The Assisted Reproductive Technology (ART) devices market, consisting of single-use devices in in vitro fertilisation (IVF) and intrauterine insemination (IUI) procedures, has historically experienced several merger and acquisition (M&A) activities. These were mostly led by CooperSurgical, which has acquired several companies, or divisions of companies, such as Research Instruments, The Pipette Company, and notably the Wallace product lines of Smiths Medical International, all in 2016. Two years later, CooperSurgical acquired The LifeGlobal Group, the result of which solidified CooperSurgical as one of the leaders in this market.
Until recently, CooperSurgical’s longstanding competitor within the ART devices market was Cook Medical. Therefore, the announcement earlier this month of CooperSurgical acquiring the Reproductive Health business division of Cook Medical, for $875 million, indicates that CooperSurgical will dominate this market globally for the foreseeable future.
According to GlobalData’s latest market model, the ART devices market is set to grow at a compound annual growth rate of 6%, resulting in a global market value exceeding $440 million by 2030. This is following a highly tumultuous 2020, when IVF device sales temporarily experienced unprecedented losses, because most elective medical procedures were postponed due to the Covid-19 pandemic. However, sales showed a strong recovery in H2 2020, offsetting the initial losses, due to the backlog of procedure volumes and associated device sales.
Shortly after the initial Covid-19 lockdown when policies were relaxed in Q3 2020 across much of the world and elective procedures started resuming, most fertility clinics also resumed operations. Thus, the market for IVF devices rebounded rapidly and experienced a remarkable surge in sales in Q3 2020. In the US, sales trends throughout 2021, and thus far in 2022, indicate a return to pre-pandemic growth levels, and GlobalData forecasts the global market to completely stabilise by mid-2022.
Some of the key drivers of the global market growth in IVF device sales are the increasing number of fertility clinics, an increase in the average age of couples choosing to have children, and an increasing number of women opting to undergo IVF because it improves pregnancy success rates. Emerging technologies will also play a role in drawing more patients, such as time-lapse embryo culture, and artificial intelligence, whereby patient profiles and embryo development are quantitatively assessed to improve pregnancy success rates using the healthiest embryos.