Global IVF devices and consumables market is forecasted to attain a size of $5.0 billion by 2023, according to P&S Market Research
Some of the prominent factors driving the growth of the market are rise in the infertility rates, growing success of the IVF procedure, surge in the availability of technologically advanced products and a global rise in fertility tourism.
Insights on market segments
The IVF devices and consumables market has been categorized as accessories and disposables, reagents and media, and instruments, on the basis of product. Accessories and disposables held the largest share in the market in 2016 and is anticipated to generate revenue of $2.8 billion by 2023, registering a CAGR of 15.8% during 2017-2023.
Among the different end users in the market, surgical centres are expected to witness fastest growth in demand, growing at a CAGR of 24.3% during the period 2017-2023.
This growth in demand for IVF procedures in surgical centres is mainly due to the fact that these centres provide facilities for surgical sperm retrieval and fertility enhancing surgeries such as tubal surgery, tubal reversal surgery, adhesiolysis and various other techniques that can eventually lead to conception.
Access Report Summary with Detailed TOC on "IVF Devices and Consumables Market by Product (Accessories and Disposables, Reagents and Media [Cryopreservation, Embryo Culture, Ovum Processing, Semen Processing], Instruments [Cabinets, Micromanipulator, Imaging System, Ovum Aspiration Pump, Sperm Separation System, Incubators, Cryosystem]), by Technique (Fresh Embryo IVF, Frozen Embryo IVF, Donor Egg IVF), by End User (Fertility Clinics, Hospitals, Surgical Centers, Clinical Research Institutes), by Geography (Germany, U.K., France, U.S., Canada, Mexico, India, China, Japan, Australia, Brazil, Saudi Arabia) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2016-2023" at: https://www.psmarketresearch.com/market-analysis/ivf-devices-and-consumables-market
Asia-Pacific (APAC) is the fastest growing market for IVF devices and consumables
The APAC IVF devices and consumables market is expected to witness the fastest growth in demand, at a CAGR of 21.4% during the forecast period. The growth in the APAC market is mainly supplemented by low manufacturing cost of IVF devices and increasing adoption of IVF procedures owing to rising fertility tourism in the region.
Additionally, rising healthcare awareness and availability of skilled workforce are the key factors that are likely to provide stellar growth opportunities for the market players to expand in APAC.
Key Players focus on product launches and collaborations to gain a larger market share
Globally, key players in the IVF devices and consumables industry are developing and launching products that are equipped with latest advanced technology to fulfill the market demands. For instance, in September 2016, ORIGIO, a subsidiary of Cooper Surgical, became the official distributor of Research Instruments in Russia. The distribution included products such as Integra 3 micromanipulators, Saturn laser, IVF Witness system, and other RI products.
Some of the other key players operating in the IVF devices and consumables market include Cook Medical, Inc., Genea Biomedx, JXTG Holdings, Inc., Merck KGAA, Ovascience, Inc., Oxford Gene Technology, Progyny, Inc., Thermo Fisher Scientific, Inc., and Vitrolife AB.
GLOBAL IVF DEVICES AND CONSUMABLES MARKET SEGMENTATION
Market Segmentation by Product
Market Segmentation by Technique
Market Segmentation by End User
Market Segmentation by Geography