INFERTILITY DRUGS AND DEVICES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global infertility drugs and devices market is estimated to be valued at US$ 7.6 billion in 2023 and is expected to exhibit a CAGR of 6.3% during the forecast period (2023-2030).

Analysts’ Views on Global Infertility Drugs and Devices Market :

To enable a infertility drugs and devices which is rapid and in order to reduce the risk of manual errors, medical equipments manufacturers in the global infertility drugs and devices market are focusing on offering end users with convenient products. Furthermore, the global Infertility Drugs and Devices market is expected to witness growth, as manufacturers are launching new and improved products and drugs, and investing more in research & development. Improved healthcare services, medical devices, and phototherapy equipment are expected to drive the market growth

Figure 1. Global Infertility Drugs and Devices Market  Share (%), By Type, 2023

Global Infertility Drugs and Devices Market– Drivers

Increasing prevalence of infertility

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 2022, reported 20.5% of all women intend to become pregnant are infertile and 9.7% of married women aged 15 to 44 years are infertile, in the U.S.

Increasing homosexual population

Increasing homosexual population is also expected to drive the market growth.For instance, in September 2021, Williams Institute at the UCLA School of Law reported that around 8.5% of the U.S. adults were identified as lesbian, gay, bisexual or transgender.

Figure 2. Global Infertility Drugs and Devices Market  Value (US$ Billion), By Region, 2023

Global Infertility Drugs and Devices Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global infertility drugs and devices market over the forecast period. North America is estimated to hold 42.8% of the market share in 2023. North America infertility drugs and devices market is expected to witness significant growth in the near future, owing to increasing launch by key market players. For instance, in August 2022, Inception Fertility LLC., a tech-enabled company improving patient experience through an ecosystem of fertility brands in U.S., launched HavenCryo, a long-term reproductive preservation and storage solution provider that uses state-of-the-art technologies and enhanced safety protocols to store reproductive tissue, including eggs, sperm, and embryos, for as long as a patient may need. HavenCryo also allows providers to focus on the most critical part of the reproductive journey to patient care as its experienced staff streamlines safe and timely transfers, while its industry-leading technologies enhance the preservation process for patients who are planning for the future.

Global Infertility Drugs and Devices Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of equipments from one place to another.

However, the COVID-19 pandemic had positive impact on the global infertility drugs and devices market . COVID had a significant impact on the studied market. Various studies and articles has been published on the impact of COVID on in vitro fertilization (IVF). For instance, according to a research report published by PubMed Central in February 2021, SARS-CoV-2 is alleged to interfere with ART operations and disrupt female fertility via controlling ACE2. Consequently, it was anticipated that the pandemic would have an impact on market growth; however, with the decline in COVID-19 cases and widespread vaccination, it is anticipated that the studied market will once again reach its full potential over the forecast period.

Global Infertility Drugs and Devices Market  Segmentation:

The global infertility drugs and devices market  report is segmented into By Type, By Gender,  and By Region.

By Type, the market is segmented Infertility drugs (clomiphene citrate, sex hormones, gonadotropins, bromocriptine, cabergoline, imipramine, letrozole, metformin), and infertility devices (equipment, accessories). Out of which, Infertility drugs segment is expected to hold a dominant position in the global infertility drugs and devices market during the forecast period, owing to increasing awareness of infertility drugs .

By Gender, the market is segmented into Male and Female. Out of which, the Female  segment is expected to dominate the market over the forecast period, owing to increasing prevalence polycystic ovary syndrome (PCOS) .

Among all the segmentations, the type segment has the highest potential due to increasing advancements in infertility devices over the forecast period.

Global Infertility Drugs and Devices Market-  Cross Sectional Analysis:

Key players are manufacturing new infertility devicess with advance technology in emerging economies, and this is expected to boost demand for infertility drugs in North America region. Various development by market players and research institutes around the world are also contributing to the growth of the market. For instance, in March 2022, researchers from the Florida Atlantic University's College of Engineering and Computer Science developed a microfluidic chip-based device for sperm sorting that is fast, inexpensive, easy to operate, and efficiently isolates healthy sperm directly from semen. It effortlessly collects sorted sperm cells from the collecting chamber while minimizing contamination by deformed or dead sperm cells.

Global Infertility Drugs and Devices Market: Key Developments

In January 2020, Evotec SE, a drug discovery and development company headquartered in Hamburg, Germany, and Bayer AG, a multinational pharmaceutical and biotechnology company in Germany, announced the expansion of its partnership in women’s health indications with a new five-year, multi-target collaboration with participation from Celmatix Inc. to develop multiple clinical candidates for the treatment of polycystic ovary syndrome (“PCOS”).

In September 2022, NeuroBo Pharmaceuticals, Inc., a clinical-stage biotechnology company focused on developing innovative treatments for chronic liver and related metabolic diseases and Dong-A ST Co., Ltd., a pharmaceutical company,  announced that they have entered into a conditional exclusive license agreement for fertile to develop and commercialize DA-1241 and DA-1726, which are currently being evaluated for the treatment of infertility.

In June 2022, Mankind Pharma, a pharmaceutical company in India, developed and launched a generic version of Dydrogestrone tablets for the treatment of patients’ pregnancy-related complications in India. This drug was an equivalent version of Abbott Duphaston tablets. This launch was expected to drive infertility treatment market.

In November 2021, Neotech Medical Systems Pvt. Ltd., a medical equipment manufacturer in India, launched infant transport incubator that is designed to circulate warm air at a temperature set by the operator while transporting preterm infants in severe condition to hospitals by ambulance.

Global Infertility Drugs and Devices Market: Key Trends

Initiatives to increase awareness regarding human reproductive technologies

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).

Global Infertility Drugs and Devices Market: Restraint

Presence of effective alternatives to medications

Presence of effective alternatives to medications and its increased adoption rate may have a negative impact on the market growth. According to a research article published in Reproductive Biomedicine, in November 2021, over 2.5 billion In vitro fertilization (IVF) procedures are performed annually worldwide. Most Europe countries provide complete funding for several IVF procedures. Hence, the threat of substitutes is expected to be high during the forecast period. However, the market has witnessed the patient shift towards medical procedures including ART and IVF in combination with infertility medications, which may support the market growth.  

 Global Infertility Drugs and Devices Market - Key Players

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.

*Definition: Infertility drugs and devices are used for treating infertility in both the genders, male and female. Factors such as endometriosis, ovarian disorders, uterine disorders, tubal disorders, and hormonal disorders are the major cause of infertility in females, whereas infertility in males 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.