Indian IVF Market
Set to soar to $3.7 Billion by 2030
IVF treatment in India is a rapidly growing solution for overcoming fertility challenges and fulfilling parenthood dreams. The surge in its popularity is driven by increased awareness, lifestyle choices, and better accessibility. As more individuals and couples explore effective family planning options, IVF becomes a pivotal and accessible choice in the journey to conception.
What is causing the Boost in IVF market?
According to National Institute on Aging, with between 15 and 20 million infertile couples in India, the current adoption rate of IVF stands below 1%, highlighting substantial growth potential for the industry. With a commendable success rate ranging from 60-70 %, the escalating demand for IVF procedures has substantiated a remarkable 20 % CAGR in the Indian fertility market over the past five years. In the realm of assisted reproduction in India, the annual IVF cycles count ranges within 2-2.5 Lakh, with a projected increase to 6 lakhs by 2030 indicating a 2.5 X growth from current scenario.
What’s propelling India’s growth story?
India's unique advantage lies in offering accessible and high-quality medical treatments at an affordable individual cycle cost of Rs. 1 to 3 lakhs, makes it a compelling destination for medical tourism. Innovations such as genetic screening, time-lapse embryo imaging, AI integration, advancements in culture media, embody cutting-edge technology, fostering heightened efficiencies in the IVF sector. The ART Regulation act, 2023 by the government of India establishes clear guidelines for doctors, promoting transparency and patient safety. It introduces limits on embryo transfers (1-2, rarely 3) to prevent multiple births, minimizing risks while enhancing doctor guidance.
What is the current state of the market activity?
IVF market in India, characterized by an oligopoly, a dominant player commands a 17% market share, with several smaller participants. The sector, having secured nearly $1 billion in funding since 2018, is attracting global private equity players seeking controlling stakes, underscoring investor interest fuelled by the industry's robust margins.
Evernile’s outlook remains increased private investor’s engagement in near-term growth and expansion, while anticipating sustained market consolidation in the long term.
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