In Vitro Fertilization Market Size, Share, Forecast, & Trends Analysis by Type (Natural, Intracytoplasmic, Minimal), Product (Imaging, Cryosystems, IVF Cabinets, Incubator, Media, Sperm Analyzer), Cycle, Application, End User - Global Forecast to 2031

In Vitro Fertilization Market Size & Forecast

The In Vitro Fertilization Market is projected to reach $4.20 billion by 2031 at a CAGR of 7.1% from 2024 to 2031. In Vitro Fertilization (IVF) is a form of assisted reproductive technology. The growth of the IVF market is primarily driven by increasing infertility rates, technological advancements in IVF procedures, the high success rates of pregnancy through IVF, changing socio-cultural norms, favorable government regulations & policies, and the reducing costs of IVF. Furthermore, the increasing access to Preimplantation Genetic Testing (PGT) for selecting the best embryos is expected to offer growth opportunities for the players operating in the IVF market.

In Vitro Fertilization Market Growth Drivers

Increasing Infertility Rates

According to the Centers for Disease Control and Prevention (CDC) (U.S.), infertility rates have increased significantly in recent years. For instance, in 2022, approximately 9% of men and 11% of women of childbearing age in the U.S. had infertility. Also, according to the World Health Organization (WHO), nearly 60 to 80 million couples globally had infertility in 2022. Lifestyle factors such as smoking, alcohol use, weight fluctuations, and high stress and environmental factors such as exposure to toxins like pesticides and mercury affect fertility in both men and women. Thus, the increasing cases of infertility are driving the demand for IVF.

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Technological Advancements in IVF Procedures

In vitro fertilization is becoming an increasingly effective option for couples struggling with infertility. Technological advancements and ongoing research and innovation in the field of reproductive medicine have propelled the demand for IVF. For instance, ovarian tissue cryopreservation is an option for women undergoing cancer treatments who may have compromised fertility. Ovarian tissue cryopreservation allows women to preserve and freeze their ovarian tissue containing viable eggs before undergoing chemotherapy. These tissues can be re-implanted post-treatment. Owing to the increasing demand for ovarian tissue cryopreservation, in January 2022, Guy's and St Thomas' NHS Foundation Trust (U.K.) launched an ovarian tissue cryopreservation service for women undergoing cancer treatment. Being one of the first in the U.K., the service offers patients all currently available methods for fertility preservation. As research and technology continue to evolve, the chances of success in IVF are steadily improving, which is further driving the growth of the IVF market.

In Vitro Fertilization Market Trends

Elective Single-embryo Transfers

Multiple embryo transfers increase the overall success rate of the IVF process. However, they also increase complications such as health risks for the mother and increased chances of C-section delivery, twins or multiple births, and premature birth. Single-embryo transfers are opted to overcome such complications and reduce multiple pregnancies. Advancements in embryo selection, genetic screening, and culture media have enabled the accurate transfer of single embryos, reducing the risks associated with multiple pregnancies and maintaining high IVF success rates. Furthermore, single-embryo transfers have also minimized the complications related to the low birth weight of the child and reduced adverse health outcomes. Such advantages offered by elective single-embryo transfers are driving the growth of this market.

Elective Egg Freezing

In recent years, the egg-freezing technique has resulted in more effective and accurate IVF processes due to technological advancements such as vitrification, which is a rapid freezing process that enables hydrated living cells to be cooled to cryogenic temperatures in the absence of ice and offers high survival rates and improved egg quality. As the quality and quantity of women's eggs decreases with advanced maternal age, women in developed countries are choosing elective egg freezing as a viable option. Furthermore, several countries are enacting new laws to support elective egg freezing. For instance, in December 2019, the United Arab Emirates (UAE) introduced a new law for IVF. The law defines favorable changes related to the freezing of human embryos as well as unfertilized eggs and sperm for a period of 5 years or more, depending on request. According to this law, samples of frozen fertilized or unfertilized eggs or sperm prepared in the UAE can be taken abroad. Also, samples prepared abroad can be brought into the UAE. Such favorable government initiatives are expected to drive the IVF market.

In Vitro Fertilization Market Opportunities

Increasing Access to Preimplantation Genetic Testing (PGT) for Selecting the Best Embryos

Preimplantation Genetic Testing (PGT) is a procedure for identifying genetic abnormalities in embryos created for the IVF process. Abnormal embryo genes are one of the common reasons for failure of pregnancy through IVF. PGT ensures that embryos with the correct number of chromosomes are used, reducing the chances of failure. Preimplantation genetic testing is also carried out for monogenic disorders, structural chromosomal abnormalities, whole chromosome aneuploidy, and other disorders for increasing live birth rates and decreasing overall pregnancy failure rates. Although preimplantation genetic testing cannot identify all genetic abnormalities, prenatal genetic screening can also be done. For instance, according to a report published by the National Library of Medicine (U.S.), nearly 75% of fertility clinics offer preimplantation genetic diagnosis, and approximately 4–6% of IVF procedures utilize preimplantation genetic testing annually in the U.S. Thus, increasing access to PGT is expected to create significant opportunities for the players operating in the IVF market.

In Vitro Fertilization Market Analysis: Key Findings

By Product: The Instruments Segment to Dominate the In Vitro Fertilization Market in 2024

Based on product, the in vitro fertilization market is segmented into instruments, reagents & media, and accessories. In 2024, the instruments segment is expected to account for the largest share of 62.9% of the IVF market. The instruments segment is further categorized into incubators, gas analyzers, imaging systems, laser analyzers, cryosystems, sperm separation devices, sterile cabinets, ovum aspiration pumps, micromanipulator systems, sperm analyzer systems, and other instruments. The large share of this segment is attributed to the increasing demand for innovative equipment such as time-lapse incubators, as these incubators enable monitoring of IVF procedures and assist in the classification of healthy embryos with the highest probability of implantation to achieve higher fertility rates, the rising demand for advanced instruments, the increasing number of fertility clinics, and the rising demand for advanced technologies for IVF procedures.

By Type: The Intracytoplasmic Sperm Injection Segment to Dominate the In Vitro Fertilization Market in 2024

Based on type, the in vitro fertilization market is segmented into natural IVF, minimal stimulation IVF, in vitro maturation, intracytoplasmic sperm injection, and other types. In 2024, the intracytoplasmic sperm injection segment is expected to account for the largest share of the in vitro fertilization market. The large share of this segment is attributed to the advantages of intracytoplasmic sperm injection, such as direct injection of a single sperm into the egg, its use in severe cases of male-factor infertility, and improved egg fertilization.

By Application: The Human Reproduction Segment to Dominate the In Vitro Fertilization Market in 2024

Based on application, the in vitro fertilization market is segmented into human reproduction and research & reproductive toxicology. In 2024, the human reproduction segment is expected to account for the larger share of 82.1% of the IVF market. The large share of this segment is attributed to rising infertility rates and the increasing number of women with advanced maternal age. Furthermore, increasing alcohol & tobacco consumption, smoking, and rising cases of obesity are the leading causes of infertility. According to the World Health Organization’s (WHO) March 2024 report, in 2022, 1 in 8 people were living with obesity, and in 2022, 2.5 billion adults were overweight. This has increased infertility rates due to factors such as women’s anovulation, failure to produce eggs, and hormonal changes. These factors are driving the use of IVF for human reproduction applications.

By End User: The Fertility Clinics Segment to Dominate the In Vitro Fertilization Market in 2024

Based on end user, the IVF market is segmented into hospitals, fertility clinics, research institutes, and cryobanks. In 2024, the fertility clinics segment is expected to account for the largest share of the in vitro fertilization market. The large share of this segment is attributed to the increased adoption of advanced techniques in fertility clinics for the treatment of infertility. Additionally, fertility clinics have specialized expertise and also offer a comprehensive range of services beyond IVF, including counseling and egg freezing. The rising demand for IVF treatments and the increasing number of IVF clinics worldwide are further supporting the segment’s large share. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion, Division of Reproductive Health (U.S.), there are approximately 500 fertility clinics in the U.S.

Geographic Analysis

In 2024, North America is expected to account for the largest share of 42.0% of the in vitro fertilization market. North America's significant market share is attributed to the high infertility rates in the region and the increasing incidence of polycystic ovary syndrome. According to the Centers for Disease Control and Prevention (U.S.), 6% to 12% of women of reproductive age in the U.S. are affected by polycystic ovary syndrome (PCOS), which is among the most common causes of infertility among women. Furthermore, the presence of key players, advanced healthcare infrastructure, and favorable government policies are further supporting North America’s large market share.

However, Asia-Pacific is slated to register the highest growth rate of 9.4% during the forecast period. APAC countries, such as China and India, are projected to offer significant growth opportunities for the vendors in this market. The rising infertility rates, technological advancements in IVF, and the growing adoption of IVF treatments are contributing to the growth of this regional market. For instance, according to an article published by Pacific Prime China in October 2023, China is witnessing a drop in birth rates and growth in the aging population. To overcome this, the Government of China ended its ‘one child’ policy in 2016. Additionally, there are 539 approved medical institutions and 27 sperm banks in the country. The Chinese government is developing favorable policies to increase the number of IVF clinics in the country. These factors contribute to the high growth of the IVF market in APAC.

In Vitro Fertilization Market: Key Companies

The report provides a competitive landscape based on an extensive assessment of the leading market players’ offerings, geographic presence, and the key growth strategies adopted by them over the past few years (2020–2024). The key players operating in the in vitro fertilization market are Esco Micro Pte. Ltd. (Singapore), Vitrolife Sweden AB (Sweden), Thermo Fisher Scientific Inc. (U.S.), Rocket Medical plc (U.K.), Kitazato Corporation (Japan), CooperSurgical, Inc. (U.S.), FUJIFILM Irvine Scientific. (U.S.), Hamilton Thorne Inc. (U.S.), Carl Zeiss AG (Germany), FERTIPRO NV (Belgium), and The Baker Company (U.S.).

In Vitro Fertilization Industry Overview: Latest Developments from Key Industry Players

• In May 2024, Birla Fertility & IVF, a part of CK Birla Group and CK Birla Healthcare Pvt. Ltd. (India), acquired the ARMC IVF Fertility Centre (India) to expand its services in Southern India.

• In June 2023, Baring PE Asia EQT, Blackstone, Bain Capital, Advent International, and TPG Capital submitted bids to acquire Indira IVF, one of India’s largest fertility clinic chains. Indira IVF performed approximately 40,000 IVF procedures in 2022.

• In August 2023, Trajan Scientific Australia Pty Ltd. (Australia) signed an agreement to provide CE-IVD registered Mitra devices to Fertilly GmbH (Germany) to enable Europe’s first At-Home Fertility tests that used dried blood microsampling with VAMS technology.
• In June 2022, FUJIFILM Irvine Scientific, Inc. (U.S.) acquired a license to intellectual property rights relating to Artificial Intelligence (AI) for image-based evaluation of human embryos to improve IVF success rates.

In Vitro Fertilization Market Research Summary

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