IVF Industry Growth In India
India is witnessing an increasing burden of infertility. The country has reportedly around 30 million couples in the reproductive age struggling with lifetime infertility. Only 1 per cent step forward towards ART procedures due to lack of awareness, treatment transparency and mostly affordability. According to research studies, over 9 million babies have been born through IVF treatment worldwide. Research shows that the some of the prominent contributors of infertility are clinical factors, racial and ethnicity factors, longer median age for family planning, sedentary lifestyle, etc.
With the availability of over 1750 IVF clinics and hospitals, India does an average of 250,000 cycles a year. In order to meet the demand of infertility related issues, India needs to perform approximately 6,00,000 cycles. The top cities aggressively performing IVF cycles are Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad and Pune. This clearly signifies that only metropolitan cities have awareness related to fertility related concerns; rest of the country still lacks the required awareness.
This creates an opportunity for the growth of the IVF market in the country. The Indian IVF industry is a potential USD 1.2 billion market that is expanding at a steady CAGR of 20 per cent Year on Year (YoY) from current numbers.
Increase in infertility rates, which are driven by stress levels, changes in lifestyle, external factors such as pollution and the frequency of fertility-related disorders, are expected to drive significant growth in the IVF industry in India. Lot of quick lifestyle changes that may have an impact on fertility, such as delaying childbearing, marrying later in life, smoking, pollution and alcohol consumption are few of the concerns with regard to infertility. The couples who mostly seek treatment are between the ages of 28 and 40 and they are having difficulty in conceiving due to these circumstances. Age is a crucial factor in fertility; the older you get, the more likely you are to experience infertility and the problems that come with it.
This is why notion of egg freezing, which basically implies that if you're a working female or male who wants to focus on your professional life, studies, or job before starting a family, you can freeze your egg, sperms and embryos early in life, came into existence. Eggs, sperms and embryos can be stored in accordance with Government regulations.
The poor knowledge of technology is another reason limiting the growth of the IVF market in India. A major interruption that prevents aspiring couples from considering IVF is their misconception on the cost-effectiveness of the service. The issue of cost-effectiveness is perceived and not real as India provides with the lowest IVF cost with global-at-par treatment. At the prevailing fees of USD 2000 to 2500 USD per cycle, the treatment is available and viable even for middle class demographic.
Doctors have expressed concern about the hush around infertility. Infertility is still not recognized a medical condition and the number of infertile couples is not accurately documented. Because of improvements in the IVF industry, a variety of infertility treatments are now available to practically everyone.
What needs to be done on priority is that the stigma about infertility needs to be addressed by regulators and the Government. This will help various couples who want to seek infertility treatment but are hesitant due to social pressures.
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