Cryopreservation for In-Vitro Fertilization Market is predicted to record a 10.6% CAGR through 2033
The cryopreservation for in-vitro fertilization market is registering a valuation of US$ 461.4 million in 2023 and anticipates rising to US$ 1,264.9 million by 2033. The market is likely to capture a CAGR of 10.6% during the forecast period.
There are several driving factors in the global market, including:
- Increasing incidence of infertility: The prevalence of infertility is on the rise due to various factors such as age-related infertility, lifestyle changes, and medical conditions. Cryopreservation of gametes (eggs and sperm) and embryos can offer an effective solution for preserving fertility and increasing the chances of a successful pregnancy.
- Advancements in cryopreservation technology: The development of new cryopreservation techniques, such as vitrification, has improved the success rates of cryopreserved gametes and embryos. It has led to increased adoption of cryopreservation services and overall market growth.
- Growing awareness of fertility preservation: There is a growing awareness of fertility preservation options among both men and women. Many individuals choose to delay parenthood for personal or career reasons and are opting for cryopreservation of their gametes for future use.
- Increasing demand for IVF treatments: Increase in IVF treatments globally due to factors such as delayed childbearing, rising infertility rates, and advancements in IVF technology. It has increased demand for cryopreservation services, as IVF treatments often involve the cryopreservation of gametes and embryos.
- Adoption of the new legislation: Many countries have adopted legislation that allows for preserving gametes and embryos for social reasons. It has led to increased demand for cryopreservation services among individuals who wish to preserve their fertility for non-medical reasons.
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Limited Availability and High-cost Services Decline the Market Growth
Several factors can restrain the cryopreservation in-vitro fertilization market growth, including:
- High cost: Cryopreservation services can be expensive, and the cost can vary depending on the type of service required. It can be a barrier for many couples who cannot afford the cost of IVF treatments and related cryopreservation services.
- Lack of insurance coverage: Insurance coverage for fertility treatments and cryopreservation services varies widely across countries and regions. Lack of insurance coverage for these services can be a significant restraint for many individuals who require cryopreservation for IVF.
- Limited availability of services: Cryopreservation services may not be readily available in all regions, especially rural areas. It can limit access to these services for many individuals who may need them.
- Ethical and legal concerns: Cryopreservation of embryos and gametes raises ethical and legal concerns, particularly about using and disposal of surplus embryos. These concerns can limit the availability and adoption of cryopreservation services.
- Uncertainty of success: The success rates of cryopreservation can vary depending on factors such as the quality of the gametes and embryos, the age of the woman, and the experience of the IVF clinic. The uncertainty of success can be a restraint for many individuals considering cryopreservation services.
- The cryopreservation for in-vitro fertilization market is expected to have a valuation of US$ 1,264.9 million by 2033.
- With a CAGR of 10.6%, the global market is increasing during the forecast period.
- The United States cryopreservation for in-vitro fertilization market is anticipated to record a CAGR of 11.2% through 2033.
- Historically, the market secured a CAGR of 9.2% between 2018 and 2022.
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Other Essential Players in the Cryopreservation for In-vitro Fertilization Market are:
- Thermo Fisher Scientific Inc.
- Avantor, Inc
- Cesca Therapeutics Inc
- Merck KGaA
- BioLife Solutions, Inc
- Worthington Industries, Inc
- Charter Medical Ltd
- Taylor-Wharton International LLC
- VWR International, LLC
Recent Developments in the Global Cryopreservation for In-vitro Fertilization Market are:
- Thermo Fisher Scientific: In January 2021, Thermo Fisher Scientific announced the launch of a new range of cryopreservation media and systems for IVF. The new range includes media and systems that can be used for the cryopreservation of embryos, oocytes, and sperm.
- In December 2020, Cook Medical announced the acquisition of a new product line of cryopreservation media and devices for IVF from global healthcare company Merck KGaA. The acquisition is expected to expand Cook Medical’s product portfolio in the IVF market.
- IVFtech ApS:In October 2020, IVFtech ApS announced the launch of a new cryopreservation system for IVF that uses a new freezing technology called the CryoTip. CryoTip technology is designed to improve cryopreservation efficiency and success rates.
- Vitrolife AB:In September 2020, Vitrolife AB announced the launch of a new cryopreservation system for IVF called the CryoCube FLEX. The CryoCube FLEX system is designed to offer flexibility and ease of use in cryopreservation for IVF.
- Genea Biomedx:In August 2020, Genea Biomedx announced the launch of a new range of cryopreservation media and systems for IVF. The new range includes media and systems that can be used for the cryopreservation of embryos, oocytes, and sperm.
- Esco Medical:In March 2020, Esco Medical announced the launch of a new cryopreservation system for IVF called the Planer Kryo 360. The Planer Kryo 360 system is designed to offer high-throughput cryopreservation for IVF clinics.
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Cryopreservation for In-vitro Fertilization Market by Category
- Cryopreservation Media
- Cryopreservation Devices
- Cryogenic Liquid Cylinders
- Cryogenic Storage Tank
- Vapor Tanks
- Storage Alarm Systems
- LN2 Auto Fill Systems
- LN2 Sterilization Systems
- Cryo Control/Inventory Management Systems
- Storage Container
- IVF & Fertility Clinics/Centers
- Biobanks – Research & Academic Institutes
- Cryo Shipping/Couriers
- Cryo Monitoring/Inventory Management
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