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Cryoport, Inc., the leading provider of advanced cryogenic logistics solutions for life sciences serving markets including immunotherapies, stem cells, cell lines, clinical research organizations, vaccine manufacturers, and reproductive medicine, today announced it has initiated support of the growing in-vitro fertilization ("IVF") market in Nepal.
Cryoport, the market leader in support of the IVF market with its advanced cryogenic logistics solutions in the United States and other parts of the world, continues its global expansion into Nepal. The
global marketplace for in-vitro fertilization is rapidly expanding in the Asia Pacific region where Cryoport is well positioned in India, Malaysia, Vietnam and now Nepal to capitalize on the trend. Due to lower cost of treatments, the region is poised for tremendous growth and market expansion.
Jerrell Shelton, CEO of Cryoport, commented, "Developed by the late Dr. Patrick Steptoe, a gynecologist, and the late Robert Edwards, a Nobel prize winning embryologist, IVF has experienced successivev development and refinement over the last 30 years. The European Society for Human Reproduction and Embryology estimates that over 5 million babies have been born using the technique, which creates embryos in the laboratory before transferring them into a woman. Industry sources estimate there are approximately 7.5 million women declared infertile each year with 1.2 million seeking treatment and 350,000 babies born via IVF every year."
"Learning from neighboring India, Nepal has been increasingly providing IVF services to its citizens directly and to foreigners through medical tourism. The number of citable articles around IVF that have originated from Nepal has more than tripled over the past ten years as noted in the International Journal of Fertility and Sterility. All factors indicate that IVF is of growing importance to Nepal. Therefore, we are pleased to announce that we are expanding our global footprint in IVF with Cryoport's validated cryogenic logistic solutions in Nepal. We look forward to being part of the solution to a growing market," Mr. Shelton concluded.
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