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The radiopharmaceutical market is a dynamic sector driven by advancements in medical imaging and the increasing prevalence of various diseases. It is important for various stakeholders, such as pharmaceutical companies, healthcare providers and investors to understand the market dynamics.
Technological innovations make a critical contribution to the radiopharmaceutical market. Developments of PET and SPECT diagnostic imaging methods have stimulated the need for radiopharmaceuticals.
The increase in the incidence of cancer across the globe is a major driving factor for this radiopharmaceutical market. Radiopharmaceuticals are widely used in cancer diagnosis and treatment since they provide the most effective imaging for disease management.
Today, however, the applications of radiopharmaceuticals go beyond oncology. The horizon of the market is growing as radiopharmaceuticals are used increasingly in diagnosing and monitoring cardiovascular, neurological, and musculoskeletal disorders.
We can observe a significant impact of the demographic shift towards an aging population on the market dynamics. The increasing aging population not only increases the demand for diagnostics and related treatments in connection with age-related diseases – such as neurodegenerative disorders that can benefit from radiopharmaceuticals.
The regulatory landscape impacts the radiopharmaceutical market significantly. Legal requirements for the approval and sale of radiopharmaceuticals affect market entry obstacles in terms of competitors.
It is not uncommon to see collaborations and partnerships between pharmaceutical companies, research institutions as well as healthcare providers in the radiopharmaceutical market. Such partnerships promote research and development activities; they also facilitate commercialization of products as well as strengthen market presence.
Radiopharmaceutical market is international, where companies extend worldwide. It’s this need to address patients around the globe and harness emerging economies with unmet medical needs that drive such a trend.
Economic considerations such as healthcare spending and reimbursement formulations affect the availability and cost of radiopharmaceuticals. Economic considerations have effects both on the supply and demand sides of the market.
Market dynamics can also be influenced by patients and their awareness of the benefits associated with radiopharmaceuticals. The rising patient consciousness as well as a liking for non-invasive diagnostic methods, lead to the market’s development.
The radiopharmaceutical market is highly competitive among the leading players. Products innovation, pricing strategies and market share serve as sources of influence for the dynamics in the market since firms need to create competitive advantage.
Tests in the radiopharmaceutical market include problems with production, distribution channels and compliance requirements. Radiopharmaceuticals’ complex nature represents some extraordinary challenges that need constant interaction and improvement from the industry.
In Vitro Fertilization Market Highlights:
In Vitro Fertilization Market Overview
In Vitro Fertilization Market Size was valued at USD 0.91 Billion in 2023. The Global In Vitro Fertilization industry is projected to grow from USD 0.99 Billion in 2024 to USD 1.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.8% during the forecast period (2024 - 2032).
High average conception age and robust regulatory frameworks are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
CooperSurgical Fertility has reformed the IVF sector with its advanced CooperGenomics PGTai 2.0 platform. This technology holds artificial intelligence to enhance embryo screening, improving accuracy in detecting chromosomal abnormalities.
Recent studies, including one presented at the American Society of Reproductive Medicine Annual Meeting 2020, have demonstrated significant improvements in pregnancy and live birth rates. By refining the process of single embryo transfers, PGTai 2.0 reduces the occurrence of multiple pregnancies, thereby enhancing overall IVF success rates.
Cook Medical has been a key contributor to the IVF field with its historical focus on providing essential tools, such as ovum aspiration needles, and other devices used in assisted reproductive technologies.
While specific updates for 2024 have yet to be released, Cook Medical’s extensive range of products continues to support IVF practitioners in achieving optimal patient outcomes.
Oxford Gene Technology (OGT) plays an important role in advancing IVF procedures through its genomic testing solutions. A top leader in pre-implantation genetic testing (PGT), OGT’s technology ensures that only the healthiest embryos are selected for transfer, thereby improving the likelihood of a successful pregnancy.
In Vitro Fertilization Market Trends
- Growing Prevalence of robust regulatory framework to boost market growth
These have been a major concern that are attempted to be addressed by the medical fraternity. The root cause of the same can be traced back to delayed pregnancies lead to the risk of infertility and pregnancy related problems. The growth of assisted reproductive technologies, such as embryo culture media market, has been made possible by the availability of appropriate regulatory frameworks. However, in poorer nations, their penetration is still comparatively sluggish.
Further, the worldwide in vitro fertilization industry has seen a dramatic increase in the average age of first time mothers. This tendency is attributed, according to estimates, to better contraceptive methods and the rising number of women who choose to put off having children.
According to the latest 2024 data from the Australian Institute of Health and Welfare (AIHW), the average age of first-time mothers in Australia has continued to rise. It now stands at approximately 31.9 years, consistent with the trends observed in previous years. This reflects the broader trend of delayed childbearing in many developed countries due to factors such as career priorities, financial stability, and lifestyle choices​.
The average age for first-time mothers growing, an increasing number of women are expected to face problems in conceiving naturally. In this scenario, a growing number of women are forced to opt for IVF treatments, such medical treatments for conceiving or to be first-time mothers has enhanced the market CAGR across the globe in the recent year.
In Vitro Fertilization Market Segment Insights
In Vitro Fertilization Type Insights
The market segments of in vitro fertilization, based on type, includes intrauterine insemination, intracytoplasmic sperm injection, and Ivf using donor eggs. The intrauterine insemination in vitro fertilization segment held the majority share in 2022 contribution in respect to the in vitro fertilization market revenue. This is primarily owing to the rising prevalence of delayed marriages and opt for artificial fertilization across the globe.
For instance, in 2023, new data from the World Health Organization (WHO) indicates that approximately 17.5% of the global adult population—roughly 1 in 6 individuals—are affected by infertility. This condition spans all income levels, with similar prevalence rates observed in high-, middle-, and low-income countries.
This statistic highlights the widespread nature of infertility as a significant global health challenge, emphasizing the urgent need for better access to fertility care, especially in low-income regions where financial barriers often prevent treatment​.
In Vitro Fertilization Devices Insights
The in vitro fertilization market segmentation, based on devices, includes imaging systems, sperm separation system, ovum aspiration pump, micromanipulator, and cryosystem. All the devices uniformly perform in the market and is projected to be the faster-growing segment during the forecast period, 2024-2032.
This is due to the increasing preference for IVF devices to become parents. Hence, rising use of these devices for In Vitro Fertilization positively impacts the market growth.
In Vitro Fertilization Reagents Insights
The in vitro fertilization market data has been bifurcated by reagents into embryo culture media, cryopreservation media, sperm processing media, and ovum processing media. The embryo culture media segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032.
Increasing population and decreasing fertility rate, increasing awareness about in vitro fertilization, and high disposable income are the factors due to which the embryo culture media segment grow in the near future.
As of 2024, Hamilton Thorne remains a leader in the IVF industry, building on the success of its GYNEMED GM501 media product line.
First FDA-approved in 2021, this ready-to-use medium is designed for the washing and handling of human oocytes and embryos, enhancing IVF procedures globally. The product has expanded its reach, receiving CE marks for distribution in Europe, further solidifying its global presence.
In addition to the GM501, Hamilton Thorne continues to innovate by introducing specialized media aimed at optimizing IVF processes. These advancements include new solutions for handling testicular biopsy tissue, embryo vitrification, and sperm processing.
Continuously improving and expanding its product offerings, Hamilton Thorne is further contributing to the growth and success of the IVF industry​.
Figure 1: In Vitro Fertilization Market, by Surgery, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In Vitro Fertilization End User Insights
Based on End Users, the in vitro fertilization industry has been segmented into clinical research institutes, fertility clinics, and hospitals. Fertility clinics held the largest segment share in 2022, owing to the rapid adoption of advanced in vitro fertilization products. Moreover, increasing government initiatives to aware about in vitro fertilization and high disposable income is expected to bolster the market of in vitro fertilization during the assessed timeline.
The fastest growing segment in the in vitro fertilization industry is hospitals. Increased availability and accessibility of possible treatments can be recognized to an increased preference for hospitals for infertility treatments.
In Vitro Fertilization Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America in vitro fertilization market accounted for USD 10.76 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to a lesser birthrate, which linked to various socioeconomic influences across the region.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: In vitro fertilization market share by region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe in vitro fertilization market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, government backing for the growth of the in vitro fertilization, and trained and experienced faculty. Further, the Germany market of in vitro fertilization held the largest market share, and the UK market of in vitro fertilization was the fastest growing market in the European region
The Asia-Pacific in vitro fertilization Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to increased mounting medical tourism in the region for IVF. Moreover, China market of in vitro fertilization held the largest market share.
For instance, India market of in vitro fertilization is the favored destination for medical travelers due to the availability of surgeons, lenient legal measures and regulatory necessities, cutting-edge technology, & cost-effective treatments, India’s fertility centers can provide more patient-oriented therapies.
On the other hand, Singapore is famous for the presence of well-trained doctors, state-of-the-art facilities, and quality care. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2024–2032.
In Vitro Fertilization Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market growth of in vitro fertilization. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the in vitro fertilization industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the in vitro fertilization industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, in vitro fertilization industry has provided medicine with some of the most significant benefits. The in vitro fertilization market major player such as Cooper Surgical Fertility, Cook Medical, Oxford Gene Technology, Merck KGaA, INVO Bioscience, Thermo Fisher Scientific, Genea Limited, Irvine Scientific, Vitrolife GENEA BIOMEDIX, and others are working to expand the market demand by investing in research and development activities.
FUJIFILM Irvin Scientific, Inc. a world leader in the development, innovation, and producer of cell culture media, medical devices for clinical and researchers, and reagents. The company delivers unrivalled service and quality to scientists working in the industrial cell culture, regenerative medicine, assisted reproductive technology and cytogenetic, cell therapy for the large-scale production of vaccines and biotherapies.
FUJIFILM Irvine Scientific's Vit Kit-NX, launched in 2019 and continually optimized through 2024, remains a key innovation in IVF vitrification. This ready-to-use solution supports both open and closed vitrification systems, offering flexible and high-quality media to streamline IVF laboratory processes.
It integrates seamlessly with existing culture systems, enhancing embryo viability during cryopreservation.
Ongoing advancements at FUJIFILM's Center of Excellence focus on improving media formulations and developing new technologies for IVF, driving better success rates in reproductive treatments.
Key Companies in the market of In Vitro Fertilization market includes
- Cooper Surgical Fertility
- Cook Medical
- Oxford Gene Technology
- Merck KGaA
- INVO Bioscience
- Thermo Fisher Scientific
- Genea Limited
- Irvine Scientific
- Vitrolife GENEA BIOMEDIX, among others
In Vitro Fertilization Industry Developments
Merck KGaA has made significant progress in enhancing the IVF process with its next-generation reproductive medicines and genomic technologies. By offering advanced diagnostic tools, Merck KGaA supports IVF planning and treatment, helping clinicians make more informed decisions that can improve treatment success.
INVO Bioscience has introduced a groundbreaking innovation with the INVOcell system, offering a less invasive and more affordable alternative to traditional IVF methods.
This system facilitates fertilization outside the lab setting, making IVF more accessible, especially in regions where the cost of traditional IVF treatments can be prohibitive.
Thermo Fisher Scientific continues to lead in reproductive health innovation. The company provides a comprehensive range of products—from diagnostic testing to laboratory equipment—that enhance the IVF process.
These products help optimize outcomes by ensuring higher-quality results for patients undergoing fertility treatments.
Genea Limited is renowned for its high-quality fertility solutions, particularly in the development of advanced embryo culture systems. Genea’s innovations in culture media and monitoring systems have been proven to increase success rates for embryo development and implantation, further advancing the possibilities of IVF treatments.
Thermo Fisher continues to drive innovation in the IVF market with its latest advancements in genetic screening and cryopreservation technologies.
In 2024, the company introduced next-generation tools designed to optimize embryo development, significantly improving success rates in IVF treatments. Their focus remains on enhancing diagnostic precision, providing IVF labs with cutting-edge products to streamline fertility procedures globally.
In a significant shift within the IVF sector, Cook Medical announced the sale of its Reproductive Health division to Astorg, a private equity firm, expected to close by late 2024.
This strategic move allows Cook to concentrate on other areas within the medical device industry, while the IVF and Assisted Reproductive Technology (ART) business will integrate with Hamilton Thorne, creating a more powerful player in the ART market​.
CooperSurgical continues to lead in fertility solutions, advancing IVF technologies through improved embryo monitoring systems, genetic testing, and storage solutions. Their efforts to enhance clinical outcomes with state-of-the-art tools in sperm analysis and in-vitro culture are setting new standards in the IVF industry, ensuring higher success rates for clinics and patients alike.
In Vitro Fertilization Market Segmentation
In Vitro Fertilization Type Outlook
- Intrauterine Insemination
- Intracytoplasmic Sperm Injection
- Ivf Using Donor Eggs
In Vitro Fertilization Devices Outlook
- Imaging Systems
- Sperm Separation System
- Ovum Aspiration Pump
- Micromanipulator
- Cryosystem
In Vitro Fertilization Reagents Outlook
- Embryo Culture Media
- Cryopreservation Media
- Sperm Processing Media
- Ovum Processing Media
In Vitro Fertilization End User Outlook
- Clinical Research Institutes
- Fertility Clinics
- Hospitals
In Vitro Fertilization Regional Outlook
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North America
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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