Market Size of Infertility Treatment Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.43 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Infertility Treatment Devices Market Analysis
The infertility treatment devices market is poised to grow at a CAGR of 5.43 % during the forecast period.
COVID had a significant impact on the studied market. Various studies and articles have been published on the impact of COVID on in vitro fertilization (IVF). For instance, according to a research report published by PubMed Central in February 2021, SARS-CoV-2 is alleged to interfere with ART operations and disrupt female fertility via controlling ACE2. Consequently, it was anticipated that the pandemic would have an impact on market growth; however, with the decline in COVID-19 cases and widespread vaccination, it is anticipated that the studied market will once again reach its full potential over the forecast period.
The major factors attributing to the growth of the infertility treatment devices market are significant changes in lifestyle which contributed to the rise in infertility and the prevalence of conditions such as Polycystic Ovary Syndrome (PCOS). Also, a constant increase in the incidence of infertility in both sexes is projected to drive the market.
For instance, according to the data published by PubMed Central in June 2022, it was reported that South Korea showed the greatest decline in the fertility rate among the entire OECD countries over the last 30 years. The article also stated that the Korean government recognized the importance of healthy pregnancy and childbirth under these circumstances and implemented policies to raise the low fertility rate and support childbirth at advanced maternal by implementing 'The Fourth Basic Plan on Low Fertility and Aging Society' in 2021. Hence, a low fertility rate would increase the demand for in vitro fertilization and will increase market growth.
Furthermore, various development by market players and research institutes around the world are also contributing to the growth of the market. For instance, in March 2022, a few researchers from the Florida Atlantic University's College of Engineering and Computer Science developed a microfluidic chip-based device for sperm sorting that is fast, inexpensive, easy to operate, and efficiently isolates healthy sperm directly from semen. It effortlessly collects sorted sperm cells from the collecting chamber while minimizing contamination by deformed or dead sperm cells.
Thus, the abovementioned factors such as various development by market players and research institutes and low fertility rate are expected to increase market growth. However, the lack of availability to people due to the higher cost of IVF procedures and the possible risk of the baby being born with birth defects, risks of infections, and unfavorable scarring are expected to hinder the market growth.
