The global Infertility Devices Market is estimated to be valued at US$ 10,129.9 Mn or Bn 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 are used for the screening and treatment of infertility at the clinics. These devices assist in procedures like in-vitro fertilization, artificial insemination, and others. Key infertility devices include culture media, micromanipulation systems, cryosystems, ovum aspiration pumps, sperm analyzers, and incubators. These advanced devices help achieve higher pregnancy success rate and improve IVF outcomes. The increasing prevalence of infertility among couples and growing awareness about infertility diagnosis and treatment options are fueling the demand for infertility devices.
Market key trends:
One of the key trends in the infertility devices market is the technological advancements in ART treatment. Manufacturers are actively developing more precise and effective infertility treatment equipment and tools. For example, advanced incubators that can closely mimic in-vivo conditions for embryo culture and development. Similarly, improved sperm analyzers and ovum aspiration pumps with higher accuracy. Further, 3D sperm analyzers and embryo viewing systems allow for better quality control and monitoring. Such innovations are supporting improved IVF outcomes and success rates, thereby propelling the demand for advanced infertility devices.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as infertility treatment market needs significant amount of capital investment to establish manufacturing facilities and distribution networks. Also, the market is dominated by few major established players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to presence of established players and availability of substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is low as there exist large number of suppliers for raw materials used in manufacturing infertility devices.
Threat of new substitutes: The threat of new substitutes is low as infertility devices and techniques used for infertility treatment have limited substitutes.
Competitive rivalry: The competitive rivalry among existing players is high due to presence of few major players.
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 and rise in infertility rates.
Regional analysis
North America holds largest share in infertility devices market in 2023 and is expected to continue dominating the market during forecast period. Asia Pacific infertility devices market is expected to witness fastest growth rate over the forecast period owing to growing medical tourism in the region.
Key players
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.
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