Market Trends of Fertility Supplement Industry
This section covers the major market trends shaping the Fertility Supplement Market according to our research experts:
E-pharmacy is Expected to Dominate the Fertility Supplement Market Over the Forecast Period
Over recent years, e-commerce has gained momentum with the rising popularity of shopping for products and services online, including medicines. Online pharmacies also have well-established distribution channels. They have been explored widely in developed markets and are steadily being adopted in emerging markets. Online drug distribution has many benefits. Disabled or homebound patients can purchase their medicines online and opt for home delivery. Shoppers relish a certain level of freedom of choice and privacy through online channels. The range of products is massive, and medicines can be easily researched and compared.
Due to the COVID-19 outbreak, consumers are opting to purchase medicines online to avoid crowded places. However, the rising number of illegal online pharmacies and counterfeit drugs negatively impacts the segment's growth. Therefore, governments and the private sector realized the importance of online channels and are implementing measures to improve visibility.
Many companies are adopting various business strategies such as product launches, acquisitions, and partnerships to maintain their market positions, which is also contributing to the market's growth. For instance, in March 2022, the online pharmacy Ro acquired Dadi, a sperm collection and testing start-up, for approximately USD 100 million. With this acquisition, Ro plans to strengthen its presence in the fertility supplements markets, especially for erectile dysfunction. In August 2020, Amazon launched an online pharmacy in Bangalore, India, with the increasing demand faced by online channels.
Hence, due to such factors, the e-pharmacy segment of the market is expected to grow significantly over the forecast period.
North America is Expected to Dominate the Fertility Supplements Market Over the Forecast Period
North America is expected to witness significant growth over the forecast period due to the increasing infertility rate among people and rising awareness among the population about overall health.
According to the data published by the CDC in December 2021, in the United States, 14.1% of married women between the ages of 15 and 49 years had impaired fertility, 13.1% of women had impaired fertility, and 6% of married women were found to be infertile. In the data published by the PRB in August 2021, it was observed that the fertility rate for women of all age groups in high and low-income countries are steadily declining.
According to the World Health Organization, infertility has become a common problem due to various factors, such as increased alcohol consumption and smoking, an increased number of obese people, and increased stress levels causing hormonal imbalances. The data published by the US HHS in January 2022 showed that 40.5% of males over the age of 20 years are obese, 15.3% of men over the age of 18 years smoke frequently, 30.9% of men over the age of 18 years consumed five or more drinks in a single day, and 51.9% of men over the age of 20 years have hypertension in the United States. As these factors are correlated with male and female infertility, most of the population in the region is inclined toward fertility supplements as they are a good source of micronutrients and help in fertility.
Thus, the declining fertility rate among women and an increasing number of infertile males are increasing the demand for fertility supplements, which may further boost the growth of the fertility supplement market during the forecast period.
