Usually, people (especially women), do not share their biological problems and that causes many complications in various biological and gynecological aspects. That is why there are various biological problems that women are prone to but are not aware of. More so if they are not familiar with the concept of menstruation and the menstrual cycle. Among gynecological problems, menopause is a serious one. Most people have learned about this problem due to media reports of various Hollywood celebrities freezing their eggs in order to avoid pregnancy complications that Menopause can cause. Thus, necessities and demands of women aware of menopause and its dangers have created a steady market for menopause treatment as statistics claim that about 85% women above 40 suffer from menopause. The key symptoms of menopause include hot flashes, formication and migraine.
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Market Research Future (MRFR) has published a research report about the global menopause treatment market, which has predicted 4.2% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. In terms of cash, the market growth is expected to reach the US $ 3.3 bn by 2023.
According to this report, the key drivers of global menopause treatment market are increasing awareness regarding women health, development in drugs (especially the advancements in hormonal drugs, etc.), development of healthcare and gynecology centers and rise in population. The restraints that are likely to interrupt the growth of this market include complications of drug treatment such as bleeding, osteoporosis, and the high cost of treatment. The global menopause treatment market has been segmented on the basis of the end user, hormonal treatment, and non-hormonal treatment. Based on end-user, this market has been segmented into academic and research, hospitals & clinics, and others. On the basis of hormonal treatment, the market has been segmented into estrogen, progesterone, a combination of the two and others. On the basis of non-hormonal treatment, the market has been segmented into anti-anxiety, anti-depressants, anti-migraine and others.
The regional segmentation of global menopause treatment market covers the Americas (North America & South America), Europe, Asia Pacific, Middle East & Africa (MEA) and rest of the world (RoW). Due to the high expenditure on health, the Americas have a significant market share. Due to more purchasing power and advanced technology in North America, the market is bigger here, compared to South America. Maximum revenue in North America comes from Canada and the United States of America (USA). Focus of the major healthcare companies in the developed countries, large insurance, fastest adoption of new products in the USA are also pushing the North American market for menopause treatment to maximum growth. With healthcare expenses being 16% of US GDP, without a doubt, the USA is a favorable market for menopause treatment. Europe is the second largest market for menopause treatment due to high income and strong healthcare penetration. Although France and Germany are the biggest markets for menopause treatment, the other important markets in this region are Italy, Spain and the United Kingdom (UK). During the forecast period, the UK is expected to be the fastest growing market in Europe. Between France and Germany being top markets, Germany has the edge over France that makes it greater market. That is a strong pharmaceutical industry in Germany. Eastern Europe also serves as a sizable market for menopause treatment.
During the forecast period, Asia Pacific is expected to grow rapidly among other regions. China and India are likely to emerge as market leaders as both countries have fast-growing healthcare sector and large unmet necessities due to high population. South East Asian countries namely China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare insurance in the Asia Pacific region is also expected to drive the future menopause treatment market in the whole Asia Pacific region. Other important markets in the Asia Pacific region are Australia, Japan, and South Korea. Due to lack of awareness, education and a limited budget for healthcare, the market for menopause treatment is small and slow in the MEA region. During the forecast period, Gulf nations such as Saudi Arabia and the United Arab Emirates (UAE) are estimated to drive the MEA market. Other nations in this region that have the potential to emerge as significant markets are Egypt, Iran, Jordan, and Kuwait. The African region is expected to witness a moderate growth forecast period. This is due to poor economic and political conditions, and poor healthcare development.
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The key players in global menopause treatment market include Allergan PLC (USA), Cipla Inc. (India), Eli Lilly and Company (USA), Emcure Pharmaceuticals Ltd. (India), Merck & Co. Inc. (USA), Novartis AG (Switzerland), Novo Nordisk A/S (Denmark), Pfizer Inc. (USA), and Teva Pharmaceutical Industries Ltd. (Israel).
Latest Industry News
- The US Food and Drug Administration (FDA) has approved TX-004HR estradiol vaginal inserts (IMVEXXY) for the treatment of moderate-to-severe dyspareunia. Dyspareunia is a symptom of vaginal and vulvar atrophy due to menopause.
- UK-based Cambridge Consultants has developed a Pebal device for providing instant cooling effects and on-demand relief to women suffering from menopausal hot flashes. Cambridge Consultants are interested in working with various partners to develop additional products for women’s health.
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