Vitrification Market: Biobanks Segment Is Expected To Witness Considerable Growth

 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.

  • Tissue Engineering Market - The global tissue engineering market size was computed at USD 9.9 billion in 2019 and is expected to witness a CAGR of 14.2% from 2020 to 2027. The potential of tissue engineering procedures in treating irreversible damage of tissues has boosted the market growth. In addition, a rise in demand for regenerative medicine and tissue engineering procedures to treat damaged tissues further supplements this growth.

 

  • Agricultural Biotechnology Market - The global agricultural biotechnology market size was estimated at USD 89.89 billion in 2018 and is projected to grow at a CAGR of 7.07% during the forecast period. An increase in demand for new breeding techniques is expected to propel the market growth. This is supplemented by increasing penetration of biotechnology tools to create or modify traits of organisms-including plants, animals, and microbes-with respect to color, yield, or size.

 

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.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

 

Comments

Post a Comment

Popular posts from this blog

Behavioral Health Care Software And Services Market Growth Opportunity, Competitive Landscape and Forecast to 2030

  Behavioral Health Care Software And Services Market pr1   Behavioral Health Care Software And Services Industry Overview The global behavioral health care software and services market size was valued at USD 2.9 billion in 2021 and is expected to expand at a CAGR of 12.78% during the forecast period. Government funding, increasing adoption of mental health software, favorable behavioral health reforms in the United States, government initiatives to promote EHR adoption in psychiatry hospitals and facilities, and high demand for mental health services despite provider shortages are major factors contributing to the market growth. The adoption of management software by healthcare providers is likely to improve the treatment of mental wellbeing issues. Also, the adoption of integrated EHRs can help behavioral health practices in effective practice management and cost-saving. Tele-mental health involves coordinating with patients at distant locations via video conferencing. T...
Read more

What Will Be The Post-Pandemic Scenario Of The Magnetic resonance imaging Market?

  Magnetic Resonance Imaging Industry Overview The global magnetic resonance imaging market size was valued at USD 5.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028. Magnetic resonance imaging (MRI) is an efficient diagnostic machine for identifying diseases related to spine lesions, tumors, and stroke impacting the area of blood vessels and brain. The increasing prevalence of these diseases is expected to play an important role in market growth. For instance, as per the American Cancer Society, in 2019, 1,762,450 new cancer cases were recorded in the U.S. In addition to this, the growing demand for quick and effective diagnostic procedures is expected to contribute towards the adoption of MRI machines. Various countries are installing these MRI machines. For instance, as per OECD, in 2017 the number of MRI units installed in the U.S. was 37.6 per million population. Advancements in diagnostic techniques such as open M...
Read more