Infertility Devices Market – Insights
Infertility patients are opting for various type of treatments such as In vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), intrauterine insemination (IUI), and other procedure. IVF is the most common technique to treat infertility. The adoption and success rate of IVF is high. According to a clinical study conducted by IVF Australia in 2015, the success rates range from 37% per embryo transfer leading to a live birth for patients under 30 years, to 8.8% per embryo transfer leading to a live birth for patients over 40 years.
The global infertility devices market size was valued at US$ 1,289.2 million in 2018, and is expected to witness a CAGR of 8.2% over the forecast period (2019 – 2026).
Global Infertility Devices Market Share (%) Analysis, By Product Type, 2017
Source: Coherent Market Insights Analysis (2019)
Increasing FDA Approvals for Devices and Rising Government Funding are expected to Drive Growth of the Infertility Devices Market over the Forecast Period
The infertility devices market size is expected to witness significant growth, owing to increasing number of product launches to treat infertility, efficiently. For instance, in November 2015, INVO Bioscience, Inc., a medical device company announced that the U.S. Food and Drug Administration (FDA) approved the company's de novo request for the INVOcell. The INVOcell is the first intravaginal culture system that granted marketing clearance in the U.S.
Moreover, increasing government funding programs for infertility are also expected to drive the infertility devices market growth. For instance, in December 2015, the Ontario (Canada) government launched the Ontario Fertility Program to provide funds to help infertile patients to achieve pregnancy. Access to funded fertility services is available for all forms of infertility (including medical and non-medical infertility), regardless of gender, sexual orientation, or family status.
Infertility Devices Market - Restraints
Challenges in infertility devices market include the risks associated with the Assisted Reproductive Technology (ART) which are multiple pregnancy, ectopic pregnancy, ovarian hyper stimulation syndrome (OHSS), premature delivery, miscarriage, etc. For instance, according to Southern California Reproductive Center (SCRC) data published in 2017, around 40% of all IVF pregnancies in the US resulted in multiple births. Furthermore, some patients may be concerned about ethical issues which may hamper the infertility devices market growth.
Infertility Devices Market - Regional Insights
On the basis of region, the global infertility devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global infertility devices market in 2017, owing to high presence of charitable trusts that provide funds to infertile individuals for infertility problems. For instance, BabyQuest Foundation is a charitable organization based in California, U.S., was established in 2011. The goal of this non-profit organization is to grant financial assistance to those who cannot afford infertility treatments such as IUI, IVF, and egg donation. They disburse funds twice a year according to the availability of funds.
Asia Pacific is expected to witness growth in the infertility devices market during the forecast period. The market in the Asia Pacific is expected to gain momentum during the forecast period, owing to an increasing prevalence of infertility rates in the Asian population. For instance, according to the Indian Society of Assisted Reproduction (ISAR) report of 2017, infertility affects about 10 to 14% of the Indian population, with higher rates in urban areas where one out of six couples are affected from it. Nearly 27.5 million couples actively trying to conceive suffering from infertility in India.
Global Infertility Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2026
Source: Coherent Market Insights Analysis (2019)
Infertility Devices Market - Competitive Landscape
Key players operating in the global infertility devices market include Cook Group Incorporated, Esco Micro Pte. Ltd., Genea Limited, Hamilton Throne, Ltd., IHmedical A/S, Irvine Scientific (Jx Holdings Group), IVFTech Aps, Kitazato Corporation, Medgyn Products, Inc., Rocket Medical Plc., Somatex Medical Technologies GmbH, The Baker Company, Inc., The Cooper Companies, Inc., Thermo Fisher Scientific Inc., Vitrolife Ab, and Zeiss Group.
Infertility affects a large population on a global scale. According to the World Health Organisation (WHO) 2012 report, infertility affects one out of four couples in emerging countries. Several institutes are working towards developing efficient treatment for infertile couples. To treat infertility, there are many treatments available such as in-vitro fertilisation (IVF), artificial insemination, and laparoscopic surgery. Technological developments in the infertility devices market are helping many couples to conceive thereby increasing the infertility devices market revenue. For instance, in 2018 researchers at Worcester Polytechnic Institute, Massachusetts developed a Sperm-sorting device called SPARTAN (Simple Periodic ARray for Trapping and IsolatioN) to sort and select faster and healthier sperm cells for use in IVF treatment and to achieve pregnancy within fewer treatment cycles.
Increasing infertility rates is highly contributing to the global demand for infertility devices. According to the Centres for Disease Control and Prevention (CDC) report of 2018, about 6% of women aged 15 to 44 years in the U.S. are unable to conceive after one year of trying (infertility). Also, about 12% of women aged 15 to 44 years in the U.S. have difficulty in conceiving or carrying a pregnancy to term. Infertility also affects men. According to the same source, almost 9% of men aged 25 to 44 years in the U.S. reported that they required medical help for reproduction.
However, factors such as high cost associated with infertility treatments can hinder growth of infertility device market. For instance, according to the data published in the American Pregnancy Association (APA), in January 2019, IVF treatments are very expensive and many insurance plans do not provide coverage for fertility treatment. The cost for a single IVF cycle can range from at least US$12,000 - US$17,000 and an infertile women require at least three IVF cycles to achieve pregnancy.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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