Vitrification Industry Overview
The global vitrification market size is expected to reach USD 20.3 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.7% from 2021 to 2027. Several experiments and investigations have been conducted to prove the efficiency of vitrification over slow freezing, leading to its increased clinical implementation. Currently, most IVF clinics are using this method to freeze the eggs/embryos and deliver a higher success rate to patients, thereby driving the market.
Increasing infertility rates have significantly driven the fertility preservation space. Preserving biospecimens has become a common trend among consumers in order to avoid the subsequent consequences of delayed childbearing. Furthermore, increasing awareness of reproductive health has driven the attention of people towards the freezing of biospecimens. This has created commercial opportunities for players such as Vitrolife and IVF Store that are engaged in offering vitrification solutions for fertility preservation.
Vitrification Market Segmentation
Grand View Research has segmented the global vitrification market on the basis of specimen, end-use, region:
Based on the Specimen Insights, the market is segmented into Oocytes, Embryo, and Sperm
- Vitrification-based oocyte freezing accounted for the major revenue share of more than 40% in 2020.
- Embryo and oocyte freezing witnessed tremendous growth over the past years with the introduction of vitrification procedures, as it offers over an 85% success rate.
Based on the End-use Insights, the market is segmented into IVF Clinics and Biobanks
- The IVF clinics segment dominated the vitrification market and accounted for the largest revenue share of 59.0% in 2020 owing to the high usage rate of devices and consumables in these end-use settings.
- The presence of a substantial number of biobanks has facilitated the egg donation process. The banks offer databases of egg donors which further aids informed decision-making by the individuals seeking IVF from donor eggs. This is anticipated to positively accelerate the revenue share of biobanks in the market for vitrification.
Vitrification Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The presence of an extensive distribution network for widespread presence across multiple countries coupled with an extensive product portfolio has contributed to the wide presence of these companies. Companies have collaborated with distribution partners to expand their business footprint. Furthermore, emerging players in the market are trying to expand their geographical reach through mergers, collaborations, and co-marketing.
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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