In this article, we will be taking a look at the 30 most fertile countries in the world heading into 2024. To skip our detailed analysis, you can go directly to see the 5 most fertile countries in the world heading into 2024.

The fertility rate is one of the most important indicators for countries and global bodies to assess future requirements and resource allocation, and in this respect, both really high and really low fertility rates can have devastating consequences. While we'll discuss the negative impact of high fertility rates as we further talk about the most fertile countries in the world heading into 2024, we'll first consider the impact of low birth rates in countries such as Japan and South Korea.

A cultural shift has led to younger people in Japan balking at the thought of marriage or starting a family, especially due to concerns regarding job opportunities and the income needed to sufficiently support a family. At the same time, Japan's high life expectancy (it has the second highest life expectancy in the world in 2023) has led to it being home to a more aging population which has brought a myriad of problems to the country. The healthcare system in the country has struggled immensely to provide the necessary care needed for an increasingly aging population while economic growth has also suffered. The decline in labor force has of course, negatively impacted the economy and will continue to do so unless a major shift takes place. While Japan is encouraging its residents to have kids and is providing support to people starting a family, if the policy is not successful, there may be more repercussions in the future. This is why there are several companies operating in the fertility space and offering scientific solutions to improve the chances of a successful birth. Even in the United State, there are several such companies aiming to provide couples with solutions on having a child even if they are unable to conceive naturally.

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One such company operating in the fertility space is Progyny, Inc. (NASDAQ:PGNY) which offers over 900 fertility specialists which provide information on different topics relating to fertility. Progyny, Inc. (NASDAQ:PGNY) has seen its share price rise by nearly 10% YTD 2023 and has demonstrated exceptional growth in recent results, as mentioned in the company's Q2 2023 earnings call, where it stated "We're pleased to report that Progyny had a very solid second quarter, highlighted by record quarterly revenue of $279 million or 43% growth over the second quarter of 2022. The strength in this quarter's result reflect that member activity continues to be healthy, further affirming not only the essential nature of fertility care but also the strong desire amongst members to pursue the appropriate medical treatments they need in order to realize their family-building goals..... Last month, the CDC released its annual outcomes data on the fertility industry in the US, reflecting treatments completed through the end of '21. For the seventh straight year, Progyny has significantly outperformed the national averages across every relevant benchmark for success. As a reminder, Progyny is the only solution that is doing comprehensive outcomes reporting, reflecting virtually every treatment for every member across all relevant metrics. You will see these results reported in our second quarter 10-Q. Since launching our solution in 2016, we've consistently achieved higher pregnancy rates, higher live birth rates, lower rates of miscarriages and significantly fewer multiple births. Our superior clinical results not only create a better member experience as they ensure members avoid unnecessary treatments and painful complications, they also drive cost containment for our clients given that Progyny members on average require fewer treatments in order to get to the desired outcome of a healthy baby."

Progyny, Inc. (NASDAQ:PGNY) was also highlighted by Polen U.S. Small Company Growth Strategy, which made the following comment about Progyny, Inc. (NASDAQ:PGNY) in its second quarter 2023 investor letter:

“The top contributors to the Portfolio’s relative performance in the second quarter included AppFolio, Goosehead Insurance, and Progyny, Inc. (NASDAQ:PGNY). Finally, Progyny, a provider of fertility benefits to self-insured companies, continues to deliver powerful results headlined by 50% YoY revenue growth and 87% YoY adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growth. Concerns about the impact of significant tech layoffs on their business have been put to rest, as the secular tailwind around the demand for high-quality fertility and family-building care remains very much intact. The combination of these powerful secular tailwinds and the company’s industry diversification efforts over the last few years has translated into sustained and resilient growth in the face of macro uncertainty.”

At the other end of the spectrum are the most fertile countries in the world heading into 2024, most of which are located in Africa, a region already suffering from poverty and a low standard of living. Extremely high birth rates simply add more pressure on the economy as the resources needed to improve the standard of living far outweigh the economy of such nations. This is one of the reasons why countries with higher fertility rates also face greater instances of starvation and malnutrition.

To combat this, many companies and governmental bodies are starting programs and encouraging family planning. Unfortunately, birth control and family planning are strongly linked to religious and traditional values, which makes it harder to be effective especially in the most fertile countries in the world which generally have strong religious and traditional connotations. Many countries have banned outright medical processes such as abortion hence, have removed a safe way to avoid having children if the family doesn't want to.

However, to provide for the ever-increasing contraceptive market, said to be worth around $28 billion and expected to grow at a CAGR of 6% till 2030, many companies are aiming to carve out their presence in this industry. One of the most well-known contraceptive brands is Durex, manufactured by Reckitt Benckiser group and part of their Wellness Care portfolio. Durex is the top-selling condom brand in the world and extremely important to the overall performance of Reckitt Benckiser, who mentioned its performance in the company's Q2 2023 earnings report, stating "Our Health business has had a strong first half, delivering 8.8% like-for-like net revenue growth and high 20s adjusted operating margins. Our OTC and intimate wellness portfolios in particular have performed very well..... Our Health business has had a strong first half, delivering 8.8% like-for-like net revenue growth and high 20s adjusted operating margins. Our OTC and intimate wellness portfolios in particular have performed very well.... In intimate wellness, we launched Durex Invisible ultra-thin condoms designed to maximize sensitivity." However, other portfolios have not performed as well because of which Reckitt Benckiser has seen its share price slip by 1.45% YTD 2023.

Methodology

To determine the most fertile countries in the world, we obtained data from the World Bank showing births per woman by country for 2020 and 2021, the last two years on record. We then calculated the average birth rate of each country for these two years and ranked each country from highest birth rate per woman to lowest.

30. Guinea-Bissau

Average Birth rate per woman: 4.05

Guinea-Bissau has done really well to see a decline in birth rates while also significantly improving child mortality rates, though this decline was reversed in 2022.

29. Liberia

Average Birth rate per woman: 4.13

Liberia's population grew by 1.7 million in the 2022 National Census, directly as a result of high birth rates in the country.

28. Ethiopia

Average Birth rate per woman: 4.20

Ethiopia has done really well to reduce its birth rate and now women in the country are having a lot fewer children than their mothers, with a major contributing factor being women staying longer in schools.

27. Republic of Congo

Average Birth rate per woman: 4.20

Republic of Congo's high birth rates ensures it remains among the countries with the highest fertility rates in the world right now.

26. Togo

Average Birth rate per woman: 4.29

Togo has seen a stark decline in birth rate considering that its birth rate was even higher than Nigeria's in 1960, and if it continues this way, could even drop off our list in the coming years.

25. Equatorial Guinea

Average Birth rate per woman: 4.31

A lack of female education and empowerment has contributed to the country's high birth rates.

24. Zambia

Average Birth rate per woman: 4.34

The average population of Zambia is young, which leads to higher fertility rates, which in turn leads to an even younger overall population, in a self perpetuating cycle.

23. Senegal

Average Birth rate per woman: 4.42

In low-income countries such as Senegal, more children mean more future providers, which is one of the reasons behind the country's high fertility rate.

22. Mauritania

Average Birth rate per woman: 4.43

Mauritania is home to not just high birth rates but also high maternal death rates, and the government needs to introduce more programs to reduce both, and improve safety for women in the country.

21. Guinea

Average Birth rate per woman: 4.44

Recent declines in Guinea's birth rate have been very low, and a lot more needs to be done in this respect.

20. Cote d'Ivoire

Average Birth rate per woman: 4.45

The decline in birth rates in Cote d'Ivoire has slowed down recently, but is still a large decline from 6.6 just over three decades ago.

19. Sudan

Average Birth rate per woman: 4.50

Sudan has seen birth rates fall significantly from more than 7 in in the 1970s to 4.5 in 2021, but it is still among the countries with the highest fertility rates in the world heading into 2024.

18. Cameroon

Average Birth rate per woman: 4.50

Cameroon is among several African countries which adhere to pro-natalist population policies, explaining the higher fertility rates in the country.

17. South Sudan

Average Birth rate per woman: 4.51

In the 12 years since South Sudan gained independence, it has faced a host of challenges, though it has done well to see a strong decline in the last decade in birth rates.

16. Uganda

Average Birth rate per woman: 4.64

Uganda's government is playing its part in reducing birth rates in Uganda by creating more demand and greater access to family planning services.

15. Mozambique

Average Birth rate per woman: 4.68

While Mozambique saw its fertility rate decline somewhat from 2020 to 2021, it is still a long way away from reaching the rate needed to be in line with economic growth.

14. Afghanistan

Average Birth rate per woman: 4.70

Afghanistan is the only non-African country in our list of the countries with the highest fertility rates in the world heading into 2024.

13. Gambia

Average Birth rate per woman: 4.73

In West Africa, few countries have a higher birth rate than Gambia, with women not afforded the status they deserve and not having the rights they deserve.

12. Tanzania

Average Birth rate per woman: 4.76

Because of high poverty levels, many people in Tanzania get married early, which in turn leads to more kids.

11. Burkina Faso

Average Birth rate per woman: 4.82

Burkina Faso's fertility rate barely decreased from 2020 to 2021, and more needs to be done by the government to encourage birth control.

10. Benin

Average Birth rate per woman: 5.01

Benin has a relatively high teenage pregnancy rate in the world, with 92 of every 1,000 girls from the ages of 15 to 19 giving birth in the country in 2021.

9. Burundi

Average Birth rate per woman: 5.13

While the overall world is in a reproduction crisis as global birth rates have fallen significantly, and while still really high, Burundi has also seen its birth rate fall to some extent in the past decade.

8. Nigeria

Average Birth rate per woman: 5.27

Nigeria has done really well to significantly reduce its fertility rate in recent years, but even then, is projected to become among the most populated countries in the world by 2050 as the birth rate is still relatively high.

7. Angola

Average Birth rate per woman: 5.34

A high population of children inevitably follows high birth rates and fertility rates, and Angola had one of the highest number of unvaccinated children in 2022 as a direct consequence, showing how poorer countries with the highest fertility rates in the world can have repercussions for children.

6. Central African Republic

Average Birth rate per woman: 5.98

Because of high birth rates, around 48% of Central African Republic's population is less than 14 years old, adding significantly more pressure to the economy of the country.

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Disclosure: None. 30 most fertile countries in the world heading into 2024 is originally published at Insider Monkey.