Human Reproductive Technologies Market to Reach $37.2 Billion, Globally, by 2030 at 2.6% CAGR: Coherent Market Insights (CMI)
Human Reproductive Technologies, also known as Assisted Reproductive Technology (ART), encompass a range of fertility treatments designed to address challenges in conceiving children.
/EIN News/ -- Burlingame, July 24, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global human reproductive technologies market is estimated to be valued at US$ 31.0 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:
Increasing prevalence of maternal mortality, increasing population, and increasing focus on family planning is expected to fuel the global human reproductive technologies market over the forecast period. This tend market players to focus on growth strategies such as collaboration as well as acquisitions to meet the demand and this is also expected to boost the global human reproductive technologies market over the forecast period. For instance, in February 2022, The Cooper Companies Inc., a global medical device company, announced that it has signed a binding letter of intent to acquire Cook Medical’s Reproductive Health business, a manufacturer of minimally invasive medical devices focused on the fertility, obstetrics and gynecology markets. Cooper will pay approximately US$ 875 million comprised of US$ 675 million at closing and US$ 200 million paid in four US$ 50 million annual installments.
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Global Human Reproductive Technologies Market- Driver
Rising In-vitro fertilization (IVF)
The IVF procedures is expected to propel the global human reproductive technologies market over the forecast period, due to the high procedural success rate and continuous advancement. For instance, in July 2021 , According to an article published by The Indian Express Ltd, titled "Growth Trajectory of Fertility Segment in India," between 2 and 2.5 lac IVF procedures are performed in India each year, and the fertility industry in India has shown a 20% compound annual growth rate over the past five years. As a result, the in-vitro fertilization is expected to grow significantly during the forecast period.
Global Human Reproductive Technologies Market- Restraint
Product recall from key players as well as regulatory bodies
Certain factors such as product recall from key players is also slated to hinder market expansion and is expected to hinder the growth of the global human reproductive technologies market during the forecast period. For instance, on May 07, 2023, Sun Pharmaceutical Industries Ltd., an India-based multinational pharmaceutical company, recalled 24,194 prefilled syringes of Fyremadel, which is used to treat infertility in women, from the U.S. market due the presence of visible particulate matter (a piece of glass was found in a prefilled). So, the company had decided to compensate the consumers, after visible particulate is seen.
Global Human Reproductive Technologies Market- Opportunity
Research and Development in male birth control pill
Research and Development in male birth control pill is expected to provide an opportunity for the market key players to enhance the product portfolio by research and development in male birth control pill over the forecast period. For instance, on February 14, 2023, according to an article published in the Journal of Nature Communication, an experimental contraceptive drug candidate developed by Weill Cornell Medicine investigators temporarily stops sperm in their tracks and prevents pregnancies in preclinical models.
Human Reproductive Technologies Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 31 Bn | |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 2.6% | 2030 Value Projection: | US$ 37.2 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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 | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Human Reproductive Technologies Market- Cross Sectional Analysis:
Among Technology, the contraceptive drugs and devices segment is dominant during the forecast period in North America region due to the increasing prevalence of maternal mortality, and increasing population which is expected to drive segment growth over the forecast period. For instance, in June 2021, as per the U.S. Department of Health & Human Services, an estimated 10% of women (6.1 million) in the United State are unable to conceive. Moreover, easy access to quality healthcare and favorable reimbursement policies are projected to promote revenue growth in North America.
Global Human Reproductive Technologies Market Segmentation:
The global human reproductive technologies market report is segmented into technology, and 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 segmentation, 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, in September 2020, Selexis SA, a JSR Life Sciences Company, is the global player in cell line development with best-in-class modular technology and highly specialized solutions that enable the life sciences industry to rapidly discover, develop and commercialize innovative medicines and vaccines, and Igyxos, Inc., a biotech startup developing a new treatment for female and male infertility that works by shifting hormal imbalances announced that it had entered into a service agreement to develop Igyxos, Inc. first-in-class monoclonal antibody (mAb) drug candidate for the treatment of human infertility. Under the agreement, Igyxos will utilize Selexis’ proprietary SUREtechnology Platform to rapidly develop the research cell banks (RCBs) necessary to advance the program to human trials.
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Global Human Reproductive Technologies Market: Key Developments
In May 2021, Gulf Capital, a growth markets alternative investment firm, announced its two-year growth plans for (Assisted reproductive technologies) ART Fertility Clinics, the growing provider of fertility treatment services in the Gulf Cooperation Council (GCC) states. With increased awareness coupled with the technological advancements in the field, the fertility sector in India is forecasted to continue to grow at 12%+ CAGR annually over the next five years. The new chapter of ART Fertility Clinics will see the implementation of an ambitious two-year rollout of 18 IVF clinics across India.
In July 2022, Perrigo Company plc., a global provider of Consumer Self-Care Products, announced that HRA Pharma, a Perrigo company, has submitted its application to the U.S. Food and Drug Administration (FDA) for the first-ever over-the-counter (OTC) birth control pill in the U.S. The company has applied for an Rx-to-OTC switch for Opill, a progestin-only daily birth control pill (also referred to as a mini pill or non-estrogen pill).
In January 2021, CooperSurgical, Inc., a fertility and women's healthcare company acquired Embryo Options, a prominent player in cryo-storage software solutions for fertility clinics. Embryo Options platform will aid the patients by giving access to its online resources to provide knowledge about stored specimens for future ART treatment cycles.
In July 2021, Hamilton Thorne, Inc., a global provider of ART research acquired IVFTECH ApS (IVFtech) and its associated firm, K4 Technology ApS. IVFtech is dedicated to providing laminar flow workstations and huge-capacity incubators for the ART with the aid of its associated firm, K4.
Key Market Takeaways:
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 September 2022, Governor Gretchen Whitmer, announced that pharmacists in the State of Michigan are eligible to prescribe hormonal birth control in partnership with doctors. This action from the Michigan Department of Licensing and Regulatory Affairs (LARA) offers women easier access to birth control and provides them greater freedom to plan their families.
Competitive Landscape:
Key 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.
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Detailed Segmentation:
Global Human Reproductive Technologies Market, By Technology:
- Infertility Drugs
- Contraceptive Drugs and Devices
Global Human Reproductive Technologies Market, By Region:
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North America
- By Country:
- U.S.
- Canada
- By Country:
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Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
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Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
-
Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
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Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
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Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
Related Market Intelligence Reports:
Infertility Devices Market, by Product Type (Equipment (Imaging Systems, Sperm Analyzer Systems, Ovum Aspiration Pumps, Micromanipulators Systems, Incubators, Gas Analyzers, Laser Systems, Cryosystems) (Accessories)) by Procedure (Assisted Reproductive Technology, Artificial Insemination, Fertility Surgery, Others) By Gender (Male, Female) by End User (Fertility Centers, Hospitals & Surgical Clinics, Cryobanks) Others by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
Human Microchipping Market, By Application (Medical identification and monitoring, Personal identification and access control, Financial transactions, Others (such as tracking, monitoring, etc.)), By Type (Implantable microchips, Non-implantable microchips), By Technology (RFID (Radio Frequency Identification), NFC (Near Field Communication), Others (such as GPS, QR codes, etc.)), By End User (Healthcare, Financial services, Retail and logistics, Government and law enforcement, Others (such as education, entertainment, etc.)), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
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