According to a new report published by Allied Market Research, titled, “Asia-Pacific IVF Services Market by cycle type and end-user: Opportunity analysis and industry forecast, 2020–2028,” the Asia-Pacific IVF Services Market was valued at $6,243.38 million in 2020, and is expected to reach $13,509.30 million by 2028, registering a CAGR of 10.1% from 2020 to 2028.
In vitro fertilization (IVF) is a type of assisted reproductive technology in which ovum is artificially fertilized in laboratory settings and then implanted into uterus. IVF is one of the widely used treatments, which assist people with infertility problems including couples, single mothers, and the LGBT community. Increase in infertility rate, rise in trend of delayed pregnancies, surge in IVF success rate, and growth in disposable income in Asia-Pacific drive growth of the IVF services market. However, the market growth is restricted by complications associated with IVF treatment and low awareness level for IVF in some under developed regions.
Also, APAC IVF market has witnessed negative impact due to COVID-19 outbreak. A sudden fall in the number of patients visiting IVF centers and fertility clinics for treatment has been observed during this pandemic. As IVF is a time-sensitive fertility treatment, every passing week is important for couples who expect to become parents through IVF procedure. Patient treatment schedule has been postponed or changed, owing to which they have to face huge emotional disappointment and uncertainty. Moreover, ongoing pregnancies by IVF treatment are also struggling for necessary scans and medicines.
By cycle-type, the fresh cycle (non-donor) segment was the major revenue contributor in 2018, and is expected to dominate the market during the forecast period.
Depending on end user, the Asia-Pacific IVF services market was dominated by the fertility clinics segment in 2018, and is estimated to continue this trend during the forecast period, owing to low cost of treatment and increase in number of fertility clinics.
Key Findings Of The Study
- The fresh IVF cycle (non-donor) segment is expected to grow at a significant CAGR of 10.2% (in terms of value) from 2020 to 2028
- China generated the highest revenue in the Asia-Pacific IVF services market in 2019
- Japan witnessed the highest number of IVF treatments cycles in 2019
- India is expected to register the highest CAGR of 13.1% (in terms of value) throughout the forecast period
Comprehensive competitive analysis and profiles of major market players such as Apollo Hospitals Dhaka, Australian Concept Infertility Medical Center (ACIMC), Bahosi Fertility Centre, Bangkok IVF center, Bloom Fertility and Healthcare, Bloom Fertility Center, Bourn Hall Fertility Center, Bumrungrad International Hospital, Center for Advanced Reproductive Medicine and Infertility, CHA Fertility Center, Chennai Fertility Center, Cloudnine Fertility, Damai Service Hospital, Fatemieh Infertility Center, Fertility Associates, Fertility Centre Nepal (Part of Wecare Health Services, India), Fertility First, Flinders Reproductive Medicine Pty Ltd, Genea Oxford Fertility Limited, IHH Healthcare Berhad, IVF NAMBA Clinic, IVF Sri Lanka Life Plus (Pvt) Ltd, IVF Van Hanh, KL Fertility & Gynecology Centre, Lanka Hospitals, LIFE - Lahore Institute of Fertility & Endocrinology, Lotus Fertility Clinic, Manipal Fertility, Maria Fertility Hospital, MEHR IVF Clinic, Monash IVF Wesley Hospital Auchenflower, Morpheus Life Sciences Pvt. Ltd., Morula IVF, National University Hospital, Nepal International Fertility Centre, Oak Medical Group/Oak Clinic, Raffles Medical Group, Repromed, RSUP Dr. Hasan Sadikin Bandung, SAFE Fertility Center, Sanno Hospital, Saqib Fertility & IVF Center Mid City Hospital, Shanghai Ji Ai Genetics & IVF Institute, Shanghai, United Family Hospital, Southend Fertility and IVF, Superior A.R.T Myanmar, Thomson Medical Pte. Ltd., TMC Fertility Centre, Tu Du Hospital, Victory A.R.T. Laboratory Phils., Inc., and Virtus Health.