According to a market survey by Allied Market Research, IVF is booming in the Asia-Pacific region. The market size was about $9.3 billion in 2021 but is expected to reach $42 billion by 2031.
Here are some recent developments:
- China has been a major player, with around half of the global demand for IVF services in 2019. China has been investing heavily in IVF research and technology, with the aim of becoming a world leader.
- •Japan has also been a significant market as it has one of the highest rates of IVF treatment in the world. The government has been providing subsidies to fund IVF treatment, and there has been an increase in the number of IVF clinics in recent years.
- Singapore has been positioning itself as a hub for IVF services in Southeast Asia, with some of the most advanced IVF clinics in the region. The government has been investing in research and technology to support the growth of the IVF industry, and there has been an increase in the number of foreign patients coming to Singapore for treatment.
- In Australia, IVF services are widely available, and the country has some of the highest success rates for IVF treatment in the world. The government provides subsidies for IVF, and there has been an increase in the number of IVF clinics in the country in recent years.
- In India, IVF services are becoming increasingly popular, with the country having a large number of IVF clinics. However, there have been concerns about the lack of regulation in the industry, and the quality of care provided by some clinics.