Growing Demand for Assisted Reproductive Technologies (ART) to Capitalize Global Cryopreservation and Fertilization Media Market: fact MR study
Done MR- A supplier of market research and competitive intelligence: Manufacturers in the market produce an improved version with a service life ranging from six months to a year. As IVF clinics, hospitals, and academic research centers are the target end users of the Cryopreservation and Fertilization Media market, the availability of these advanced products will fuel demand, Fact MR concludes in a study.
In 2017, according to the Society of Assisted Reproductive Technology, 10,936 women froze their eggs in the United States. Compared to the analysis of the 2009 data, this number has risen to 23%. In view of this effect, Silicon Valley superiors such as Google and Facebook have offered oocyte cryopreservation services as part of a benefit plan to their employees. It has created growth opportunities in the cryopreservation and fertilization media market.
The sudden pandemic created a severe impact on the IVF industry. The IVF process takes months of planning and treatment. Thus, the drastically reduced number of treatment cycles will lead to a decrease in demand for IVF products.
Cryopreservation involves freezing eggs, sperm and embryos at a temperature below zero. It increases the lifespan of cells. IVF fertilization media are used in the in vitro fertilization process to inseminate and incubate oocytes.
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Key points to remember:
- In 2018, in the United States, 306,197 ART cycles were performed in the 456 clinics, increasing the demand in the United States, thereby capitalizing the market.
- East Asian economies such as China and South Korea have seen lower birth rates and are expected to drive demand for new products.
- The government in emerging economies is taking initiatives that support assisted reproductive technology (ART) treatment.
- Asian countries encourage incentives and funding for IVF fertilization programs.
- Media commercialization has created competition that has raised standards and implemented it in clinical practice.
- Increased awareness of IVF technologies is further expected to drive the market growth.
- The high cost of IVF and cryopreservation may restrict market expansion.
- Less awareness of assisted reproductive technology (ART) treatments in developing countries.
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The major players in the cryopreservation and fertilization media market are targeting a key product upgrade strategy. This will help key players to move forward in increasing market share. For example:
- In February 2020, Kitazato produced an improved version of Vitrification and Thawing Racks. It has a lifespan of 3 months longer than the previous version.
- In October 2019, FUJIFLIM Irvine Scientific obtained approval for Assisted Reproductive Technology (ART) treatments, increasing company values in European regions.
Other key players operating in the market are Cooper Surgical, Vitrolife AB, Cook Medical, FUJIFILM Irvine Scientific, Kitazato corporation, Genea Biomedx, GYNEMED GmbH & Co., KG (A Hamilton Thorne Company), FERTIPRO NV, Nidacon International AB, Microm Ltd.
More information on the Global Cryopreservation and Fertilization Media Market:
Fact MR in its new offering brings forth unbiased analysis and global industry analysis of the global Cryopreservation and Fertilization Media market presenting historical demand data (2016-2020) and forecast statistics for the period (2021-2031). The study reveals compelling insights into the Cryopreservation and Fertilization Media market with detailed segmentation based on product type (cryopreservation medium and fertilization medium) based on media type (one-step media and sequential media / two-stage) depending on the end user (In- Vitro fertility centers, hospitals and university research institutes), depending on the region (North America, Latin America, Europe, South Asia, South Asia ‘East, Oceania, Middle East and Africa)
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