Wednesday, February 24, 2016

IVF Market Growth: Cost-Effective & Specialized ART Services Across Emerging Asian Economies

According to WHO, infertility and sterility is estimated to be the third-most serious disease worldwide, only after cancer and cardiovascular diseases. Various other global organizations such as American Society for Reproductive Medicine (ASRM) and American College of Obstetricians and Gynecologists (ACOG), committed in reproductive medicine and biology, advocates the highest standards of reproductive health, has stressed on the various methods of ART. 

During the last decade, In vitro fertilization (IVF) procedure has emerged as the popular method of assisted reproductive technology (ART) to many women who have problems conceiving naturally due to various reasons.

Asia-Pacific IVF Services Market Was Evaluated $1.9 Billion In 2014 And Is Estimated To Garner $3.5 Billion By 2020

Rising infertility rates due to dysfunctional lifestyles, increasing disposable incomes and emergence of Asia as an attractive fertility tourism destinations are the key factors fostering the growth of the market across Asia-Pacific (APAC). 

The IVF market is witnessing significant growth prospects in China, primarily driven by factors such as increasing geriatric population, large number of fertility treatments and increasing number of specialist doctors along with, and active initiatives by the government. 

With fertility tourism gain traction across China, many companies have developed cost-effective IVF techniques and significantly improved IVF services.  Startup companies have launched app to popularize assisted reproductive services across various regions of China. Recently Beijing Albeike Technology Co. Ltd., launched an app for reproductive services in Beijing earlier this year and has since expanded operations in key development regions such as Shenzhen, Shanghai, and Macao. 

The company has also built pregnancy centers in major hospitals thus persuading an increasing number of ART specialists to create the awareness of the app. Using this app, patients can connect with doctors and specialists along with getting valuable information on treatment. 

Major companies are adopting strategies to bring the cost of the IVF treatment down along with creating high health awareness. Governments in emerging economies of APAC region such as Singapore, India, China and Japan are instrumental in offering favorable IVF reimbursement policies. Technological advancements such as utilization of intra-cytoplasmic sperm injection (ICSI) technique and increasing adoption of donor egg IVF methods are further likely to foster the market growth in this region. As per a recent report added by Big Market Research titled “Asia-Pacific In-Vitro Fertilization Services Market - Opportunities and Forecasts, 2014 – 2020”, the market is estimated to generate $3.5 billion by 2020, growing at a CAGR of 10.8% during the forecast period of 2015–2020.

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