Global Infertility Drugs and Devices Market, By Type (Infertility Drugs (Clomiphene citrate, Sex hormones, Gonadotropins, Bromocriptine, Cabergoline, Imipramine, Letrozole, Metformin), Infertility Devices (Equipment, Accessories)), By Gender (Male, Female), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as launch of new products, and this is expected to drive the global infertility drugs and devices market growth. For instance, In May 2022, Cook Medical, a medical device company that works with physicians to develop devices that are less invasive for patients, launched the next-generation MINC+ benchtop incubator in the U.S. and Canada. The latest version of MINC incorporates the DishTrace platform, which combines capabilities for a variety of dish-data management tools through the touchscreen interface and a PC software program. With DishTrace, users may monitor up to 50 MINC+ incubators, follow culture dishes as they are checked in and out of the incubator, access, and log information through the system's touchscreen, and generate and view graphical histories and reports of MINC+ activities.
Global Infertility Drugs and Devices 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 regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the global infertility drugs and devices market. For instance, according to the data published by PubMed Central in June 2022, it was reported that South Korea showed the greatest decline in the fertility rate among the entire Organisation for Economic Co-operation and Development (OECD) countries over the last 30 years. The article also stated that the Korean government recognized the importance of healthy pregnancy and childbirth under these circumstances and implemented policies to raise the low fertility rate and support childbirth at advanced maternal by implementing ‘The Fourth Basic Plan on Low Fertility and Aging Society’ in 2021. Hence, a low fertility rate would increase the demand for in vitro fertilization and will increase market growth.
Global Infertility Drugs and Devices Market: Key Developments
On April 26, 2023, DYU Healthcare is an initiative to provide a safe, supportive and comfortable space to women. With the advancement of medical science, has introduced Smart IVF technology that uses artificial intelligence and advanced algorithms to optimize the in-vitro fertilization (IVF) process. Smart IVF increases the chances of successful pregnancy and enables the highly trained fertility specialists to provide personalized treatment plans tailored to each patient’s unique needs.
In June 2020, Koninklijke Philips N.V., a technology company that develops and manufactures medical systems and consumer electronics products in Netherlands, announced the launch of Avalon CL Fetal and Maternal Pod and Patch, a remote monitoring device that allows continuous monitoring of maternal and fetal heart rate. This can be used in high-risk pregnancies by reducing physical interaction between patient and doctor, which was important during the pandemic.
In July 2020, Alteogen Inc., a biotech company that develops proprietary antibody-drug conjugate and antibody biosimilars, has signed a licensing agreement with Cristalia Produtos Quimicos Farmaceuticos Ltda. for ALT-P1, a persistent growth hormone for children. Under the accord, Cristalia will invest about KRW 50 billion (US$ 42.4 Billion) into conducting Phase II and III clinical trials in Brazil after producing the treatment's.
In July 2022, Bico Group, a bioconvergence startup that designs and supplies technologies and services to enhance biology research, partnered with permosens is developing first of its kind automated sperm diagnostic device JUNO-Checked that relies of their ability to bind to egg cell-proteins., Malmö University, and Saint Louis University (SLU) to develop a diagnostic device to identify male infertility.
In November 2022, The Ministry of Public Health in U.S., entered into a partnership with United Nations International Children's Emergency Fund (UNICEF), and launched the National Newborn and Prematurity Campaign to raise awareness on the importance of proper health care for newborns and premature babies and highlight the essential role of the family and health care providers.
In November 2021, Royal Philips is a health technology, announced new AI-enabled innovations in New born MR imaging software built in to automate tasks to help relieve the burden on radiology staff and Nursing departments launched at the Radiological Society of North America (RSNA).
Browse 38 Market Data Tables and 30 Figures spread through 180 Pages and in-depth TOC on “Global Infertility Drugs and Devices Market”- Forecast to 2030, By Type (Infertility Drugs (Clomiphene citrate, Sex hormones, Gonadotropins, Bromocriptine, Cabergoline, Imipramine, Letrozole, Metformin), Infertility Devices (Equipment, Accessories)), By Gender (Male, Female), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/infertility-drugs-and-devices-market-4122
Key Takeaways of the Global Infertility Drugs and Devices Market :
- The global infertility drugs and devices market is expected to exhibit a CAGR of 6.3% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global infertility drugs and devices market. High concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and an increasing number of infertility and PCOS cases in the United States are some of the factors driving the growth of the infertility drugs market in the country. For instance, as per the report published by the Centers for Disease Control and Prevention (CDC) in March 2020, PCOS is one of the most common causes of female infertility and it affects around 6.0% to 12.0% (approx 5.0 Billion) of women of reproductive age in the United States every year. Therefore such instances, indicate considerable growth of the market in the United States.
- Among Type, infertility drugs (clomiphene citrate, sex hormones, gonadotropins, bromocriptine, cabergoline, imipramine, letrozole, metformin segment is expected to hold a dominant position in the global infertility drugs and devices market during the forecast period and this is attributed to the awareness of fertility drugs. For instance,in August 2021, Merck Specialties Pvt ltd, the healthcare business of Merck in India, 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.
- Among region, North America is expected to be the dominant region in the global Infertility drugs and devices market, owing to the key players are focusing on spreading awareness about fertile health. For instance, on May 09, 2023, Small Vulnerable fertile Series was launched during the International Maternal Newborn Health Conference in Cape Town, South Africa. The event unpacked the five-article Lancet Series which explores the global importance and possibilities of preventing the birth of Small Vulnerable Newborns.
- 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.
