Women's Health Market to Reach $63.02 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, May 18, 2023 /PRNewswire/ -- The global women's health market size is expected to reach USD 63.02 billion by 2030, registering a CAGR of 5.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The introduction of innovative novel products and the presence of a strong pipeline of women's health products are prime factors driving the market growth. For instance, in May 2021, the Food & Drug Administration approved Myfembree, developed by Pfizer Inc. in collaboration with Myovant Sciences, for uterine fibroids associated with heavy menstrual bleeding. An increase in the incidence of endometriosis and a rise in support from non-profit organizations are expected to fuel the market growth over the forecast period.
Key Industry Insights & Findings from the report:
- The contraceptives segment held the highest market share of more than 35.49% of the global revenue in 2022 due to increased awareness about family planning and rapid technological advancements in contraception.
- The University of California Bixby Center released a reimbursement guide to help health providers offer women a full range of contraceptives.
- The endometriosis segment is expected to witness significant growth over the forecast period due to the launch of products, such as Relugoliz and the impending launch of Linzagolix for the treatment of women with uterine fibroids.
- Based on age, the 50 years and above segment is expected to register the fastest growth rate of 6.7% over the forecast period as an increase in life expectancy is boosting the overall menopausal population across the globe.
- According to the International Menopause Society, globally, women aged between 45 and 55 years typically experience menopause, with the average age of onset at 51.5 years.
Read 130 page market research report, "Women's Health Market Size, Share & Trends Analysis Report By Application (Postmenopausal Osteoporosis, Hormonal Infertility, Endometriosis & Uterine Fibroids, Contraceptives), By Age, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Women's Health Market Growth & Trends
For instance, the Bill & Melinda Gates Foundation pledged USD 280 million every year from 2021 to 2030 for the development of new contraceptive technologies and to support family planning initiatives. According to the WHO report 2021, globally, around 10% (190 million) of reproductive-age girls and women are affected by endometriosis. It is a chronic disease related to severe pain during periods, bowel movements and/or urination, abdominal bloating, nausea, fatigue, etc. The COVID-19 pandemic had a negative impact on the market. Strict measures undertaken by governments to control the spread of the SARS-CoV-2, such as social distancing and community-wide lockdowns, have had a detrimental impact on treatment facilities & gynecological clinics.
For instance, in low- and middle-income countries there has been a decline in the usage of long- and short-acting reversible contraceptives. Strategic initiatives undertaken by key players, such as collaborations, agreements, and partnerships, for the development and commercialization of products are anticipated to drive market growth. For instance, in October 2021, Richter and Hikma signed an exclusive licensing agreement to commercialize denosumab, comprising biosimilar of Xgeva and Prolia in the U.S. Moreover, the growing competition from generic drugs increases the pricing pressure after patent expiration, which is anticipated to impede market growth.
For instance, after the patent expiry, the revenue of Forteo declined by 23% between 2020 and 2021. North America dominated the global market in 2021 owing to favorable reimbursement policies, the presence of key market players, supportive government regulations, approval & commercialization of products, and high usage of contraceptives among women. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to rising government spending on women's health. For instance, the Australian Government announced an investment of USD 333 million to support health services and support.
Women's Health Market Segmentation
Grand View Research has segmented the global women's health market based on age, application, and region:
Women's Health Market - Application Outlook (Revenue, USD Million, 2018 - 2030)
- Postmenopausal Osteoporosis
- Hormonal Infertility
- Endometriosis & Uterine Fibroids
- Polycystic Ovary Syndrome (PCOS)
Women's Health Market - Age Outlook (Revenue, USD Million, 2018 - 2030)
- 50 years and above
- Postmenopausal Osteoporosis
- Endometriosis & Uterine Fibroids
Women's Health Market - Regional Outlook (Revenue, USD Million; 2018 - 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Women's Health Market
- AbbVie, Inc.
- Bayer AG
- Merck & Co., Inc.
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Agile Therapeutics
- Amgen, Inc.
- Apothecus Pharmaceutical Corp.
- Blairex Laboratories, Inc.
- Ferring B.V.
Check out more related studies published by Grand View Research:
- Women's Health And Beauty Supplements Market - The global women's health and beauty supplements market size is expected to reach USD 79.29 billion by 2030, expanding at a CAGR of 5.1% during the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness exponential growth opportunities owing to the increasing awareness about healthy living and well-being coupled with an increase in the adoption of an active lifestyle. Moreover, the wide applications of supplements in the treatment of various disorders such as anemia, depression, arthritis, and others are propelling the demand.
- Postmenopausal Osteoporosis Treatment Market - The global postmenopausal osteoporosis treatment market size is expected to reach USD 13.7 billion by 2030 and is expected to expand at a CAGR of 5.22% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market has grown significantly as a result of the growing geriatric population and lifestyle changes. As the older population is more susceptible, their population growth is anticipated to be a major driving force behind the market expansion. For instance, the number of people aged 60 years and above is predicted to rise from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050, according to the World Health Organization's October 2021 report. As a result, the market is anticipated to expand during the forecast period due to a rise in demand for postmenopausal osteoporosis treatment among older people.
- Infertility Drugs Market - The global infertility drugs market size is expected to reach USD 5.6 billion by 2030 expanding at a CAGR of 6.1% from 2023 to 2030 according to a new report by Grand View Research, Inc. The market seems to be saturated with fewer opportunities for new entrants. The companies including Merck & Co. Inc., Ferring B.V., and Organon group of companies holds majority of market share. Thus, the pharmaceutical companies are focusing on developing biosimilar of gonadotropins for market penetration. For instance, Qilu Pharmaceutical Co., Ltd. focuses on developing QL1012, a recombinant human follicle stimulating hormone which is under phase 3 clinical trial. Successful completion of of trial and subsequent launch is anticipated to drive market.
Browse through Grand View Research's Pharmaceuticals Industry Research Reports.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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