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Oocyte Retrieval Products Market Segmented By Oocyte aspiration pumps, Oocyte aspiration needles, Consumables (Tubing, gel, covers)
Oocyte retrieval also referred to as egg collection. Oocyte retrieval is a procedure wherein viable eggs are removed from the ovaries, for the in-vitro fertilization process. Egg retrieval is an important part of the in-vitro fertilization process, thus, the growth of the IVF procedures is expected to drive the demand for oocyte retrieval products.
Also, the high success rate and continuous technological advancements are some of the factors that have further supported the demand for these products. Factors such as high infertility rates, and initiatives by the government to offer better health insurance coverage for IVF procedures is further expected to boost the demand for oocyte retrieval products.
To capitalize on the growth opportunities in the oocyte retrieval products market, the product manufacturers are focusing on introducing improved products that will provide better precision to the physicians during the procedure which in turn reduces the patients’ pain levels throughout the procedure and offer an effective treatment.
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Growing fertility tourism is one of the key trends attributing to the growth of the oocyte retrieval products market Countries such as Argentina, Spain, Greece, India, Russia, and The Czech Republic have become major destination for fertility tourism.
High success rates of IVF treatments, lower cost of IVF treatments, availability of wider treatment options, shorter waiting times are some of the factors which catch the attention of the aspiring parents to these countries. Also, the growth in the number of IVF clinics in these regions will demand the oocyte retrieval products such as aspiration pumps, aspiration needles, and accessories. Thus, growing fertility tourism is fueling the sales of the oocyte retrieval devices market.
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Get a Customized VersionRise in –infertility rates is one of the important factor that drives the growth of the oocyte retrieval product market. IVF has become one of the most reliable method to conceive among the women. Also, the high success rate of the IVF procedure is one of the important factor which influences the market growth. Along with these, trend in delayed pregnancies, late puberty, certain hereditary factors are responsible to increase in the infertility cases.
As a result of this, demand for the in-vitro-fertilization process is on rise. As oocyte retrieval is the important part of the IVF process, the demand for oocyte retrieval products is expected to grow significantly during the forecast period.
High cost of the oocyte retrieval procedure, lack of awareness (especially in the emerging economies) are some of the key restrains that hinders the market growth. Additionally, the complications associated with the egg retrieval procedure such as infection and pain in the pelvis and the ovaries are expected to create a negative impact on the growth of the egg retrieval market.
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Based on the type of the products, the oocyte retrieval products market has been segmented as
Based on end user, the oocyte retrieval products market has been segmented as
Based on the region, the oocyte retrieval products market has been segmented as
Prominent players operating in the oocyte retrieval market include
Key players operating in this region are aiming to expand their presence in the emerging LATAM markets by pursuing strategic partnerships as one their key growth strategies.
This will help company to expand its product offering to the end users in the Brazilian Market, thereby help them to increase the market share globally.
Apart from the global players, various regional players are also trying to capitalize the opportunities in the international market. These companies are focusing to introduce their products to the emerging East Asian Economies.
Also, in 2019, this device is approved in China for the oocyte aspiration procedures and found to be effective among the physicians. Better Precision, and reduced pain levels throughout the procedures are important factors behind the physician preference.
Asian economies such as India is in favor of regulating IVF services to address the growing problem of infertility among Indian couples. In this regard, in February 2020, the Union –cabinet approved the bill for the regulation of the clinics offering assisted reproductive technology services (ART).
These include procedures such as in-vitro fertilization (IVF), surrogacy, and artificial insemination. Further, The Assisted Reproductive Technology (ART) regulation bill (2020) aims to regulate the bill with intention of providing safe and ethical reproductive procedure to couples having infertility concerns.
As a result of this, the number of clinics requiring oocyte retrieval products is expected to see a rise during the forecast period. Additionally, owing to the high number of ART centers and the number of ART cycles, it has become one of the major hubs for reproductive medical tourism. Also, most of the IVF centers in India provides an easy EMI facility.
This helps patients who have budgetary constraints, to opt for an IVF treatment at a reasonable cost. Thus, untapped emerging Asian economies will open an array of opportunities for the manufacturers offering oocyte retrieval product.
The growing number of women seeking IVF treatment has more than doubled in the United States Further, high infertility rates due to growing stress levels, delayed/late pregnancy due to careers, are some of the factors that make the U.S. a bigger market for oocyte aspiration pumps and needles.
Apart from these, the presence of the leading manufacturers in the U.S is also a key factor influencing the growth of this regional segment Presence of the players leads to the better availability of the products to the fertility & IVF centers, hospitals, gynecology clinics and research institutes which are the major end-users of these products.
China and South Korea show remarkable growth potential as these economies are marked by the presence of various regional players who are consistently investing in research and development to come up with technologically advanced products.
As a result of this, these regional players are receiving approval for use of their products in the international market, thus making them competitive at the global level. Thus, these East Asian economies are poised to grasp a higher market share during the forecast period
The outbreak of the COVID 19 pandemic has led to the holdup of fertility treatments that have affected women psychologically. As IVF is an elective treatment, has been given a second priority. Also, oocyte retrieval being an important part of the IVF process, this segment has also a significant impact and has witness sluggish growth during the past year.
The patient’s treatment schedule has been changed due to which they have to go through emotional dissatisfaction. However, the treatment centers are now being allowed to resume the treatments with a mandate to adhere to the current guidelines issued by the Human Fertilization and Embryo Authority.
It states that, if the patient is infected with the virus, then she will have to wait for 28 days post-recovery to start with the treatment. Now, with the commencement of the vaccination drive, and ease of lockdown, the IVF market is expected to witness considerable growth during the forecast period.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
