Asia-Pacific In Vitro Fertilization (IVF) Market report by Allied Market Research, Forecasts the in vitro fertilization market in Asia-Pacific to reach $4,021.3 million by 2021. China would continue to lead the market throughout forecast period with revenue of $1,273.9 million in 2021. However, India is projected to register the highest growth during 2015-2021, both in terms of cycles and revenue.
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The average age of parenthood in the region has sharply inclined over the last decade. Over two thirds of babies in the region are born to a father over the age of 30 years and about 45% of women conceive at age of 30 years and above, for the first time. The stats are even worse in countries such as Japan, Korea, Singapore and Australia. The growing aging population has been the major concern for government in most of the countries in the region. Countries such as Indonesia, Vietnam, Cambodia and Philippines have fertility rates in excess of 2; however, they are keen to boost their fertility rates to counter the large aging population. Indonesia in particular has a fertility rate of 2.1 but has 210 million people within geriatric age. Korea, which has fertility rate of 1.4, has announced financial support for infertility treatment while Singapore with fertility rate of 1.3 has increased the subsidies for treatment to 75% of the treatment cost. All these have been instrumental in driving the growth of IVF market in Asia Pacific. It is expected that, in 2021, over 1.5 million IVF cycles would be performed in Asia Pacific.
The fertility treatment providers such as fertility clinics, hospitals and surgical centers are invariably competing to gain the edge in the ever growing market. Fertility clinics and hospitals had collectively contributed about 80% of the Asia-Pacific IVF market revenue in 2014, owing to their sophisticated and highly advanced treatments. Moreover, specialized fertility clinics have grown in numbers recently with growing patient preference. As a result, the fertility clinic segment has consolidate its revenue share and would continue to do so over the forecast period.
India and China would emerge as key fertility tourism destinations during the forecast period, largely due to factors such as favorable government regulations, availability of skilled workforce and economical pricing of hospital services compared to other global fertility-treatment destinations. The considerable growth in these countries would be supplemented by the increased rate of infertilities, practices of donor egg IVF cycles, and embryo banking.
Key findings of Asia-Pacific In Vitro Fertilization (IVF) Market:
A) India, China and Japan had collectively accounted for about 80% of the total cycles performed in 2014
B) In India, the fertility clinics and hospitals segment had collectively accounted for about 82% of the revenue generated in 2014
C) China generated largest revenue in 2014
D) The IVF market in India is expected to register a promising CAGR of 13.2% during 20152021 in terms of number of cycles performed
The key IVF centers profiled in this report include, Cloudnine, Bloom Fertility Center, Nova IVI Fertility, Vitrolife AB, EMD Serono, Inc., Iwaki Womens clinic, Genea Biomedx, Monash IVF, Repromed, Maria Fertility Hospital, Bangkok Fertility Center, CRM-MIA Philippines, IVFAS and others.