Global IVF Devices And Consumables Market Size (2024 - 2029)

IVF Devices And Consumables Market Analysis

The Global IVF Devices And Consumables Market size is estimated at USD 3.28 billion in 2024, and is expected to reach USD 7.19 billion by 2029, growing at a CAGR of 16.99% during the forecast period (2024-2029).

The key factor driving the market for in vitro fertilization (IVF) devices and consumables is the increasing prevalence of infertility and advancements in reproductive technologies. Further, the rising awareness about infertility treatments, coupled with innovations in IVF techniques and improved success rates, is driving demand for advanced IVF devices and consumables.

Infertility cases are on the rise globally, which will propel the growth of the market during the forecast period. For instance, as per the Center for Disease Control and Prevention updates in April 2024, the general fertility rate in the United States decreased by 3% from 2022. Consequently, rising demand for in vitro fertilization, driven by declining fertility rates, drives market growth. Additionally, government initiatives aimed at combating infertility further bolster this growth. For instance, in August 2024, Japan's Tokyo Metropolitan Government expanded its subsidy program for elective egg freezing to address its declining fertility rate. However, stringent regulations present challenges by mandating written consent from a legal spouse, thereby restricting access for single women and LGBTQ+ professionals. While the program saw a surge in interest with over 7,000 applicants, studies indicate a stark reality: only 15% of women utilize frozen eggs. Hence, these government initiatives to reduce the economic burden of a couple undergoing in vitro fertilization treatment are expected to increase the market share in the upcoming years.

Additionally, the rising research studies for innovation in IVF devices and consumables and increasing product launches contribute to market growth. For instance, in a research study published in the journal of the Royal Society of Chemistry in March 2022, researchers from Florida Atlantic University's College of Engineering and Computer Science developed a microfluidic chip for sperm sorting that is fast, inexpensive, easy to operate and isolates healthy sperm directly from semen. The sperm cells isolated in this microfluidic chip exhibited significantly higher motility, a vital parameter for fertilization. Such advancements in research studies are expected to create a demand for these products to treat infertility, propelling the market growth.

Therefore, the market is anticipated to grow during the forecast period owing to factors such as the high prevalence of infertility and rising research studies leading to technological advancements in IVF devices and consumables. However, the low success rate of IVF procedures and the high cost of devices are likely to impede market growth.

IVF Devices And Consumables Industry Segmentation

As per the scope of the report, in vitro fertilization is a medical procedure whereby an egg is fertilized by sperm in a test tube or elsewhere outside the body. The scope includes medical devices, media, and consumables utilized in the process.

The IVF devices and consumables market is segmented by type, technology, end user, and geography. By type, the market is segmented as instruments, reagents and media, and accessories and disposables. By technology, the market is segmented as fresh embryo IVF, frozen embryo IVF, and donor egg IVF. By end user, the market is segmented as hospitals, fertility clinics, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers market size and forecasts for the IVF devices and consumables market in value (USD) for all the above segments.