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Press Release: Infertility Drugs and Devices Market to Reach US$ 9,702.4 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Infertility means not being able to become pregnant after a year of trying. Drugs, Assisted Reproductive Technology (ART), surgery, artificial insemination, and in vitro fertilization are common treatments.
Statistics:
The global infertility drugs and devices market is estimated to account for US$ 9,702.4 Mn in terms of value by the end of 2027.
Global Infertility Drugs and Devices Market: Drivers
Increasing prevalence of infertility is expected to propel growth of the global infertility drugs and devices market over the forecast period. For instance, according to the National Survey of Family Growth data published in September 2018, 15.5% of all women who intend to become pregnant are infertile and 6.7% of married women aged 15 to 44 years are infertile, in the U.S.
Moreover, increasing homosexual population is also expected to aid in growth of the market. For instance, in March 2019, Williams Institute at the UCLA School of Law reported that around 4.5% of the U.S. adults were identified as lesbian, gay, bisexual or transgender.
Statistics:
North America held dominant position in the global infertility drugs and devices market in 2019, accounting for 35.7% share in terms of value, followed by Europe and Asia Pacific, respectively.
Figure 1: Global Infertility Drugs and Devices Market Share (%) Value, By Region, 2019
Global Infertility Drugs and Devices Market: Restraints
Limited insurance coverage for ART is expected to hinder growth of the market. ART is a relatively new and yet to be fully proven process in many countries. Such a status causes insurance companies to be apprehensive about covering expenses. For instance, in Canada, there is limited fund for IVF and intracytoplasmic sperm injection and hence infertile couples have to bear the cost of treatment. The average cost for infertility treatment in Canada is quite expensive and ranges from between US$ 10,000 to US$ 20,000.
Moreover, high prevalence of sexually transmitted diseases with erectile dysfunction drug users is also expected to hinder growth of the market. PDE 5 inhibitors, though the first line treatment in erectile dysfunction, are associated with a major concern of the transfer of sexually transmitted diseases (STDs). Various studies carried out to analyze differences in the prevalence of STDs among men who use erectile dysfunction drugs versus those who do not have reported that users of erectile dysfunction drugs had higher rates of STDs, particularly HIV and Chlamydia infection, than the non-users.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 6,096.7 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.8% | 2027 Value Projection: | US$ 9,702.4 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Apricus Biosciences, Inc., Bayer AG, Cristalia Produtos Quimicos Farmaceuticos Ltda., Dong-A Pharmaceutical Co. Ltd., Eli Lilly and Company, Meda Pharmaceuticals, Inc., Pfizer, Inc., S.K. Chemicals Co. Ltd., Vivus, Inc., Mylan Pharmaceuticals Inc., Ferring Pharmaceuticals, Cipla Ltd, Aspargo Laboratories, Inc., Aurobindo Pharma Ltd., Lupin Limited, Novartis International AG, Daré Bioscience, Inc., Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals, and Dr. Reddys Laboratories Ltd |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Infertility Drugs and Devices Market: Opportunities
Increasing rate of literacy is expected to offer lucrative growth opportunities for players in the global infertility drugs and devices market. For instance, according to United Nations Children's Fund, globally, the youth literacy rate increased from 83% to 91% during 1985-2018.
Moreover, expiry of drug patents is expected to offer lucrative opportunities for development of generics. For instance, Eli Lilly and Company’s drug, Cialis used for treatment of erectile dysfunction, lost patent protection in September 2018. In October 2018, Teva Pharmaceutical launched a generic version of Cialis in the U.S.
Statistics:
The global infertility drugs and devices market was valued at US$ 6,096.7 Mn in 2019 and is forecast to reach a value of US$ 9,702.4 Mn by 2027 at a CAGR of 5.8% between 2020 and 2027.
Figure 2: Global Infertility Drugs and Devices Market Value (US$ Mn), 2016 – 2027
Market Trends/Key Takeaways
Initiatives to increase awareness regarding human reproductive technologies is expected to propel growth of the market. For instance, in February 2020, Cryos USA, a sperm and egg bank based in the U.S., held a scientific symposium on Assisted Reproductive Technology (ART).
The market is witnessing increasing launch of generics. For instance, in March 2019, Dr. Reddy's Laboratories launched a generic version of Cialis (Tadalafil) tablets for treatment of erectile dysfunction, in the U.S. market.
Global Infertility Drugs and Devices Market: Competitive Landscape
Major players operating in the global infertility drugs and devices market include, Apricus Biosciences, Inc., Bayer AG, Cristalia Produtos Quimicos Farmaceuticos Ltda., Dong-A Pharmaceutical Co. Ltd., Eli Lilly and Company, Meda Pharmaceuticals, Inc., Pfizer, Inc., S.K. Chemicals Co. Ltd., Vivus, Inc. Mylan Pharmaceuticals Inc., Ferring Pharmaceuticals, Cipla Ltd, Aspargo Laboratories, Inc., Aurobindo Pharma Ltd., Lupin Limited, Novartis International AG, Daré Bioscience, Inc., Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals, and Dr. Reddys Laboratories Ltd.
Global Infertility Drugs and Devices Market: Key Developments
Major players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in May 2020, Daré Bioscience, Inc., a developer of women’s health solutions partnered with Health Decisions, Inc., a full-service contract research organization (CRO) specializing in women’s health clinical research and diagnostic development, under which Health Decisions will exclusively provide CRO services within the U.S. to support R&D of Daré’s pipeline of contraception, fertility, and gynecological disorders products.
Major players in the market are also focused on launching generic drugs to expand their product portfolio. For instance, in September 2019, Lupin Limited launched Sildenafil tablets, USP of 25 mg, 50 mg, and 100 mg, a generic version of Pfizer Inc.’s Viagra tablets.
Infertility Drugs and Devices used for treating infertility in male and female. Factors such as endometriosis, ovarian disorders, uterine disorders, tubal disorders, and hormonal disorders are the major cause of female infertility, whereas male infertility is caused by azoospermia, varicocele, ejaculation disorders, and erectile dysfunction. Treatment procedure constitutes of drugs, Assisted Reproductive Technology (ART), surgery, artificial insemination, and in vitro fertilization. Increasing prevalence of erectile dysfunction, increasing research and development, new product approval, and adoption of expansion strategies from major players operating in the market is expected to propel the market growth during the forecast period.
Key features of the study:
Detailed Segmentation:
*Browse 22 market data tables and 14 figures on “Infertility Drugs and Devices Market - Global forecast to 2027”.
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