According to a new report of Allied Market Research (AMR), the in vitro fertilisation (IVF) services market in India is projected to reach $ 775.9 million by 2022. Read on...
According to the Government of India’s Medical Tourism Department, cost of IVF treatment for infertility in India is one-fourth as compared to the developed countries, which is one of the reasons why India has become one of the most sought-after medical tourism destinations.
According to a new report of Allied Market Research (AMR), the in vitro fertilisation (IVF) services market in India is projected to reach $ 775.9 million by 2022, registering a CAGR of 16.6 percent from 2016 to 2022.
This is providing scope for the businesses, like Janam fertility centre to grow in India. Janam fertility centre is an infertility treatment centre, which offers consultation and provides check up to childless couples since 2015.
Need for IVF Industry:
As per the Indian Society of Assisted Reproduction estimates, the infertility cases have increased to about 30 million couples in India. The market for IVF services in India is growing, due to rise in the number of married couples suffering from infertility, owing to urbanisation, pollution, stress, and lifestyle patterns.
In conversation with FranchiseIndia.com, Varun Vijayan, Director-strategy, Janam fertility centre, states that “We have a very different approach as far as the industry is concerned, especially it is a stealth technology which is very upcoming and generally the demand is very less. For the matter, the knowledge is there but people won’t come out because of societal taboo. So, the very existence of the industry is based on the word of mouth.”
He shares, “With Janam, we have around 2 decades of medical experience in the industry, Medical Director, Dr. Geeta Digra is a veteran in this industry she has a lot of fuss in her name. We plan to expand pan India, but with a very different mindset altogether.”
Franchise Models it Offers:
When asked about the franchise models, Janam fertility centre has planned to offer, Vijayan says, “It’s not only about the franchise; we feel that every franchise has no idea about it. So first, we are looking for people who have that sort of a mindset from a very long-term investment point of view.”
He further adds, “Secondly, we only go for a company-operated model as we do not have our own franchise operated model as the industry is very technical and we have the skill set to basically operate. The third model is we are already in talks with many venture capitalists and once there is an ideal synergy with them we will be raising terms. There are 3 queries already from Guwahati, Jalgaon, Kerala and we are also working towards medical tourism aspect. So, a lot is going on.”
He reveals his expansion plans as, “We started off in 2015 and today we feel it’s a good time to expand because of the leverage or the customer base that doctors have across India.”