The Business Research Company’s Global IVF Services Market Report 2020-30: COVID 19 Growth And Change
LONDON, GREATER LONDON, UK, September 3, 2020 /EINPresswire.com/ — The global in vitro fertilization (IVF) services market size is expected to decline from $13.39 billion in 2019 to $12.92 billion in 2020 at a compound annual growth rate (CAGR) of -3.52%. The decline is mainly due to the COVID-19 outbreak that has led to patients’ preference for deferred care in order to avoid visiting hospitals, which resulted in reduced patient volume. The IVF services market is then expected to recover and reach $18.17 billion in 2023 at a CAGR of 12.04%.
The rising infertility rate contributed to the growth of the in vitro fertilization (IVF) services market. Infertility is known as the inability to conceive within 12 months. The global fertility rates fell from 3.2 live births per woman in 1990 to 2.5 live births per woman in 2019. According to the US Department of Health and Human Services, around 12 to 13 in every 100 couples have a problem in conceiving. Moreover, according to the Indian Journal of Community Medicine, 15 to 20 million infertility cases are recorded in India alone. The rising infertility rate made people resort to IVF services, thus contributing to the growth of the global in vitro fertilization market size.
The high cost of IVF services limits the in-vitro fertilization (IVF) services market growth. For instance, the cost of a basic IVF package ranges from $4,700 to $20,000, and the average price in the USA is around $12,000. The total cost of a single IVF cycle can range between $8,000 to $30,000. According to FertilityIQ, in 2018, the cost of IVF services was around $22,000, which is now increasing. In emerging economies like India, the cost of IVF services ranges from INR 70,000 to INR 300,000. The high cost of IVF services makes it unavailable to low- and middle-income populations, thus negatively affecting the global in-vitro fertilization market growth.
Platelet-rich plasma (PRP) is the latest technique increasingly used for improving IVF success rate in patients with recurrent implantation failures. PRP is used alongside fertility treatments like IVF to improve the egg quality, uterine lining thickness and endometrial receptivity, and the treatment is primarily for the recurrent implantation failure over multiple IVF cycles. According to an article published by the Journal of Assisted Reproduction and Genetics, women treated with PRP experienced a significant improvement in Follicle-Stimulating Hormone (FSH), Anti-Müllerian Hormone (AMH) and Antral Follicle Count (AFC), which helps improve fertility.
The IVF services market consists of sales of in-vitro fertilization (IVF) services by entities (organizations, sole traders and partnerships) that provide these services. IVF is one of the more widely known types of assisted reproductive technology used to address infertility. IVF is a process of fertilization where an egg is combined with sperm outside the body, in vitro (in glass).
The global IVF services market is segmented by cycle type into fresh IVF cycles (non-donor), thawed IVF cycles (non-donor), and donor egg IVF cycles. By service provider, the market is segmented into fertility clinics, hospitals, surgical centers, and clinical research institutes.
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Fertility Services Global Market Report 2020-30: Covid 19 Growth And Change (https://www.thebusinessresearchcompany.com/report/fertility-services-global-market-report-2020-30-covid-19-growth-and-change)
Fertility Treatments Market Global Report 2020 (https://www.thebusinessresearchcompany.com/report/fertility-treatments-market-global-report)
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Source: EIN Presswire