Infertility Devices Market – 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 procedures. IVF is the most common technique to treat infertility. The adoption and success rate of IVF is high. For instance, 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 was valued at US$ 7,104.1 million in 2018, and is expected to exhibit a CAGR of 8.4% over the forecast period (2019-2027).
Figure 1. Global Infertility Devices Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Rising adoption of collaboration and acquisition strategies by the market players are expected to boost growth of the infertility devices market
The infertility devices market is expected to witness significant growth, owing to increasing adoption of acquisition, and collaboration strategies by the market players. For instance, in July 2019, Thermo Fisher Scientific Inc. entered into a global research collaboration with Predictive Laboratories, a wholly owned subsidiary of Predictive Technology Group Inc. focused on studying the underlying genetic factors leading to infertility in women. Moreover, in June 2018, Vitrolife AB, and GE Healthcare entered into a partnership to improve its assisted reproductive technology offerings. This partnership has helped Vitrolife to expand its IVF product portfolio in the global market.
Rising age is associated with increasing chances of infertility, which is expected to bolster the infertility devices market growth over the forecast period. According to the National Survey of Family Growth’s factsheet, in 2017 nearly 8.8% of women aged from 15 years to 49 years were infertile among these, around 12.7% of women received infertility services from 2015 to 2017 in the U.S.
Increasing awareness among healthcare professionals about infertility treatment is expected to fuel adoption of such treatment options, which is further expected to propel the market growth over the forecast period. For instance, in 2017, Merck in collaboration with Genea, launched Centre of Excellence for Fertility (CoE) to offer scientific and clinical training modules for fertility professionals, to equip them with advanced understanding to produce enhanced clinical outcomes for patients.
Moreover, increasing product approvals and product launches by the key players are expected to boost growth of the infertility devices market over the forecast period. For instance, in September 2019, FUJIFILM Irvine Scientific, Inc. launched Vit Kit-NX (Vit Kit-NX comprising of Vit Kit Freeze-NX and Vit Kit Warm-NX) as addition to an established portfolio of vitrification solutions for in vitro fertilization (IVF).
Figure 2. Global Infertility Devices Market Share (%), by Product Type, 2019 and 2027
Source: Coherent Market Insights Analysis (2019)
Infertility Devices Market - Regional Analysis
North America is expected to hold a dominant position in the global infertility devices market in 2018, owing to high presence of charitable trusts that provide funds to infertile individuals for treating 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.
Europe is expected to account for significant market share in the global infertility devices market over the forecast period, owing to favorable reimbursement policies for infertility treatment by the government and facility expansion by the market players in the region. For instance, in December 2019, The Cooper Surgical, a subsidiary of the Cooper Companies Inc., opened a new center of excellence IVF training lab in Malov, Denmark to increase its presence in the Europe market.
Moreover, Asia Pacific is expected to witness significant 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 around 10 to 14% of the Indian population, with higher rates in urban areas where one out of six couples are affected from it.
Key Players
Major players operating in the global infertility devices market include Carl Zeiss Meditec AG, Thermo Fisher Scientific Inc., Vitrolife AB, The Baker Company, Inc., The Cooper Companies, Inc., Fujifilm Irvine Scientific, IVFTECH APS, Kitazato Corporation, MedGyn Products, Inc., Rocket Medical plc, SOMATEX Medical Technologies GmbH, Cook Group Incorporated, Esco Micro Pte Ltd, Hamilton Thorne, Ltd, and Art Biotech Pvt. LTD
Infertility affects a large population on a global scale. For instance, according to the World Health Organization (WHO) 2012 report, infertility affected one out of four couples in the emerging economies. Several institutes are working towards developing efficient treatment for infertile couples. To treat infertility, there are many treatments available such as in-vitro fertilization (IVF), artificial insemination, laparoscopic surgery, and others.
Market Dynamics
Increasing infertility rates is expected to propel global demand for infertility devices. For instance, according to the Center for Disease Control and Prevention (CDC) report of 2018, around 6% of women aged 15 to 44 years in the U.S. were unable to conceive after one year of trying (infertility). Moreover, around 12% of women aged 15 to 44 years in the U.S. had difficulty in conceiving or carrying a pregnancy to term. Infertility also affects men. According to the same source, around 9% of men aged 25 to 44 years in the U.S. reported that they required medical help for reproduction.
Rising product launches by the market players is expected to propel the market growth over the forecast period. For instance, in November 2019, Thermo Fisher Scientific Inc. launched two new products for in-vitro fertilization (IVF) applications, the Thermo Scientific Nunc IVF ICSI and Center Well petri dishes.
However, factors such as high cost associated with infertility treatments is expected hinder growth of infertility device market over the forecast period. 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:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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