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Fetal Bovine Serum market Growth Projections and Opportunities
In-Vitro Fertilization (IVF) has become a widely accepted solution for various types of infertility issues. It aids individuals or couples struggling with infertility in their quest to have a child. IVF offers women the opportunity to achieve pregnancy either using their own eggs or donor eggs, combined with sperm from their partner or a donor. Due to the high cost of IVF procedures, individuals often explore alternative options initially. However, when other treatments prove ineffective, IVF becomes the primary choice for those aspiring to become parents. In some cases, IVF is chosen as a preventive measure against passing certain genetic disorders to the child. Medical laboratories can test embryos for genetic abnormalities, ensuring the implantation of embryos without defects.
Several factors contribute to the growth of the in-vitro fertilization market. These include a rise in infertility rates and surrogacy in developing countries, a surge in reproductive tourism, and the notable success rate of IVF. Furthermore, shifting lifestyles in urban areas and delayed parenthood also contribute to the market's expansion. However, the high cost associated with Assisted Reproductive Techniques (ART) poses a potential hindrance to the global in-vitro fertilization market's growth.
The global in-vitro fertilization market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 10.50% during the forecast period from 2018 to 2023. In 2017, Europe led the market with a 39.0% share, followed by the Americas and Asia-Pacific with shares of 31.8% and 21.1%, respectively. The growth in the European region is attributed to increased government funding for Assisted Reproductive Technology (ART) and a declining fertility rate.
The global in-vitro fertilization market is segmented based on product, type, end-user, and region. In terms of product, the devices segment held the largest market share at 53.5% in 2017, with a market value of USD 3,739.7 million. This segment is projected to register a CAGR of 11.37% during the forecast period.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 0.9 Billion |
| Market Size Value In 2023 | USD 0.95 Billion |
| Growth Rate | 5.7% (2023-2030) |
Fetal Bovine Serum market Market Highlights:
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