Vitrification Market to Gain Huge Traction at a CAGR of 17.7% During the Forecast Period 2022-2028

 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.

Browse through Grand View Research's Biotechnology Industry Research Reports.

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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.

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