Market Research Future (MRFR) analysed the global market for in-vitro fertilization (IVF) device 2020 across the review period till 2023. By 2023, the in-vitro fertilization (IVF) device market can surge at 10.50% CAGR. By end of the analysis period, the in-vitro fertilization (IVF) device market value can touch above USD 12,700 Mn.
The rapid growing popularity of IVF and increase in its demand as assistive reproductive technology can support expansion of the market in the near future. Recently, IVF is expected to gain high traction to resolve increase in issues considering conceiving and natural impregnation. The high success rate of IVF can provide momentum to the market. In addition, the rise in cases of genetic abnormalities and cases of miscarriage are observed to result in increasing demand for IVF procedures that can also favor the market. The rising acceptance of surrogacy can aid the IVF industry to surge in the near future.
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The segment study for the global in-vitro fertilization device market are done by end-user, type, and product.
The type-based segments of the global in-vitro fertilization market are intrauterine insemination, intracytoplasmic sperm injection, in-vitro fertilization, and IVF using donor eggs. The intrauterine insemination (IUI) segment can offer lucrative growth scopes in the approaching years. The expansion of global IVF device market is likely at substantial CAGR. The intracytoplasmic segment can surge at high pace and intrauterine insemination segment can secure the largest market share in the assessment period.
The product-based segments of the in-vitro fertilization market are device and regent. The sub-segments of the device segment are ovum, imaging systems, sperm separation system, aspiration pump, micromanipulator, and cerosystem.
The sub-segments of the reagents segment are sperm processing media, cryopreservation media, ovum processing media, and embryo culture media. The device segment can outperform the regents segment in the near future. The device segment market valuation can exceed USD 3,700 Mn at decent CAGR across the analysis period.
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The end-user-based segments of the in-vitro fertilization market are hospitals and clinical research center, and fertility clinics. The fertility clinics segment can secure the highest share of the overall market. The hospital segment can rise at 12.92% CAGR in the assessment period.
Regional assessment of the market for in-vitro fertilization device reveals that North America can witness rapid expansion with considerable CAGR in the assessment period. Europe, South America, and the Middle East & Africa (MEA) are other regions that are studied for the market in the analysis period. Europe can win decent revenue portion of the market in the near future. The emergence of innovative IVF device can rise considerably as it is expected to secure about 40% share of the worldwide global IVF device market.
The expansion of the in-vitro fertilization can in APAC can be credited to the rise in government funding for research and development associated with Assisted Reproductive Technology (ART). The rise in need to boost fertility rate across Europe region, such as Germany, France, and the UK can favor the market rise. Meanwhile, South America and North America can secure the second largest share of the overall market for IVF. The easy Availability of advance type of IVF technologies can acts as positive share for the market in the near future.
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GENEA BIOMEDIX, INVO Bioscience, Genea Limited, Oxford Gene Technology, Irvine Scientific, Vitrolife, Merck KGaA, Cooper Surgical Fertility, Cook Medical, and Thermo Fisher Scientific are some major players in the in-vitro fertilization market that are listed by MRFR.
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