Forecast for the development of the IVF services market in India
The relevance of research
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 used in case of infertility
Purpose of the study
Analysis of the state of the IVF services market in India, assessment of the market size, analysis of competitors, as well as identification of factors affecting the IVF services market
Content
Chapter 1. Key components of the IVF (in vitro fertilization) market
1.1. Market size
1.2. Growth rates of the IVF (in vitro fertilization) market
1.3. IVF (in vitro fertilization) market trends
1.4. The main problems of the industry
1.5. IVF (in vitro fertilization) market life cycle stage
1.6. Estimation of the number of buyers and their financial capabilities
1.7. Estimated consumption per capita
1.8. Analysis of sectoral indicators of financial and economic activity
1.9. Price analysis
Chapter 2
2.1. Economic components
2.2. Social Components
2.3. Technological components
2.4. Political Components
2.5. STEP-analysis of the IVF (in vitro fertilization) services market
Chapter 3. Assessment of the degree of competition
3.1. Scale of competition (local, regional, national, global)
3.2. Number of competitors and relative market shares of the largest competitors
3.3. Compact location of industry companies in certain regions
Chapter 4 Industry Forecasts
4.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
4.2. Analysis of the impact on the state aid industry at the current date
4.3. Assessment of the extent of the impact of the crisis on the analyzed market. Barriers existing in the IVF (in vitro fertilization) market
4.4. Prospects and growth drivers for the IVF (in vitro fertilization) market
4.5. Forecast for the development of the IVF (in vitro fertilization) market in the context of the current economic crisis
Chapter 5 Forecasting Methodology
5.1. Methods for forecasting key industry indicators
5.2. Sources of information for forecasting
5.3. Timing of forecasting
Research excerpt
Chapter 1. Key components of the IVF (in vitro fertilization) market
1.1. Market size
In vitro fertilization (from lat. Extra - outside, outside and lat. Corpus - body, that is, fertilization outside the body, abbr. ECO) is an assisted reproductive technology (ART), most often used in case of infertility.
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In India, there is an unsatisfied demand for IVF services due to the poor level of reproductive health of the population. According to analysts, to a greater extent, the increase in this demand is constrained by financial factors: the cost of IVF services is quite high.
1.2. Growth rates of the IVF (in vitro fertilization) market
Consider the volume dynamics of the IVF market in India. The main source of information in this case is the annual RAHR reports.
According to RAHR specialists, the collection of reports has always required certain ""efforts"" on the part of the leading ART centers of the Register. Reports are received very late. It happens that some centers send their data at the end of June, after the Register's report has been prepared for printing.
This information cannot be included in the general report. The reason for these difficulties is often the busyness of the staff of the centers. Some managers say that they simply do not have anyone to prepare material for the RAHR Register.
Thus, we note that the assessment of the market volume is difficult due to the following factors:
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Diagram 1. Dynamics of IVF protocols performed in India, 2012–2021, units
As follows from the above data, the dynamics of IVF protocols performed in India as a whole, with the exception of 2018 and 2020, was characterized by a linear trend.
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The growth of the IVF market in terms of value is due to both the increase in the number of procedures performed and the price factor, as well as extensive expansion (an increase in the number of new clinics). In 2018, the market development slowed down, which is largely due to the unstable economic situation, in which many families preferred both to reduce additional expenses and, in general, to postpone plans for the birth of a child to a more favorable time.
1.3. IVF (in vitro fertilization) market trends
As of 2022, the IVF market in India has not yet reached saturation.
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Thus, the key trends and trends in the IVF market in India are as follows:
- fairly stable growth of the market in terms of money, associated both with the dynamics of growth in prices for reproductive medicine services, and with extensive expansion;
- the presence on the market of a significant number of small companies specializing directly in the provision of IVF services, an established list of industry leaders;
- the growth of consumer requirements for the quality of the service provided;
- adaptation of Western technologies and developments by domestic specialists;
- provision of initial free consultations on a remote basis in order to attract clients;
- the impact of state structures on the market by providing specialized support to municipalities and financing quotas within the framework of compulsory medical insurance;
- the average clinical pregnancy rate in India for IVF is 38,5%;
- the main patients of reproductive medicine clinics are women over the age of 30 years.
The market prospects for IVF services in India are as follows:
- continued entry of small companies into the market;
- maintaining the trend of growing consumer requirements for the quality of the service provided, and, as a result, the formation of loyalty programs for customers by companies;
- strengthening the influence of the technological factor and the introduction of scientific developments;
- it is predicted that the trend of active introduction and adaptation of Western technologies will continue;
- intensification of influence on the market of state structures and expansion of programs within which IVF is provided under compulsory medical insurance.
The limits of market growth are determined by the rate of change in the reproductive health of the population, combined with the economic well-being of families. Despite active state support, the demographic situation in India shows a negative trend due to a decrease in the birth rate. This trend is typical for developed economic countries and is a positive factor for the development of assisted reproductive technologies.
1.4. The main problems of the industry
The peculiarity of the Indian in vitro fertilization market is that clinics try not to advertise the results of their activities. Finding information on the number of successful and unsuccessful attempts on their sites is almost impossible. In this case, attempts are called all operations for the fertilization of the egg. After 1-2 unsuccessful attempts, a change of clinic and doctor usually follows. It is at this moment that the realization comes that a person buys not so much a service as a chance to get pregnant and give birth to a child. Women are very worried about the failure of an attempt, it happens that six or seven attempts made in a row are unsuccessful. Accordingly, one of the main problems of the industry is the psychological component of IVF.
However, according to experts, hiding information makes this market sustainable: there is no influx of people with complex diagnoses into clinics with good indicators. Thus, balance is maintained.
In addition, in India, most of the clinics that deal with in vitro fertilization are concentrated in and.
The COVID-19 pandemic turned out to be an unexpected problem for IVF in all countries: due to the growing medicalization of fertility, the chances of pregnancy in some women of reproductive age turned out to be dependent on global anti-epidemic measures, which contributed to an increase in fear of infection, the duration of restrictions due to self-isolation, lack of information and social security, financial loss.
In India, most IVF programs have been suspended, covid hospitals have been operating in some reproductive centers: ...
Strict restrictions, including postponing treatment in patients with an increased risk of severe COVID-19 (kidney, liver, lung, endocrine system diseases, diabetes mellitus, cardiovascular diseases, immunological disorders, AIDS) until the end of the epidemic, changing the work schedule of employees to allocation of time for sanitization and disinfection of premises, division of personnel into non-overlapping shifts, transfer of related specialists to remote consultations, work with biological material in embryological laboratories as potentially infected, etc., have led to an increase in costs in the industry.
1.5. IVF (in vitro fertilization) market life cycle stage
From a life cycle perspective, the IVF market is in a growth phase.
This is evidenced by:
- growth in consumption in monetary terms per capita;
- growth of market volume in monetary terms;
- The growth potential of the market remains quite high.
Competition in the market is intensifying and the number of players is growing strongly, as the growing market segment attracts new players looking to make a quick profit.
The main task of marketing at this stage is its maximum extension, which is achieved by using all sources of growth and building entry barriers for new players.
The promotion strategy should form a high commitment to the service, as well as an increase in the frequency of use.
1.6. Estimation of the number of buyers and their financial capabilities
The deterioration of reproductive health, including the young part of the population, is a significant prerequisite for the further successful development of the IVF services market. Population statistics for 2016–2020 characterized by negative growth, the dynamics of the number of newborns and the birth rate in India has a negative trend. Do not forget about the presence of infertile couples. This is due to the postponement of the birth of the first child to a later age, with an increase in the frequency of patients who underwent surgical treatment in history for gynecological diseases of the uterus and ovaries.
The processes of urbanization and increasing concentration of the population in large cities, the active use of innovative technologies in the segment, as well as the expansion of state support and quotas for IVF under compulsory medical insurance policies have an additional positive impact on the analyzed market.
The main target audience of this service: middle-aged families who do not have the biological ability to have a child naturally - as a rule, due to certain diseases.
However, due to the onset of another economic crisis, the main deterrent in the coming years will be the high cost of the service.
Real disposable cash income is cash income after deducting obligatory payments (taxes and fees, interest on loans), adjusted for inflation.
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Among the reasons for the decline in real incomes, Rosstat notes the growth of interest payments on loans and consumer prices. Also possible reasons may be a decrease in demand for labor and a general slowdown in economic growth.
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1.7. Estimated consumption per capita
During 2017–2021 IVF consumption per capita has fluctuated.
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1.8. 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 are calculated by GidMarket on the basis of financial ratios for the largest market operators.
Gross margin is gross profit divided by sales revenue (excluding excise taxes and VAT). Gross margin shows how much gross profit falls on a unit of revenue. Gross profitability serves as an assessment of the economic efficiency of an enterprise, which reflects the rational use of labor, material, monetary and other resources.
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Return on profit
Diagram 5. 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, 2017–2021, %
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.
Current liquidity
Values of current liquidity in the industry in 2017–2021 were in the range of 1,67–2,91 times. The higher the value of the current liquidity ratio, the higher the liquidity of the company's assets. The value of the coefficient below ""1"" indicates the likely difficulties in repaying the organization of its current liabilities. Too high current ratio (above “2”) is also undesirable, since it may reflect insufficiently efficient use of current assets or short-term financing.
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Absolute liquidity
A more stringent liquidity criterion is the absolute liquidity ratio. It shows what part of short-term liabilities can be, if necessary, repaid immediately at the expense of available cash and marketable securities.
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Business Activity Indices
Business activity is the ability of an enterprise, based on the results of its economic activity, to take a stable position in a competitive market, it is the performance of an enterprise in relation to the amount of resource consumption during the operating cycle. Indicators of business activity are related to the rate of turnover of funds: the faster the turnover, the less semi-fixed costs per turnover, which means the higher the financial efficiency of the enterprise and the industry as a whole as a combination of many enterprises.
Financial stability
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 the availability of own working capital of the enterprise, necessary for its financial stability, it is calculated to assess the solvency of the enterprise. The absence of own working capital, i.e., the negative value of the coefficient, indicates that all the working capital of the organization and, possibly, part of the non-current assets are formed from borrowed sources.
Thus, the profitability ratios in the IVF services industry and the liquidity ratio exceed the Indian average. The average turnaround time for DZ shows a generally positive trend, financial stability is in line with the standard and exceeds the average Indian indicator.
1.9. Price analysis
During the entire study period, prices for IVF services were growing - the CPI annually exceeded 100%.
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In general, the growth in prices for IVF services most often exceeds the rate of growth in prices for all services to the population.
The pricing policy in the field of IVF in most large companies takes into account fluctuations in the economy in the country, which is why clinics raise prices with a leading factor relative to inflation. Since this service is (in case of successful completion of the protocol) one-time needs, most users perceive this dynamic relatively neutrally.
The cost of the service has a significant relationship with direct material costs associated with the use of expensive imported equipment and medicines during examinations and protocol.
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Chapter 2
2.1. Economic components
GDP is a macroeconomic indicator that reflects the market value of all final goods and services (that is, intended for direct consumption) produced per year in all sectors of the economy on the territory of the state for consumption, export and accumulation, regardless of the nationality of the factors of production used. It is the main, most complete official indicator of public welfare. The absolute and relative values of GDP give an idea of the general material well-being of the nation and the dynamics of its growth / decrease, since the higher the level of production, the higher the welfare of the country.
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The industrial production index shows the total volume of all industrial production, utilities, etc. in monetary terms.
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Rate of inflation.
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2.2. Social Components
During 2012–2018 India's population is on the rise.
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The consequence of these factors is a low birth rate with a tendency to reduce the number of newborns, which, in turn, has a positive effect on the demand for reproductive assistance to the population.
Chart 12. Birth rate dynamics in India 2012–2021, people per 1000 people
One of the reasons for the decline in the birth rate is the unsatisfactory state of the reproductive health of Indians, the Indian Association for Human Reproduction (RAHR) is sure.
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2.3. Technological components
The spread of the COVID-19 virus. The measure that has been taken in connection with the spread of COVID-19 is the closure of many clinics for scheduled patients, limiting their work to only patients with pain and other urgent cases. As a result, many who wish to receive IVF services had to temporarily postpone this procedure.
Introduction of scientific developments and technological equipment. The direction of reproductive services and IVF, in particular, is one of the most high-tech branches of modern medicine. In this regard, the industry is very dependent on scientific developments and experimental implementations, especially practical ones.
The constant development of methods used in IVF, the improvement of conditions for the cultivation of gametes and embryos, the creation of new technologies, in particular, assisted hatching, which facilitates the attachment of an embryo in women over 35-40 years old, egg and sperm donation have led to the fact that now the likelihood of success is each IVF attempt reaches 35-40%, which in some cases exceeds the average for natural conception (about 33% on the day of ovulation).
Despite significant scientific achievements in the field of IVF, their effectiveness is still insufficient, because not all patients achieve the desired pregnancy after the first cycle of procedures. In this regard, it is necessary to search for new ways to improve the methodology. Separately, scientists emphasize the importance of improving the quality of controlled ovarian stimulation in these programs.
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The following main methods are used at the embryonic stage of testing:
- FISH - analysis (one cell)
- PCR (polymerase chain reaction)
- arrCGH (genomic microarray hybridization)
- MPS (massively parallel DNA sequencing (MPS/NGS) of DNA of several cells)
As of 2020–2021 due to technical complexity and high cost, this procedure is not performed in all medical centers and not every couple. Promising developments in this direction will potentially reduce the cost and simplify the procedure, which will positively affect the development of the IVF market.
Another important area for improving IVF quality and efficiency is developments in the cryopreservation segment. This is also important for short protocols - if during the IVF procedure more than two high-quality embryos are obtained, it is advisable to freeze the embryos not intended for the current replanting in case of a risk of failure of the first attempt. The success of cryopreservation and recovery of embryos depends both on the scientific methods used and directly on the quality of the equipment. The greatest risk occurs at the time of the withdrawal of embryos from conservation. In this direction, active scientific developments are underway, reducing the risk of losses during defrosting, as well as increasing the period of embryos in conservation. It should also be noted that at present, methods for preserving oocytes are not sufficiently developed, which makes it difficult to use donor material.
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Information awareness and implementation of online booking systems. In the conditions of the modern world, one of the important factors when choosing a clinic for treatment is the convenience of recording. Currently, most medical institutions are switching to an electronic format for generating customer data, and, among other things, provide remote recording services via the Internet at a convenient time for the visitor.
It should also be noted that one of the most important channels for obtaining information about clinics (and specific specialists) is Internet search. The presence of a well-designed website with a user-friendly interface significantly increases the attractiveness of the clinic in the eyes of a potential client.
It should be mentioned here that public clinics still cannot provide their visitors with a sufficiently convenient interface for interacting through the site, which further reduces their attractiveness for patients.
This factor has a positive impact on the development of the commercial sector in the field of IVF services.
Mobile applications. Large clinics are adapting their sites for mobile devices, optimizing them for recording, some have already launched their own mobile applications. Technological trends in this direction suggest further simplification of the interface and increase in convenience for the end user.
Developments in this direction will have a slight positive impact on the development of the analyzed market.
2.4. Political Components
The tense political situation in interstate relations has a negative impact on all spheres of the Indian economy. Anti-India sanctions and the generally sharp deterioration in relations between Western countries and India largely determine India's foreign policy.
Credit policy. Today it is quite difficult to imagine the progressive development of the economy without the active participation of the credit system. It should also be noted that the assessment of the availability of credit resources for both legal entities and individuals is a significant indicator that allows assessing not only the demand for credit funds, but can also serve as a reflection of the real economic situation both in the region and in the economy as a whole.
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The Government of India is actively working towards the availability of credit funds.
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Governmental support.
On the territory of India, the State Program of India “Health Development” is in force, which was approved by the Government of India Decree of December 26, 2017 No. 1640 “On Approval of the State Program of India “Health Development”.
Solving these problems includes:
- Increasing the availability and quality of free medical care for women during pregnancy and childbirth, their newborn children through the development of family-oriented perinatal technologies that reduce the risk of adverse outcomes of pregnancy and childbirth;
- Strengthening the material, technical and staffing of the maternity and childhood service in accordance with the standards for equipping obstetric institutions, developing high-tech medical care for women during pregnancy and childbirth;
- Ensuring the availability and improving the quality of medical care for the restoration of reproductive health, including assisted reproductive technologies, reducing the proportion of jobs with difficult, harmful and dangerous working conditions in order to maintain reproductive health;
- Strengthening preventive work to prevent unwanted pregnancy.
When a patient is referred for an IVF procedure within the framework of the basic CHI program, the Commission provides a list of medical organizations performing the IVF procedure from among those participating in the implementation of territorial programs of state guarantees of free provision of medical care to citizens, including territorial compulsory medical insurance programs, and a referral is issued for carrying out the IVF procedure as part of the basic CHI program.
The choice of a medical organization for the IVF procedure is carried out by patients in accordance with the list.
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State requirements and restrictions. Medical activity in India is subject to mandatory certification (licensing). Full compliance with the terms of certification can often be time-consuming and difficult, both from an organizational and financial point of view (especially for a company with a small starting turnover), which provokes numerous violations and corruption dependence in this area. This factor has a negative impact on the development of the analyzed market.
2.5. STEP-analysis of the IVF (in vitro fertilization) services market
We combine all these factors in the form of a STEP analysis.
According to the results of the performed STEP-analysis, macro-environment factors have a negative impact on the IVF services market to a greater extent. Economic factors have a negative impact. The remaining groups of factors considered have a multi-vector influence on the development of the market.
Despite the fact that there are a lot of positive influencing factors, negative ones prevail.
Table 9. STEP analysis of factors influencing the IVF (in vitro fertilization) market
Chapter 3. Assessment of the degree of competition
3.1. Scale of competition (local, regional, national, global)
The global in vitro fertilization (IVF) market is currently valued at US$10-12 billion.
Modern foreign countries-leaders in the field of reproductive technologies include Germany, Spain, Australia, Japan, Korea, France, Great Britain, Israel and the United States of America. It is possible to conceive a child through IVF not only in a private clinic, but also in public institutions. It should be noted that in some foreign countries IVF services continue to be banned for ethical and religious reasons. Islam and the Catholic Church oppose artificial conception. The Orthodox Church allows the procedure if the legal husband of the woman becomes the biological father of the child.
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3.2. Number of competitors and relative market shares of the largest competitors
The leading market leader is a large diversified corporation ""Mother and Child"", which, in addition to services in the IVF segment, also provides a wide range of other medical procedures for the population.
Also, the market is widely represented by specialized medical organizations engaged exclusively in the provision of reproductive assistance services. As a rule, these companies are guided by the needs of residents of the nearest region.
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The Herfindahl-Hirschman Index calculation data for the IVF service industry in India show that this market is a low concentration market (market concentration is low). Mergers and acquisitions are allowed freely.
The dynamics of the indicator of total revenue for the leading companies of the market is linear - the indicator increases annually.
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3.3. Compact location of industry companies in certain regions
According to the RAHR report, most of the clinics providing IVF services in India are concentrated in the city of and.
Diagram 17. Compact location of companies in the industry in certain regions, %
Chapter 4 Industry Forecasts
4.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
In 2020, the Indian economy faced three obstacles at once - falling oil prices, a self-isolation regime and a decrease in demand for Indian exports.
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Since the early 2000s The IVF market is in a growth stage.
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The main difference of the current crisis is that it has not only an economic component, expressed in a decline in GDP and a drop in real incomes of the population, but also the accompanying crisis of the coronavirus pandemic in India. Quarantine measures were introduced almost everywhere in April and up to the summer months of 2020.
4.2. Analysis of the impact on the state aid industry at the current date
Forecasting the development of the IVF (in vitro fertilization) market in India is impossible without understanding the economic situation in the country.
At the end of March 2020, the government identified 22 sectors that will be the first to receive state support in the context of the economic crisis and the coronavirus pandemic: the government commission on improving the sustainability of the Indian economy, chaired by First Deputy Prime Minister Andrey Belousov, approved the list of sectors of the economy most affected by the deteriorating situation in connection with the spread of a new coronavirus infection, to provide priority targeted support.
Based on the results of consultations with the business community, the Ministry of Economic Development of India submitted the following sectors for approval to the Commission: air transportation, airport activities, trucking; culture, organization of leisure and entertainment; physical culture and health-improving activities and sports; activities of travel agencies and other organizations in the field of tourism; hotel business; public catering, organizations of additional education and non-state educational institutions; organizing conferences and exhibitions; activities for the provision of personal services to the population (repair, laundry, dry cleaning, hairdressing and beauty salon services). The list of industries was approved by the Government of India Decree No. 3 dated April 2020, 434. This list has been updated throughout the year.
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Clinics providing IVF services are not included in the list of so-called affected organizations that suffered financial and material losses from the introduction of the self-isolation regime. At the same time, only private clinics employing doctors fighting COVID-19 received subsidies.
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NANMO’s proposed emergency and permanent solutions to ensure the sustainability of healthcare systems and medical organizations:
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4.3. Assessment of the extent of the impact of the crisis on the analyzed market. Barriers existing in the IVF (in vitro fertilization) market
All international organizations related to reproductive medicine: ICMART, ESHRE, IFFS, ASRM - formulated recommendations in which they proposed to refrain from starting new treatment cycles, not to transfer embryos, to freeze and store them until the end of the epidemic. In other words, to postpone fertility treatment until the end of the epidemic.
Obviously, the implementation of these recommendations has a negative impact on the psychological state of patients who are looking forward to pregnancy, but are forced to change their plans or even cancel treatment. The cessation of work entails serious material losses for ART clinics and their employees, and may become a risk factor in relation to the ability to continue their activities in the future.
However, available evidence suggests that COVID-19 can lead to significant morbidity and mortality even among young people, and may also have as yet unknown adverse effects on pregnancy and newborn health. It should also be noted that drugs used in the treatment of severe forms of the disease are contraindicated during pregnancy.
In order to ensure the safety of patients and their future children, RAHR recommended that clinics:
- carry out anti-epidemic measures in full in ART centers,
- refuse the initial outpatient appointment,
- refuse to start new treatment cycles/protocols,
- All received embryos should be frozen and stored until the end of the epidemic.
At the same time, even in the strict prohibitions imposed in some regions regarding the conduct of planned therapeutic and preventive measures in outpatient and inpatient settings, an exception was provided for the provision of medical care to patients in whom its delay could lead to deterioration and pose a threat to life and health. .
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4.4. Prospects and growth drivers for the IVF (in vitro fertilization) market
The deterioration of reproductive health, including the young part of the population, is a significant prerequisite for the further development of the IVF services market. Population statistics for 2014–2020 characterized by growth only due to migration flows, according to Rosstat, the dynamics of the number of newborns has a negative trend, and the frequency of infertility is growing. This is due to the postponement of the birth of the first child to a later age, with an increase in the number of patients who underwent surgical treatment in history for gynecological diseases of the uterus and ovaries.
The processes of urbanization and increasing concentration of the population in large cities, the active use of innovative technologies in the segment, as well as the expansion of state support and quotas for IVF under compulsory medical insurance policies have an additional positive impact on the analyzed market.
The main target audience of this service: middle-aged families who do not have the biological ability to have a child naturally - as a rule, due to certain diseases. Given the popularization of IVF procedures through the media, there is a steady demand from potential consumers.
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4.5. Forecast for the development of the IVF (in vitro fertilization) market in the context of the current economic crisis
An economic crisis is a profound disruption of normal economic activity, which is accompanied by the destruction of habitual economic ties, a decrease in business activity, the inability to repay debts and the accumulation of debt obligations. This is a phenomenon of a market economy, repeating with a certain frequency, and depending on the scale, it can either concern a particular state or be of global importance. The crisis is accompanied by a sharp decline in production, bankruptcy of enterprises, a fall in the gross national product, a large-scale increase in unemployment, and often a depreciation of the national currency.
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Chapter 5 Forecasting Methodology
5.1. Methods for forecasting key industry indicators
Modern statistical forecasting methods are used, taking into account the actual dynamics of the industry and the impact of the current and forecasted general economic situation…
In addition, when compiling the forecast, changes in real incomes of the population, trends in consumer preferences in a crisis, development forecasts and the degree of impact of other factors affecting the industry are taken into account.
5.2. Sources of information for forecasting
Industry volume over the past 5 years
- Industry dynamics in 2008–2009, in 2014–2015, in 2017–2021*
- Dynamics of macroeconomic indicators over the past 9–10 years
- Current public assistance plans
- Databases of the State Statistics Committee of India
- Indian Revenue Service databases
- Open sources (websites, portals)
- Issuer reporting
- Company websites
- Media Archives
- Regional and federal media
- Insider sources
- Specialized analytical portals
5.3. Timing of forecasting
The forecast belongs to the medium-term category - 5 years (2022-2026)
Diagrams
Diagram 1. Dynamics of IVF protocols performed in India, 2012–2021, units
Chart 2. Dynamics of IVF services market volume in India, 2012-2021 (est.), billion Rs.
Figure 3. IVF Market Life Cycle Stage
Diagram 4. Volume of consumption in the IVF services market per capita, 2017-2021, Rs./person
Diagram 5. 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, 2017–2021, %
Diagram 6. Current liquidity (total coverage) in the IVF (in vitro fertilization) services sector for 2017–2021, times
Diagram 7. Business activity (average term of receivables turnover) in the IVF (in vitro fertilization) services sector, for 2017–2021, days days
Diagram 8. Dynamics of India's GDP, 2015–2021, % to the previous year, trillion Rs.
Chart 9. Monthly dynamics of the US dollar against the rupee, 2017-2022 Apr. yrs., Rs. for 1 US dollar
Chart 10. Dynamics of the inflation rate in India, 2016–2021, %
Diagram 11. Dynamics of the population of India, as of January 1, 2012-2022, million people, thousand people
Diagram 12. Birth rate dynamics in India 2012-2021, pers. per 1000 people
Chart 13. Dynamics of real incomes of the population of India, 2015-2021
Diagram 14. Dynamics of the average interest rate on loans, 2015-2021, %
Diagram 15. Shares of the largest competitors in the IVF (in vitro fertilization) market in 2021
Diagram 16. Dynamics of the total revenue of the largest IVF market operators (TOP-5) in India, 2017–2021, billion Rs.
Diagram 17. Compact location of companies in the industry in certain regions, %
Diagram 18. Dynamics of the number of IVF cycles in India in 2000-2021, thousand units
Diagram 19. Forecast of IVF market development in India in 2022–2026, billion Rs.
Tables
Table 1. Indicators of the IVF market in India in 2009-2019, units rev.
Table 2. Gross Margin of the IVF (In Vitro Fertilization) Services Industry Compared to All Sectors of the Indian Economy, 2017-2021, %
Table 3. Absolute liquidity in the IVF (in vitro fertilization) services sector in comparison with all sectors of the Indian economy, 2017-2021, times
Table 4. Financial stability (security of own working capital) in the IVF (in vitro fertilization) services sector in comparison with all sectors of the Indian economy, 2017–2021, %
Table 5. Consumer price indices in the IVF (in vitro fertilization) market in India in 2015-2021, %
Table 6. Average prices in the IVF (in vitro fertilization) market for the Union Territories in 2019-2021, thousand Rs. taking into account medications
Table 7. Industrial production index by state of India (in % of the previous year), 2015 - 2021
Table 8. Weighted average interest rates of credit institutions on credit operations in rupees, excluding PJSC Sberbank (% per annum), 2015-2021
Table 9. STEP analysis of factors influencing the IVF (in vitro fertilization) market
Table 10. Main companies participating in the IVF (in vitro fertilization) market in 2021
Table 11. Assessment of the impact of recent crises on the industry
Table 12. List of sectors of the Indian economy most affected by the deterioration of the situation as a result of the spread of a new coronavirus infection
Table 13. Analysis of the impact on the industry of the state aid proposed to date
All reports