According to FutureWise analysis the market for infertility drugs and devices in 2023 is US$ 7.6 billion, and is expected to reach US$ 12.6 billion by 2031 at a CAGR of 6.52%.
Infertility refers to the inability to conceive after a year of trying. Treatments include drugs, assisted reproductive technology (ART), surgery, artificial insemination, and in vitro fertilization.Over the projected period, the worldwide infertility medications and devices market is predicted to rise due to the rising prevalence of infertility. In the United States, for example, 15.5 percent of all women who wish to become pregnant and 6.7 percent of married women aged 15 to 44 years are infertile, according to the National Survey of Family Growth statistics published in September 2018.
The market's expansion is projected to be hampered by a lack of insurance coverage for ART. In many countries, ART is a relatively new and unproven procedure. Insurance companies are hesitant to reimburse expenditures because of this situation. In Canada, for example, there are limited funds for IVF and intracytoplasmic sperm injection, thus infertile couples must foot the bill. The typical cost of infertility treatment in Canada is fairly high, ranging from $10,000 to 20,000 dollars.Furthermore, the increasing frequency of sexually transmitted infections among erectile dysfunction medication users is projected to stymie market expansion.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Infertility Drugs and Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Infertility Drugs and Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.