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(Medical-NewsWire.com, April 18, 2018 ) Publisher’s market research report predicts that the global in-vitro fertilization (IVF) devices market will grow at a CAGR of above 10% during the forecast period. One of the primary drivers for the market’s growth is the increase in prevalence of infertility. It has been observed that infertility affects one in six couples. According to the Centers for Disease Control and Prevention (CDC), there are about six million women suffering from infertility issues in the US. The National Health Service (NHS) has also observed that there are more than three million women suffering from infertility in the UK. Lack of regular ovulation, blockage of fallopian tubes and endometriosis are perceived as the known causes for infertility. Furthermore, changes in lifestyles, rise in consumption of alcohol, and improper food habits are also identified to be the causes for the occurrence of infertility in countries such as India, Canada, and Japan. Additionally, male infertility, that is becoming a common cause of concern across the globe, will also fuel the demand for IVF devices.
One of the latest trends that will gain traction in the global IVF devices market is the insurance coverage for IVF. These insurance coverages for IVF procedures depends on factors like women’s age, IVF cycles, and the annual income of the couple. States like Massachusetts, Maryland, New Jersey, New York, and Connecticut offer insurance coverage for IVF treatment in the US. In India, the Bhartiya Mahila Bank and New India Assurance joined hands to offer an insurance plan for infertility treatments irrespective of the financial status of the individual. Such policies will attract more couples facing infertility issues to select IVF, which will in turn, boost the growth of the IVF devices market.
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Competitive landscape and key vendors
Due to the presence of many vendors, the global market for IVF devices is largely competitive. The increasing number of infertility centres in the developing countries like India and Thailand and the growing number of IVF procedures across the globe, will fuel the demand for IVF instruments. To increase their foothold in the market, vendors are following M&A activities to enhance their product lines and are also focusing on various distribution channels such as direct sales, distributors, and supply chain networks to improve their revenue shares.
Key vendors in the market are:
Cook Medical
CooperSurgical
Thermo Fisher Scientific
Vitrolife
OvaScience
Other prominent players in the market include CellCura, EMD Serono, Esco Micro, Hamilton Thorne, Intermedics, LabIVF Asia, LAF Technologies, Lotus Bio, Progyny, and Rocket Medical.
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Segmentation by type and analysis of the IVF Devices market
Instruments
Culture media and reagents
During 2016, the culture media and reagents segment accounted for the major shares and dominated the IVF devices market. The increased utilization of supplements such as albumin, nutrient supplements such as amino acids, carbohydrates, and antibiotics such as penicillin and streptomycin in IVF procedures will be the major factor driving the growth of this market segment.
Geographical segmentation and analysis of the IVF devices market
Americas
APAC
EMEA
In terms of geography, EMEA recorded the highest adoption rate of IVF devices in 2016. Factors such as financial access for IVF treatment, the availability of technologically advanced IVF procedures in hospitals and other medical institutions, and the presence of highly skilled medical professionals, will propel market growth in this region.
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