Thursday, May 30, 2024

Fertility Enhancing Treatment Market Expected to Reach USD 6.96 billion By 2027

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In 2019, the Global Market for Fertility Enhancing Treatments reached a size of USD 4.62 billion, and it is projected to attain USD 6.96 billion by 2027, demonstrating a Compound Annual Growth Rate (CAGR) of approximately 5.5% during the forecast period.

The expansion of the fertility enhancement treatment market is primarily propelled by factors such as the global decline in fertility rates, an increase in the number of clinics addressing this issue worldwide, technological advancements, and growing public-private investments in the market.

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Infertility, characterized by the inability to achieve pregnancy, is on the rise. Fertility rates, which measure the average number of children per woman, are steadily decreasing globally due to various factors such as delayed marriages, conception at a later age, and rising age-related infertility. Projections indicate a decline in global fertility rates from 2.4 children per woman in 2030 to 2.2 children per woman in 2050. This downward trend has led to a substantial surge in the demand for fertility enhancement devices catering to both males and females to extend the conception window.

Apart from surgeries, numerous Assisted Reproductive Technology (ART) procedures, including in vitro fertilization (IVF), are performed annually worldwide. The cost of IVF treatment varies across countries due to a lack of reimbursement policies. The average cost of a single IVF cycle is USD 12,000, excluding medication expenses; if a couple undergoes three cycles, the total out-of-pocket cost amounts to USD 33,000. In developing countries like India, the average cost of one IVF cycle is nearly USD 1,086, inclusive of medications. Therefore, the high cost of assisted reproductive techniques, coupled with a lack of insurance coverage in developed countries, hinders the market’s growth.

The fertility enhancement treatment market is segmented based on treatment type, gender, distribution channel, and geography. Treatment types include drugs for women and men. Gender-wise segmentation distinguishes between male and female populations. Distribution channels encompass hospital pharmacy, retail pharmacy, drug stores, and e-commerce.

Regionally, the global fertility enhancement treatment market is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America takes the lead, driven by lifestyle changes, product innovations, and early treatment adoption. Europe stands as the second-largest market due to development activities and a robust research base. The Asia Pacific market is poised for significant growth due to sedentary lifestyles, rapid population expansion, a large target patient pool, the adoption of Western lifestyles, and increased research and development.

Key players in the fertility enhancement treatment market include Monash IVF, CooperSurgical Inc., Vitrolife AB, Merck & Co. Inc., Ferring Pharmaceuticals, Halotech DNA, IntegraMed America, Inc., and others.

The report further breaks down segments by treatment, gender, distribution channel, and region, providing detailed revenue insights for the years 2017-2027.

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