The rise in prevalence of infertility among men and women, the surge in use of a variety of microscopes in clinical ART procedures, and innovations in microscopes which is increasing treatment efficiency drive the global in-vitro fertilization microscopes market.
PORTLAND, Ore., March 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "In-Vitro Fertilization Microscopes Market by Type (Upright Microscopes, Inverted Microscopes, Stereo Microscopes, Embryo Microscope), by End User (Clinical, Academic Research): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global in-vitro fertilization microscopes industry was valued at $105.4 million in 2021 and is estimated to generate $250.4 million by 2031, witnessing a CAGR of 9.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
The rise in prevalence of infertility among men and women and innovations in microscopes which is increasing treatment efficiency drive the in-vitro fertilization microscopes market. However, high cost of in-vitro fertilization microscopes hinders the global market growth. On the other hand, the surge in use of a variety of microscopes in clinical ART procedures, rise in awareness about IVF treatments, and increasing private investor investments in infertility clinics will present new growth opportunities for the global in-vitro fertilization microscopes market in the coming years.
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic negatively impacted various industries. The in-vitro fertilization microscope manufacturing companies ceased their operations owing to import-export restrictions, lockdowns, and labor shortage due to the fear of contracting the novel coronavirus, resulting in reduced market demand.
- International fertility organizations suggested that except for necessary medical fertility preservation, IVF treatments need to be discontinued after the WHO declared the COVID-19 pandemic in March 2020. Consequently, fewer people chose to undergo IVF procedures, which had an impact on fertility clinics' need for supplies, equipment, and services.
- IVF operations resumed after measures such as decontaminating & validating equipment, ensuring adequate staffing, and completing risk assessments were implemented.
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The embryo microscope segment to grab lion's share during the forecast period
Based on type, the embryo microscope segment contributed to the largest share of more than one-third of the global in-vitro fertilization microscopes market in 2021 and is expected to maintain a noteworthy growth during the forecast period. The same segment is projected to witness the fastest CAGR of 10.0% from 2022 to 2031. This is because these systems display images of embryos and information about their growth patterns. This information enables embryologists to observe healthy embryo development and detect any issues with cell division timing that may occur during the early stages of growth.
The clinical segment to dominate the market during the forecast period
Based on end user, the clinical segment contributed to the largest share of three-fifths of the global in-vitro fertilization microscopes market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 9.7% from 2022 to 2031. IVF clinics offer a variety of services, including healthy oocyte identification, sperm analysis, ICSI, embryo monitoring, and embryo freezing & storage.
Europe to achieve the largest revenue by 2031
Based on region, the market in Europe was the largest in 2021, accounting for more than two-fifths of the global in-vitro fertilization microscopes market and is likely to maintain its dominance during the forecast timeframe. This is because companies in the region are implementing a variety of strategies, such as product launches and research initiatives. The presence of a large population as well as increased awareness of IVF are two important factors contributing to the market growth. However, the market in North America is likely to show the fastest CAGR of 10.2% during the forecast period. This is because of significant factors such as increased knowledge and availability of IVF services in the region.
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Leading Market Players
- Linkam Scientific Instruments
- Olympus Corporation
- Leica Microsystems
- Meiji Techno
- ZEISS International
- Euromex Microscopen B.V.
- Labomed Europe B.V.
- Nikon Corporation
- NARISHIGE Group.
- Hamilton Thorne, Inc.
The report analyzes these key players of the global in-vitro fertilization microscopes market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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