In this infographic we explore India’s IVF market, which is ripe for consolidation.

Ernst & Young forecasts India’s IVF market to hit $1.45 billion by 2027, a significant jump from $793 million in 2020, with a projected CAGR of 15-20%.

Globally, infertility presents a major challenge. The Lancet reports a consistent decline in fertility since 1950. This trend is expected to continue until 2100, with the global total fertility rate dropping from over 4.8 births per female in 1950 to around 2.2 in 2021.

Reports from the Indian Society of Assisted Reproduction indicate that approximately 10-14% of Indians are currently facing infertility. Crawford and Ledger (2019) suggest that the market for Assisted Reproductive Technology (ART) is far from saturation. India has now joined the race to become one of world’s leading IVF markets.

Top 5 for-profit IVF providers in India

The below data is based on 2022 company sales from HBI Intelligence.

Revenue per facility breakdown of India’s largest IVF provider

Upon examining the year-on-year revenue data and facility expansion data obtained from Indira IVF,  the average revenue per facility at India’s top IVF provider was over $1 million in 2023.

India’s IVF sector holds a notable advantage in cost-effectiveness compared to countries like the UK, where each cycle can cost around $6000. India offers a significantly lower price range of $1,200 to $2,500 per cycle, making it a highly favourable destination for IVF medical tourism. This affordability, combined with expertise attracts both domestic and international patients, given India’s estimated 25 to 30 million couples facing infertility issues. With success rates ranging between 30% to 35%, advanced clinics, and skilled specialists, India presents consolidation opportunities and is an attractive market for IVF advancements.