IVF market to reach USD 1,940.8M by 2034
The in vitro fertilization market is on its way to perceive a surge in valuation, from US$ 1.50 billion in 2024 up to US$ 4.80 billion by 2034. FMI report indicates a healthy CAGR of 12.30% between 2024 and 2034, reckoning an influential IVF market growth.
The amplifying consciousness regarding infertility and the accessibility of alternative medications are the determining catalysts obligated to augment the in vitro fertilization market growth. Factors like the attainability of innovative products, boosting male infertility, escalating utilization of cigarettes and alcohol, and elevating government schemes to strengthen IVF treatment reinforce segment growth.
The surge in the middle age of new mothers, diminishing fertility rates, ascending obesity rate, flourishing demand for alcohol, and towering knowledge about treatment options stimulate the in vitro fertilization market growth. Conversely, the impediments like the high cost inhibit the IVF industry growth. The low success percentage of IVF treatment constrains the market expansion.
The emerging economies’ technological breakthroughs and product advancements catalyze lucrative opportunities for IVF. Inversely, the stringent rules and ethical issues, along with diminishing the efficiency of infertility therapy among patients with increasing age, have the prospective to slow down the in vitro fertilization market growth.
Regional outlook
North America is the most significant in the global in vitro fertilization market over the forecast period. Standardization of techniques through policy shifts, automation, government investments for egg or sperm storage, and the emergence of IVF therapies by providers are significant stimuli aiding the market growth in North America.
Europe’s in vitro fertilization (IVF) market possesses the second spot in terms of share because of the accessibility of advanced treatment clinics, government support for IVF growth, and skilled medical professionals. The German sector reigned the top spot, and the United Kingdom industry emerged as a swiftly widening sector in the European region.
Asia Pacific has a potential for notable CAGR from 2024 to 2034 and exhibits an attractive potential for future growth of the in vitro fertilization market. This is credited to the populous region, swiftly dropping fertility rates, ascending government plans for women, an inclination towards careers over family, and thriving knowledge of fertility clinics and processes. The heightening recognition in the people of IVF treatments, escalating healthcare costs, and surging usage of modern reproductive procedures in the Asia Pacific are the key catalysts of the IVF sector, igniting enthusiasm regarding the unrecognized potential. Future Market Insights
