In Greece it is estimated that 44 private IVF centers are presently in operation. The vast majority of these units are located in the wider Athens area. The Greek legal framework which regulates the IVF centers is considered as a very progressive and liberal, compared to that of other European countries.
The overall number of IVF cycles carried out in Greece (which were held in all units of the private and public sector) has registered a downward trend in the recent years. Specifically, in the period 2012-2014 the number of IVF cycles declined, at an annual average reduction rate of 13%. The total market value for the IVF centers in question, also declined at an annual average reduction rate of 15%.

Summary
1. Introduction – General Information
1.1Methodology of Sector Studies
1.2 Introduction
1.3 Definition – Phases of IVF
1.4 IVF techniques
1.5 Institutional Framework
1.6 Overview of Economic Developments
2. Factors that Shape Demand
3. The Supply in the Sector of IVF Services
3.1 Number of IVF Centers
3.2 Domains of Competition
3.3 Sector Companies
3.3.1 Presentation of IVF Centers
3.3.2 Total Revenues of IVF Centers
3.3.3 Financial Analysis ofIVF Centers
Profitability
Performance
Liquidity
Financial Structure
Activity
Consolidated Balance Sheet
Comparison of the financial ratios of the companies with the sector - Benchmarking
Ranking of Sector Companies based on Profitability
3.4 The Sector's Creditworthiness Over Time
3.4.1 Creditworthiness of Assessed Businesses
3.4.2 Creditworthiness in the Wider Sector of Medical Care Health Services
3.5 The Sector's Trading Conduct Over Time
Appendix to Chapter 3
4. The Market of Private IVF Services
4.1 ESHRE Statistics for Greece
4.2 Market Size of IVF Services
5. The Sector of IVF Services in Europe
5.1 The IVF sector in Europe
5.2 The IVF sector in the U.K.
Appendix to Chapter 5
6. Conclusions – Prospects
6.1 Analysis of the Competitive Environment –Swot Analysis
General
Threat of New Entrants
Threat of Substitute Services
Bargaining Power of Suppliers
Bargaining Power of Customers
Competitive Rivalry among IVF centres
SWOT Analysis
6.2 Prospects
• Benchmarking of Sector Companies

TABLES
Table 2.1 Female population of Greece by age groups (2011 census)
Table 2.2 Evolution of births (2008-2013)
Table 2.3 Evolution of births by women aged 35-49 years old (1983-2013)
Table 3.1 Number of IVF centers
Table 3.2 Brief presentation of private IVF centers
Table 3.3 Sales of sector companies (2009-2014)
Table 3.4 Profitability ratios of sector companies (2009 – 2013)
Table 3.5 Performance ratios of sector companies (2009 – 2013)
Table 3.6 Liquidity ratios of sector companies (2009– 2013)
Table 3.7 Financial structure ratios of sector companies (2009 – 2013)
Table 3.8 Activity ratios of sector companies (2009 – 2013)
Table 3.9 Consolidated balance sheet of sector companies (2012-2013)
Table 3.10 Consolidated balance sheet of profitable sector companies (2012-2013)
Table 3.11 Consolidated balance sheet of loss-making sector companies (2012-2013)
Table 3.12 ΕΜΒRYOLAB S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3.13 MEDIMALL IATRIKI S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3. 14 NEOGENESIS LTD: Financial ratios and comparison with the sector (2011-2013)
Table 3.15 NEW LIFE S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3.16 ATHANASSIOU, BASIL, LTD: Financial ratios and comparison with the sector (2011-2013)
Table 3.17 VIOGENESSIS S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3.18 EMVIO IDIOTIKO POLYATREIO IATRIKI LTD: Financial ratios and comparison with the sector (2011-2013)
Table 3.19 EMVRYO ART LTD: Financial ratios and comparison with the sector (2011-2013)
Table 3.20 EMBRYOGENESIS MEDICAL S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3.21 PRIVATE GYNECOLOGIC CENTER FOR REPRODUCTION & GENETICS MEDICAL S.A.: Financial ratios and comparison with the sector (2011-2013)
Table 3.22 FERTILITY & I.V.F. CENTER LTD: Financial ratios and comparison with the sector (2011-2013)
Table 3.23 Number of companies that show improvement of profitability and return on equity ratios (2013/12)
Table 3.24 Ranking of sector companies based on gross profits (2012-2013)
Table 3.25 Ranking of sector companies based on profit before income tax (2012-2013)
Table 3.26 Ranking of sector companies based on EBITDA profits (2012-2013)
Table 3.27 Creditworthiness of Assessed Businesses (2013-2014)
Table 3.28 Creditworthiness in the sector of medical services (2014)
Table 3.29 Trading Conduct in the sector of medical services (2013-2014)
App3.1 Formulae of financial ratios
Table 4.1 Number of IVF cycles in Greece (2008-2010)
Table 4.2 Results of IVF cycles in Greece (2008-2010)
Table 4.3 Number of transferred embryos and births with conventional IVF (IVF) and ICSI in Greece (2008-2010)
Table 4.4 Market size of IVF services (2012-2014)
Table 5.1 The IVF sector in Europe (2003-2011)
Table 5.2 The top five countries in terms of IVF cycles in Europe
Table 5.3 Breakdown of IVF cycles in Europe (2008-2010)
Table 5.4 IVF results* in Europe per IVF method (2010-2011)
Table 5.5 IVF results* in Europe per woman age (2010)
Table 5.6 Number of IVF cycles with donated genetic material in the UK (2012-2013)
Table 5.7 Number of realized embryo transfers in the UK (2013)
Table 5.8 Pregnancy rate per embryo transfer after conventional IVF in the UK (2012-2013)
Table 5.9 Live birth rate per IVF cycle in the U.K. (2011-2012)
App5.1 Statistics on Conventional IVF in Europe (2010)
App5.2 Statistics on ICSI in Europe (2010)
App5.3 Statistics on FER in Europe (2010)