Analysis of IVF services market in India with update
The relevance of research
The birth rate in India is much less than what is needed for simple reproduction of the population. An important medical component of solving this problem is overcoming infertility. According to statistics, the proportion of infertile marriages in India does not tend to decrease, and the deterioration in the reproductive health of the population contributes to an increase in demand for IVF services. IVF is the most famous method of artificial insemination
Purpose of the study
Analysis of the state of the IVF services market, assessment of the market size, analysis of competitors, as well as identification of factors affecting the IVF services market
Content
Part 1. Overview of the Indian IVF (in vitro fertilization) market
1.1. Definition and Characteristics of the Indian IVF (In Vitro Fertilization) Market
1.2. Dynamics of the volume of the Indian IVF (in vitro fertilization) services market, 2015-2019
1.3. Market structure by type of service provided in India
1.4. The structure of the IVF (in vitro fertilization) services market in the Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity
Part 2. Competitive Analysis in the IVF (In Vitro Fertilization) Market in India
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of the consumption of IVF (in vitro fertilization) services
3.1. Estimated consumption of IVF (in vitro fertilization) services per capita
3.2. Market Saturation and Estimated Market Potential in India
3.3. Description of consumer preferences
3.4. Price analysis
Part 4. Assessment of factors of investment attractiveness of the market
Part 5. Market forecast for IVF (in vitro fertilization) services until 2024
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
Research excerpt
Part 1. Overview of the Indian IVF (in vitro fertilization) market
1.1. Definition and Characteristics of the Indian IVF (In Vitro Fertilization) Market
In vitro fertilization (from lat. extra - outside, outside and lat. corpus - body, that is, fertilization outside the body, abbr. ECO) - assisted reproductive technology (ART), most often ...
For the first time, this medical technology was successfully applied in…
IVF is the most well-known artificial insemination method. In addition to IVF itself, reproductive medicine uses the following methods: ...
Often, during IVF, it may be necessary to use a different variety ...
Let us dwell in more detail on the indications and contraindications of in vitro fertilization.
Contraindications for IVF are: ...
The main stages of IVF, distinguished by clinics: ...
Depending on the indications of each specific case, doctors can choose one of several standard IVF protocols. The IVF protocol hereinafter in the study refers to ...
IVF protocols are different. From the correct choice of the IVF protocol depends ...
Accounting for IVF-related manipulations and reporting forms is regulated by the Order of the Ministry of Health of India ...
The main (typical) types of IVF protocols as of 2020 are:
Long IVF protocol
...
Short protocol IVF
...
Japanese way
...
Cryoprotocol
This IVF method is based on…
In India, the formation of the IVF services market took place 10-15 years later due to …
Additional state support is currently being provided…
According to a preliminary assessment of the results of 2019, the birth rate in India continues to …
It should be noted that in India, as of June 2016, the level of infertile couples of reproductive age by …% exceeded …
According to the Ministry of Health, only for the period from 2014 to 2017, the number of registered patients diagnosed with infertility among the female population …% …
The proportion of children born using in vitro fertilization in the total number of newborns is still …%.
In India, there is an unmet demand for IVF services related to…
1.2. Dynamics of the volume of the Indian IVF (in vitro fertilization) services market, 2015-2019
Consider the volume dynamics of the IVF market in India. The main source of data in this case are ...
According to experts…
This information…
Thus, we note that the assessment of the market volume is difficult due to the following factors:
- Official reports...
- Periodically...
The share of centers that do not provide data on their work to the Register over the years of observation varies within …%, the share of data inaccessible to analysis … and ranges from …%. Obviously, such a ""lack"" of information ...
The dynamics of IVF protocols performed in India (on which RAHR was able to collect data) from 2012 to 2019 is shown in the chart below:
As follows from the above data, the dynamics of IVF protocols performed in India as a whole, with the exception of ..., was characterized by ... a trend. According to the planned indicator for 2019, the number of IVF protocols performed in India should have amounted to about … thousand units, which is by …% … the same indicator of the previous year and more than …% … the level of 2015. The general trend allows us to take into account the factor ...
The dynamics of the volume of the IVF services market in India in the period from 2012 to 2019 in value terms is shown in the diagram below:
It should be noted that the total market capacity in value terms takes into account …
During 2012-2019, the market volume in monetary terms … except for …% in … year. According to the preliminary results of 2019, the volume of the IVF services market in India in monetary terms amounted to … billion Rs., … the level of 2018 by …%, the increase in the market compared to 2015 was ...
The growth of the IVF market in terms of value is due to both … and …, as well as …
The chart below shows the dynamics of IVF protocols performed per capita in India.
Diagram 4. Dynamics of IVF protocols performed per capita in India, 2012-2019 (plan), cycles/million people
As follows from the above data, the dynamics, with the exception of 2018, is characterized by ... a trend. According to the planned data for 2019, the number of IVF protocols performed in India amounted to … per 1 million people, which is …% … of the same indicator of the previous year.
The chart below shows statistics for the metropolitan area for comparison:
...
Analysis of foreign markets
...
On average, about ... IVF cycles are performed in Europe per 1 million people. At the same time, according to experts …, the need for ART is about … cycles per 1 million people. In Denmark, this figure...
1.3. Market structure by type of service provided in India
The share ratio of service types is as follows:
In 2019, the share of IVF in Indian centers was …% of all ART cycles, the share of ICSI was …%; mixed method of fertilization ...
1.4. The structure of the IVF (in vitro fertilization) services market in the Union Territories
The structure of the service market by union territories was calculated by GidMarket in value terms according to data on …
Diagram 7. The structure of the provision of IVF (in vitro fertilization) services in India by Union Territories in 2015-2019,%
Traditionally, the leaders in the provision of in vitro fertilization services are … Union Territories and … Union Territories: the share of Union Territories ranges from …% to …%, and …Union Territories – from …% to …%. It should be noted that over the indicated period since 2012, the share of … in the Union Territories as a whole has decreased by …%, the share of … in the Union Territories either grows or decreases. The market shares occupied by ... in the overall structure are explained by the concentration in these districts ...
Nevertheless, over the period the share of … Union Territories increased from …% to …%, …
The share of … Union Territories decreased despite the growth of …
1.5. Assessment of current trends and development prospects of the studied market
As of the beginning of 2020, the IVF market in India is… saturation limits. The share of IVF in Indian clinics at the end of 2019 amounted to …% of the total volume of reproductive services performed by clinics.
Geographically, the concentration of services is…
In the IVF market, the current demand for IVF services is…supply.
Thus, the key trends in the IVF services market in India are as follows:
...
The market prospects for IVF services in India are as follows:
...
The limits of market growth are determined by the rate of change ... Despite active state support, the demographic situation ...
1.6. Assessment of factors affecting the market
Macroeconomic factors influence the dynamics of all sectors of the Indian economy, including the IVF market. The main groups of factors are: economic, political, social and technological.
Economic
GDP (gross domestic product) is used to determine the rate of economic development of any state. GDP is a macroeconomic indicator that reflects...
Chart 8 shows India's GDP growth rate from 2017 to 2019 at comparable prices (at 2016 prices).
The impact of the crisis that began in 2008 led to a decline in GDP by 7,8% in 2009, but then the growth rate was ...
Further, until 2014, the growth rate was …
In 2016, GDP …, at the end of 2017, this indicator shows …
According to the review ... At the end of 2019, the GDP index amounted to …%.
Under the circumstances that currently (April-May 2020) negatively affect the size of GDP in the short and medium term, we indicate the opinions of experts.
...
According to expectations … in 2020 the global economy will experience the deepest recession since the Great Depression of 1929-1933, the decline in world GDP will be …%. According to the forecast...
Regarding India, experts predict a difficult and unpredictable period. Firstly Secondly, …
Chart 9. Expert forecasts for a decline in real GDP in India in 2020 (baseline/neutral scenario), %
On April 26, Alesei Kudrin slightly corrected his forecast: he stated that ...
Thus, experts disagree significantly about the real dynamics of India's GDP in 2020: a decrease by …% is forecasted. Ministry of Economic Development …
Currently, the factor of the decline in GDP in 2020 has … an impact on the considered IVF services industry.
...
Demographic (social)
...
technological
...
Political
...
We combine all these factors in the form of a STEP analysis.
Table 6. STEP analysis of factors influencing the IVF (in vitro fertilization) market
According to the results of the performed STEP-analysis, macro-environment factors have a greater influence on the IVF services market. Economic factors have … influence. The remaining groups of factors considered have an impact on the development of the market.
Holding back market development in 2020: …
The positive impact on the market is...
...
1.7. Analysis of sectoral indicators of financial and economic activity
Important data for analyzing the state of the industry is the dynamics of such indicators as profitability, liquidity, and business activity. Industry indicators calculated by GidMarket based on …
The table shows the dynamics of the gross profit margin (the ratio of gross profit to income).
During the period under review from 2015 to 2019, the dynamics of the gross margin indicator in the IVF services industry had … character - ... Gross margin fluctuated from …% to …%. When compared with the indicator for all sectors of the Indian economy, the deviations in the profitability of IVF services were ...
The profitability of profit before tax in the IVF services industry fluctuated in the period under review from … to …%. At the same time, it was ... an indicator for all sectors of the Indian economy.
Consider liquidity indicators in the IVF services industry. The indicator of current liquidity is a measure of the solvency of the organization, the ability to repay the current (up to a year) obligations of the organization.
The estimated indicator of current liquidity of a normally operating solvent legal entity should not be ...
In 2015, the indicator did not correspond to …, then from 2016 to 2019, the annual value of current liquidity is more than …
A more stringent liquidity criterion is the absolute liquidity ratio. It shows which part...
Table 8 shows the dynamics of this coefficient.
During the period under review, the indicator for all sectors of the Indian economy did not fall below ..., which indicates ... In the IVF services sector, this indicator was almost ...
Business activity is the ability of an enterprise, based on the results of its economic activity, to occupy ...
Consider the dynamics of the average turnover of receivables in the IVF services industry in India.
The dynamics of the average turnover period of receivables in the period from 2015 to 2019 had … character, the maximum was observed in … year – … days. days Compared to 2015, the indicator of … in 2018 is more than …
The stability of the financial position of the enterprise is impossible without effective management of working capital, based on the identification of significant factors and measures to provide the enterprise with its own working capital.
The equity ratio characterizes ...
Diagram 20. Financial stability (security of own working capital) in the IVF (in vitro fertilization) services sector, in comparison with all sectors of the Indian economy, 2015-2019, %
The final working capital ratio for all sectors of the economy in India in 2016-2019 shows a trend towards … The indicator for the considered sector of IVF services was … the normative value …% during the entire period, but did not exceed …
Thus, the profitability indicators in the IVF services industry and the indicator of absolute liquidity ...
Part 2. Competitive Analysis in the IVF (In Vitro Fertilization) Market in India
2.1. Major players in the market
The market for in vitro fertilization services in India has not yet reached …
The leading market leader is a major…
Also on the market are widely represented specialized …
2.2. Market shares of the largest competitors
Diagram 21. Shares of the largest competitors in the IVF (in vitro fertilization) market in 2019
At the end of 2019, the largest player in the IVF services market in India is …, occupying …% of the market.
The second place is occupied by …, whose share is …%. On the third - …
The Herfindahl-Hirschman index for the considered market is …, the market is …concentrated.
2.3. Profiles of major players
GC ""...""
...
The total number of IVF cycles for 12 months of 2019 in the Group increased by …% compared to 2018 and amounted to … cycles. Slower growth in Q4 2019…
The clinic is one of the leaders in...
...
The dynamics of the indicator of total revenue for the leading companies of the market is ... - indicator annually ... The average growth rate is ...% annually.
Part 3. Analysis of the consumption of IVF (in vitro fertilization) services
3.1. Estimated consumption of IVF (in vitro fertilization) services per capita
...
3.2. Market Saturation and Estimated Market Potential in India
...
3.3. Description of consumer preferences
Consumer preferences were analyzed by GidMarket based on patient reviews of various clinics providing IVF services.
As shown in the diagram, the criterion ... is paramount (... points). It is important for consumers that doctors and nurses …
The second place in importance belongs to another criterion ... (... points). Patients need…
The rest of the factors, although consumers name, but ...
Fourth place in the ranking was taken by ... factor. Consumers ... (... points).
Less important criteria for choosing an IVF clinic (but which are mentioned by consumers of such services) include …
Diagram 24. The importance of criteria for choosing a clinic for IVF by consumers, points
3.4. Price analysis
During the entire period, prices for IVF services … – CPI annually exceeded …%. Over the indicated period, the largest price increase occurred in … year, the growth rate was …%, which was partly due to …
In general, the growth in prices for IVF services most often exceeds the growth rate ...
The pricing policy in the field of IVF in most large companies takes into account ...
The cost of the service has a significant relationship with ...
Most commercial clinics offer various programs in order to increase customer loyalty and receive positive reviews…
It should be noted that the cost of the IVF protocol directly depends on ...
In general, we can say that IVF prices vary by districts… – the minimum differs by … thousand Rs., and the maximum by … thousand Rs. for 1 procedure.
Part 4. Assessment of factors of investment attractiveness of the market
… factors of the investment climate of the market dominate over ... A comprehensive assessment of the factors of investment attractiveness is ... points - ... the investment climate. This means that within the industry in question…
The most significant positive factors. …
The most significant negative factors. …
Part 5. Market forecast for IVF (in vitro fertilization) services until 2024
...
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
...
Diagrams
Figure 1. Comparative analysis of the normal size of a woman's ovary and the hyperstimulated ovary.
Diagram 2. Dynamics of IVF protocols performed in India, 2012-2019 (plan), units
Diagram 3. Dynamics of IVF services market volume in India, 2012-2019 (plan), billion Rs.
Diagram 4. Dynamics of IVF protocols performed per capita in India, 2012-2019 (plan), cycles/million people
Diagram 5. Dynamics of IVF protocols performed per capita, 2014-2019, cycles/million people
Diagram 6. Structure of the IVF services market by type (structure of ART cycles), 2019, %
Diagram 7. The structure of the provision of IVF (in vitro fertilization) services in India by Union Territories in 2015-2019,%
Diagram 8. Dynamics of India's GDP, 2007-2019, % to the previous year
Chart 9. Expert forecasts for a decline in real GDP in India in 2020 (baseline/neutral scenario), %
Chart 10. Monthly dynamics of the US dollar against the rupee, 2015-2020 (Jan-Apr.), Rs. for 1 US dollar
Diagram 11. Dynamics of real incomes of the population of India, 2011 - 2019, % to the previous year
Diagram 12. Population dynamics in India as of January 1, 2010-2020, million people, %
Diagram 13. Population forecast in India for the period 2021-2024, million people
Chart 14. Birth rate dynamics in India, 2014-2019 (preliminary), 2020-2024 (forecast for 3 options), pers. per 1000 people population
Chart 15. Internet penetration dynamics in India, 2008-2019, %
Chart 16. Dynamics of the average interest rate on loans, 2014-2020 (Jan-Feb.), %
Diagram 17. Profitability of profit before tax (profit of the reporting period) in the IVF (in vitro fertilization) services sector in comparison with all sectors of the Indian economy, 2015-2019, %
Diagram 18. Current liquidity (total coverage) in the IVF (in vitro fertilization) services sector for 2015-2019, times
Diagram 19. Business activity (average period of receivables turnover) in the IVF (in vitro fertilization) services sector, for 2015-2019, days days
Diagram 20. Financial stability (security of own working capital) in the IVF (in vitro fertilization) services sector, in comparison with all sectors of the Indian economy, 2015-2019, %
Diagram 21. Shares of the largest competitors in the IVF (in vitro fertilization) market in 2019
Diagram 22. Dynamics of the total revenue of the largest operators of the IVF (in vitro fertilization) services market (TOP-5) in India, 2015-2019, billion Rs.
Diagram 23. Consumption of IVF (in vitro fertilization) services per capita, 2015-2019, Rs./person
Diagram 24. The importance of criteria for choosing a clinic for IVF by consumers, points
Diagram 25. Dynamics of the number of IVF cycles in 2005-2019, thousand units
Diagram 26. Forecast of the volume of the IVF (in vitro fertilization) market in 2020-2024
Tables
Table 1. Indicators of the IVF market in India in 2009-2019, units rev.
Table 2. Expert forecasts for a decline in real GDP in India in 2020 (baseline/neutral scenario), %
Table 3. Average producer prices for electricity in India at the end of the period in 2017-2019, rupees per unit of measurement, CPI for electricity supply services, %
Table 4. Urban and rural population in India in 2014-2019, million people, %
Table 5. Weighted average interest rates of credit institutions on lending operations in rupees, excluding PJSC Sberbank (% per annum), 2015-2020 (Jan-Feb)
Table 6. STEP analysis of factors influencing the IVF (in vitro fertilization) market
Table 7. Gross margin of the IVF (in vitro fertilization) service industry in comparison with all sectors of the Indian economy, 2015-2019, %
Table 8. Absolute liquidity in the IVF (in vitro fertilization) services sector in comparison with all sectors of the Indian economy, 2015-2019, times
Table 9. Main companies participating in the IVF (in vitro fertilization) market in 2019
Table 10. Key performance indicators of “…” in the field of obstetrics and IVF, 2013-2019
Table 11. Basic information about the participant No. 1 of the IVF services market (in vitro fertilization)
Table 12. Basic information about the participant No. 2 of the IVF services market (in vitro fertilization)
Table 13. Basic information about the participant No. 3 of the IVF services market (in vitro fertilization)
Table 14. Basic information about the participant No. 4 of the IVF services market (in vitro fertilization)
Table 15. Basic information about the participant No. 5 of the IVF services market (in vitro fertilization)
Table 16. Consumer price indices in the IVF (in vitro fertilization) market for India in 2015-2020 (Jan.-Mar.), %
Table 17. Average prices on the IVF (in vitro fertilization) market in the Union Territories in 2019, thousand Rs. taking into account medicines
Table 18. Assessment of factors of investment attractiveness of the IVF (in vitro fertilization) services market
All reports