June 17, 2024

The Global Infertility Drugs Market Driven By Increasing Fertility Issues Is Estimated To Exhibit Substantial Growth

Infertility refers to the inability to conceive a child after a year of attempting natural conception. Infertility issues are on the rise globally due to changing lifestyle and health conditions. Issues such as increased stress levels, obesity, sexually transmitted diseases, and exposure to toxins are contributing to fertility problems. This has significantly boosted the demand for infertility drugs that assist couples in conceiving. Infertility drugs comprise hormone therapy drugs that help stimulate follicular development and enhance ovulation. They also include drugs that enhance sperm production and quality in males. The major infertility drugs include clomiphene citrate, letrozole, gonadotropins, and aromatase inhibitors. These drugs mimic hormones naturally produced by the body to stimulate ovulation and regulate the menstrual cycle. Their intake either alone or in combination aids the fertilization and implantation process, thereby improving the chances of conception.

The growing awareness about treatment options and availability of generic drugs at lower costs have further propelled the uptake of infertility drugs. Advancements in assisted reproductive technologies such as IVF have also bolstered the market growth.

The global Infertility Drugs Market is estimated to be valued at Us$ 3699.8 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 key trends:

One of the key trends in the infertility drugs market is the increasing adoption of generics. As the patent for major infertility drugs expires, many generic alternatives enter the market at much lower costs. This has significantly improved the affordability and accessibility of infertility treatment. According to a recent market survey, nearly 50% of the overall market currently comprises generic infertility drugs. Growing awareness about generic alternatives through social media campaigns and e-consultations is further propelling the demand for affordable generic infertility drugs. Their widespread adoption allows patients to undergo multiple treatment cycles that improve pregnancy success rates. This remains a major factor contributing to the infertility drugs market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The infertility drugs market requires significant capital investments for R&D of new drugs. Existing players have strong brand recognition and economies of scale which pose significant barriers to new entrants.

Bargaining power of buyers: The bargaining power of buyers is moderate as drug manufacturers focus on quality and regulatory approval which gives buyers limited options to choose from.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to presence of multiple raw material suppliers and commodity nature of raw materials.

Threat of new substitutes: Threat from new substitutes is low as fertility treatments currently do not have close substitutes and new drug development requires significant investment and time.

Competitive rivalry: The market is dominated by large players with global presence. Companies compete on the basis of product quality, success rates, and new drug approvals.

Key Takeaways

The Global Infertility Drugs MarketĀ  Demand is expected to witness high growth over the forecast period. The global Infertility Drugs Market is estimated to be valued at US$ 3699.8 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Regional analysis:

 

North America currently dominates the market due to high awareness and rising infertility rates. Asia Pacific is expected to grow at a high rate led by China and India owing to large population base and improvements in healthcare infrastructure.

Key players:

 

Key players operating in the infertility drugs market are Merck & Co., Ferring Pharmaceuticals, LIVZON Pharmaceutical Group Inc., AbbVie Inc., and Embryo Technologies Corporation. Key players are focusing on expanding their product portfolios through acquisitions and new drug approvals.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it