertilization, which is predicted to offer lucrative opportunities over the next few years. The leading players in the in-vitro fertilization market include CooperSurgical, Ovascience, Inc., Rocket Medical PLC, Vitrolife AB, Thermo Fisher Scientific, Inc, Genea Ltd., Cook Medical, Fertility Focus Ltd., Merck KGaA, and EMD Serono, Inc.