The size of global in vitro fertilization market in terms of revenue was estimated to be worth $638 million in 2021 and is poised to reach $987 million by 2026, growing at a CAGR of 9.1% from 2021 to 2026.
The in vitro fertilization (IVF) market include major Tier I and II suppliers of in vitro fertilization equipment, reagents and media are The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Corning Corporation (US), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), and Eppendorf (Germany). These suppliers have their manufacturing facilities spread across regions such as North America, Europe, Asia Pacific.
The rise in number of IVF with ICSI procedure to support the market growth during the forecast period.
The success rate of fertilization with ICSI procedure and the growing utilization of the ICSI during IVF procedure are anticipated to boost the adoption of IVF with ICSI procedures, accelerating the growth of the segment during the forecast period. Moreover, the growing focus of players in expanding their product offerings in ICSI is anticipated to contribute towards the rapid adoption of IVF with ICSI procedures during the forecast period.
Asia Pacific likely to emerge as the fastest-growing in vitro fertilization market, globally.
Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 10.1% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, rising medical tourism in Asian countries, increasing healthcare expenditure, and growing awareness among people about infertility are supporting the growth of the in vitro fertilization market in the region.
Prominent players in this market are The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), FUJIFILM Irvine Scientific (US), Kitazato Corporation (Japan), and Hamilton Thorne Ltd. (US), among others
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