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Vitrification Market Size

  • Report ID: GMI10188
  • Published Date: Jul 2024
  • Report Format: PDF

Vitrification Market Size

Vitrification Market size was valued at USD 7.9 billion in 2023, growing at a CAGR of 10.1% between 2024 and 2032. Vitrification is a rapid freezing technique used in cryopreservation to convert a liquid into a glass-like solid without the formation of ice crystals. This method is particularly valuable in preserving biological specimens such as embryos, oocytes, and stem cells, as it minimizes cellular damage during the freezing and thawing processes.

 

Vitrification Market
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Further, vitrification maintains the integrity and viability of the preserved materials, making it a preferred technique in fields such as reproductive medicine and biotechnology. The market is experiencing dynamic growth driven by increasing demand for advanced cryopreservation techniques in fertility treatments. The WHO estimates that 60 to 80 million couples globally experience infertility. Southern and Eastern Europe, along with East Asia, have some of the lowest fertility rates, averaging 1.5 children per woman. Similarly, it is observed that the use of assisted reproductive technology (ART) has grown by 5% to 10% annually.
 

This rise in ART has led to increased demand for fertility treatments, thereby boosting the need for in vitro fertilization (IVF) services. Thus, the rising demand for infertility treatments strengthens the need for the vitrification method, thereby driving market growth. Additionally, the growing focus on biobanking and regenerative medicine further fuels market expansion, as vitrification is crucial for the long-term storage of biological specimens.
 

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global vitrification market was valued at USD 7.9 billion in 2023 and will grow at 10.1% CAGR during 2024-2032, driven by increasing demand for advanced cryopreservation techniques in fertility treatments.

The vitrification devices market reached a revenue of USD 3.7 billion in 2023 and will expand rapidly by 2032, as their precision and automation capabilities ensure consistent and reliable outcomes, which are crucial in fields like ART and biobanking.

U.S. vitrification market size was USD 3.4 billion in 2023 and will expand through 2032, owing to high infertility rate in the country along with the widespread adoption of ART technology.

Biotech, Inc., CooperSurgical Fertility Company, FERTIPRO NV, FUJIFILM Irvine Scientific, Genea BIOMEDX, IMV Technologies Group (Cryo Bio System), Kitazato Corporation, MFC Global, MINITÜB GMBH, NidaCon International AB, Optimas, Shenzhen VitaVitro Biotech, and Vitrolife among others.

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 242
  • Countries covered: 22
  • Pages: 120
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