Table of Contents
On July 25, 1978, in Great Britain, the first ‘test-tube’ baby Louise Joy Brown was born and the technology that made her conception possible was acclaimed as a conquest in the field of medicine and science. The definition of IVF or In-Vitro Fertilization technology became the centre of attraction thereafter and started off huge enthusiasm amongst researchers and therapeutic experts. Owing to the same, over the years, numerous IVF clinics started coming up all over the world, with the IVF technology getting more readily accepted in the developed countries due to the fact that the technology originated in the western world and had better technological advancements.
In India, with a steep increase in infertile patients over the past decade, the concept of IVF has gained popularity at a swift pace. Meanwhile, the country is on its track to become one of the powerful nations in the world. And to maintain this, the Indian population is stretching to achieve a lot within a short time-span that’s resulting in delayed pregnancies, altered lifestyles, and changing preferences. The factors thus mentioned are the key reasons for a burgeoning infertility rate in the country which is alarming. According to RNCOS’ report “Indian IVF Market Outlook 2020”, the Indian IVF market is poised to witness impressive CAGR of around 15% from 2014 to 2020.
The report offers a detailed study of the overall IVF industry in India. It analyzes the region-wise presence of IVF clinics in the country i.e. their penetration across East/West/North/South India; their structure i.e. chain, independent and hospital-based; the number of IVF cycles performed; the availability of PGD facility; major drugs and hormones used and/or prescribed in the procedure; and infertile patients flow to IVF clinics. The market outlook section in the report descriptively discusses the Indian IVF market till 2020 and its regional shares.
The report explains the requirements of an initial IVF lab setup in connection with human resources, facilities, and ongoing trends and recent developments in the industry. Also, given the industry’s regulatory environment being crucial in nature, the same has been explained in detail. On the competitive landscape, the profiles of leading service providers too have been presented and explained in detail.
Moreover, banked on remarkable boom in the Indian medical tourism and inflated infertile domestic population, many new service providers are cashing in by increasing collaborations with chains/independent clinics, renowned healthcare providers and hospitals. As a result, many IVF centres can be seen growing even in Tier II and Tier III cities in the country. The medical advancements to reduce health related risks have fuelled rapid acceptance of the IVF technology to deal with reproduction problems. Thus, with these factors put together, the Indian IVF market is bound to witness a gush in its growth in the years to come.
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