(PharmaNewsWire.Com, May 05, 2021 ) The report “Womens Health Care Market by Drugs (Prolia, Xgeva, Evista, Mirena, Zometa, Reclast, Nuvaring, Primarin, Actonel), Application (Female Infertility, Postmenopausal Osteoporosis, Endometriosis, Contraception, PCOS, Menopause) – Global forecast“, is projected to reach USD 17.8 billion by 2024 from USD 9.6 billion in 2019, at a CAGR of 13.2% during the forecast period.
What Drives the Market Growth?
The Women’s Healthcare Market growth is largely driven by the growing incidence of chronic health conditions among women, government initiatives to curb population growth, growing demand for contraceptives to prevent unintended pregnancies, and the growing focus on R&D by key players for the development of advanced products. On the other hand, the reluctance to use contraceptives is a major factor limiting the market growth.
Based on drug, the women’s healthcare market is segmented into EVISTA, XGEVA, Prolia, Mirena, Zometa, Reclast/Aclasta, Minastrin 24 Fe, NuvaRing, FORTEO, Premarin, ACTONEL, and ORTHO-TRI-CY LO (28). Prolia is the largest and fastest-growing segment of the market. Prolia has shown a considerable year-on-year growth primarily due to increasing unit demand. Prolia has witnessed positive market growth owing to the increasing prevalence of postmenopausal osteoporosis in the US.
On the basis of application, the women’s health care market is segmented into hormonal infertility, postmenopausal osteoporosis, endometriosis, contraceptives, menopause, PCOS, and other applications. The postmenopausal osteoporosis segment is expected to grow at a higher CAGR during the forecast period. The growing prevalence of postmenopausal osteoporosis and a high risk of osteoporosis fractures are the prime factors that contribute towards the large share of this segment. Furthermore, the focus of pharmaceutical players on providing effective drugs for postmenopausal osteoporosis also supports the growth of this segment. The postmenopausal osteoporosis segment also holds the largest share of the market owing to these factors.
Geographical View in-detailed:
North America was the largest and the fastest-growing regional market for women’s healthcare. The increasing median age of first-time pregnancies and the growing prevalence of PCOS and postmenopausal osteoporosis are the factors responsible for the growth of this regional segment. Furthermore, the growing awareness and understanding regarding contraceptives among American women, easy access to modern contraception as compared to developing countries, and increased healthcare spending also support the growth of this market.
The prominent players in the global women’s healthcare market include Bayer AG (Germany), Allergan (Dublin), Merck & Co. (US), Pfizer Inc. (US), Amgen (US), Agile Therapeutics Inc. (US), Ferring Pharmaceuticals (US), Mylan N.V. (US), Lupin (India), Blairex Laboratories (US), Apothecus Pharmaceutical (US), Eli Lilly And Company (US), Novartis AG (Switzerland), and Johnson & Johnson (US).
Amgen (US) is one of the leading providers of the women’s health care market. The company’s sales and marketing activities are greatly focused on the US and Europe. The company provides Prolia and Xgeva for the treatment of osteoporosis in postmenopausal women. These drugs have shown a year-on-year double-digit value gain as well as volume growth, and constitute the largest share of the women’s healthcare market. Amgen’s EVENITY, meant for the treatment of osteoporosis in postmenopausal women, is also in phase 3 of development. It is being developed in collaboration with UCB (Belgium). The company’s high brand recognition and focus on product innovation have helped it to maintain its foothold in the market.
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