Asia is confronted with a massive delay when it comes to women giving birth. This situation is opening great opportunities for the in-vitro fertilization (IFV) industry and has a massive influence for the economic development.”The market is going to grow massively, there is no doubt, particularly in India and China we have seen huge growth,” said Robert Norman, fertility expert and president of Aspire, an Asia-Pacific industry lobby group.
Several countries such as Singapore, Japan and South Korea have fertility rates of less than 1.5 births per woman, a level experts consider very low. In contrast, the United States has a fertility rate of around 2.01 and Australia 1.9, the international press reports.
In the long term, having a low birth rate decreases a country’s labor force as the population ages. It is a situation that is already visible in Japan.
To avoid such issues, some countries are financially supporting infertility treatment, including South Korea, which has a fertility rate of 1.4 according to World Health Organization (WHO) figures. Singapore, which has a fertility rate of 1.29, increased its subsidies from January, covering up to 75 percent of the treatment costs for couples receiving IVF.
China is a market where IFV is still developing, while India is currently dominated by IFV companies such as Fortis Bloom Fertility and IVF Center.
But cultural barriers will probably have to be overcome in countries like India and Indonesia,where it is not common for couples to talk to strangers about reproduction problems.