Infertility Drugs Market Growth to be Driven by Rising Prevalence of Infertility Among Men and Women

Author : naufan cmi | Published On : 22 Jan 2024

Infertility drugs are hormones and other medicines used to treat infertility and assist with conception in couples who are experiencing difficulty getting pregnant naturally. These medications increase the chance of conception by inducing ovulation, increasing sperm production, or facilitating the meeting of egg and sperm.

The global infertility drugs market is estimated to be valued at US$3699 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growth of the global infertility drugs market is primarily attributed to the rising prevalence of infertility among both men and women globally. According to the National Center for Biotechnology Information, infertility affects around 48 million couples worldwide, with an overall prevalence of nearly 15% globally. The increasing cases of infertility are mainly driven by lifestyle changes, rising stress levels, obesity, smoking, alcohol consumption and sexually transmitted diseases. Furthermore, the market is also expected to be driven by the rising success rate of infertility treatment using assisted reproductive technologies such as artificial insemination and IVF, which involves the administration of infertility drugs. Also, the increasing awareness regarding availability of infertility treatments and focus of key players on introduction of cost-effective drugs is further expected to boost the growth of the market over the forecast period.

SWOT Analysis
Strength: Infertility drugs market has strong opportunities for growth. Developments in technologies have aided healthcare providers in developing innovative treatments. Effective drugs have improved success rates for Assisted Reproductive Techniques (ART). Growing awareness among patients regarding fertility concerns and treatment options is aiding the market.

Weakness: High costs associated with infertility treatment and drugs pose affordability challenges to consumers. Lack of health insurance coverage for fertility related services in many countries limits market reach. Stringent regulations and long approval timelines for new drug approvals also impact market growth negatively.

Opportunity: Increasing prevalence of infertility and rising demand from consumers for family planning presents significant opportunities. The growing number of fertility clinics and assisted reproductive technology centers offer scope to reach more patients. Emergence of fertility tourism also supports market expansion opportunities globally.

Threats: Alternative infertility treatment methods like surrogacy and adoption present competitive threats. Social stigma around infertility issues in certain regions act as a demand deterrent. Side effects and risks of ART also undermine market potential to some degree. Rising raw material costs and supply chain disruptions pose threats.

Key Takeaways
The Global Infertility Drugs Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: Asia Pacific region is projected to witness the fastest growth in the infertility drugs market owing to rising medical tourism, increasing awareness regarding infertility treatment options, and improving healthcare infrastructure across developing countries. Growth of the fertility industry and high success rates of ART are also supporting the market expansion in Asia Pacific.

Key players operating in the Infertility Drugs Market are Bayer AG, Merck KGaA, Ferring Pharmaceuticals Pvt. Ltd., Novartis AG, Sanofi, Mylan N.V., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Abbott, Zydus Cadila.

 

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