(PharmaNewsWire.Com, December 02, 2021 ) MarketsandMarkets Research Report’s View on Revenue Impact?
The Global Womens Health Care Market 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.
Factors Responsible for Growth and In-Depth Analysis?
The growth of the Womens HealthCare Market is primarily driven by factors such as the growing incidence of chronic health conditions among women, government initiatives to curb population growth, and growing demand for contraceptives to prevent unintended pregnancies. Moreover, the growing focus on R&D by key players for the development of advanced products is also a major factors driving growth.
The women’s healthcare market is a highly diversified and competitive market, with several large and emerging players. The prominent players in this 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). The players present in the market focus on providing effective products to cater to the unmet needs of customers, increase profitability, and gain a competitive edge in the market.
Amgen (US) is one of the leading providers of the women’s healthcare 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 health care 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.
Geographical Analysis in Detailed?
The global women’s healthcare market is segmented into five major regions, namely, North America, Europe, APAC, Latin America, and the Middle East & Africa. In 2018, North America (US and Canada) was the largest and the fastest-growing regional market for women’s healthcare. The major factors supporting market growth include the growing prevalence of PCOS and postmenopausal osteoporosis, increasing median age of first-time pregnancies, and increased healthcare spending in the US and Canada. Also, the high awareness and understanding regarding contraceptives among American women and the easy access to modern contraception as compared to developing countries propel the market growth in this region.
The postmenopausal osteoporosis segment accounted for the largest share of the women’s healthcare market.
Based on application, segmented into hormonal infertility, postmenopausal osteoporosis, endometriosis, contraceptives, menopause, PCOS, and other applications. In 2018, the postmenopausal osteoporosis segment accounted for the largest market share during the forecast period. Factors such as the growing prevalence of postmenopausal osteoporosis, the focus of pharmaceutical players on providing effective drugs for postmenopausal osteoporosis, and the high risk of osteoporosis fractures supported the growth of this segment. Additionally, factors such as old age and obesity further add to the risk of osteoporosis in women. This segment is also expected to register the highest CAGR during the forecast period.
The Proila segment is expected to grow at the highest CAGR.
Based on drug, 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 fastest-growing segment of the market. Also, Prolia accounted for the larger share of the market in 2018. The increasing demand for Prolia due to the high prevalence of postmenopausal osteoporosis among women is the major factor responsible for the growth of this market segment.
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