Global Human Reproductive Technologies Market, By Technology (Infertility Drugs and Contraceptive Drugs and Devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launch and partnerships, which will drive the global human reproductive technologies market over the forecast period. For instance, in August 2021, Merck KGaA, a multinational pharmaceutical company, launched Pergoveris Pen for advanced infertility treatment in India. This launch emphasizes the company’s motive of fulfilling unmet medical needs by providing an improved, convenient, and ready-to-use combination treatment option for women with a severe follicle-stimulating hormone (FSH) and luteinizing hormone (LH) deficiency.
Global Human Reproductive Technologies Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global human reproductive technologies market due to fewer patients accessing the medical facilities at a lower market charge as a result of lower demand. Post-pandemic impact of COVID-19 on the assisted reproductive technology market with enhanced growth rate and enhanced consultation and treatment involved in infertility helps to boost the market of assisted reproductive technology. For instance, in November 2022, according to an article published in the Journal of European Society of Human Reproduction and Embryology, the COVID-19 pandemic, as well as the pandemic-related increased waiting time to start fertility treatment, has caused further anxiety, stress and sorrow among infertility patients. Especially the uncertainty regarding how long ART (Assisted reproductive technologies) treatments would be suspended, how the pandemic would evolve, and how it would affect fertility treatment and pregnancy increased the psychological toll on patients. The need for global human reproductive technologies intensified following the pandemic.
Global Human Reproductive Technologies Market: Key Developments
On May 15, 2023, Merck KGaA, a multinational pharmaceutical company, launched a new initiative, Fertility Counts, which seeks to address the social, economic and societal challenges associated with low birth rates in the Asia Pacific (APAC) region. The initiative is designed to provide research and resources to support policymakers to identify policy interventions that will be effective in building family-friendly societies.
In January 2021, Koninklijke Philips N.V., a health technology company, focused on improving people's health and well-being through meaningful innovation announced a multi-year partnership with Merck KGaA, a multinational pharmaceutical company, to develop clinical-grade digital solutions for highly personalized fertility treatment. Leveraging digital health technologies, advanced informatics and mobile, AI-enabled ultrasound diagnostics, these solutions will aim to better inform patients and clinicians about the choice and timing of fertility treatment to maximize the chances of conception.
On April 25, 2023, Cryoport Systems, LLC., a global provider of innovative temperature-controlled supply chain solutions for the life sciences, reproductive medicine and animal health industries, announced that it has signed a new three-year agreement with Boston IVF, a pioneer in reproductive healthcare and innovative research and one of the world's most experienced fertility treatment providers.
In February 2021, TMRW Life Sciences, Inc., a life sciences technology company setting new standards for transparency, safety, and accountability in IVF and cell management, announced the launch of the first automated cryo specimen management solution which is first-of-its-kind across the globe. The solution is meant for embryos and eggs that are used during IVF. The solution is installed across various premium-grade facilities in the U.S. With this, the company has managed to take a step toward digital management of embryos and eggs.
Browse 32 Market Data Tables and 27 Figures spread through 176 Pages and in-depth TOC on “Global Human Reproductive Technologies Market, By Technology (Infertility Drugs and Contraceptive Drugs and Devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/human-reproductive-technologies-market-3921
Key Takeaways of the Global Human Reproductive Technologies Market:
- The global human reproductive technologies market is expected to exhibit a CAGR of 2.6% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the global human reproductive technologies over the forecast period.
- Among technology, the contraceptive drugs and devices segment is expected to growth in the global human reproductive technologies market over the forecast period owing due to the fact that oral contraceptives are the industry's simplest method of contraception, easy access to a variety of products, high awareness of contraceptive medications and technologies, and an ease mode of administration. For instance, in April 2021, Mayne Pharma Group Limited, a pharmaceutical company focused on commercializing novel and generic pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) has approved NEXTSTELLIS (3 mg drospirenone [DRSP] and 14.2 mg estetrol [E4] tablets) for the prevention of pregnancy. NEXTSTELLIS is the first and only contraceptive pill containing E4, a naturally occurring estrogen, now produced from a plant source, with a unique mechanism of action that offers potential advantages over other estrogens.
- Among region, the North America is expected to dominate the global human reproductive technology market over the forecast period owing to the rise in infertility rates due to high obesity rates, the rising age of conceptions, and changes in lifestyle are stimulating the growth of the region. For instance, on April 26, 2023, according to Centre for Disease Control and Prevention, in the S., among married women aged 15 to 49 years with no prior births, about 1 in 5 (19%) are unable to get pregnant after one year of trying (infertility). Also, about 1 in 4 (26%) women in this group have difficulty getting pregnant or carrying a pregnancy to term (impaired fecundity).
- 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.
