Global Infertility Devices Market, by Product Type (Equipment and Accessories), by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery, and Others), by Gender (Male and Female), by End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Increasing adoption of collaborations and partnerships by key players are expected to propel the market growth over the forecast period. For instance, in October 2019, Carl Zeiss Meditec AG entered into a partnership with Kyoto University to increase the company’s research and development capabilities. Similarly, in November 2019, Invo Bioscience announced that they have entered commercialization agreements for the InvoCell in-vivo fertility system in Turkey and Jordan, to support the company’s expansion into Middle East.
Rising prevalence of infertility is expected to boost growth of the infertility devices market over the forecast period. For instance, according to the International Journal of Women’s Health and Reproduction Sciences, in 2018, the global prevalence of infertility was 10-15%. According to the same data source, in Iran, couples suffering from primary and secondary fertility problems were around 78.4% and 21.6%, respectively in 2018.
Moreover, increasing government funding programs for infertility is further expected to drive the infertility devices market growth over the forecast period. For instance, in December 2015, Ontario (Canada) government launched the Ontario Fertility Program to provide funds to help infertile patients to overcome such infertility problems. Moreover, access to funded fertility services was available for all forms of infertility (including medical and non-medical infertility), regardless of gender, sexual orientation, or family status.
Browse 38 Market Data Tables and 29 Figures spread through 214 Pages and in-depth TOC on ‘Infertility Devices Market’- Global Forecast to 2027, by Product Type (Equipment and Accessories), by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery, and Others), by Gender (Male and Female), by End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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North America is expected to hold a dominant position in the infertility devices market over the forecast period, owing to adoption of growth strategies such as product launches, investments, and facility expansion by the market players in the region to enhance their market presence. For instance, in November 2015, INVO Bioscience, Inc., a medical device company announced that the U.S. Food and Drug Administration (FDA) approved company's De Novo request for INVOcell. INVOcell is the first intravaginal culture system that was granted marketing clearance in the U.S.
Moreover, rising adoption of inorganic growth strategies such as distribution agreement, collaborations, and acquisitions by market players in North America are expected to boost the infertility devices market growth in the region during the forecast period. For instance, in November 2018, Ferring Pharmaceuticals signed an agreement to acquire the exclusive U.S. commercialization rights for the INVOcell intravaginal culture (IVC) system from INVO Bioscience Inc. The system includes the INVOcell IVC device, retention device, and holding block.
Furthermore, Europe is expected to witness significant growth in the infertility devices market during the forecast period, owing to favorable reimbursement policies by governments for infertility treatment. For instance, according to the European Policy Audit on Fertility (EPAF) rules, there is 100% coverage for women under 43 years for four IVF treatments and up to six IUI treatments in France.
Key Takeaways of the Infertility Devices Market:
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