In Vitro Fertilization Services Industry to be Boosted by Innovative Technologies
The global IVF services market is expected to reach $43.97 billion by 2027, growing at a CAGR of 20.46%
SAN ANTONIO, December 26, 2022 /PRNewswire/ — In vitro fertilization (IVF), one type of assisted reproductive technology (ART), is becoming increasingly popular due to an increase in infertility rates worldwide, according to Frost & Sullivan’s recent analysis on the global in vitro fertilization services market . Fertilizing the egg outside the body is the process of IVF, which is the most common and effective form of ART and contributes more than 95% of total ART revenue. The practice of freezing eggs, sperm and embryos for IVF is gaining popularity, which has greatly increased the demand for IVF services. The global market for IVF services is expected to grow significantly, with a compound annual growth rate (CAGR) of 20.46%, from $17.37 billion in 2022 $43.97 billion in 2027.
In vitro fertilization
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“Implementation of artificial intelligence (AI) and other advanced technologies, such as pre-implantation genetic testing (PGT) and mild ovarian stimulation, are revolutionizing IVF services,” said Suchismita DasHealthcare Research Analyst at Frost & Sullivan. “Furthermore, these innovative technologies are credited with increasing the success rate of IVF, leading to increased adoption of fertility services.”
Das added, “IVF tourism, as part of medical tourism, is currently a Mega Trend boost the growth of IVF services. Asian Pacific Ocean countries, such as In the and Singaporeand European nations, such as Spain and Polandemerge as the most preferred destinations for IVF treatment to accelerate the IVF services sector’s growth.”
To reap the benefits of the IVF services industry, IVF market participants must:
- Partner with IVF technology providers to implement the latest technologies that empower the embryologist with better decision support capabilities.
- Collaborate with oncology care providers to offer cancer-specific IVF services to patients and counsel them about fertility preservation if they choose that option.
- Join insurance providers to include fertility treatments in health insurance plans as the number of infertility cases is increasing alarmingly In the, Chinaand Japan.
Global Growth Opportunities for In Vitro Fertilization Services is the newest addition to Frost & Sullivan’s Healthcare research and analytics available through the Frost & Sullivan Leadership Council, helping organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Growth Opportunities for In Vitro Fertilization Services
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