The global in-vitro fertilization market size is expected to reach USD 36.2 billion by 2026
Being a parent is one of the most joyous and exhilarating feelings in the world, but there many couples who are unable to become parents naturally. That’s where In-Vitro Fertilisation (IVF) comes into play, acting as a ray of hope for all those who are having a tough time in conceiving due to various parameters.
With the ever-increasing rate of infertility in India, IVF has become a flourishing business opportunity. The global in-vitro fertilization market size is expected to reach USD 36.2 billion by 2026, forecasting a positive future for an IVF Franchise business. Here are the following reasons why investing in an IVF franchise will reap you huge profits.
One of the major factors contributing towards the growth of IVF franchises in India is the behavioural and lifestyles changes among couples leading to an increased rate of infertility. Rising incidences of infertility as a consequence of increasing maternal age as more women are now starting families later in life is one of the reasons leading to a rise in demand for IVF treatment.
Furthermore, lifestyle induced disorders such as obesity and smoking are contributing to high infertility rates. These factors are thus driving the in-vitro fertilization market, as women and their families prefer the procedure more compared to the other available procedures.
IVF is an expensive procedure and with growing infertility around the world, it has increased the demand for the IVF business in India. People from developed nations travel to a developing economy like India Since the Indian IVF Market offers world-class mechanism with monitored labs under suitable temperatures and best-in-class services at affordable rates. In addition to this, the success rate of IVF procedure in India is as high as 60-65% with the best quality drugs and costs, making it a favourable market for foreigners.
Brand Name & Loyalty
Healthcare is one of those industries where people are not willing to experiment much and trusts an already established brand name. In an IVF procedure, where the success rate is also low, people tend to prefer a well-known brand name with proven results. Thus, IVF franchises are increasing in demand, as couples prefer them more in comparison to startups. IVF franchises have hence become a profitable business opportunity for those seeking to invest in the healthcare industry.
Increase in Demand from Rural Areas
With an increase in literacy level, the taboo and stigma associated with the IVF, surrogacy and related processes have also been eradicated. Especially in rural areas and small towns, where the orthodox and stereotype thoughts have been quite prevalent, the eradication of these has boosted the growth of IVF market. With increased penetration of IVF franchises in rural India, the Indian IVF market is bound to witness a gush in terms of growth in the years to come.