It is a laboratory procedure in which processed sperm are either placed or injected into oocyte [egg] in a petridish to achieve a fertilization. If fertilized the resultant embryos are transferred into woman’s uterus in hope for implantation.

Originally IVF was down for woman with damaged or absent tubes, but there are number of other indication for IVF.
The first baby, Louise joy brown, was born through IVF in England in 1978

The other common word for IVF is Test tube baby