Due to the rising incidence of delayed pregnancies in women, the increasing global infertility rates, rapid technological advancements, the surging gamete donations, and the soaring disposable income, the global in vitro fertilization (IVF) devices and consumables market is predicted to demonstrate huge expansion in the coming years. According to the observations of P&S Intelligence, a market research company based in India, in emerging economies, one out of every four couples are affected by the increasing infertility rates.
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As per the Statistics published by the World Bank, the total fertility rate across the world has reduced from 4.7 in 1970 to around 2.4 in 2015. This is because of the changing lifestyle habits of people and the growing prevalence of various diseases such as certain fertility-related diseases and sexually transmitted diseases (STDs) throughout the world. For example, smoking causes a 50% reduction in the chances of pregnancy in women.
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Depending on technique, the IVF devices and consumables market is classified into fresh-embryo IVF, frozen-embryo IVF, and donor-egg IVF. Amongst these, the fresh-embryo IVF category will register the fastest growth in the market in the forthcoming years. This will be due to the rising instances of delayed pregnancy cases and the increasing infertility rates among women across the world. When end user is taken into consideration, the market is categorized into surgical centers, fertility clinics, hospitals, and clinical research institutes.
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In the coming years, the market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region. This will be a result of the low production costs of the IVF devices and the ballooning demand for IVF procedures, on account of the rapidly growing fertility tourism industry in the region. Additionally, the surging healthcare awareness among the masses and the availability of a highly-skilled workforce will boost the market advancement in the region in the upcoming years.