In Vitro Fertilization Market to be Worth $4.20 Billion by 2031

In Vitro Fertilization Market Size, Share, Forecast, & Trends Analysis by Type (Natural, Intracytoplasmic, Minimal), Product (Imaging, Cryosystems, IVF Cabinets, Incubator, Media, Sperm Analyzer), Cycle, Application, End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘In Vitro Fertilization Market Size, Share, Forecast, & Trends Analysis by Type (Natural, Intracytoplasmic, Minimal), Product (Imaging, Cryosystems, IVF Cabinets, Incubator, Media, Sperm Analyzer), Cycle, Application, End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the In Vitro Fertilization (IVF) market is projected to reach $4.20 billion by 2031 at a CAGR of 7.1% from 2024 to 2031. The growth of the IVF market is primarily driven by increasing infertility rates, technological advancements in IVF procedures, the high success rates of pregnancy through IVF, changing socio-cultural norms, favorable government regulations & policies, and the reducing costs of IVF. However, the health risks & complications associated with IVF treatment, such as ovarian hyperstimulation syndrome and multiple pregnancies, and the risk of unsuccessful cycles restrain the growth of this market.

Furthermore, the increasing access to Preimplantation Genetic Testing (PGT) for selecting the best embryos is expected to offer growth opportunities for the players operating in the IVF market. However, the limited availability of specialized IVF clinics, especially in rural areas, and the risk of birth defects in babies born through IVF are major challenges in the IVF market. Additionally, elective egg freezing, elective single-embryo transfers, and the integration of AI in IVF treatment are prominent trends in the IVF market.

Key Players

The key players operating in the in vitro fertilization market are Esco Micro Pte. Ltd. (Singapore), Vitrolife Sweden AB (Sweden), Thermo Fisher Scientific Inc. (U.S.), Rocket Medical plc (U.K.), Kitazato Corporation (Japan), CooperSurgical, Inc. (U.S.), FUJIFILM Irvine Scientific. (U.S.), Hamilton Thorne Inc. (U.S.), Carl Zeiss AG (Germany), FERTIPRO NV (Belgium), and The Baker Company (U.S.).

In Vitro Fertilization Market: Future Outlook

The in vitro fertilization market is segmented by Product (Instruments [Imaging Systems, Ovum Aspiration Pumps, Micromanipulator Systems, Gas Analyzers, Incubators, Laser Analyzers, Cryosystems, Sperm Separation Devices, Sperm Analyzer Systems, Sterile Cabinets, and Other Instruments], Reagents & Media [IVM Medium & IVF Media, Sperm Processing Media, Verification Media, Cryopreservation Media, and Staining Kits & QC Beads], and Accessories [Catheters & Cannulas, Needles, Micromanipulation Pipettes, and Other Accessories], Type (Natural IVF, Minimal Stimulation IVF, In Vitro Maturation, Intracytoplasmic Sperm Injection, and Other Types), Cycle (Frozen Non-donor IVF Cycles, Fresh Non-donor IVF Cycles, Fresh Donor IVF Cycles, and Frozen Donor IVF Cycles), Application (Human Reproduction and Research & Reproductive Toxicology), and End User (Hospitals, Fertility Clinics, Research Institutes, and Cryobanks), and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Among all the products studied in this report, in 2024, the instruments segment is expected to account for the largest share of 62.9% of the in vitro fertilization market. The instruments segment is further categorized into imaging systems, ovum aspiration pumps, micromanipulator systems, gas analyzers, incubators, laser analyzers, cryosystems, sperm separation devices, sperm analyzer systems, sterile cabinets, and other instruments. The segment’s large share is attributed to increasing IVF procedures, the rising demand for more sophisticated IVF instruments such as incubators, workstations, micromanipulators, and lasers, and the rising demand for intended and engineered instruments to provide the correct biophysical and biochemical settings for all steps in the IVF process.

Among all the applications studied in this report, in 2024, the human reproduction segment is expected to account for the major share of 82.1% of the in vitro fertilization market. The segment’s large share is attributed to the increasing demand for IVF due to increasing pregnancy success rates through IVF, rising healthcare expenditures, the increasing demand for IVF due to changing socio-demographic trends, the availability of modern technologies, and decreasing natural fertility rates. For instance, according to the World Health Organization’s April 2023 Report, 1 in 6 people globally are affected by infertility.

Among all the end users studied in this report, in 2024, the fertility clinics segment is expected to account for the largest share of the in vitro fertilization market. The segment’s large share is attributed to the high adoption of advanced equipment in fertility clinics, the increasing accessibility and penetration of IVF clinics in semi-urban and rural areas, confidentiality of the service availer’s information, and the increasing number of fertility clinics in emerging markets. For instance, there are more than 2,500 fertility clinics in India, and the country runs the second-highest number of IVF treatment cycles after the U.S. (Source: The Economic Times {India}).

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the IVF market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Finland, Austria, Switzerland, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR of 9.4% during the forecast period. The growth of this regional market is driven by the increasing number of people requiring IVF treatment, decreasing fertility rates, rising healthcare expenditures, changing preferences for marriage age and age of starting motherhood, the growing trend of preserving embryos, and increasing penetration of IVF clinics in semi-urban and rural areas. For instance, China has 539 private and public IVF facilities and aims to set up one facility for every 2.3 million people by 2025. (Source: Thomson Reuters Corporation {Canada}).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of product, type, cycle, application, end user, and region/country?
What was the historical market size for in vitro fertilization products globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the in vitro fertilization market?
Who are the major players in the in vitro fertilization market?
What is the competitive landscape like, and who are the market leaders in the in vitro fertilization market?
What are the recent developments in the in vitro fertilization market?
What are the growth strategies adopted by major players in the in vitro fertilization market?
What are the geographic trends, and which are the high-growth regions/countries?

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