IVF Industry Boom in India: Top 3 Companies Ruling the Indian IVF Sector

$1,092.3 million…

Yeah! That’s the value of our IVF industry in 2024. And this is not the end because by 2033 the value will reach $5,051.3 million. I bet you must have seen a poster of IVF companies/clinics in every urban area.

Now some of the obvious questions are- What’s the reason behind the IVF Industry boom in India? Is there any health crisis behind this or is it the game of marketing strategies? 

In this article, we will decode everything on the IVF industry boom in India and also we will discuss the top companies ruling this sector.

If you’re curious about why this industry is skyrocketing, here’s a look at what’s fueling this growth and how it’s helping people across the country and even beyond!

Changing Attitudes and Rising Awareness

You know, just a few decades ago, fertility treatments like IVF (in vitro fertilization) were often misunderstood or even stigmatized. But today, things have changed for the better. Couples who face challenges in conceiving no longer have to feel alone or misunderstood, as more and more success stories of IVF are being shared openly.

Awareness has increased too. People now know that infertility is common and can happen to anyone, often because of lifestyle or medical issues. Educational campaigns by health organizations, media coverage, and social platforms have made people more aware of their options, and they’re now more comfortable seeking help.

Why are infertility rates rising?

This may surprise you, but modern lifestyles are affecting fertility rates in big ways. The demands of work, financial responsibilities, and personal goals are causing many people to delay having children. This delay often brings complications. Plus, lifestyle factors like high-stress levels, irregular eating habits, and lack of exercise are taking a toll on reproductive health.

Women are facing an increase in conditions like PCOS (polycystic ovary syndrome) and endometriosis, which can lead to infertility. On the men’s side, declining sperm quality has become more common. Altogether, these trends are making fertility treatments a much-needed solution for many couples.

The Role of Advanced Technology in IVF Industry Boom in India

Now, let’s talk tech! The IVF industry in India is getting a huge boost from advanced technology, which has made the process more effective. For example, with pre-implantation genetic testing (PGT), doctors can now screen embryos before implantation to ensure they’re free from specific genetic issues. This means healthier pregnancies and fewer chances of complications.

What’s even more exciting is the use of artificial intelligence (AI) in fertility treatments. AI helps doctors make more accurate decisions, like selecting the best embryo, which increases the chances of success. Thanks to these advances, the success rate of IVF treatments has improved significantly, making it more appealing for couples.

IVF in India: Affordable and Accessible

You might wonder, why is India becoming such a big name in IVF? One key reason is affordability. In Western countries, a single IVF cycle can cost anywhere from $12,000 to $30,000. But in India, an IVF cycle ranges between $1,200 and $2,500. That’s a fraction of the cost compared to the US or UK!

This affordability doesn’t mean compromising on quality. India has top-notch IVF clinics equipped with cutting-edge technology and experienced doctors. This has made India a top choice for international patients as well, leading to a boom in medical tourism.

The IVF Market is Flourishing

The numbers speak for themselves. In 2020, the IVF market in India was valued at around $793 million. By 2030, it’s expected to jump to a whopping $3.72 billion. That’s a compound annual growth rate (CAGR) of about 16.5%! It’s no wonder investors are showing interest, with private equity firms pouring money into IVF companies, seeing this as a golden opportunity.

In fact, companies like Nova IVF Fertility and Indira IVF have been expanding rapidly. Nova, which started with 18 centers, now has 78 across 54 cities, aiming to grow even further. Indira IVF, based in Udaipur, is on a mission to expand its footprint not only in India but also in neighboring countries like Nepal and Bangladesh. These expansions are bringing IVF to Tier II and Tier III cities, making it accessible to more people.

Bridging the Urban-Rural Gap

There’s no denying that both urban and rural areas in India need IVF services, though for different reasons. In cities, lifestyle changes and career-focused delays in parenthood are increasing infertility rates. Meanwhile, in rural areas, access to reproductive healthcare is often limited. Leading IVF providers are now focusing on reaching smaller cities and towns, bringing high-quality fertility care closer to rural communities.

This is important because, as of now, only 1-2% of the estimated 30 million couples who need IVF actually seek treatment. This gap shows there’s an enormous demand waiting to be tapped, and bridging this gap could bring IVF services within reach for millions.

Government Support and Regulatory Measures

The Indian government has stepped up too. The Assisted Reproductive Technology (ART) Act of 2020 laid down strict guidelines for IVF clinics, ensuring they maintain ethical standards and protect patients from exploitation. This move also brings trust to the industry, as couples can feel more secure knowing the clinics they’re turning to are regulated.

Another big change came in 2023, when the Insurance Regulatory and Development Authority (IRDA) mandated insurance coverage for fertility treatments, including for surrogate mothers. This makes a significant difference, as many families previously struggled with the high costs of IVF. With these measures, IVF has become a more viable option for many.

Medical Tourism on the Rise

If you think only Indians are interested in affordable IVF in India, think again. Couples from across the world are flocking to India for fertility treatments. The country’s reputation for affordable yet high-quality healthcare is attracting patients from places like the Middle East, Africa, and even Western countries where treatments are prohibitively expensive.

Improved transportation and communication have made it easier for international patients to connect with clinics in India, making the country a leader in IVF-related medical tourism.

Note: We have already explained the reasons behind the rise of Medical tourism in India thoroughly. Go through the article for detailed information.

Top 3 Companies Ruling the Indian IVF Sector

In India’s IVF landscape, three names stand out- Indira IVF, Apollo Fertility, and Bloom IVF. These leaders have built their reputation with advanced technology, high success rates, and wide-reaching networks. Let’s have a closer look at how these top players are performing in terms of various aspects-

Now, let’s have a closer look briefly-

Indira IVF

As the market leader, Indira IVF is known for being the largest fertility clinic chain in India, with a huge network of clinics handling a high volume of procedures every year. They offer a full range of fertility treatments, including IVF, ICSI, and egg freezing. With success rates consistently around 70-75%, it’s clear why Indira IVF is the go-to for so many couples.

Apollo Fertility

Apollo Fertility specializes in IVF treatments across multiple cities in India, taking a comprehensive approach to infertility. Their centers are fully equipped with cutting-edge technology and staffed by highly trained professionals, ensuring strong treatment outcomes. Known for high patient satisfaction, Apollo has built a positive reputation that makes it a trusted name in fertility care.

Bloom IVF

With a stronghold in northern and western India, Bloom IVF provides services tailored to the specific needs of those regions. From ICSI and IUI to egg and embryo donation, Bloom’s diverse range of treatments makes it a versatile choice. The clinic’s focus on personalized, patient-centric care has led to high satisfaction rates among clients.

As the demand for IVF continues to grow, these three are well-prepared to support the dreams of hopeful parents nationwide.

Challenges in the IVF Industry

Despite the growth, the IVF industry isn’t without its hurdles. For one, there’s a shortage of fertility specialists, which can lead to long waiting times and limited options, especially in smaller towns. The stigma surrounding infertility and reproductive health is another issue, particularly in rural areas, where many still hesitate to seek help due to cultural beliefs.

Another challenge is affordability. While IVF is more affordable in India than abroad, it’s still costly for many Indians. Not everyone has access to insurance, and while the recent IRDA mandate helps, there’s still work to be done to make IVF affordable for everyone.

The Future of IVF in India

So, what’s next? With the IVF industry growing at this pace, it’s only a matter of time before India becomes a global hub for fertility treatments. Major companies like Birla Fertility, Nova IVF, and Indira IVF are continually expanding, with plans for hundreds of new centers across India and even in international locations.

If the industry maintains this growth trajectory, India could soon perform 5-6 lakh IVF cycles per year. The future also holds potential for even more technological innovations, which could drive success rates higher and make treatments more accessible and affordable.