According to Coherent Market Insights, the global clomiphene citrate market is estimated to be valued at US$ 10.02 million in 2020 and is expected to exhibit a CAGR of 5.4% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Clomiphene Citrate Market:
The increasing government initiatives to treat infertility is expected to drive growth of the clomiphene citrate market over the forecast period. For instance, in December 2015, the Ontario (Canada) government launched the Ontario Fertility Program, which provides funding to help individuals with infertility. The Ontario Fertility Program gives access to funded fertility services is available for all forms of infertility (including medical and non-medical infertility), regardless of gender, sexual orientation or family status.
Furthermore, key players are focused on creating awareness about infertility and increasing their customer base. For instance, in January 2016, Cipla Ltd. started educating people by spreading awareness from their company’s official website regarding the factors that are responsible for infertility in men and women.
Major players operating in the market are engaged in adopting inorganic growth strategies such as mergers and acquisitions to increase their global presence. For instance, in 2019, Avet Pharma Labs Inc., a subsidiary of Emcure Pharmaceuticals, acquired a portfolio of 23 abbreviated new drug applications (ANDAs), covering 17 product families, in order to launch them in the U.S. market. All the products have been previously approved by the U.S. Food and Drug Administration (FDA) and had been manufactured under a supply agreement with a third party.
Key Market Takeaways:
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The global clomiphene citrate market is expected to exhibit a CAGR of 5.4% during the forecast period (2020-2027), owing to increasing prevalence of PCOS in women. For instance, according to article published in 2014 in Clinical Epidemiology, polycystic ovarian syndrome affects 8% to 20% of the reproductive-age women, globally. According to the World Health Organization, in 2012, polycystic ovarian syndrome affected 116 million women, worldwide.
Asia Pacific clomiphene citrate market is expected to increase over the forecast period, owing to the rising prevalence of infertility in the region. Economies such as China, Japan, Malaysia, and others are expected to be potential markets for clomiphene due to high prevalence of infertility in couples in these countries. For instance, according to a report ‘Fertility trends in Asia: A Snapshot’ published in Merck’s Website in May 2019, couples in Asia Pacific region are marrying late and the birth rates are declining due to the rising age of the couples. Most countries in the region are already below the birth rate of 2.1 to 1.3 children per woman.
Competitive Landscape:
Key players operating in the global clomiphene citrate market include Sanofi S.A., Par Pharmaceutical, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Cipla Inc., Unichem Laboratories Ltd., Emcure Pharmaceuticals Ltd., Serum Institute of India Pvt. Ltd., Incepta Pharmaceuticals Ltd., and Shanghai Trifecta Pharma Co. Ltd.
Source: Business Wire
