(I-BusinessNews.Com, May 30, 2021 ) Fertility Supplements Market size was valued at $ 1.95Billion by 2019 and is anticipated to grow at a CAGR of 7.8% during the forecast period 2020-2025. The Fertility Supplements Market growth rate is attributed to the declining fertility rates owing to the increase in the number of smokers along with the rising consumption of alcohol and caffeine is anticipated to bring new opportunities. Fertility supplements, which improve reproductive fertility, are fertility drugs. In women, fertility drugs are used to promote the growth of ovary follicles. There are very few fertility supplements available currently for men. The prevalence of smoking is higher in developed countries than in emerging economies. Even fertility treatments such as IVF is not helpful in conceiving for smoking women, which has prompted fertility manufacturers to look for ingredients that can eliminate the effects of smoking on fertility. This factor is anticipated to create growth opportunities for fertility supplement manufacturers over the forecast period 2020-2025.
Furthermore, there is growing adoption of herbal medicines (botanicals) owing to the increasing concerns about the harmful impacts associated with the traditional pharmaceutical drugs is poised to generate new opportunities for the fertility supplements manufacturers, leading to the growth of the fertility supplements industry. Various public initiatives to raise awareness regarding advancements in fertility supplements among consumers and its superior technology have helped the industry gain a further boost. However, the lack of awareness among the population of low-income economies is anticipated to restrain the growth of the global fertility supplements market.
Fertility Supplements Market Segment Analysis – By Product Type
On the basis of product type, capsules segment held the highest segmental revenue share in 2019 This can be attributed to the fact that these products enable unique mixes of ingredients, provide protection from sensitive ingredients, reduce gastrointestinal irritation, and ensure oil and fat-soluble nutrient delivery.
On the contrary, fertility supplement powder segment is projected to witness significant gains along the forecast period 2020-2025 on account of increasing awareness regarding the nutritional benefits associated with these products along with delicious tastes and easy incorporation in meals.
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Fertility Supplements Market Segment Analysis – By Distribution Channel
On the basis of distribution channel, the OTC segment accounted for the largest segmental revenue of the fertility supplements market in 2019 owing to the fact that the easy availability of raw materials, rising demand, and lenient regulations. In order to enter this highly competitive market, the companies need to focus on incorporating ingredients that have been regulated by the FDA and have undergone a significant number of clinical trials/studies.
However, the prescribed segment is poised to hold the highest growth rate with a CAGR of 7.89% over the forecast period 2020-2025. This is attributed to the fact that the manufacturers endorse their products by providing clinical evidence for the ingredients included rather than focusing on the finished product. Hence, companies such as Fairhaven, Lenus Pharma, and Gonadosan, Innovamed Ltd. have provided evidence from the clinical trials of their finished products, which has resulted in an increased demand for fertility supplements across the globe.
Fertility Supplements Market Segment Analysis – By Geography
Asia Pacific is the major region dominating the fertility supplements market with a market share of 42.16% in the year 2019 owing to the rising awareness in China and India regarding nutritional enrichment is poised to remain a favourable factor for regional growth. The expansion in retail market in emerging markets including China, Indonesia, Malaysia, and India in light of regulatory support to promote investments is estimated to increase the accessibility to buyers over the forecast period 2020-2025.
However, North America is projected to be the fastest-growing market during the forecast period 2020-2025 owing to the rising initiatives undertaken by Government and nonprofit organizations coupled with the increasing rate of obesity and sexually transmitted infections.
Fertility Supplements Market Drivers
Rising Awareness about Importance Overall Well-being among Consumers
The Fertility Supplements market is poised to receive upswing owing to the fact that lifestyle prevalent today does more harm to common man than ever before. According to the American Society for Reproductive Medicine, a considerable section of both men and women of reproductive age in the U.S. smoke cigarettes. Cigarette smoking has a harmful impact on the overall health and wellbeing of an individual. It also adversely impact their fertility. Even the latest technologies might find it difficult to help women conceive if she is exposed to excessive smoking. Rising awareness about the on-going situation, coupled with information on potential cures is set to expand the fertility supplements market.
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Fertility Supplements Market Challenges
Governmental policies and lack of awareness
Despite several drivers, government policies like ‘one-child-per-couple’ subjected to forced sterilizations or abortions is poised to hamper the growth of the market. Apart from this, the size of tablets is a drawback owing to their hardness these tablets are difficult to swallow and do not offer the dosing flexibility which is limiting the market growth. Furthermore, the lack of awareness among the population of low-income economies is anticipated to restrain the growth of the global fertility supplements market.
Fertility Supplements Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Fertility Supplements Market. In 2019, Fertility Supplements Market share is fragmented by the top ten players present in the market. Fertility Supplements Market top 10 companies are FUJIFILM Irvine Scientific, INVO Bioscience, Alabama Fertility, Shivani Scientific Industries Private Limited, IVFtech ApS, DHEA Fertility Nutritional Supplement, Coast Science, Ocean Healthcare Private Limited and others.
Acquisitions/Product Launches
In November 2017, FertilHerb has launched new women’s fertility supplement that has the capability to enhance female fertility and reproductive wellness in women. This launch of product in market has increased the operational efficiency of the company.
In January 2015, Fruitful Way Ltd. has launched natural fertility and conception toolkit. This is useful for couples or women who are trying to get pregnant as it includes a unique, science-backed dietary supplement, scientifically mated with a sophisticated fertility app. With this launch of the product, company has strengthened their product portfolio in the market.
Key Takeaways
Asia-Pacific dominated the Fertility Supplements Market with a share of 42.16% in the year 2019.
The factors such as declining fertility rates owing to the increase in the number of smokers along with the rising consumption of alcohol and caffeine are amongst the major factor projected to impel growth of Fertility Supplements Market.
The growing geriatric population, changing lifestyle, healthcare costs, medical discoveries, and innovation in food ingredients are the key factors resulting in the growth of the segment during the forecast period 2020-2025.
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