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In-Vitro Fertilization – A Boon for Childless Couples

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Over the last few decades, assisted reproductive technologies (ARTs) have proven to be a blessing to numerous childless couples in various ways by providing them a chance of experiencing parenthood. Since the birth of the first test tube baby in 1978, more than three million babies have been born with the help of ART. Besides, both infertility in women and impotency in men are tackled by these technologies. ART procedures include vitro fertilization (IVF), gamete intrafallopian transfer (GIFT), and zygote intrafallopian transfer (ZIFT), among others.

The recent report published by BIS Research focuses on one of the most widely adopted ART − in-vitro fertilization (IVF). IVF, a multi-step procedure, combines sperms and ovum of humans in suitable laboratory conditions. Post fertilization, the fertilized egg, or zygote, is cultured in a growth medium for the required time and then is transferred back into the mother’s uterus for the development of an embryo.

Despite a lower success rate of the procedure, IVF is being widely adopted across the world.  Moreover, a significant number of developments taking place in the healthcare industry, precisely in clinical medicine and basic science, has contributed in enhancing the efficiency of the procedure.

The published report titled “Asia-Pacific In-Vitro Fertilization Market – Analysis and Forecast (2019-2029)” analyzes the growth and adoption of IVF across the Asia-Pacific region and provides key insights about the trends and opportunities that are expected to dominate the market in the next ten years. The report is focused majorly on the APAC region, owing to an alarming decline in fertility rates in the region driven by changing lifestyle, delaying pregnancy, and growing cases of fertility problems among both the genders.

Thus, the aforementioned factors are propelling the adoption of IVF in the APAC region and further contributing to the growth of the IVF market. According to the published report, the APAC IVF market is projected to grow at a CAGR of 10.13% during the forecast period, 2019-2029 and generate revenue worth $19.35 billion in 2029.

In addition, the IVF market has garnered the attention of a number of governments of several countries in the APAC region. Therefore, several funding schemes and favorable regulations have been introduced by the governments in an attempt to encourage the practice of fertility treatments. Identifying the potential for growth that the market holds, several established and emerging companies are investing in the market and are also adopting strategies to strengthen their position in the market.

Some of the prominent players venturing in the IVF market are CooperSurgical Fertility Company, Corning Incorporated, Eppendorf AG, Esco Micro Pte. Ltd, Laboratoire CCD, Leica Microsystems, and Nikon Corporation. Further, the key strategies adopted by market players to sustain in the market are agreement, partnerships, and collaborations, product launches, business expansions, and rewards and recognition, among others. The most preferred strategy amongst these has been that of agreements, partnerships, and collaborations, followed by acquisitions since the last few years.

The IVF market for APAC region recorded a value of $6.99 billion in 2018 and anticipated to register a significant growth during the forecast period, 2019-2029. However, certain factors such as the exorbitant cost of ART treatment, low success rate, and ethical concerns associated with IVF treatments pose as challenges in this market.

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