Innovative technologies could boost IVF industry, says Frost & Sullivan report

New technologies and AI adoption could “revolutionise” the IVF industry, analysis from the market research company Frost & Sullivan has found.

The report on the global IVF services market suggests the IVF industry is anticipated to grow significantly, with a compound annual growth rate (CAGR) of 20.46 per cent, from US$17.37bn in 2022 to US$43.97bn in 2027.

Fertilising the egg outside the body is the process of IVF, which is the most prevalent and effective form of ART and contributes more than 95 per cent of the total ART revenue.

The practice of freezing eggs, sperm, and embryos for IVF is becoming popular, which has significantly increased the demand for IVF services.

“Implementation of artificial intelligence (AI) and other advanced technologies, such as preimplantation genetic testing (PGT) and mild ovarian stimulation, is revolutionising IVF services,” said Suchismita Das, healthcare research analyst at Frost & Sullivan.

“Further, these innovative technologies are attributed to increasing the success rate of IVF, leading to the rising adoption of fertility services.

“IVF tourism, as part of medical tourism, is currently a mega trend boosting the growth of IVF services.

“Asia-Pacific countries, such as India and Singapore, and European nations, such as Spain and Poland, are emerging as the most preferred destinations for IVF treatment to expedite the IVF services sector’s growth,” Das added.

Global in Vitro Fertilization Services Growth Opportunities is the latest addition to Frost & Sullivan’s healthcare research and analyses available through its leadership council, which aims to help organisations identify growth opportunities.

In the light of the new findings, the company advises IVF market participants to partner with IVF technology providers to implement technologies that empower embryologists with better decision-support capabilities and collaborate with oncology care providers to offer cancer-specific IVF services.

Analysts also recommend joining with insurance providers to include fertility treatments in health insurance plans as the number of infertility cases rises alarmingly in countries such as India, China and Japan.