LONDON, June 22, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the global IVF services market, the rising number of same sex couples and their marriages is expected to be a major driver of the in vitro fertility (IVF) services market during the forecast period. Same sex couples that desire to have a child will positively influence the IVF services by utilizing Partner IVF, a type of IVF for lesbian couples that lets both partners become physically involved in the conception of their baby. This process involves eggs provided by one partner, which are fertilized with donor sperm, and the other carries the pregnancy. In the start of the year 2021, the Statistics Netherlands reported having nearly 20 thousand gay couples. In France, there were 4,000 same-sex marriages in 2020. Thus, this rising number of same sex couples will boost the fertility services market.
There is a related rising number of fertility clinics, also expected to boost the in vitro fertilization services market in the forecast period. This rise in number of clinics is due to change in family patterns such as single parenthood, same sex couples. In 2020, there were about 450 U.S. fertility clinics, 106 licensed clinics fertility treatment centers in UK. The increase in the number of fertility clinics has reduced the waiting time for couples to undergo IVF treatment, and this will contribute to the growth of the market.
Western Europe was the largest region in the global IVF services market, accounting for 32.6% of the total in 2020. It was followed by North America, Asia-Pacific, and then the other regions. Going forward, the fastest-growing regions in the IVF services market will be Eastern Europe and Asia-Pacific, where growth will be at CAGRs of 14.0% and 12.1% respectively. As per TBRC’s in vitro fertilization services market analysis, these will be followed by North America and South America, where the markets are expected to grow at CAGRs of 11.7% and 11.1% respectively, during 2020-2025.
The Business Research Company’s report titled IVF Services Global Market Report 2021: COVID 19 Growth And Change to 2030 covers major IVF services companies, IVF services market share by company, IVF services manufacturers, IVF services market size, and IVF services market forecasts. The report also covers the global IVF services market and its segments.
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The global IVF services market is expected to grow from $12.92 billion in 2020 to $14.34 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.86 billion in 2025 at a CAGR of 12%.
Major players in the IVF services industry include Monash IVF Group, Virtus Health Limited, Chelsea and Westminster Hospital NHS Foundation Trust, Genea Limited, Boston IVF, and others. The IVF services market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 2.22% of the total market in 2020. Companies in IVF services market face intense competition from new entrants and local service providers. The market completion is characterized by advances in technology, prices, and availability of services. Monash IVF Group was the largest competitor with 0.57% of the market, followed by Virtus Health Limited with 0.53%, Chelsea and Westminster Hospital NHS Foundation Trust with 0.51%, Genea Limited with 0.36%, Boston IVF with 0.08%, IVF Spain with 0.05%, Morpheus Life Sciences Pvt. Ltd. with 0.04%, Dünya IVF with 0.03%, Cardone Reproductive Medicine & Infertility LLC with 0.03% and Cloudnine Fertility with 0.02%.
IVF Services Global Market Report 2021: COVID 19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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