Global Vitrification Market: Industry Analysis and Forecast (2019-2027)
Global Vitrification Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 17.5% through 2019 to 2027, reaching nearly US$ XX Mn in the forecast period.
The Global Vitrification Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Vitrification Market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Vitrification Market Overview:
The vitrification process is that is used to freeze reproductive cells at the temperature of 196 degrees Celsius within a fraction of seconds. The cryopreservation technique is used in widely used in Vitrification as this technique allows the specimen to be preserved in liquid nitrogen at 196 degrees Celsius.
Global Vitrification Market Dynamics:
The Global Vitrification market was valued at USD 6500 million in 2020 and is estimated to reach USD 9400 million with a growing CAGR of 17.5% in the forecast period 2019-2027.
The vitrification market is greatly driven by the rising rate of infertility around the world and increasing awareness regarding reproductive health. Moreover, the preservation of biospecimens like sperm, embryos are further boosting the market growth. Moreover, delayed gestation due to carrier, educations and growing women’s independence, and financial crises and growing infertility treatment are likely to motivate the market growth of vitrification in the forecast period.
In addition to legal acceptance of transgender and same sex-marriages, rising single parenthood are hitting the market growth in the forecast period. And this factor has further increased the demand for embryo, sperm, and oocyte preservation. The companies like Apple, Facebook, and Google are offering policies to cover the freezing and preservation expense. Apple will pay full- and part-time employees up to USD 20,000 for the procedure and storage cost for female employees to freeze their eggs. And this policy has boosted the market growth in the US. Further, NCB News reported that Facebook will also cover the freezing as well as storing expenses to boost women’s empowerment. And this factor has motivated the utilization of vitrification techniques in the US.
Moreover, the rising incidence of cancer and the powerful treatment may induce the infertility level. Moreover, people with cancer history and genetic mutation are advice to prefer egg preservation treatment for the future aspects to have safe pregnancies. This factor is attracting more individuals and is gaining more acceptance in developed countries.
Global Vitrification Market Segment Analysis:
Oocyte Sub-segment is dominating the Specimen segment of Global Vitrification Market:
Oocyte freezing is gaining more attraction in the specimen segment and is accounting for 43.9% of the market share in 2020. Vitrification of oocyte is solidification in which oocyte is treated with cryoprotective substance and then is merged in liquid nitrogen. This process offers two major benefits like early-stage pregnancy with no birth defects and chromosomal abnormalities associated with ovarian aneuploidy. In addition, for women who do not have a partner and to conceive a pregnancy oocyte or freezing an egg is a widely preferred technique. And this factor is stimulating the growth of the global vitrification market. Moreover, women’s empowerment and independence are also factors responsible to increase the market growth in the forecast period. Further, oocyte specimens are also available in kits, consumables, and devices.
Global Vitrification Market
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IVF clinic segment is considered to supplement the growth of the Global Vitrification Market.
In Vitro Fertilization (IVF) Clinic is dominating the application segment of the global vitrification market in the forecast period. The rising rate of infertility and increasing delayed pregnancies are the chief factors boosting the growth of in-vitro fertilization techniques. In addition, the acceptance of in-vitro fertilization due to modernization and the growing disposable income of individuals are supplementing the growth as this process is highly expensive. Moreover, due to wider acceptance and improved technology, the demand for IVF clinics is increasing. Further, in-vitro technology has improved the health of the reproductive system and due to this factor women are shifting more towards the vitrification technique. Further, the In-vitro fertilization market is estimated to reach USD 847800 million by 2027. The increase in survival rate and chances of pregnancy due to in-vitro fertilization are boosting the market growth. Moreover, the large number of biobanks has further increased the egg donation process and this is motivating the market to generate more revenue. Further, market players are entering the market due to wider opportunities in the future.
Global Vitrification Market
Global Vitrification Market Regional Insights:
Global Vitrification Market Regional Insights is segmented into North America, Asia Pacific, Europe, Latin America, Middle East, and Africa.
Europe is dominating the vitrification market. As Europe is recognized as a major player in Assisted Reproductive Technology (ART) Space and this factor has positively impacted the market growth in the region. Europe IVF market is estimated to grow by 5.4% CAGR in the forecast period. Moreover, the presence of major market players in the region like Thermo Fisher Scientific, Inc., DRK Kliniken Berlin, Cadila Healthcare Ltd., LG Life Sciences, and EMD Serono Inc., Sun Pharmaceutical Industries Ltd are likely to boost the market growth. Further, the growing countries of Europe are France, Germany, Italy, and Sweden with 11.5% CAGR in the forecast period. Moreover, Europe is leading in the healthcare industry and is estimated to gain a larger market share due to technological investments and high-end infrastructures with rapid acceptance by the European population. Also, rising investment in research and development for new vitrification solutions together with regulatory guidelines to support the fertility process in laboratories and increasing cryobanks is supporting the market in positive aspects.
Global Vitrification Market
The objective of the report is to present a comprehensive analysis of the Global Vitrification Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Vitrification Market dynamics, structure by analyzing the market segments and project the Global Vitrification Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Global Vitrification Market make the report investor’s guide.
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Global Vitrification Market
Global Vitrification Market, by Region
• North America
• Asia Pacific
• The Middle East and Africa
• South America
Global Vitrification Market Key Player
• IVF Store LLC
• Frozen Cell
• Cook Medical Inc
• IMV Technologies
• Coopersurgical Fertility And Genomic Solutions
• Fujifilm Irvine Scientific
• Biotech Inc.
• Kitazato Corporation
• Merck KGaA
• Genea Biomed
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