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Follicle Stimulating Hormone Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Follicle Stimulating Hormone Global Market
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According to The Business Research Company's, The follicle stimulating hormone market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased prevalence of hormonal disorders, growing demand for fertility treatment, expansion of fsh indications, market entry of new fsh products, growing demand for safe and effective contraceptive options.
The follicle stimulating hormone market size is expected to see steady growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to widening therapeutic applications, rising demand for combination therapy, growing need for effective contraceptive options, aging population and related healthcare needs, market expansion in key regions. Major trends in the forecast period include advanced biosimilar fsh products, regulatory approvals and market access, technological advancements in fsh production and delivery, growing need for effective contraceptive options.
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Market Drivers and Trends:
The increasing prevalence of infertility is expected to propel the growth of the follicle-stimulating hormone market. Infertility is a condition affecting the male or female reproductive system that is indicated by the inability to conceive after 12 months or longer of frequent, unprotected sexual contact. Follicle-stimulating hormone encourages the development of eggs in the ovaries and aids in regulating the menstrual cycle in females. It promotes testicular growth in men and aids in producing a protein essential for male fertility by promoting the development of healthy sperm cells. For instance, in April 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, infertility affected around 1 in 6 adults worldwide, or about 17.5% of the adult population. Furthermore, in October 2023, according to the Australian Bureau of Statistics, an Australia-based self-governing constitutional organization entrusted with gathering and analyzing information and making fact-based recommendations to the national, state, and territory governments, there were 300,684 recorded births in 2022, a 3% drop from 2021. The overall fertility rate for all Australian women was 1.63 births per woman. Therefore, the increasing prevalence of infertility is driving the growth of the follicle-stimulating hormone market.
Product innovations are a key trend gaining popularity in the follicle-stimulating hormone market. Major companies operating in the follicle-stimulating hormone market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2021, Merck Specialties Pvt. Ltd., an India-based healthcare company, introduced the Pergoveris Pen, aiming to enhance infertility treatment options in the country. The Pergoveris Pen is an innovative device that combines recombinant follicle-stimulating hormone (FSH) and recombinant luteinizing hormone (LH) in a convenient, pre-filled format. It is the first to combine these hormones within a pen injector. Designed for prescribed use by IVF specialists, the Pergoveris Pen offers a combination treatment solution specifically for women experiencing severe deficiencies in follicle stimulating hormone (FSH) and luteinizing hormone (LH).
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Major Key Players of the Market:
Pfizer Inc., Novartis AG, Abbott Laboratories, Sanofi S.A., Boehringer Ingelheim GmbH, Merck KGaA, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Cipla Ltd., Ferring Pharmaceuticals Inc., Lupin Limited, Zydus Lifesciences Limited, Livzon Pharmaceutical Group Inc., Emcure Pharmaceuticals Ltd., LG Chem's life sciences, IBSA Group, Bharat Serums and Vaccines Limited, Nihon Kohden Corp., Anhui Anke Biotechnology Group Co. Ltd., Taj Pharmaceuticals Ltd., Genpharm Inc., Cadwell Laboratories Inc., Creative BioMart, Electrical Geodesics Inc., Lee Biosolutions Inc., Trumac Healthcare, Midas Pharma GmbH, Biogenix Inc. Pvt. Ltd., Shanghai Techwell Biopharmaceutical Co. Ltd.
Follicle Stimulating Hormone Market 2024 Key Insights:
• The follicle stimulating hormone market size is expected to see steady growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• The Role Of Follicle-Stimulating Hormone In Addressing The Growing Prevalence Of Infertility
• Breakthrough In The Follicle-Stimulating Hormone Market For Enhanced Infertility Treatment
• North America was the largest region in the follicle stimulating hormone market in 2023
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