INVO Bioscience and Ming Mei Technology introduces next-gen technologies to fertility market in Taiwan: Global Data

London: GlobalData, a data analytics company, has announced the INVO Bioscience Inc and Ming Mei Technology’s recently signed agreement to distribute the INVOcell intravaginal culture (IVC) system is expected to bring the latest and most advanced assisted fertility treatments to people in Taiwan.

"With this agreement, INVO Bioscience Inc aims to take advantage of Ming Mei’s reproductive medicine expertise and strong customer relationships to strengthen its presence in the region," GlobalData informed in a press statement.

Due to delayed marriages and the rising cost of living, Taiwan has one of the lowest fertility rates in the world but is one of the preferred destinations for assisted reproduction in Asia.

Commenting on this agreement, Pratibha Thammanabhatla, Medical Devices Analyst, GlobalData, says, "IVC allows an expectant mother to carry the embryo inside her body instead of leaving it in the lab, making the process more natural, intimate, and affordable compared to other assisted reproductive technology (ART) treatments. The demand for this treatment is expected to increase in Taiwan as INVO Bioscience Inc claims that success rates with this technique are comparable to in vitro fertilization and substantially higher than intrauterine insemination."

GlobalData’s report, "Assisted Reproductive Technology Devices Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030," reveals that Taiwan is one of the fastest-growing ART device markets in the Asia-Pacific region, growing at a compound annual growth rate of over 9 per cent through 2030.

Highlighting the significant support from the Taiwanese government in the form of a financial subsidy for assisted fertility services, Thammanabhatla says, "With the availability of expertise, advanced treatment options, superior laboratory facilities, and patient-centered, customised treatment plans, the number of couples undergoing ART therapy in Taiwan is anticipated to grow rapidly, and more companies are expected to invest in this space."

"As Taiwan lifts all its COVID-19 travel restrictions, medical tourism is also expected to increase as more international patients prefer ART treatment in Taiwan considering the affordability and convenience," she concludes.