IVF Devices and Consumables Market to Reach $12.0 Billion, Globally, by 2032 at 18.4% CAGR: Allied Market Research

Increase in infertility rates, delayed pregnancies among women, and technological advancements in IVF devices drive the growth of the global IVF devices and consumables market. 

PORTLAND, Ore., Feb. 26, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "IVF Devices and Consumables Market Size, Share by Product (Instruments, Accessories & Disposables, and Reagents & Media), Technology (Fresh Embryo IVF, Frozen Embryo IVF, and Donor Egg IVF), and End User, (Fertility Clinics, Hospitals, Surgical Centers, and Clinical Research Institutes): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global IVF devices and consumables industry generated $2.2 billion in 2022, and is anticipated to generate $12.0 billion by 2032, registering a CAGR of 18.4% from 2023 to 2032.  

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Prime determinants of growth 

Rise in rates of infertility, trend of delayed pregnancies among women, and technological advancements in IVF devices act as the key driving forces of the global IVF devices and consumables market. However, high cost associated with IVF treatment restricts the market growth. On the contrary, growth opportunities in emerging markets, rise in number of fertility clinics, and expansion of fertility tourism presents are expected to open new avenues for the expansion of the market in the coming years. 

Report coverage & details: 

Recession Impact 

• During a recession, individuals and governments tighten their budgets, leading to reduced healthcare spending. This could affect patients' ability to access and afford IVF devices and consumables, potentially leading to decreased demand for IVF products. In addition, economic downturns often lead to reduced healthcare budgets, impacting the purchasing power of healthcare facilities. This results in delayed or scaled-down investments in expensive IVF devices and consumables.
• However, delayed childbearing, increase in acceptance of assisted reproductive technologies, advancements in IVF technology, and increase in awareness of fertility issues are expected to boost the need for specific types of IVF devices and consumables. 

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The accessories & disposables segment to maintain its leadership status throughout the forecast period 

Depending on product, the accessories & disposables segment acquired the largest market share in 2022, accounting for more than half of the market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to advantages associated with IVF accessories & disposables such as easy handling and high cost effeciency. 

However, the instruments segment is expected to register the highest CAGR of 19.0% during the forecast period. This is attributed to technological advancements; complexity of fertility treatments, which necessitate the use of advanced instruments, such as advanced incubators and time-lapse imaging devices, and emphasis on infertility diagnosis and treatment. 

The fresh embryo IVF segment to maintain its leadership status throughout the forecast period 

On the basis of technology, the fresh embryo segment was the major shareholder in 2022, accounting for around two-thirds of the global IVF devices and consumables market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the advantages of fresh embryo IVF such as higher success rate, convenience, cost-effectiveness, and enhanced safety. 

However, the frozen embryo IVF segment is expected to register the highest CAGR of 18.9% during the forecast period. This is attributed to the advantages associated with frozen embryo IVF such as flexibility, high success rates, and technological advancements, making it a preferred choice for couples undergoing fertility treatment. 

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The fertility clinics segment to maintain its lead position during the forecast period 

By end user, the fertility clinics segment accounted for the largest share in 2022, contributing to around two-thirds of the global IVF devices and consumables market revenue, and is estimated to register the highest CAGR of 18.7% during the forecast period. This is attributed to the increasing prevalence of infertility issues and availability of advanced healthcare professionals in fertility clinics along with high success rate. 

Asia-Pacific to maintain its dominance by 2032 

Region wise, Asia-Pacific held the largest market share in terms of revenue in 2022, accounting for two-fifths of the global IVF devices and consumables market revenue and is likely to dominate the market during the forecast period. This is attributed to surge in prevalence of infertility issues, rise in number of fertility clinics, increase in awareness about fertility treatments, and rise in government policies and initiatives aimed at addressing reproductive health concerns. 

Leading Market Players

• Cook Group
• Cooper Companies Inc.
• Genea Limited
• Fujifilm Holdings Corporation
• Hamilton Thorne Ltd.
• Kitazato Corporation
• Nidacon International AB
• Vitrolife AB
• Esco Micro Pte. Ltd.
• Thermo Fisher Scientific Inc.

The report provides a detailed analysis of these key players in the global IVF devices and consumables market. These players have adopted strategies such as product launch, expansion, agreement, acquisition, and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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