The huge number of infertility population and infertility cases in today’s society is driving the growth of in-vitro fertilization market around the world. As further successful IVF births followed, such kind of fertility treatments by combining egg and sperm outside the womb, and then replacing the resulting embryo in the mother, have become more common in the modern society. Babies have been born thanks to IVF. It brings hope to the couples with infertility problems and growing age, single mothers, as well as LGBT communities.
Over the past decade, the concept of IVF has gained popularity at a swift pace in India. According to the report, India, IVF Service Market published by Allied Market Research, the market, in terms of value, is projected to reach $775.9 million by 2022, at a CAGR (Compound Annual Growth Rate) of 16.6% from 2016 to 2022. (alliedmarketresearch.com, May 2017) Factors such as delayed pregnancies, altered lifestyle, like alcohol consumption, smoking, high-level stress, and so on, are key reasons for the IVF market growth in India. With the low cost advanced reproductive technologies and infrastructure, extensive clinics, availability of skilled physicians, and high IVF birth rate, the Indian IVF market is bound to witness a gush in terms of growth in the years to come.
India IVFServices Market, ($Million), 2014-2022
IVF technology was more readily accepted in the developed countries due to the fact that the technology originated there itself and better technological advancements were made as well. The results of the study published by the Market Data Forecast show that in-vitro fertilization (IVF) Market in North America was valued at USD 480 million in 2016 and is expected to be valued at USD 1001 million by 2022 to grow at a CAGR 16.20% during the forecast period 2016-2022. (EMAILWIRE.COM, October 10, 2017) Presence of encouraging reimbursement scenarios, growing adoption for in-vitro fertilization in the U.S., the growth rate of infertility cases, rising number of embryo banking centers, the aggravating trend of an aging population ensure the demand and the growth of the market in North America.
Presently, more and more people are being educated and accepted by this kind of forefront reproductive technique treatment in countries including China, Australia, UK, and so forth. However, in my perspective, improving and regulating the legal and administrative systems in IVF industry step by step is critically important. Since the IVF technology is still imperfect. The reason is that IVF treatment is little more than a punt for many families. The average cost of Single Cycle IVF Cost is $12000, and the success rate is 41% in the U.S., which means in order to get babies, more than half of couples need multiple treatments, and costs more money. Unfortunately, there are still lots of women desired IVF pregnancy ends in a miscarriage. Once the treatment has failed, the patients will undertake the tortures of their mind and bodies. Therefore, it is crucial to building up maximum age restrictions, minimum income, physician’s examination and the evaluations of the probability of success. If the possibility of getting pregnant cannot meet the lowest rate, the physicians are supposed to set the patients’ mental and physical health as preconditions and persuade the patients to give up rather than think about their own profit first and give them invalid treatment.
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Emailwire (n.d.). North America in-vitro fertilization (IVF) Market -Industry Perspective and Forecast to 2021. Emailwire.com. Retrieved from http://www.emailwire.com/release/488755-North-America-invitro-fertilization-IVF-Market-Industry-Perspective-and-Forecast-to-2021.html
N.a (4 Oct. 2017.). IVF Cost – What is the Cost of In Vitro Fertilization. Advancedfertility.com. Retrieved from https://www.advancedfertility.com/ivf-cost.htm
Fox News (28 Jul. 2017.). New IVF treatment brings hope. Fox News. Retrieved from http://www.foxnews.com/health/2017/07/28/new-ivf-treatment-brings-hope.html
Lauren Lyons Cole (25 Jun. 2017.). A single round of fertility treatments can cost over $20,000 — a couple who did it breaks down where the money went. Business Insider. Retrieved from http://www.businessinsider.com/how-much-ivf-costs-2017-6