Vitrification Market Expected to Show a Significant Growth During the Forecast Period 2022 – 2028

Posted on 2022-09-28 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Sept 28, 2022 — /EPR Network/ —

Vitrification Industry Overview

The global vitrification market size was valued at USD 6.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.7% from 2021 to 2027.

Expansions in fertility preservation techniques have prompted the development of vitrification. This new technique offers solutions for the preservation of specimens that not only reduce the preservation time but also minimizes the exposure to cryoprotectants. This has spurred the adoption of vitrification devices leading to lucrative revenue growth of the market.

This area is considered a booming business in reproductive and women’s health domains and is expected to grow at a double-digit rate. Delayed childbearing due to sociodemographic factors, including education/career goals, the growing impact of women’s empowerment movements, financial barriers, and lack of a partner is one of the key driving factors of the market. This rising trend of delaying parenthood/childbearing has created commercial opportunities for companies, such as Dadi, Kindbody, Legacy, and others, to offer cost-effective preservation services. Key startups are introducing value-added services such as home services, tapping more customers to opt for fertility preservation. Such offerings are anticipated to positively influence the uptake of vitrification services.

Gather more insights about the market drivers, restrains and growth of the Global Vitrification market

In addition, legal acceptance of same-sex marriage and an increase in single parenthood in several countries have increased the demand for the preservation of eggs and sperms, resulting in increased demand for vitrification services. Furthermore, companies such as Facebook, Apple, and Google are offering policies to cover the costs of egg freezing. The confluence of these factors is expected to drive the market for vitrification. The rising cancer incidence has also resulted in increased infertility prevalence. Considering oncological mutations, people with a greater chance of developing cancer are advised to seek egg preservation treatment for future use. This is because cancer treatment drugs can hamper fertility temporarily or permanently. Cancer therapists/oncologists are suggesting fertility preservation before starting with treatments such as chemotherapy, radiation therapy, or surgery to increase the chances of fertility in the future, thereby driving the adoption of vitrification services and products.

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Vitrification Market Segmentation

Grand View Research has segmented the global vitrification market on the basis of specimen, end-use, region:

Vitrification Specimen Outlook (Revenue, USD Million, 2016 – 2027)

Oocytes
Embryo
Sperm

Vitrification End-use Outlook (Revenue, USD Million, 2016 – 2027)

IVF Clinics
Biobanks

Vitrification Regional Outlook (Revenue, USD Million, 2016 – 2027)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Vitrification market include

Vitrolife
IVF Store LLC
Frozen Cell
Cook Medical Inc
Minitube
IMV Technologies
Coopersurgical Fertility And Genomic Solutions
Fujifilm Irvine Scientific
Biotech Inc.
Kitazato Corporation

Order a free sample PDF of the Vitrification Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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