Global Women’s Healthcare Market Set to Register Moderate Growth: Expected to Reach USD 46,163.53 million in 2027
Published | 25 June 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global women’s healthcare market reached USD 33,182.02 million in 2020. The data estimated by the study further reveals that the market is projected to reach USD 46,163.53 million by 2027, growing at a CAGR of 4.9% during 2021-2027 (forecast period). The global women's healthcare market is expanding due to rising government measures to reduce population, an increase in the frequency of chronic illnesses among women worldwide, and a surge in demand for contraception to minimize unintended pregnancies. This has raised the demand for women's healthcare, favorably impacting the worldwide women's healthcare market.
The rise in women-specific health disorders is amplifying the global women’s healthcare market
According to a report published by the International Osteoporosis Foundation (IOF), the global incidence of osteoporosis among females is expected to reach 680 million by 2050. According to the Society of Obstetricians and Gynecologists of Canada (SOGC), around 80% of women experience more than one menopausal symptom, such as disrupted sleep, mood fluctuations, and increased irritability. Also, the GLOBOCAN report for the year 2018 released by the International Agency for Research on Cancer (IARC) states that female breast cancer diagnosis totaled 2.1 million cases in 2018, accounting for an estimated 11.6% of all global cancer cases. As a result, the rapid rise in the number of women-specific health disorders is generating demand for the global women’s healthcare market.
Growing Prevalence of Polycystic Ovary Syndrome (PCOS) have contributed to the growth of the global women’s healthcare market
PCOS is a hormonal disorder prevalent in premenopausal women worldwide, causing reproductive, endocrine, and metabolic abnormalities. The surge in the number of cases of PCOS has significantly assisted in the growth of the global women’s healthcare market since it requires a strict medical regimen. Oral contraceptive combinations, particularly those containing progestins such as norgestimate, desogestrel, or drospirenone (due to their minimal androgenic effects), are among the most often used drugs for hirsutism in women with PCOS. Hormonal aberrations are common in women with PCOS (elevated androgen levels) leading to menstrual irregularities like oligomenorrhea, amenorrhea, and others, which causes dysfunctional uterine bleeding & infertility. Thus, the wide range of medications used for treating PCOS and the rise in instances of PCOS are contributing to the global women's healthcare market’s growth.
The Prolia drug sub-segment occupies the largest market share in the global women’s healthcare market
Based on drugs, the global women’s healthcare market is segmented into EVISTA, XGEVA, Prolia, Zometa, Reclast/Aclasta, Minastrin 24 Fe, FORTEO, Premarin, ACTONEL, and others. Prolia accounted for the largest market share in the global women’s healthcare market in 2020 and is further projected to record a strong CAGR during the forecast period (2021-2027). The drug acts as an effective medicine for curing osteoporosis in women. Since women are more prone to confront bone and calcium-related issues than men, the need for bone-related treatment becomes inevitable making the drug more essential for consumption. As a result, the drug has been driving the growth of the global women’s healthcare market.
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The hospitals & clinics segment registered the largest share in the global women’s healthcare market’s end-user segment
Based on end-users, the global women’s healthcare market is segmented into hospitals & clinics, gynecology centers, research institutes, and others. The hospitals & clinics segment accounted for the largest share in the global women’s healthcare market and is expected to register a healthy CAGR during the forecast period. People prefer visiting hospitals and gynaecology centers owing to the presence of specialized and highly qualified surgeons and physicians. The growing insurance and reimbursement policies driven by the government initiatives in various developed regions have been driving women to opt for treatments in hospitals.
The Global Women’s Healthcare Market: Regional Insights
Based on region, the global women’s healthcare market is divided into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. In the year 2020, the North American region accounted for the greatest market share in the global women’s healthcare market. According to U.S. census demographics, the region has a growing female population over the age of 35, which indicates a rising demand for female healthcare. This will have a significant impact on the demand for treatment and drugs associated with women's healthcare in the region, as well as the global women's healthcare market.
COVID-19 Impact Analysis
The UN report on the impact of COVID-19 on women discovered that overburdened health facilities, as a result of COVID-19, are diverting resources away from services women require, such as pre- and post-natal healthcare and contraception. When it comes to accessing help, women confront unique challenges. According to the findings of a recent UN Women and UNFPA report, 'Impact of COVID-19 on Gender Equality and Women's Empowerment in East and Southern Africa', the pandemic has had far-reaching and diversified repercussions on women and girls in East and Southern Africa. Additionally, there has been an upsurge in the incidence of neonatal and maternal problems in COVID-19 positive pregnant mothers. It has resulted in an increased rate of miscarriage, preterm birth, pre-eclampsia, cesarean section, and perinatal death. These fatal complications have created the demand for an effective and accessible women's healthcare market for all of its users worldwide.
Some of the leading players in the global women’s healthcare market are Bayer AG, Allergan, Becton & Dickson, Elly Lilly, Merck & Co, Pfizer Inc., Amgen, Agile Therapeutics Inc., Ferring Pharmaceuticals Mylan N.V., and other prominent players. The prevalence of various women’s healthcare manufacturers around the world has paved the way for rising opportunities among the new entrants in the global women’s healthcare market owing to which the global women’s healthcare is fragmented in nature.
In May 2021, Myovant Sciences and Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) has approved MYFEMBREE, the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women, with a treatment duration of up to 24 months.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global women’s healthcare market size & forecast. The report promises to provide recent technology trends of the global women’s healthcare market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the global women’s healthcare market.
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