Vitrification Market Is Estimated To Witness High Growth Owing To Rapid Technological Advancements

The vitrification market is estimated to be valued at US$ 9.30 Bn in 2024 and is expected to exhibit a CAGR of 16.1% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The growth of the vitrification market is driven by rapid technological advancements in the field of cryopreservation. Vitrification uses ultra-rapid cooling of biomaterials, which allows the formation of an amorphous glass instead of ice crystals. Newer techniques of open and closed vitrification systems have enabled higher cell viability and survival. Moreover, vitrification is increasingly being used for embryo and oocyte banking. Rising rates of infertility and delays in childbearing have boosted the number of IVF treatments in recent years, thereby augmenting demand for vitrification.

Key Market Trends:

Research in vitrification is focusing on improving protocols to achieve higher survival rates post-warming. Companies are investing in understanding the impact of cryoprotectants and carrier volumes on cell viability. Trend of personalized vitrification is also gaining traction. With this technique, oocytes from multiple hyperstimulated cycles can be vitrified and stored for future use in IVF treatments. This offers patients an insurance against future infertility and reduces scheduling pressures. Some clinics also provide vitrification of testicular and ovarian tissues to enable fertility preservation options for pediatric cancer patients. More coverage can be found in the sample copy.

Vitrification Market Opportunities

The product type segment of the vitrification market includes equipment, media, and consumables & accessories. Within equipment, the vitrification equipment segment held the largest market share in 2019 and is expected to grow at a CAGR of 15.6% during the forecast period. Rising cases of infertility and growth in IVF treatments are compelling fertility clinics and hospitals to invest in advanced vitrification equipment. In addition, key developments by major players to launch innovative and automated vitrification equipment are augmenting the demand.

Based on application, the vitrification market is segmented into egg and embryo banking, IVF, and reproductive medicine. The egg and embryo banking segment led the market in 2019 and is estimated to register a CAGR of 16.3% during the forecast period. Growing focus on preservation of fertility and genetic materials is compelling more individuals to opt for egg and embryo banking services. In addition, rising awareness about infertility treatment options such as egg freezing is driving the segment growth.

Key Market Takeaways

Vitrification market size was valued at USD 9.30 billion in 2024 and is anticipated to witness a CAGR of 16.1% during the forecast period 2024-2031. Growing infertility rate, rising acceptance of IVF treatments, and new product launches are compelling the market growth.

By product type, the vitrification equipment segment held the largest share in 2024 due to increasing investments by fertility clinics and hospitals. Within applications, egg and embryo banking segment dominated the market in 2024 owing to rising awareness about fertility preservation options.

Regionally, North America dominated the vitrification market in 2024 due to presence of advanced healthcare facilities and rising infertility rates in the US and Canada. Europe stood as the second largest market.

Some of the prominent players operating in the vitrification market include Vitrolife AB., Igenomix., Kitazato Corporation, Cryolife Inc., Cook Medical, and others. Major players are engaging in new product launches, mergers, and collaborations to strengthen their market position.

Competitor Insights:

Vitrolife AB
Igenomix
Kitazato Corporation
Cryolife Inc
Cook Medical

Recent Developments in Vitrification Market

In June, Corning unveiled a new lightweight and durable glass material designed for use in consumer electronics. Dubbed “Gorilla Glass Victus 2”, the next-generation formulation is 20% thinner yet twice as scratch-resistant as previous versions. Victus 2 glass allows device manufacturers to create sleeker designs with larger display areas while maintaining protection from drops and surface damage. Rapid adoption is expected across flagship smartphones released in 2024.

June 2023 saw the launch of a new line of industrial vitrification furnaces by a leading manufacturer. Equipped with advanced controls and monitoring systems, the furnaces allow for precise temperature regulation throughout the melting and forming cycles. This enables higher throughput and more consistent product quality. Several companies have also automated parts of their vitrification workflows, such as raw material feeding and product handling, to improve safety, efficiency and reduce human errors. Full coverage of the report available here.