IVF Devices and Consumables Market Share, Size, Future Demand, and...

IVF Devices and Consumables Market Share, Size, Future Demand, and Emerging Trends

Postado 2023-07-17 07:12:13

Due to the rising incidence of delayed pregnancies in women, the increasing global infertility rates, rapid technological advancements, the surging gamete donations, and the soaring disposable income, the global in vitro fertilization (IVF) devices and consumables market is predicted to demonstrate huge expansion in the coming years. According to the observations of P&S Intelligence, a market research company based in India, in emerging economies, one out of every four couples are affected by the increasing infertility rates.

As per the Statistics published by the World Bank, the total fertility rate across the world has reduced from 4.7 in 1970 to around 2.4 in 2015. This is because of the changing lifestyle habits of people and the growing prevalence of various diseases such as certain fertility-related diseases and sexually transmitted diseases (STDs) throughout the world. For example, smoking causes a 50% reduction in the chances of pregnancy in women.

Furthermore, the growing popularity of fertility tourism is providing lucrative growth opportunities to the players operating in the IVF devices and consumables market. Depending on product, the market is divided into instruments, accessories and disposables, and reagents and media. Out of these, the instruments category is predicted to exhibit the fastest growth in the market in the future years. This will be because of the growing requirement for easy-to-use equipment and time-efficient procedures and rapid technological advancements around the world.

Get More Insights: IVF Devices and Consumables Market Revenue Estimation and Growth Forecast Report

In the coming years, the market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region. This will be a result of the low production costs of the IVF devices and the ballooning demand for IVF procedures, on account of the rapidly growing fertility tourism industry in the region. Additionally, the surging healthcare awareness among the masses and the availability of a highly-skilled workforce will boost the market advancement in the region in the upcoming years.

Thus, it is safe to say that the market will record huge expansion across the world in the future years, mainly because of the increasing prevalence of delayed pregnancies and the rising infertility rates among women all over the world.