IVF world market to reach US$12 billion
Market is expanding to Asia and Africa
The world market for IVF and IVF products will grow from US$8.4 billion this year to $12.5 billion on 2022, according to a report from a market research company.
Research and Markets says that “Factors driving growth in the market are increasing number of cases of infertility owing to lifestyle changes involving unhealthy nutritional habits, penetration of advanced procedures in developing nations, and favorable government initiatives. Geographically, Asia-Pacific is expected to witness the highest growth owing to rising aging population in Japan, favorable childbearing policies in China and rising awareness in countries like India, South Korea, and Thailand.”
Demand for IVF is growing at about 10% annually, owing to rising awareness and social acceptability. Infertility is not just a Western problem, with about 25% of couples in developing countries affected by it, according to the World Health Organisation. An article in PLOS says that in 2010, about 48.5 million couples worldwide were infertile.
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