Rise in medical tourism and public awareness about infertility and availability of treatment expected to drive the growth of In-Vitro Fertilization market in the forecast period, 2024-2028.
According to TechSci Research report, “Vietnam In-Vitro Fertilization – By Region, Forecast and Opportunities, 2018-2028”, Vietnam In-Vitro Fertilization market stood at USD132.43 million in 2022 and is expected to grow at a CAGR of 7.47% during the forecast period. Increasing in the number of fertility clinics and hospitals, is elevating the demand for In-vitro fertilization market. Approximately 50% of infertile couples in Vietnam are under the age of 30. In Southeast Asia, Vietnam has emerged as the country with the highest number of in-vitro fertilization (IVF) cycles and high success rates for assisted pregnancies. Changing lifestyle among people causing obesity and increase in alcohol consumption in females results in bolstering the growth of the In Vitro fertilization market.
However, the high cost of In-Vitro fertilization procedure is expected to slow down the market growth. The price would greatly depend on the condition of the female and the chosen course of therapy. Due to the low likelihood of success and high surgery cost, couples think twice before undergoing therapy. Besides, the lack of awareness about the fertility treatment in the country may hamper the growth of the market in the forecast period.
Browse over 36 market data Figures spread through 107 Pages and an in-depth TOC on “Vietnam In-Vitro Fertilization Market“
Vietnam In-Vitro Fertilization is segmented into technique, product, egg donor, Infertility, embryo, application, end user, region, and company.
Based on technique, the market is divided into Intracytoplasmic Sperm Injection (ICSI IVF) and Non-ICSI/ Traditional IVF. The Intracytoplasmic Sperm Injection (ICSI IVF) `segment dominated the market in 2022 with an overall market share of 66.10%. This is owing to benefits such as a high success rate in In-Vitro Fertilization procedures as a single sperm is injected directly into the egg for the purpose of fertilization. Intra Cytoplasmic Sperm Injection (ICSI) in In-Vitro Fertilization (IVF) fertilizes 50% to 80% of eggs and increases the rate of pregnancies. However, Intra Cytoplasmic Sperm Injection (ICSI) adds to the cost of an In-Vitro Fertilization cycle, making it more expensive than conventional In-Vitro Fertilization which in turn is expected to hamper the growth of the Vietnam In-Vitro Fertilization (IVF) market.
Based on product, Vietnam In-Vitro Fertilization (IVF) market is categorized into five sub-segments such as IVF Culture Media, ICSI Machine, IVF Incubators, Cryo-System, and others. IVF Culture Media segment dominated the Vietnam In-Vitro Fertilization (IVF) market owing to high demand for nutritive media, as this media supports cell growth. They are made up of a basic salt solution and other substances like carbohydrates (pyruvate, lactate, and glucose) and amino acids, which collectively serve as the main energy sources for the growing embryo. Further other segments such as ICSI Machine, IVF Incubators, Cryo-System, and others are expected to support the growth of Vietnam In-Vitro Fertilization (IVF) market.
Based on egg donor, the Vietnam In-Vitro Fertilization (IVF) market is divided into Frozen Non-Donor, Fresh Non-Donor, Frozen Donor, and Fresh Donor. The frozen non-donor segment leads the Vietnam In-Vitro Fertilization (IVF) market with an overall market share of 38.76% in 2022 as it has high success rates. Additionally, it is easier to handle frozen eggs than the fresh ones. The frozen eggs can be implanted as per the convenience of the patient. Additionally, there are no ethical concerns associated with the use of frozen non-donor eggs.
Based on Infertility, the Vietnam In-Vitro Fertilization (IVF) market is divided into Female and Male. The female segment dominated the Vietnam In-Vitro Fertilization (IVF) market with the highest revenue share and CAGR during the forecast period. The factors responsible for the growth of the segment are the high prevalence of poly-cystic ovarian syndrome (PCOS), high levels of thyroid hormone, and ovarian cancer amongst others. Also, delayed marriages and age-related factors are expected to boost the growth of the Vietnam In-Vitro Fertilization (IVF) market.
Based on embryo, the Vietnam In-Vitro Fertilization (IVF) market is bifurcated into a Frozen-Thawed Embryo and Fresh Embryo. The frozen-thawed embryo is projected to hold the largest market share during the forecast period as these embryos can be used immediately and hence, the waiting time with respect to cycle completion of the embryo is not required. Furthermore, the usage of frozen-thawed embryo reduces the incidence of low birth weight, preterm birth, placenta previa, and placental abruption. It is also comparatively less expensive than the fresh embryo and is safer to use in women with high progesterone at the trigger and poly-cystic ovarian syndrome (PCOS).
Based on application, the Vietnam In-Vitro Fertilization (IVF) market can be categorized into Fertility Clinics, Hospitals, and others. The fertility clinics are anticipated to dominate the Vietnam In-Vitro Fertilization (IVF) market with a largest share. This is because fertility clinics are the first preference for patients for availing different kinds of fertility treatments. Additionally, the overall focus on treatment and improvising patient experience is higher as compared to hospitals in the fertility clinics. Besides, growing number of fertility clinics in the country further supports the market growth.
Based on end user, the Vietnam In-Vitro Fertilization (IVF) market is categorized into Locals, Expats and Medical Tourists. The locals dominated the Vietnam In-Vitro Fertilization (IVF) market due to higher infertility rates which is majorly due to polluted and toxic environment as well as the habits of consuming alcohol and drugs amongst the couples of Vietnam. Furthermore, the low-cost of procedures, the presence of skilled professionals and demand for artificial insemination is anticipated to boost from the medical tourism sector thereby driving the growth of the Vietnam In-Vitro Fertilization (IVF) market.
Major companies operating in Israel hydroponics market are:
- Hong Ngoc IVF Center
- Vinmec Central Park International Hospital
- Hoan My Thu Duc International General Hospital
- Saigon International Obstetrics and Gynecology Hospital
- Hanh Phuc International Hospital
- Van Hanh General Hospital
- Vietnam Belgium Andrology and Fertility Hospital
- Hai Phong International Hospital for Obstetrics and Children
- An Sinh hospitals
- IVF Van Hanh
- Phuong Chau International Hospital
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“Vietnam In-Vitro Fertilization Market is expected to witness a significant growth in the upcoming years due to technological advancements happening in the field of In-vitro fertilization procedures. Advances in Frozen Embryo Transfer, In-Vitro Fertilization in Dairy Cow Breeding, Laser Assisted Hatching (LAH), Artificial Intelligence (AI) in In-Vitro Fertilization, among others is expected to create lucrative opportunities for the growth of In vitro fertilization market in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vietnam In-Vitro Fertilization Market By Technique (ICSI IVF v/s Non-ICSI/ Traditional IVF), By Product (IVF Culture Media, ICSI Machine, IVF Incubators, Cryo-system, Others), By Egg Donor (Frozen Non-donor, Fresh Non-donor, Frozen Donor, Fresh Donor), By Infertility (Male v/s Female), By Embryo (Fresh Embryo v/s Frozen-thawed Embryo), By Application (Fertility Clinics, Hospitals, Others), By End User (Locals, Medical Tourists, Expats), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of Vietnam In-Vitro Fertilization and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam In-Vitro Fertilization market.
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