The Infertility Devices Market is estimated to be valued at US$ 10,129.9 Mn or billion in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Infertility devices are used for infertility treatment and assistive reproductive technologies. These include products such as sperm separation devices, embryo culture media, ICSI instruments, ART disposables, and cryosystems. These devices help physicians during procedures such as in-vitro fertilization (IVF), intra-cytoplasmic sperm injection (ICSI), and intracytoplasmic morphologically selected sperm injection (IMSI).
Market Dynamics:
The major drivers fueling the growth of infertility devices market are increasing prevalence of infertility and rise in awareness about infertility treatment options. According to the data published by the World Health Organization, infertility affects around 48.5 million couples worldwide. Advanced maternal age, obesity, sexually transmitted diseases, and other lifestyle factors are leading to increased infertility rates. Lifestyle changes and delayed pregnancies among women are contributing to the growth of this market. Additionally, rapid technological advancements in infertility treatment devices and emergence of gamete donor programs and embryo donation are also fueling the market growth. Some of the new technologies adopted include time-lapse incubation, which allows real-time monitoring of embryo development without disturbing the culture conditions.
Segment Analysis
The infertility devices market is dominated by the in-vitro fertilization (IVF) segment owing to rising number of IVF procedures and success rate of IVF in overcoming infertility issues. IVF is used when other fertility treatments do not work or when causes of infertility can be bypassed. The IVF process involves hormonally controlling a woman's menstrual cycle, removing eggs from the ovaries and letting sperm fertilize them in a lab. One or more fertilized eggs may then be transferred to the uterus.
PEST Analysis
Political: Regulations favoring IVF coverage and increasing healthcare expenditure are expected to drive the infertility devices market.
Economic: Rising disposable income and growing medical tourism in developing countries provide growth opportunities.
Social: Social acceptability of IVF and infertility treatment is increasing which is prompting greater demand.
Technological: Development of time-lapse microscopy systems for embryo selection, artificial intelligence applications, and genetic testing are key technological advances fueling market growth.
Key Takeaways
Global Infertility Devices Market Demand is expected to reach US$ 15,256.3 Mn by 2030, expanding at a CAGR of 8.7% during the forecast period. The increasing prevalence of infertility due to rise in risk factors such as obesity, stress, sexually transmitted infections and delayed pregnancies is driving the market.
North America dominates the infertility devices market owing to high consumer awareness, supportive regulatory framework, and established healthcare infrastructure. Additionally, the region is characterized by the presence of major market players, high adoption of advanced infertility treatment devices, and rising health expenditure.
Key players operating in the infertility devices market are Carl Zeiss Meditec AG, Thermo Fisher Scientific Inc., Vitrolife AB, The Baker Company, Inc., The Cooper Companies, Inc., Fujifilm Irvine Scientific, IVFTECH APS, Kitazato Corporation, MedGyn Products, Inc., Rocket Medical plc, SOMATEX Medical Technologies GmbH, Cook Group Incorporated, Esco Micro Pte Ltd, Hamilton Thorne, Ltd, and Art Biotech Pvt. LTD
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