According to a research, the Indian IVF market is expected to cross $830 million by 2023.
Indian startups are coming up with business ideas targeting the humans suffering from infertility. The limitation of in vitro fertilization (IVF) services in India is allowing interested entrepreneurs to establish an IVF business, catering to this niche population.
Cocoon Fertility Pvt Ltd, one of India’s leading IVF chain recently expanded its footprints in Kerala after successfully marking its presence in Maharashtra. As Indian business industry still lacks a good quality and premium IVF chain, Cocoon Fertility is emerging as one big IVF brand catching people’s attention.
Evolution of The Indian IVF Market
According to research, the Indian IVF market is expected to cross $830 million by 2023. Indian population includes approximately 28 million infertile couples that require urgent help from such organizations.
Entrepreneurs could consider investing in the IVF business as India shows high infertility prevalence due to factors like late marital age, rising alcohol, and consumption of tobacco.
Sharing her thoughts on expanding nationally, Dr. Anagha Karkhanis, Director, Cocoon Fertility shares, “The journey of Cocoon Fertility has been wonderful till now. We believe that the good work that we do in Maharashtra should also be available to the people of Kerala.
“We look forward in spreading awareness about the IVF treatment which is unfortunately still considered as a taboo in our country. We believe in reaching out to couples facing their silent struggle with infertility,” adds Karkhanis.
Business Opportunity for Private Firms and Investors
Establishing an IVF business is a new segment in the current business market. Thus, private brands and entrepreneurs could be seen investing in the segment, becoming a major brand in this initial phase of this industry existence.
The Indian IVF market is showing growing steadily and has a high potential attracting private equity and venture capital investments e.g. AHH, TPG etc. Stand-alone IVF centers make demographic, financial and operational sense making the business scalable and replicable,” says Dr.Rajalaxmi Walavalkar, Consultant IVF, Cocoon Fertility.
Therefore, if you carry a vision to establish a trendy business, IVF business might prove to be the element, transforming your vision into reality.