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

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 15% from 2024 to 2031. The global vitrification market is witnessing a steady growth owing to rising demand for assisted reproductive technologies (ART) across the globe. Vitrification is an advanced cooling technique used for cryopreservation of human eggs, embryos, and ovarian tissue during IVF procedures. This process involves extremely rapid cooling of biological samples to glassy solidity without any ice crystal formation, thereby preserving viability. With rising infertility rates, expanding base of medical tourism for fertility treatments, and improving success rates of vitrified IVF cycles compared to conventional slow freezing techniques, the global vitrification market is estimated to grow at a significant pace over the next decade.

Market Dynamics:

The global vitrification market is driven by rising prevalence of infertility worldwide. In April 2023, according to WHO, around 48 million couples globally suffered from infertility issues. Additionally, delaying parenthood, increasing stress levels, obesity, sexually transmitted diseases, and other lifestyle factors are contributing to higher infertility rates. For instance, yn February 2022, according to the National Library of Medicine, 15 European nations provide full or partial coverage of IVF cycles under public health insurance. However, high cost of vitrification procedure, ethical concerns regarding cryopreservation of human tissues, and lack of awareness in developing regions are some of the factors restricting broader adoption of this technology. Moreover, stringent regulations for health facilities providing fertility treatments pose challenges for market players. With ongoing R&D focusing on developing more efficient vitrification solutions, the market is expected to witness lucrative opportunities. Market leaders are investing in technologies such as open versus closed vitrification systems and better cryoprotectants to improve success rates of vitrified cycles. Increasing medical tourism in low-cost countries and rising disposable income in developing nations will further support the demand for ART in the coming years.

Key Features of the Study:

- This report provides in-depth analysis of the global vitrification market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global vitrification market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include 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., and Reproductive Health Technologies

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global vitrification market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vitrification market

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