Global In Vitro Fertilization Market to Reach $21.6 Billion by 2020 - Allied Market Research
Portland, Oregon (PRWEB UK) 26 May 2014 -- Allied Market Research today published a new market research report titled "In Vitro Fertilization (IVF) Market - Size, Share, Trends, Opportunities, Global Demand, Insights, Analysis, Research, Report, Company Profiles, Segmentation and Forecast, 2013 - 2020." As per the study, the global IVF market is expected to grow at a CAGR of 11.6% between 2013 and 2020. The market revenue of $9.3 billion in 2012 is estimated to grow up to $21.6 billion by 2020. Rising rate of infertility is the key factor driving the growth of the IVF market. In addition, rising awareness has led to increase in egg donation. For instance, in the U.S., the number of egg donation cycles has increased from 11,000 in the year 2000 to 18000 in 2010.
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Medical tourism is providing an excellent opportunity for the growth of this market. The cost of IVF in New York is approximately around $10,000- $15,000 and the same costs up to $6000 in Thailand. Developing economies are emerging to be the most preferred destination for IVF treatments with increasing focus on advanced technologies, improving health care infrastructure and favourable health care cost. Globally, around 30 countries have some form of Assisted Reproductive Techniques (ART) with certain limitations. Few countries such as Israel, Belgium and France offer comprehensive reimbursement schemes.
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Intra cytoplasmic sperm injection (ICSI) as a technique is promising significant opportunities. "ICSI has been successfully performed even in complex situations where there are multiple factors responsible for infertility among both male or/and female patients. Moreover, this has been best suitable for those who have had repeated failure through conventional IVF procedure," quote Debbie Shields and Rohini Patil.
However, major restraint in the IVF market is the cost factor. The total cost of the treatment depends on the number of cycles, cost of the procedure, drugs and hormones. The average cost of the IVF treatment is about $10,000- $20,000. Europe is expected to generate revenue of $8 billion by 2020 growing at a CAGR of 10.2%% during 2013 to 2020. However, Asia-Pacific is a high-opportunity market that is expected to grow at a CAGR of 17.1% from 2013 to 2020.
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