 "IVF market in India to reach $ 775 million by 2022")
The in vitro fertilisation (IVF) services market in India is projected to reach $ 775.9 million by 2022, registering a CAGR of 16.6 percent from 2016 to 2022, according to a new report of Allied Market Research (AMR).
The market for IVF services in India is growing, due to rise in the number of married couples suffering from infertility, owing to urbanisation, pollution, stress, and lifestyle patterns. According to the Indian Society of Assisted Reproduction estimates, the infertility cases have increased to about 30 million couples in India.
In addition, India is becoming a preferred destination for medical tourism owing to low service cost and availability of skilled work force. According to the Government of India’s Medical Tourism Department, cost of IVF treatment for infertility in India is one-fourth as compared to the developed countries.
Furthermore, clinics operating in the UK, Australia, Spain, Denmark, Israel, and France find it difficult to provide their patients with donor egg IVF services. Hence, these patients approach India, where donor egg IVF is more convenient and many other infertility treatments such as, IVF, intracytoplasmic sperm injection (ICSI), intrauterine insemination (IUI), and other assisted reproductive technologies are available.
“Rise in incidence of obesity, stress, and delayed pregnancies are the major cause for infertility. In addition, the cost of IVF services in India is very low as compared to other developed countries. This has received the focus of the couples looking for IVF services at low cost, thereby driving the Indian IVF services market,” said Pallavi Jaiswal, analyst (healthcare) at AMR.
However, ethical and legal issues related to surrogacy majorly restrains the market growth. In addition, lack of established regulations and reimbursement policies leading to manipulative practices (such as sex identification and sex selection), are also estimated to limit the adoption of IVF services.
Key players in the Indian IVF services market include Sun Pharmaceuticals Industries Ltd, Cadila Healthcare Ltd, Trivector Origio Scientific, Lab IVF Asia Pte Ltd, LG Life Sciences, Bourn Hall Clinic, Morpheus IVF Fertility Center, Southend Fertility, Indira IVF, Pearl Women Hospital & Yash IVF Center, Corion Fertility Clinic, and Origin International Fertility Center.
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