VITRIFICATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Vitrification Market Size and Trends

The global vitrification market is estimated to be valued at USD 9.30 Bn in 2024 and is expected to reach USD 26.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 16.1% from 2024 to 2031. Growing demand for egg and embryo freezing driven by delayed parenthood and increased incidence of infertility are expected to drive the market growth.

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The global vitrification market is witnessing strong growth on account of rising fertility tourism and the increasing acceptance of egg freezing procedures among women for social, medical, and lifestyle reasons. Technological advancements in oocyte and embryo vitrification techniques along with growing success rates are favoring wider acceptance and boosting demand.

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Insights By Product Type - Advancing Technologies are the Key Growth Driver for Vitrification Solutions

In terms of product type, vitrification solutions segment is expected to contribute the highest market share of 42.1% in 2024 owing to continuous advancements in vitrification technologies. Vitrification involves rapid cooling of cells or tissue to ultra-low temperatures using liquid nitrogen or other cryoprotectants, allowing long-term preservation without formation of ice crystals. Over the years, solutions manufacturers have focused on improving formulations of cryoprotectants to minimize cell toxicity during the freezing-thawing process. Additionally, faster cooling and warming techniques have increased cell viability post-thaw.

Insights By Application - Rising Demand for IVF Cycles is a Prime Driver for Vitrification Equipment

In terms of application, In Vitro Fertilization (IVF) segment is expected to contribute the highest market share of 46.12% in 2024 due to a surge in global demand for various assisted reproductive techniques. Vitrification is becoming the preferred method for cryopreservation of embryos and unfertilized oocytes in IVF cycles. Consequently, healthcare providers are actively procuring advanced vitrification equipment featuring automated temperature control systems, real-time monitoring ability, and closed sample handling mechanisms.

Insights By End User - Focus on Quality Standards and Training is a Phenomenon Shaping Fertility Clinics

In terms of end user, fertility clinics segment is expected to contribute the highest share of the market with 38.1% in 2024 owing to stringent quality control measures and competence development initiatives undertaken by leading providers. Regulatory mandates regarding embryo/gamete handling and storage across major countries have compelled clinics to implement international standards. Adoption of guidelines stipulated by medical bodies helps clinics gain patient confidence and drive procedure volumes. Besides, they frequently organize specialized training and workshops on the latest vitrification techniques for embryologists and nursing staff.

Regional Insights

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Dominating Region: North America

North America dominates the vitrification industry with an estimated share of 38.2% in 2024. The region has a well-established market ecosystem driven by leading healthcare institutions that widely adopt vitrification procedures. Additionally, supportive government policies aid research and development in reproductive medicine. Major players like Merck KGaA in North America have led innovation through continuous investments and new product launches.

Fastest-Growing Region: Asia Pacific

The Asia Pacific region exhibits the fastest growth in the vitrification market. Countries like China and India contribute highly to market expansion due to their large population base and improving access to fertility services. Rising medical tourism alongside growing public awareness about vitrification are encouraging more patients in the region to opt for these procedures.

Vitrification Market Outlook for Key Countries

Innovation and Adoption in the U.S.

The U.S. vitrification market growth is driven by increased adoption of advanced cryopreservation techniques in stem cell research and assisted reproductive technologies (ART). Notably, the U.S. Food and Drug Administration (FDA) approved new vitrification techniques in February 2023, improving success rates in ART. This is in line with the growing demand for IVF procedures, which saw a rise of 8.2% in the U.S. from 2021 to 2022.

Expanding Assisted Reproductive Technology Services in India

The India vitrification industry is expanding due to the rising demand for Assisted Reproductive Technology (ART) services, supported by improvements in healthcare infrastructure. The launch of the National Fertility and In Vitro Fertilization (IVF) Promotion Scheme in January 2024 is expected to significantly increase cryopreservation practices across the country, boosting the market growth.

Government Initiatives for Egg Preservation in Japan

The vitrification market in Japan is projected to grow rapidly at a strong CAGR during the forecast period. In response to the country’s declining birth rate, the Japanese government is implementing targeted initiatives, including financial assistance for women to freeze their eggs. For example, in March 2023, the Tokyo Metropolitan Government announced plans to introduce a subsidy to help cover the costs of egg freezing for healthy women. These initiatives are expected to drive market competition by encouraging wider use of vitrification techniques for egg preservation.

Market Concentration and Competitive Landscape

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Top Strategies Followed by the Global Vitrification Industry Players

• Established Players: Leading companies like Thermo Fisher Scientific and GE Healthcare are heavily investing in research and development to innovate high-performance vitrification products. Thermo Fisher, for instance, launched a next-generation cryopreservation system in August 2023 that enhances cell survival rates in fertility treatments. These advancements are designed to meet growing market demands for more efficient and reliable vitrification technologies.
• Mid-Level Players: To strengthen their market presence, key players are forming strategic alliances. In June 2023, Vitrolife, a leader in reproductive technologies, partnered with Medicover Fertility to expand its product offerings and improve access to advanced vitrification solutions across Europe and Asia Pacific. These partnerships help solidify their footprint and deliver innovative solutions to a broader audience.
• Small-Scale Players: Small players leverage niche specialization to stay competitive. Companies like Origio specialize in vitrification solutions optimized for specific procedures like egg and embryo freezing. They work on refining unique product features to cater to specialized requirements.

Emerging Startups in the Global Vitrification Market

Innovative Technologies: Startups like Vitripure Technologies are pioneering in the development of advanced AI-powered sensors for real-time monitoring of vitrification processes. Vitripure’s launch of its smart vitrification system in February 2023 promises to revolutionize cryopreservation by enabling more precise temperature control and data-driven decision-making in IVF procedures.

Market/Impact: If successful, these innovative technologies could significantly influence market trends and transform standard procedures. The use of AI and advanced sensors may improve outcomes and lower costs.

Sustainable Solutions: Startups like CryoEco are focusing on sustainable solutions for vitrification. In July 2023, CryoEco launched a new range of environment-friendly cryopreservation materials made from recycled plastics. This innovation helps reduce the environmental impact associated with the production and disposal of vitrification products.

Vitrification Industry News

• In July 2024, Legacy, a company specializing in fertility preservation, introduced an upgraded version of its at-home sperm testing and freezing kit. The new kit offers enhanced accuracy, security, and user-friendly features, improving the overall user experience. Legacy's innovative service enables men to conveniently test and preserve their fertility from the comfort of their own homes, making fertility preservation more accessible and reliable.
• In February 2024, Kitazato Corporation, a leading Japan-based manufacturer of fertility and reproductive health products, partnered with IVF 2.0 LTD, software company to integrate AI-driven solutions for improved sperm selection and embryo ranking in IVF procedures. This collaboration aims to enhance the precision and success rates of in-vitro fertilization (IVF) by leveraging advanced technology for better sperm and embryo quality assessment.
• In November 2023, CooperCompanies, a global medical device company, expanded its fertility and women's health product portfolio by acquiring select assets from Cook Medical, a medical device company. This acquisition strengthens CooperCompanies position in the fertility market, enhancing its offerings in reproductive health and IVF treatments.
• In June 2023, Fairtility, a fertility technology company, launched the Oocyte Quality Insights feature called ‘CHLOE OQ.’ This new capability provides valuable oocyte (egg) quality insights for egg donation, egg freezing, and In-vitro fertilization (IVF) procedures, helping patients and embryologists make more informed decisions to optimize fertility treatment outcomes.

Key Takeaways from Analyst

• The global vitrification market is expected to grow significantly over the forecast period owing to rising prevalence of infertility globally. Increasing fertility tourism and rising number of fertility clinics worldwide are some of the major factors expected to drive demand. Furthermore, growing acceptance of vitrification as a superior cryopreservation technique compared to slow freezing is expected to support market growth.
• However, high costs associated with vitrification procedures is expected to hinder market growth to some extent. Moreover, lack of awareness about available fertility treatment options in developing nations may also restrain the market growth in the coming years.
• North America is expected to dominate the global vitrification market during the forecast period. High fertility rates in the region along with a strong presence of key players are some factors contributing to its large share. On the other hand, Asia Pacific is likely to witness fastest growth owing to rising medical tourism coupled with improving healthcare infrastructure in emerging economies.

Market Report Scope

Market Dynamics

Market Driver - Increasing demand for assisted reproductive technologies

The global demand for assisted reproductive technologies has been increasing significantly over the past decade. More and more couples are facing issues with natural conception due to lifestyle changes, increased stress levels, pollution, and other environmental factors. For instance, in October 2021, according to the Centers for Disease Control and Prevention (CDC), approximately 1.9% of all infants born in the U.S. are conceived using Assisted Reproductive Technology (ART), including procedures such as In Vitro Fertilization (IVF).

Market Challenge - High costs associated with vitrification procedures

One of the major challenges faced by the global vitrification market is the high costs associated with vitrification procedures. Vitrification is an expensive process involving sophisticated equipment and freezing at an extremely rapid rate which drives up overall costs. Additionally, the ongoing maintenance and servicing of specialized cryopreservation equipment required for vitrification also contributes significantly to costs. This high cost of treatment acts as a barrier for many patients and prevents the widespread adoption of vitrification techniques.

Market Opportunity - Growing investments in fertility clinics and reproductive health

There is a significant opportunity for growth in the global vitrification market owing to growing investments in fertility clinics and focus on reproductive health. In recent years, private equity investors have been pouring funding into fertility clinic chains, acknowledging it as a profitable sector. The popularity of vitrification is also on the rise as it offers better survival and pregnancy rates compared to slow freezing techniques. 

Key Stakeholders of Market

What does Growth in the Global Vitrification Market mean for Different Stakeholders?

The vitrification industry has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

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Market Segmentation

•  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Vitrification Solutions
  • Vitrification Equipment
  • Other Related Products
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
• • In Vitro Fertilization (IVF)
  • Stem Cell Preservation
  • Other Applications
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Fertility Clinics
  • Hospitals and Diagnostic Centers
  • Research Institutes
  • Biobanks
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
• Key Players Insights
  • Vitrolife AB
  • CooperSurgical, Inc.
  • Merck KGaA
  • Ferring Pharmaceuticals
  • Igenomix
  • Genea Biomedx
  • Cryoport, Inc.
  • Kitazato Corporation
  • ReproTech, LLC
  • Thermo Fisher Scientific
  • EMD Serono
  • OvaScience, Inc.
  • LifeGlobal
  • Medline Industries, Inc.
  • Reproductive Health Technologies