HUMAN REPRODUCTIVE TECHNOLOGIES MARKET ANALYSIS

The global human reproductive technologies market is estimated to be valued at US$ 31 Billion in 2023 and is expected to exhibit a CAGR of 2.6% during the forecast period (2023-2030).

Analysts’ Views on Global Human Reproductive Technologies Market:

Over the course of the forecast period, rising rates of maternal mortality, rising population, and more attention to family planning are anticipated to drive the global market for human reproductive technology. Over the forecast period, it is anticipated that key players' emphasis on expansion strategies, including joint ventures and acquisitions, will benefit the global market for human reproductive technologies. For instance, on March 20, 2023, INVO Bioscience, a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell medical device and IntraVaginal Culture ("IVC") procedure it enables, announced it has signed binding agreements to acquire Wisconsin Fertility Institute, pre-eminent fertility center. The Madison-based fertility center primarily offers conventional (In-vitro Fertilization) IVF procedures and generated approximately US$ 5.5 million in revenue and net income of approximately US$ 1.9 million for the trailing 12-month period.

Figure 1. Global Human Reproductive Technologies Market Share (%), By Technology, 2023

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Global Human Reproductive Technologies Market– Drivers

Increasing prevalence of maternal mortality

Increasing prevalence of maternal mortality is expected to boost growth of the global human reproductive technologies market over the forecast period. For instance, On February 22 2023, according to the World Health Organization (WHO), every day in 2020, almost 800 women died from preventable causes related to pregnancy and childbirth, and about 287,000 women died during and following pregnancy and childbirth in 2020. Almost 95% of all maternal deaths occurred in low and lower middle-income countries, such as Sub-Saharan Africa and Southern Asia in 2020.

Increase prevalence of infertility

Increasing prevalence of Infertility is expected to drive the global human reproductive technologies market over the forecast period. For instance, on April 04, 2023, according to WHO, around 17.5% of the adult population– roughly 1 in 6 worldwide, experience infertility, showing the urgent need to increase access to affordable, and high-quality fertility care and lifetime prevalence was 17.8% in high-income countries, such as U.S. and 16.5% in low- and middle-income countries, such as Southern Asia.

Figure 2. Global Human Reproductive Technologies Market Share (%), By Region, 2023

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Global Human Reproductive Technologies Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global human reproductive technologies market over the forecast period. North America is estimated to hold 42.5% of the market share. The North America human reproductive technologies market is expected to witness significant growth in the coming years, driven by factors, such as the increasing prevalence of maternal mortality and decreasing birth rate.  Thus, the rise in human reproductive technologies market growth over the forecast period. For instance, on March 16, 2023, according to the Centers for Disease Control and Prevention (CDC), in 2021, 1,205 women died of maternal causes in the U.S. compared with 861 in 2020 and the maternal mortality rate for 2021 was 32.9 deaths per 100,000 live births, compared with a rate of 23.8 in 2020.

 Global Human Reproductive Technologies Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease 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 are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global human reproductive technologies market owing to the reduced patients visiting the health care centers at a reduced market rate due to fewer demands. For instance, on April 11 2023, according to an article published by (NYU) New York University Langone Hospitals, post-pandemic compared to the 2020 year, there were 18 fewer births per 100,000 women of reproductive age in the U.S. However, after the second wave in 2021, fertility fell by roughly 9 monthly births per 100,000 women, which was similar to the rate at which national fertility had been decreasing before the pandemic.

Global Human Reproductive Technologies Market Segmentation:

The global human reproductive technologies market report is segmented into by technology, and by region.

Based on Technology, the global human reproductive technologies market is segmented into infertility drugs, and contraceptive drugs and devices. Out of which, the contraceptive drugs and devices segment is expected to dominate the global human reproductive technologies market during the forecast period and this is due to the increase in the usage of contraceptive drugs and devices as oral contraceptives is providing ease of mode of administration.

Based on Region, global human reproductive technologies market is segmented into the North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of maternal mortality, increasing population, and increasing focus on family planning.

Among all the segmentations, the technology segment has the highest potential owing to the various growth strategies such as collaboration as well as acquisitions over the forecast period. For instance, on February 27, 2023, Dr. Reddy's Laboratories SA, wholly-owned subsidiary of Dr. Reddy’s Laboratories Ltd, an Indian-based multinational pharmaceutical company, announced that it has entered into a definitive agreement to acquire the U.S. generic prescription product portfolio of Salisbury, Australia, based Mayne Pharma Group Limited, a pharmaceutical company focused on commercializing branded and generic pharmaceuticals. The portfolio includes approximately 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women’s health. Approved high-value products include a hormonal vaginal ring, a birth control pill, and a cardiovascular product. Under the terms of the agreement, Dr. Reddy’s Laboratories Ltd will acquire the portfolio for an upfront payment of approximately US$ 90 million in cash, contingent payments of up to US$ 15 million, consideration towards inventory and credits for certain accrued channel liabilities to be determined on the closing date.

Global Human Reproductive Technologies Market- Cross Sectional Analysis:

Rising incidence of maternal mortality, increasing population, and increasing family planning led to the increase demand for the infertility drugs, and contraceptive drugs and devices and this is expected to boost demand for human reproductive technologies market in North America region. For instance in May 2021, according to the Guttmacher Institute, in 2020, 60% of U.S. women aged 15–49 were using a contraceptive method and of sexually experienced U.S. women aged 15–44 have used at least one contraceptive method.

 Global Human Reproductive Technologies Market: Key Developments

In July 2022, Organon group of companies, a global women’s healthcare company, and Cirqle Biomedical, a biotech company developing a non-hormonal contraceptive technology for women based on the principles of mucus engineering, announced they have entered into a research collaboration and exclusive license agreement for a novel investigational non-hormonal, on-demand contraceptive candidate.

In June 2022, Inception Fertility LLC, a tech-enabled company with a steadfast focus on improving the patient experience through a growing ecosystem of integrated fertility brands, has expanded its ecosystem to include the launch of HavenCryo, a long-term reproductive tissue and cryopreservation storage solution that offers a unique experience for fertility providers and patients. HavenCryo offers the most advanced cryopreservation available, paired with state-of-the-art storage equipment and industry-leading security technologies, allowing patients to store their reproductive tissues for as long as they need.

On March 28, 2023, Cryoport, Inc., a global provider of innovative temperature-controlled supply chain solutions for the life sciences industry and in supply chain solutions for the reproductive medicine markets, announced a multi-year agreement with Inception Fertility LLC, the tech-enabled company with a steadfast focus on improving the patient experience through a growing ecosystem of integrated fertility brands. Through this three-year partnership, Prelude Fertility, Inc., which is operated by Inception Fertility LLC in North America and MyEggBank, most diverse networks of donor egg banks in North America will continue to utilize Cryoport, Inc., end-to-end supply chain solutions for egg and embryo shipments across their clinical networks to ensure significant risk mitigation for families using these services.

In August 2021, Virtus Health, a global Assisted Reproductive Services (ARS) provider, announced that it has entered into a share sale agreement to acquire Adora Fertility and three day hospitals from Australia-based healthcare company, Healius Limited, an Australia-based healthcare company for US$ 45 million.

 Global Human Reproductive Technologies Market: Key Trends

Increasing population

Increasing population lead to the increase usages of reproductive health technologies which is expected to propel the growth of global human reproductive technologies market over the forecast period. For instance, in November 2022, according to U.S., World Population Prospects 2022, estimated that the global population could grow to around 8.5 billion in 2030, 9.7 billion in 2050 and 10.4 billion in 2100, which will provide a lucrative growth opportunities for the key players in the market.

Partnership by Market key Players

The key market players are focusing on the various strategies such as partnership as well as acquisitions is expected to propel the market growth over the forecast period. For instance, in November 2021, Organon group of companies, a global health care company and Forendo Pharma, a developer of novel drugs intended for the treatment of urological and other endocrinological diseases, announced that the companies have entered into a definitive agreement, under which Organon will acquire Forendo, a clinical-stage drug development company focused on novel treatments in women’s health. Forendo is pioneering the science of intracrinology, addressing disease through a novel, tissue-specific approach. Its lead clinical compound is an investigational, potentially first-in-class oral 17β-hydroxysteroid dehydrogenase type 1 (HSD17B1) inhibitor in early clinical development for endometriosis, being evaluated for its potential effect on endometriotic lesions. Endometriosis is a common and chronic condition that affects up to 1 in 10 women of reproductive age, causes abdominal pain and is associated with infertility.

Global Human Reproductive Technologies Market: Restraint

High costs of IVF (In-vitro fertilization)

Due to the high cost of IVF, market expansion is expected to be hampered which is expected to restrict the market growth over the forecast period. So, to avoid the high cost of IVF, the use of alternative Non-IVF therapies such as intrauterine insemination (IUI), gonadotropins etc. can be preferable. For instance, in September 2022, according to an article published by Verywell Family, according to the American Society of Reproductive Medicine, the average cost for one in vitro fertilization (IVF) cycle is more than US$ 12,000. However, prices vary significantly and basic IVF can be as much as US$ 25,000 or may be as low as US$ 10,000.

 Global Human Reproductive Technologies Market- Key Players

Major players operating in the global human reproductive technologies market include Abbott, Evofem Biosciences, Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Perrigo Company plc., Uniprix, Lupin, Sandoz International GmbH, Aurobindo Pharma, Bayer AG, Lilly, GSK plc., Mankind Pharma, Church & Dwight Co., Inc., and Pfizer, Inc.

*Definition: Human reproductive technologies include, Assisted Reproductive Technology (ART), prognostics, contraception, and same-sex procreation. ART aids in the treatment of low fertility or infertility using artificial insemination, artificial reproduction, cloning, cytoplasmic transfer, fertility medication, hormone treatment, and others. For the treatment of infertility, assisted reproductive technology (ART) is used. It covers sperm and egg handling fertility procedures. It functions by taking eggs out of the ovaries. Embryos are created by mixing sperm and eggs.