Why is IVF Business Booming in India?
Saarthak Bakshi, CEO, International Fertility Centre
The country has undergone a drastic change over several years and has been experiencing a widening generation gap as well as changes in the lifestyle. The youth of the contemporary world has started disregarding the ancient notions and philosophies and is basing their lives upon their modern thoughts. This change has definitely led to an increase in deteriorating health conditions which is important to be addressed and tackled.
These fluctuations and deviations from ancient times have been developing and resulting in several unhealthy lifestyle choices and practices. The mounting pressure of the work culture is also added to the problem thereby altering and misbalancing the whole of the life of the youth of the country.
The people are generally compromising on their health and do not essentially focus or emphasis on what they eat. The unbalanced diet including junk foods, excessive sugar items and greasy foods have harsh health effects. Also, eating food at odd hours of the day also adds to the problem. The long and erratic working hours disturbs the sleep cycle which makes the population dependent on caffeine, alcohol and tobacco which has been tolling the lives of many.
Unknowingly, people are becoming the prey and a host to life-wrecking, upsetting and alarming problems like hormonal imbalances, increased weight, augmented stress levels, endometriosis, Polycystic Ovary Syndrome (PCOS), infrequent ovulation or disturbed menstruation cycles, fibroids, lowered sperm count and its mobility issues.
The Indian Mindset
As per the Indian Traditions, the foremost question asked to a married couple is about their family planning and their preparations on the conception of the extended family that is giving birth to a baby. Infertility has always been an evident and blatant phenomenon that proved to be a devastating experience for many couples. Several eyes cast complaints and make sly inferences and intimations on incapable couples.
The Emergence of IVF
All these problems eventually result in the birth defects thereby delaying or halting the process of Fertility. These changes have given a green signal to the emergence of the practices of IVF or In Vitro Fertilization in the country.
In-Vitro Fertilization is a gleam of expectations for all those who are facing
a tough time going through the phase of childless. This inability can be occurred due to genetic factors, prevailing health conditions, blocked tubes and even deteriorating environmental conditions.
Though, with the development and enhancement of medical science and technology, things and notions have also augmented. This novel and revolutionary technology and medical science changed the previous and distressing scenario with the advent of IVF. Certainly, the decreasing fertility rates of people across the country and the world has been a host to the prosperous and booming business in the country. This method of conception helps in elevating the life condition and families of several childless couples. Since the birth of the first IVF baby in the country, this business has been detonated and flooded with IVF Clinics throughout the country. With this upsurge, the shackles, stigmas and the orthodoxical approaches associated with these so-called ‘unnatural processes’ of giving birth to the baby is also experiencing a decline.
The Market Scenario
There has been a notable growth of infertility clinics around the world. The concept of IVF has expanded at a swift pace in India over the last decade. Currently, India’s fertility market has observed a CAGR of around 13-14% over the 5 year period spanning from 2013 to 2018 which is highly remarkable.
Not only IVF but services like Intracytoplasmic Sperm Injection (ICSI), Intrauterine Insemination (IUI) or artificial insemination, egg freezing, donor egg treatment, donor embryo treatment, endoscopic diagnosis are accepted and practised extensively with newer techniques being introduced which at par with the international standards.
The Indian Fertility Market has always been seen as the best for all the people residing in the world. The intelligence and the instilled efforts of the Indians actually have the best results with success rates as high as 60-65% with best quality drugs and even the rates. The Indian IVF Market offers world-class instruments with supervised laboratories under appropriate temperatures and best in class services within affordable rates. India stands at the top for reproductive medicine.
The skilled doctors, low-cost technology, increased awareness, negligible government administration and best services with sky touching success rates have made India a preferred destination for fertility tourism. India is also home to some of the finest international IVF centres and top-notch IVF doctors. Most of the major global IVF stakeholders have recognized the size of this opportunity, and some have already entered the market.
In India, IVF treatment is available at a much reasonable and inexpensive cost in comparison to other nations. The lack of availability of donor eggs in these countries eventually results in considering our country for Infertility Treatments. Infertile couples from countries like UK, Spain, Australia, France generally turn up to India from IVF Treatments.
The Changing Scenario
With the passing of Surrogacy (Regulation) Bill 2016 in the Lower of House of the Parliament, shall regulate the now booming IVF Industry as the practice of Commercial Surrogacy has been completely done away with. Not only this, no foreigners or NRI’s can go for Surrogacy in India. This Bill only seeks to promote Altruistic Surrogacy. Had the Bill changed for the better, which would have allowed surrogacy for same-sex couples and single parents, then it would have clearly influenced and affected the industry with greater clients coming from overseas.