Infertility Devices Market To Find Better Growth with US$ 14.6 Billion By 2027 | CAGR: 8.4%: Coherent Market Insights
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Global Infertility Devices Market, by Product Type (Equipment and Accessories), by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery, and Others), by Gender (Male and Female), By End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 7,104.1 million in 2018 and is estimated to exhibit a CAGR of 8.4% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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The rising number of collaborations and partnerships strategies adopted by market players are the factors that are expected to fuel the market growth over the forecast period. For instance, in October 2019, Carl Zeiss Meditec AG entered into a partnership with Kyoto University to proliferate the company’s research and development capabilities. Similarly, in November 2019, Invo Bioscience entered into commercialization agreements for the InvoCell in-vivo fertility system in Turkey and Jordan, to support the company’s expansion into Middle East region.
Moreover, increasing prevalence of infertility is further expected to augment growth of the infertility devices market over the forecast period. For instance, according to the International Journal of Women’s Health and Reproduction Sciences, the global prevalence of infertility was 10-15%, in 2018. According to the same data source, in Iran, couples suffering from primary and secondary fertility problems were around 78.4% and 21.6%, respectively in 2018.
Furthermore, rising number of government funding programs for infertility is further expected to fuel the infertility devices market growth over the forecast period. For instance, Ontario (Canada) government launched the Ontario Fertility Program, in December 2015 to provide funds to help infertile patients to overcome such infertility problems. Moreover, access to funded fertility services was available for all forms of infertility (including medical and non-medical infertility), regardless of gender, sexual orientation, or family status.
Browse 38 Market Data Tables and 29 Figures spread through 214 Pages and in-depth TOC on ‘Infertility Devices Market’- Global Forecast to 2027, by Product Type (Equipment and Accessories), by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery, and Others), by Gender (Male and Female), By End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Among regions, North America is expected to hold a dominant position in the infertility devices market over the forecast period. The regional growth is attributed to increasing adoption of growth strategies by market players such as product launches, investments, and facility expansion in the region to strengthen their market presence. For instance, in November 2015, INVO Bioscience, Inc., a medical device company announced that the U.S. Food and Drug Administration (FDA) approved company’s De Novo request for INVOcell. INVOcell is the first intravaginal culture system that was granted marketing clearance in the U.S.
Moreover, key players are focusing on adopting inorganic growth strategies such as distribution agreement, collaborations, and acquisitions by market players in North America which is further expected to boost the infertility devices market growth in the region over the forecast period. For instance, in November 2018, Ferring Pharmaceuticals signed an agreement to acquire the exclusive U.S. commercialization rights for the INVOcell intravaginal culture (IVC) system from INVO Bioscience Inc. The system include the INVOcell IVC device, retention device, and holding block.
Furthermore, Europe is expected to witness significant growth in the infertility devices market over the forecast period, attributed to favorable reimbursement policies by governments for infertility treatment. For instance, according to the European Policy Audit on Fertility (EPAF) rules, there is 100% coverage for women under 43 years for four IVF treatments and up to six IUI treatments in France.
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Key Takeaways of the Infertility Devices Market:
- The global infertility devices market is expected to exhibit a CAGR of 8.4% over the forecast period, attributed to rising adoption of collaborations and acquisition strategies by the market players, coupled with increasing number of products approvals by regulatory organizations. For instance, in October 2019, INVO Bioscience, Inc., a medical device company focused on creating alternative treatments for patients diagnosed with infertility, announced about receiving the CE mark for its INVOcell culture and retention device.
- On the basis of product type, equipment segment held a dominant position in the infertility devices market in 2018, attributed to increasing research and innovation in the field of fertility by the research institutes. For instance, in 2018, researcher at Worcester Polytechnic Institute developed a device named Spartan. The Spartan device aids women to get pregnant with fewer treatment trials in IVF fertilization by selecting faster and healthier sperm. The Spartan name is the short form of Simple Periodic Array for Trapping and Isolation. This device uses field of three-dimensional posts to create obstacle of array through which sperm passes to outlet. The fastest and healthiest sperm that gets into the outlet are used for further IVF (In vitro fertilization) procedure.
- On the basis of procedure, assisted reproductive technology (ART) procedure segment accounted for the major market share in the infertility devices market in 2018, attributed to increasing innovation and development in ART. For instance, in 2017, Esco Medical Group launched Semi-Closed Environment (SCE) IVF device to offer controlled environment, while handling the gamete and embryo in IVF procedure.
- On the basis of gender, females segment accounted for the major market share in the infertility devices market in 2018, attributed to rising prevalence of infertility. For instance, according to the data by National Survey of Family Growth (NSFG) published in 2018 indicates that in the U.S., around 5.5% of all female population were infertile and 6.7% of married women aged 15 to 44 years were infertile.
- Key players operating in the global infertility devices market include Carl Zeiss Meditec AG, Thermo Fisher Scientific Inc., Vitrolife AB, The Baker Company, Inc., The Cooper Companies, Inc., Fujifilm Irvine Scientific, IVFTECH APS, Kitazato Corporation, MedGyn Products, Inc., Rocket Medical plc, SOMATEX Medical Technologies GmbH, Cook Group Incorporated, Esco Micro Pte Ltd, Hamilton Thorne, Ltd, and Art Biotech Pvt. LTD
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