27.5 million infertile couples in India need quality fertility treatment
Overview of the market today
- India faces the twin challenges of high infertility rate along with significantly low treatment rates. Which means many of the infertile couples get no treatment. This is evidenced from the fact that amongst the 27.5 million infertile couples, only 65,000 undergo treatment!
- The IVF market is highly under-penetrated with addressable demand being 9-12 times higher than the current market, even in the large metro cities. That indicates a potential of 7,80,000 patient numbers a year.
- Affordability, Access, Awareness and Assurance are key to expanding the market.
- The market today comprises of a large organized sector (corporate chains and stand alone clinics of major practitioners) which handles 75% of the nearly 1 lac cycles and the 25% unorganized sector that handles the rest. Each of these sectors consists of roughly 500 clinics each.
- The market is highly fragmented with very large players performing more than 1000 cycles annually, across major metros.
While the patient side of the business deals with Access (Medical Tourism) awareness (patient counseling and education), the clinic side of the business will deal with Affordability and Assurance.
| Affordability: While the cost of IVF in India is 3-4 times cheaper than the USA, the treatment is still unaffordable to 80% of our population. This is because 21. % of the households ( 52.6 million) have an income of > Rs. 2 lakh a year. There is also the fact that most insurance (Pvt. and Public) do not cover infertility. We can bridge this gap through bank credit that is offered through certified rated clinics, and P2P lending platforms – either own or built in joint venture basis.
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| Assurance: There is a lack of regulatory framework, nearly no quality assurance, and transparency. There is no legislation requiring the registration of ART clinics and sperm/egg banks. Also there is no industry wide rating system of clinics based on their quality, safety, and successes.
Bloom IVF over the years have adopted quality and safety standards at par with International standards. Bloom IVF clinics have patients visiting from 50 countries around the world. For more information write to : info@bloomivf.com |