The infertility devices market is estimated to be valued at US$ 10,129.9 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Infertility devices help tackle issues related to conception through assisted reproductive technology. These include sperm analyzers, ovum aspiration pumps, micromanipulation systems, incubators, laser systems, cryosystems, sperm separation systems and more. They aid diagnosis of infertility along with treatments such as Intrauterine insemination (IUI), in vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI) and others.
Market Dynamics:
The increasing prevalence of infertility due to obesity, stress, sexually transmitted diseases and environmental factors is driving the demand for infertility devices. Additionally, declining birth rates in several countries is prompting more couples to go for treatments. As per the World Health Organization, infertility affects around 9% of reproductive-aged couples globally. At the same time, advancements in fertility treatments and rising success rates of IVF are boosting adoption. However, factors like high treatment costs and low awareness in rural areas pose challenges. Nonetheless, ongoing research and development of new and advanced devices is expected to create numerous growth opportunities over the forecast period.
SWOT Analysis
Strength: Infertility devices market is driven by increasing infertility rate globally. Assisted reproductive technology has high success rate in treating infertility issues. Technological advancements in infertility treatment devices have improved the process of infertility treatment.
Weakness: High cost of infertility treatment restricts access to only affording patients. Stringent regulatory processes increase timeline for new product approval.
Opportunity: Developing countries present large untapped market opportunity owing to increasing healthcare expenditure. Adoption of affordable In-Vitro Fertilization devices can boost market penetration.
Threats: Social stigma associated with infertility treatment in some regions hampers market growth. Advent of alternative treatment methods pose threat to market growth.
Key Takeaways
Global Infertility Devices Market Demand is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing prevalence of infertility among people worldwide.
Market size related content comprises: The global infertility devices market size was valued at US$ 10,129.9 Mn in 2023 and is expected to reach US$ 19,798.4 Mn by 2030, expanding at a CAGR of 8.7% during the forecast period. Increasing cases of infertility caused by risk factors such as obesity, stress, sexually transmitted diseases, endometriosis, and polycystic ovary syndrome (PCOS) are driving the market growth.
Regional analysis related content comprises: North America dominated the global infertility devices market in 2023 and is expected to maintain its dominance over the forecast period. Increasing awareness about infertility treatment and adoption of advanced infertility treatment devices are driving the market in the region. Asia Pacific exhibits the fastest growth over the forecast period owing to large patient pool, improving healthcare infrastructure, and growing medical tourism in the region.
Key players related content comprises: Key players operating in the infertility devices market are Carl Zeiss Meditec AG, Thermo Fisher Scientific Inc., Vitrolife AB, The Baker Company, Inc., The Cooper Companies, Inc., Fujifilm Irvine Scientific, IVFTECH APS, Kitazato Corporation, MedGyn Products, Inc., Rocket Medical plc, SOMATEX Medical Technologies GmbH, Cook Group Incorporated, Esco Micro Pte Ltd, Hamilton Thorne, Ltd, and Art Biotech Pvt. LTD, Merck. Key players are focusing on new product launches and geographical expansion strategies to gain competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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