In Vitro Fertilization Banking Services Market

The in vitro fertilization (IVF) is a fertilization procedure in which the egg is fertilized with the sperm outside of the body. It involves the monitoring and the stimulation of the female’s ovulatory process. The ovum or ova is removed from the female ovaries and is fertilized with the culture medium in the laboratory. After, the zygote undergoes the embryo culture for 2-6 days. Then it is implanted into the female’s uterus for the establishment of the successful pregnancy. This service has various advantages like it saves the generation-wise family group record of up to three generations. It increases the chances of transfer with chromosomally normal embryo for females with diminished ovarian reserve. It can be used for the advanced maternal age as it increases the chances of future multiple transfers to build the family they desire. These services are getting more and more popularity due to diverse techniques like egg freezing, sperm freezing, and embryo freezing. Celebrities are also contributing for the advertisement of the IVF banking services as they are also experiencing the technological services for their convenience. Not only this but the clinics are also providing these services at the affordable costs. 

COVID-19 Scenario Analysis:

COVID-19 has created economic crisis along with healthcare crisis. COVID-19 pandemic has stretched healthcare system worldwide, developed countries are expected to cause economic recession. The COVID-19 pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in revenue from March. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. Social distancing and localized curfews have resulted in delayed elective surgical procedures. In addition, visa cancellations have led to a hiatus in medical tourism and can negatively impact the healthcare services market growth.

Top impacting factors: market scenario analysis, trends, drivers, impact analysis

The change in the lifestyle, food habit, and work pressure are some of the factors that fuel the growth of the market. Increase in cases of infertility due to various factors propel the population to opt for IVF services, which in turn drives the growth of the market. In addition, increase in awareness regarding the in vitro fertilization further fuels the growth of the market. The development in the existing IVF technique. Launch of new products like new centres or clinics also fuel the growth of the IVF banking services market.

However, longer duration of this process and risks related to the process are some of the factors that restraint the growth of the IVF banking services market.

New product launches in to flourish the market:

In August 2020, Boston IVF, Inc, opened the new fertility centre in the Chestnut Hill, Massachusetts. It helped to expand the services further to target broader range of people.

In February 2021, Generate Life Sciences launched California Cryobank in Canada, a new donor sperm bank for the Canadian audience.

Surge in the usage of IVF banking centres

Increase in awareness about the IVF technology in the population and rise in the success rate of the IVF process drive surge the usage of the IVF banking centres. New centre launches in the various areas can lead to increase the access of the population to the centres that can help to surge the usage of the IVF banking centres.

         Key benefits of the report:

• This study presents the analytical depiction of the global in vitro fertilization banking services industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global in vitro fertilization banking services market share.
• The current market is quantitatively analyzed to highlight the global in vitro fertilization banking services market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global in vitro fertilization banking services market analysis based on competitive intensity and how the competition will take shape in coming years.

           Questions answered in the in vitro fertilization banking services market research report:

• Which are the leading market players active in the in vitro fertilization banking services market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the in vitro fertilization banking services market?
• What are the projections for the future that would help in taking further strategic steps?

 In Vitro Fertilization Banking Services Market Report Highlights