U.S. Vitrification Market Analysis

U.S. Vitrification Market Analysis

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Based on the product type, the market is classified into devices, kits, and reagents & consumables. The devices segment dominated the market with a revenue of USD 1.5 billion in 2023.

• The dominance of the vitrification devices segment in the U.S. market is attributed to its pivotal role in rapidly freezing biological specimens for preservation. Vitrification devices are essential for maintaining the viability of embryos, oocytes, and sperm during storage for ART and other biomedical applications.

   

• In addition, the increasing demand for advanced fertility treatments coupled with expanding applications in biobanking and regenerative medicine propels the growth.

   

• Furthermore, the technological advancements improving success rates in ART procedures further bolster the adoption of vitrification devices, underscoring their critical position in the market.

Based on the specimen, the U.S. vitrification market is classified into embryos, oocytes, and sperms. The oocytes segment dominated the market with a market share of 48.6% in 2023.

• Oocytes, or eggs are crucial biological specimens used in IVF and egg-freezing procedures, which are increasingly sought after by individuals and couples facing infertility challenges. Thus, the segment's dominance reflects the rising awareness and acceptance of these technologies, driven by factors such as delayed childbearing and increasing infertility rates.

   

• Furthermore, the sperms segment is projected to witness the fastest CAGR of 9.9% driven by advancements in 3D printing that are set to revolutionize freezing device manufacturing. For instance, an MDPI article from August 2021 showcased a 3D-printed vitrification device for Cryo-Vials (VDCV), designed for handling small sperm volumes. This signified the increasing sophistication and awareness surrounding sperm freezing, thereby positioning the segment for substantial growth within the market.

   

Based on the end-user, the U.S. vitrification market is classified into in vitro fertilization clinics and biobanks. The in vitro fertilization clinics segment dominated the market with the highest market share in 2023 with a CAGR of 9.5%.

• IVF clinics have solidified their dominance due to escalating demand for ART services, spurred by rising infertility rates and advancements in reproductive medicine. Also, growth drivers include increasing infertility rates, delayed parenthood, and greater acceptance of fertility treatments signifying IVF growth in recent years.

   

• Further, advances such as preimplantation genetic testing and egg freezing have further fuelled market expansion.

In 2023, the Northeast zone held the highest market revenue in the U.S. vitrification market and is expected to dominate with a CAGR of 9.2% throughout the forecast period.

• The Northeast zone, particularly states such as New York, Massachusetts, Pennsylvania, and New Jersey has a significant presence of advanced medical facilities and research centers focused on reproductive health. This concentration fosters a robust demand for advanced fertility preservation technologies.

   

• In addition, the Northeast region is home to numerous biotech companies and leading academic institutions that contribute to the development and advancement of vitrification technologies, thereby expanding the growth.

   

• Furthermore, the supportive regulatory framework for fertility treatments and ART encourages the adoption of vitrification techniques, thereby strengthening the position in the competitive landscape.

   

New York state held a substantial market size of USD 223 million in 2023.

• The state’s prominence in the market is highlighted by its concentration of leading medical institutions, fertility clinics, and innovative biotech companies. Also, the state's supportive regulatory environment, reimbursement policies, and robust healthcare infrastructure further bolster its position, attracting a high volume of patients seeking advanced reproductive services.

   

• For instance, The NYS Department of Health supports high-volume infertility service providers such as Genesis Fertility & Reproductive Medicine and Reproductive Medicine Associates of New York (RMA of NY) through the Infertility Demonstration Program (IRP). The services include up to two complete IVF cycles per patient, encompassing medications, monitoring, lab tests, egg retrieval, fertilization, ICSI, and embryo transfer. The program's current term is from October 1, 2022, to September 30, 2024, subject to state funding availability for continuation. Therefore, favorable reimbursement policies aim to provide supportive treatment options, thereby expanding the U.S. market.