Regulatory Changes and Compliance Risk: The IVF industry is heavily regulated, and changes in health policies, ethical guidelines, or licensing requirements could impact operations, increase compliance costs, or restrict service offerings.

Intense Competition Risk: The fertility market is competitive, and NIVF faces risks from existing local and international clinics, new market entrants, or competitors offering more advanced technologies, lower prices, or better patient outcomes, potentially impacting market share and profitability.

Technological Obsolescence and Innovation Risk: Rapid advancements in reproductive technologies mean NIVF must continuously invest in research and development and adopt new techniques; failure to keep pace with innovations could lead to a competitive disadvantage or render existing technologies obsolete.