New research and analysis data reveals by Frost & Sullivan’s, Global IVF services market is expected to reach $43.97 billion by 2027, registering growth at a CAGR of 20.46%
San Antonio – Dec. 26, 2022. In vitro fertilization (IVF), an assisted reproductive technology (ART), is becoming more popular due to an increase in infertility rates worldwide, according to Frost & Sullivan’s recent analysis on the global IVF services market. In IVF Technology the fertilizing the egg outside the body is the process of IVF, which is the most prevalent and effective form of ART and contributes more than 95% of the total ART revenue. Now as times grows the practice of freezing eggs, sperm, and embryos for IVF is becoming popular, which has significantly increased the demand for IVF services. The global market for IVF services is anticipated to grow significantly, with a compound annual growth rate (CAGR) of 20.46%, from $17.37 billion in 2022 to $43.97 billion in 2027.
New advanced technologies like “Implementation of artificial intelligence (AI) and others such as preimplantation genetic testing (PGT) and mild ovarian stimulation, is revolutionizing IVF services,” said Suchismita Das, Healthcare Research Analyst at Frost & Sullivan. “Further, these innovative technologies are attributed to increasing the success rate of IVF, leading to the rising adoption of fertility services.”
Suchismita Das added: “IVF tourism, as part of medical tourism, is currently a Mega Trend boosting the growth of IVF services. Asia-Pacific countries, such as India and Singapore, and European nations, such as Spain and Poland, are emerging as the most preferred destinations for IVF treatment to expedite the IVF services sector’s growth.”
Global in Vitro Fertilization Services Growth Opportunities is the latest addition of Frost & Sullivan’s Healthcare research and analysis, The Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
News Resource – prnewswire.com, December 26, 2022