World In Vitro Fertilization Devices & Consumables Market to Grow at a CAGR of 19.7%
PORTLAND, Oregon, June 1, 2016 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "World In Vitro Fertilization Devices and Consumables Market - Opportunities and Forecasts, 2014-2020", global sales of IVF devices and consumables is projected to reach $3 billion by 2020. The IVF disposables and reagent segments collectively accounts for more than three fourth of the market revenue, owing to an increasing number of overall IVF cycles. globally. Europe is the highest revenue generating segment and accounts for around two fifth of the world IVF market share.
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To know more about the report, visit the website at https://www.alliedmarketresearch.com/in-vitro-fertilization-devices-and-consumables-market
In Vitro fertilization (IVF) is a type of assisted reproductive technology, adopted by couples, single mothers, and the LGBT community to deal with infertility conditions. Rising global infertility rates, increasing IVF success rates, and growing per capita healthcare expenditures are boosting the growth of the IVF devices & consumables market. Furthermore, delayed pregnancies and recent innovations in the IVF technology, such as embryoscope and capsule IVF would supplement the market growth. Active government initiatives for LGBT marriages, development of cost-effective IVF procedures and the popularity of fertility tourism is expected to further boost the market growth. However, legal and ethical issues related to IVF treatments, lack of awareness among patients in developing economies, and high costs of IVF devices would limit the market growth.
Capital equipment, such as micromanipulator, IVF cabinets, incubators, and imaging system used in the IVF procedures accounts for the highest share i.e. around 75% in the IVF devices segment. This is attributed to the long shelf-life and high cost related to capital equipment during the IVF procedures. Geographically, Europe would continue to maintain its lead position, owing to the heavy investments made by companies, high affordability, and increasing demand for IVF procedures. This region is expected to grow at a CAGR of 18.2% due to the sophisticated and cost-effective hospitality services and availability of skilled work forces. However, Asia-Pacific is the most lucrative market owing to the rising infertility cases, economic pricing, favorable government regulations, and reimbursements.
Key findings of the study:
- The IVF devices market is expected to grow at a CAGR of 28.4% during the forecast period.
- In the reagents & media segment, cryopreservation media held about 35% of the revenue share in 2015.
- Disposables and consumables used during IVF would remain the highest revenue generating segment throughout the analysis period.
- Fresh IVF cycle was the largest revenue generating IVF technique in 2015 and would continue to maintain this trend untill 2020.
- The IVF clinics segment is expected to be the leading end-users segment through 2020.
Key players operating in this market are largely focusing on product launch as key developmental strategies. Companies are striving to occupy the highest market share through novel product launches such as fully automated vitrification instruments and time-lapse technology. Leading players profiled in this report are Vitrolife AB, EMD Serono, Inc., Irvine Scientific, CooperSurgical, Inc., Cook Medical, Inc., Thermo Fisher Scientific, Inc., Genea Biomedx, Auxogyn Inc., Oxford Gene Technology, and OvaScience Inc.
View all reports related to medical devices at https://www.alliedmarketresearch.com/life-sciences/medical-devices-market-report
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SOURCE Allied Market Research