Visiongain has published a new report entitled Infertility Drugs & Devices Market Report 2024-2034: Forecasts by Product (Drugs, Equipment, Media & Consumables, Accessories), by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgeries, Other), by Patient (Female, Male), by End-use (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks, Research Institutes) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.
The Infertility Drugs & Devices market was valued at US$ 5.9 billion in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period 2024-2034.
Decreasing fertility rate
According to the UN Population Fund, fertility has reduced from 5 births in 1950 to 2.3 births per woman in 2021 and further expected to reduce to 2.1 births per woman by 2050 globally. Approximately,75% of countries will not be able to sustain population size by 2050 that will increase to 97% of countries by 2100 owing to decreasing fertility rates. Primary reasons for decrease in fertility rates are lifestyle factors such as nutrition, weight, and exercise; physical and psychologic al stress; environmental and occupational exposures; substance and drug abuse; medications, hectic work life balance, easy access to family planning methods/ high contraceptive prevalence rate, late marriages, etc. These factors are expected to increase the need for infertility treatments thereby contributing to market growth.
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How will this Report Benefit you?
Visiongain’s 351-page report provides 160 tables, 249 charts and graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Infertility Drugs & Devices Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Infertility Drugs & Devices. Get financial analysis of the overall market and different segments including product, procedure, patient, and end-use market share. We believe that there are strong opportunities in this fast-growing Infertility Drugs & Devices market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing public-private investments
Increasing investments in the form of grants, funding are expected to boost the market growth. According to Crunchbase, a database firm, global investments increased by 89% from US$93 million in 2020 to US$176 million in as of 2021. Furthermore, according to UCLA Health, 15% of couples that face issues to conceive, would be expecting assistance from employers or innovations from startups for fertility in the U.S. Furthermore, acquisitions of fertility centers is another factor that is expected to trigger growth with organic and inorganic growth strategies. For instance, in July 2023, BPEA EQT acquired 60% stakes in Indira IVF Hospital Pvt. Ltd from TA Associates for US$1.1 billion. Also, in May 2023, Morgan Health provided US$25 million to a fertility clinic network and benefits provider for employers of Kindbody that offers full-spectrum of reproductive care from preconception to postpartum through menopause.
Increasing fertility tourism
Rising cases of infertility and resulting increase in medical costs in the U.S. coupled with advancements in reproductive technologies abroad have increased the interest of fertility tourism. The fertility tourism market is expected to grow at 30% from 2021 to 2028 with US$400 million in 2021 worldwide. For instance, there is rising fertility tourism in Barbados due to evident cost differences. Egg freezing at the Barbados Fertility Clinic costs US$4,950, IVF is US$6,500 and genetic testing is US$2,000 vs the charges are US$25,000 for one round of IVF on the U.S. India is also one of the top destinations for commercial surrogacy and is expected to be worth US$445 million per year
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Where are the Market Opportunities?
Technological advancements
Increasing technological developments to enhance fertility is expected to trigger market growth. In May 2022, a research team led by the University of Adelaide with the support of the Australian Research Council and The Hospital Research Foundation Group, in partnership with Fertilis, presented a new micro-device to streamline the only fertility treatment procedure available for men with low sperm counts. The first-of-its-kind device will allow IVF clinics to offer Intracytoplasmic Sperm Injection (ICSI) as a treatment and help improve procedures such as embryo culture, embryo cryopreservation and in vitro maturation. The device entered the global clinical trials in 2022.
Furthermore, the latest advancements in fertility health focus on bringing clinical data and workflows to the digital era. Electronic systems using barcodes for tracking of sperm, eggs and embryos, robotic cryopreservation systems and artificial intelligence-led (AI) tools help advance reproductive health. Additionally, companies such as Alife Health focus on optimising patients’ IVF process, deliver optimal results and reduce the overall cost of care.
With advancements, the likelihood of at-home ultrasonography that can be self-administered and interpreted remotely by the physician is now a possibility.
Competitive Landscape
The major players operating in the Infertility Drugs & Devices market are Abbott Laboratories, Esco Micro Pte Ltd, Ferring BV, FUJIFILM Irvine Scientific, Hamilton Thorne, Merck KGaA, The Baker Company, The Cooper Companies, Inc., Thermo Fisher Scientific, and Vitrolife. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- In Nov 2023, Cooper Companies completed the purchase of a few Cook Medical assets, with a primary focus on the markets for gynaecological surgery, doppler monitoring, and obstetrics. US$300 million was the purchasing price, with US$ 200 million paid in full at closing, with the remaining US$ 100 million to be paid over two years in increments of US$ 50 million each.
- In June 2023, FUJIFILM Irvine Scientific, Inc., announced the addition of the Life Whisperer Genetics module to its Life Whisperer software package (launched in 2021), enabling non-invasive evaluation of embryo genetic integrity during in vitro fertilization (IVF). Life Whisperer Genetics used in conjunction with Life Whisperer Viability uniquely aids in the clinical selection of blastocysts that may have a greater likelihood of being euploid and resulting in pregnancy using a single platform.
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To find more Visiongain research reports on the Pharma sector, click on the following links:
- In-Vitro Fertilization (IVF) Market Report 2019-2029
- Assisted Reproductive Technology Market Forecast 2020-2030
- Artificial Insemination Market Forecast 2020-2030
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