In Vitro Fertilization Market Size

In Vitro Fertilization Market Analysis

The In Vitro Fertilization Market size is estimated at USD 26.47 billion in 2024, and is expected to reach USD 38.52 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).

The COVID-19 pandemic has impacted the growth of the studied market owing to the suspension of in vitro fertilization treatments, and this had a profound impact on women undergoing IVF procedures. For instance, according to an published in Reproductive Biomedicine and Society Online, the pandemic has resulted in the large-scale cessation of assisted reproductive technology treatment in Europe owing to the closure of clinics, which resulted in delayed fertility treatment of thousands of patients in the region, especially the United Kingdom. Thus, the disrupted treatment has impacted the growth of the market during the pandemic period. However, with released restrictions and proper sanitization and measurements taken during the treatment procedures, the demand for in-vitro fertilization has increased. Thus, the studied market has witnessed significant growth and is expected to grow over the forecast period.

Factors such as the rising success rate of IVF technology, increasing awareness about IVF procedures, and delayed onset of pregnancy are expected to boost market growth over the forecast period.

Infertility continues to represent an increasing global challenge due to multiple factors such as environment, genetics, age, and comorbidities associated with impaired reproductive function. The rising number of infertile cases has increased the demand for fertility procedures that help couples with difficulties or an inability to conceive children. For instance, according to an article published in Cell in May 2022, it has been observed that male infertility is an increasing and serious medical concern that affects approximately half of infertile couples worldwide. Also, an article published in the International Bar Association in March 2022 showed that fertility rates have consistently declined to below replacement levels across developed countries globally. This is anticipated to fuel the demand for in-vitro fertilization to treat infertility issues, propelling the market growth.

Additionally, there is a growing effort by the government and other organizations to launch several campaigns to educate the public about fertility care, treatment options, and the factors contributing to infertility issues. For instance, in August 2022, Pinnacle Fertility launched the Save IVF campaign to educate on potential new legislation that threatens family-building treatment. Also, in July 2022, Oasis Fertility launched the Infertility Knows No Gender campaign to commemorate World IVF Day. IVF offers a ray of hope to millions of couples struggling with infertility.

Furthermore, the increasing launches of IVF facilities and new technologies across the globe for providing better ART services are also contributing to segment growth. For instance, in August 2022, the Rejuvenating Fertility Center (RFC) launched Injection-Free IVF or Needle-Free IVF procedures. This non-conventional holistic treatment uses oral and nasal fertility drugs to stimulate the patient's ovaries during in vitro fertilization (IVF). This gently stimulates the ovaries to produce multiple higher-quality eggs. Such developments are expected to increase the demand for needleless IVF treatment.

Therefore, owing to the factors above, such as the high burden of infertility, increasing IVF awareness campaigns, and the growing number of IVF facilities and products, the studied market is anticipated to grow over the forecast period. However, the complications associated with in-vitro fertilization, social stigma, and ethical and legal issues associated with in-vitro fertilization are likely to hinder the market's growth over the forecast period.