Global IVF Devices Market to Grow at 10% CAGR Due to the High Success Rate of the IVF Procedure: Technavio
LONDON–(BUSINESS WIRE)–$TMO #Healthcare–According to the latest market study released by Technavio,
the global
in-vitro fertilization (IVF) devices market is projected
to grow to USD 2.96 billion by 2021, at a CAGR of more than 10% over the
forecast period.
This research report titled ‘Global
IVF Devices Market 2017-2021’ provides an in-depth analysis of
the market in terms of revenue and emerging market trends. This market
research report also includes an up to date analysis and forecasts for
various market segments and all geographical regions.
“In-vitro fertilization is the process in which a woman’s egg is
fertilized externally in a laboratory, and the fertilized egg is
returned to the woman’s uterus. The high success rate of the in-vitro
fertilization procedure is driving more women to opt for this procedure,
leading to the growth of the market,” says Srinivas Sashidhar, a
lead analyst at Technavio for men’s
health, women’s health, and genitourinary research.
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Based on end-users, the report categorizes the global IVF devices market
into the following segments:
- Fertility clinics
- Hospitals
- Research clinics
Fertility clinics
Fertility clinics comprise the largest end-user segment of the IVF
devices market, generating over 60% of the overall revenue. The high
revenue generation in IVF clinics is driven by the high patient
inflow for IVF treatments in these places. Semen collection for
males and ultrasound and sonography for females are the standard
diagnostic tests performed at the center to examine fertility issues.
With the current advancements in technology, there are various treatment
options provided. The high success rate and comparative simplicity of
the IVF procedure are driving more patients to opt for the treatment
option.
Hospitals
“Hospitals with fertility medical facilities are important revenue
contributors to the global IVF devices market. Large multispecialty
hospitals and hospital groups that work under government sponsorship or
through private entities are the secondary end-users, which highly
influence market growth,” says Srinivas.
Large hospitals procure consumables in bulk and engage with many
suppliers, reimbursement authorities, and government organizations. They
provide diagnosis and monitoring facilities to conduct infertility
diagnostic procedures, thus driving the sales of IVF devices products.
Research clinics
Research centers are focused on developing innovative IVF and related
diagnostic solutions and products. They support research personnel and
clinicians to procure and analyze data related to patient diagnosis,
prognosis, and treatment monitoring for infertility. Also, these
institutes focus on identifying unfulfilled niches and limitations to
ensure the successful implementation of IVF devices being used in the
culture of embryos. The great number of universities and academic
centers performing infertility experiments and studies to evaluate the
performance of IVF devices is driving the growth of the market segment.
The top vendors highlighted by Technavio’s research analysts in this
report are:
- Cook Medical
- CooperSurgical
- Thermo Fisher Scientific
- Vitrolife
Browse Related Reports:
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Global
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Fertility
Market in the US 2016-2020
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
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