ALBANY, NY, April 30, 2019 (GLOBE NEWSWIRE) – According to a recent report from Transparency Market Research (TMR), the global IVF market is predicted to show steady and burgeoning growth in the coming years. A strong CAGR of 6.5% is forecast for the period from 2017 to 2022. In 2017, the market was valued at US $ 29.8 million. This number is expected to rise by about $ 725.9 million by the end of 2022.
Based on the type of product, the global In vitro fertilization market is classified in equipment and reagents. Of these, the reagent segment is likely to account for the maximum participation of the global in vitro fertilization market within the forecast period. The growing growth and innovations in the industry is predicted as an important factor to stimulate the growth of the segment. Geographically, the Asia-Pacific region accounts for the largest revenue from the worldwide IVF market in 2017 and is confident to maintain its dominance over the next few years as well. Rising to a CAGR of 6.7%, the Asia-Pacific IVF market will reach $ 235.9 million in the coming years. Strength is attributed to ideal government activities and prosperous health tourism in some developing countries.
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Lifestyle change to be responsible for the growth of in vitro fertilization technology
The increasing prevalence of couples, male or female, is suffering from anatomical factors, more frequently than before. For example, tubal disease, ovulatory diseases of endometriosis and unexplained cases of infertility worldwide are an important key pattern that fuels the demand in the IVF market. Increasing cases of infertility can be credited to a mix of factors such as, altered lifestyle, hereditary and unprotected sexual intercourse. However, the danger of the failed IVF cycle is a key factor that can obstruct the market. Then again, the late advancement in advancement and the developing realm of physicians are anticipated factors that would address this concern.
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Increasing cases of infertility due to lifestyle-induced components, coupled with a shift in the preference of couples to delay the start of a family, have increased the demand for in vitro fertilization in different developed and developing regions. The main focus for addressing the developing issues of male infertility worldwide, mostly affected by hereditary elements, has strengthened demand for the IVF market in recent years.
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Prevalence of diagnosed genetic diseases to boost demand in the global in vitro fertilizer market
The growing prevalence of hereditary problems diagnosed in developed countries among fertile couples still accompanies the in vitro treatment market. These people choose in vitro fertilization to restrict their illness from transferring to their children. The huge availability of hereditary tests in many developed countries is expected to support the recognition of these genetic problems as well. As a result, the market demand for IVF is expected to multiply. The presence of routine protection scope for the in vitro fertilization methodology is the recovery in some countries created and created, which is necessary to provide an interesting market scope. This is also planned to reduce the cost of treatment.
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Cook Medical, Vitrolife AB, CooperSurgical, EMD Serono, Inc., Genea Ltd., Fertility Focus Ltd., Thermo Fisher Scientific, Inc., Merck KGaA, Ovascience, Inc., Rocket Medical PLC, are some of the leading companies that dominate the global IVF market. The increased demand for the global IVF market may be credited to the growing number of infertile cases in men and women since the last few years.
The data and information presented are based on the results of a TMR report entitled "In Vitro Fertilizer Market – (Type of Product – Equipment and Reagents; End User – Fertility Clinics, Hospital and Research Laboratories, and Cryobanks) – Analysis, size, participation, growth, trends and forecasts of the global industry in 2017-2022. "
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