by Infertility drugs are used to stimulate ovulation and increase egg production in women experiencing fertility issues. These drugs help induce the development of ovarian follicles and maturation of oocytes prior to ovulation or ovulation induction. The main classes of infertility drugs include follicle stimulating hormone (FSH), luteinizing hormone (LH), human menopausal gonadotropin (hMG), and clomiphene citrate.
The global Infertility Drugs Market is estimated to be valued at US$ 3699 million 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 key trends:
Rising infertility rates has been a key factor fueling the growth of the infertility drugs market. According to the World Health Organization, around 60 to 80 million couples worldwide suffer from infertility. Factors such as increasing stress levels, obesity, erratic lifestyle, and growing trend of late pregnancy among women have significantly contributed to the rising rates of infertility globally. The growing number of couples opting for infertility treatment is expected to drive the demand for infertility drugs over the forecast period. Furthermore, increased awareness about infertility diagnosis and treatment options and the availability of reimbursement policies for infertility treatment in developed economies are some other factors expected to propel the growth of the infertility drugs market in the coming years.
SWOT Analysis
Strength: Infertility drugs have high success rate and are effective for treating infertility issues. This gives hope to many patients.
Weakness: Infertility drugs are expensive and not affordable by many patients. Side effects associated with fertility medications are also a concern.
Opportunity: Rising infertility rates and growing awareness about treatment present lucrative growth opportunities. Advancements in fertility medications and technologies will further boost the market.
Threats: Social stigma and religious restrictions around infertility issues in some regions hamper market growth. Stringent regulations delay new product approvals.
Key Takeaways
The Global Infertility Drugs Market Size is expected to witness high growth.
North America currently dominates the market and is expected to maintain its leading position over the forecast period. This can be attributed to advanced healthcare facilities and increased awareness about infertility treatment options in the region. Furthermore, growing focus on innovation and presence of major players are factors expected to drive the North American market.
Key players operating in the infertility drugs market are Bayer AG, Merck KGaA, Ferring Pharmaceuticals, MonashIVF, and AbbVie Inc. among others. These players are involved in launching new and advanced products to expand their product portfolios. For instance, in 2022, Ferring Pharmaceuticals launched a innovative fertility treatment called Rekovelle that can simplify the treatment journey for infertility patients.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
