LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global IVF devices and consumables market to grow at a CAGR of close to 9% during the forecast period, according to their latest market research report.
Delayed pregnancies among women is one of the major trends being witnessed in the global IVF devices and consumables market 2019-2023. With the increase in the average age of women giving birth, the risk of infertility also increases, as fertility declines with age. Additionally, the risk of conditions such as diabetes and hypertension also increases with age, which further complicates a pregnancy. This increases the chances of infertility, which, in turn, increased the demand for IVF devices and consumables.
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According to Technavio analysts, one of the key factors contributing to the growth of the global IVF devices and consumables market is the rise in the number of infertility cases:
Global IVF devices and consumables market: Rise in the number of infertility cases
Many couples worldwide struggle with infertility and seek medical help for conception or pregnancy problems. According to a CDC report of 2018, about 6% of married women aged 15-44 years in the US are unable to get pregnant after a year of trying to conceive. Infertility is defined as the inability to conceive a child after more than a year of unprotected intercourse. Infertility in women is known to increase with age. This is expected to increase the demand for IVF devices and consumables, thus, contributing to the growth of the market.
According to a senior analyst at Technavio, “The global IVF devices and consumables market is witnessing increasing technological advances. The vendors are providing advanced fertility treatment solutions, both in devices and consumables, which can increase the success rates of ART procedures. This, in turn, is expected to support the growth of the global market.”
Global IVF devices and consumables market: Segmentation analysis
The global IVF devices and consumables market research report provide market segmentation by product (culture media and reagents, accessories and disposables, and instruments) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 48% share, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Five Forces Analysis
- Regional comparison
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