Infertility Drugs Market Size, Share & Trends Analysis Report By Drug Class (Gonadotropins, Aromatase Inhibitors, SERMs, Dopamine Agonists) By End-user (Men, Women), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030
Infertility Drugs Market Growth & Trends
The global infertility drugs market size is expected to reach USD 5.6 billion by 2030 expanding at a CAGR of 6.1% from 2023 to 2030 according to a new report by Grand View Research, Inc. The market seems to be saturated with fewer opportunities for new entrants. The companies including Merck & Co. Inc., Ferring B.V., and Organon group of companies holds majority of market share. Thus, the pharmaceutical companies are focusing on developing biosimilar of gonadotropins for market penetration. For instance, Qilu Pharmaceutical Co., Ltd. focuses on developing QL1012, a recombinant human follicle stimulating hormone which is under phase 3 clinical trial. Successful completion of of trial and subsequent launch is anticipated to drive market.
Increasing initiatives undertaken by public and private organizations to support patients living with infertility are expected to positively contribute to infertility treatment market growth. For instance, in March 2022, the French government introduced new IVF law under which single women and same sex-couple avail treatment free of cost under the country’s national healthcare system.
In addition, in November 2022, Saudi Arabia’s Health Insurance Council conducted studies with regard to the inclusion of medicines under medical insurance coverage. The successful completion of the study and inclusion of medication under insurance is anticipated to increase patient access to treatment, subsequently, increase demand for medicines over the forecast period.
Rising awareness about disease and its available medicines among patients and physicians is anticipated to increase the target population for the market. For instance, in September 2021, Mubadala Health and United Eastern Medical Services (UEMedical) organized the ‘3rd HealthPlus Middle East Fertility Conference with an aim to rise awareness about the advancements in the treatment of this conditions and its benefits among physicians and patients in Dubai.
Moreover, there are several initiatives undertaken by the national government worldwide to tackle low fertility rate issues and promote childbirth which may increase the demand for drugs. For instance, in August 2022, the South Korean Government announced a provision for a monthly allowance of USD 740 per new child born in the family with an aim to tackle the low fertility rate in the country and encourage childbirth.
Infertility Drugs Market Report Highlights
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