Turnover of Global Women's Healthcare Market to Grow at Staggering CAGR of 13.2% and Surpass USD 23.81 Billion by 2026
Published | July 2020
The Global Women’s Healthcare Market assessed at USD 9.6 billion in 2019 is expected to reach USD 23.81 billion by 2026, at a CAGR of 13.2 % during the projection period. Women's health issues are unique as they relate to women's anatomy and reproductive system and need to be addressed uniquely. There are wide range of health conditions pertaining menstruation, pregnancy, menopause, contraception that need diagnosis and treatment by medical professionals. Women's health issues have gained prominent recognition in recent decades. Effective policies and government initiatives help reduce the women's health problems and allow them live healthier lives. However, some significant gender-based health disparities remain in many countries. Lack of awareness and lower income levels in many developing countries make healthcare services difficult or inaccessible for women.
The growth of healthcare market is mainly governed by the rising incidence of chronic ailments among women, government initiatives to control population, and growing requests for contraceptives to avoid unintentional pregnancies. Moreover, the growing focus on R&D by key players for the development of advanced products plays a vital role in propelling market development.
Rising population of women aged over 60, adoption of unhealthy lifestyle, and the introduction of new healthcare products for women are few factors that drive the market growth. Furthermore, promising policies implemented by the government to improve women's health and raise awareness are likely to drive market development during the projection period. Women are at advanced risk of many ailments such as menstrual health-related disorders, hormonal imbalance, osteoporosis, osteoarthritis, anemia, depression, and obesity. Hence, rising incidence of these conditions is likely to strengthen the market development in the coming years.
Prolia segment plays a significant role in the Women’s Healthcare Market
Based on the drug, the market is divided into Mirena, Zometa, Reclast, Prolia, Xgeva, Evista, Nuvaring, Primarin, and Actonel. Prolia is the fastest-growing section of the market and it captured the significant share of the market in 2018. The increasing incidence of postmenopausal osteoporosis is the factor contributing to the rising demand for Prolia, its market growth and robust market share.
Postmenopausal Osteoporosis section dominates all the applications in Women’s Healthcare market
The market is divided into contraceptives, menopause, PCOS, hormonal infertility, postmenopausal osteoporosis, endometriosis, and other based on application. In 2018, the postmenopausal osteoporosis section accounted for the leading market share and is expected to maintain its share during the prediction period. The rising occurrence of postmenopausal osteoporosis, the emphasis on production of effective drugs for cure, and the high risk of osteoporosis fractures besides increasing obesity and old age population propelled this segment's development. The section is also expected to notice the maximum CAGR during the prediction period.
Increasing Prevalence of Health disorders in Women
The chronic ailments and other risk issues related to reproductive system affects the health of women, besides social and ecological factors such as physical inactivity, smoking, alcohol use, depression, and lack of healthcare facilities. Sexual and reproductive health problems account for the one-third of health issues of women aged between 15 and 44. The hormonal infertility is another problem rising rapidly in advanced in advanced countries. Moreover, many market players focus on developing new products to address this issue, which reassures market growth over the forecast period. Hormonal imbalance caused due to prolactin, estrogen, and thyroid is growing in women because of stress and unhealthy lifestyle, which further induces demand for the women's healthcare products.
Increasing Emphasis on Women’s Health by Private and Government Organizations
Government and various private organizations emphasize women's health across the globe through effective healthcare policies and plans. Health and medical coverage plans for women play a vital role in driving women's healthcare market in advanced countries. For instance, numerous coverage plans in the US provide preventive healthcare services for women without any charges. The services comprise regular anemia screening, folic acid supplements for pregnant women, hepatitis B screening, breast cancer screening, and contraceptive products. The Department of Health and Human Services has recognized Healthy People 2020 program spanning over 10 years to improve health of all Americans.
North America is expected to witness substantial growth in the market during the forecast period
The global women’s healthcare market is divided into five major areas: North America, Europe, APAC, Latin America, and the Middle East & Africa. In 2018, North America was the foremost and the fastest-growing area market for women’s healthcare. The rising incidence of PCOS and postmenopausal osteoporosis, the growing median age of first-time pregnancies, and increased healthcare outlay in the US and Canada are the factors propelling the market. Also, the rising awareness regarding contraceptives among American women and the easy accessibility of modern contraceptives compared to emerging countries boost the market development in this region.
Global Women’s Healthcare Market: Competitive Landscape
The giant companies like Eli Lilly and Company, Novartis AG; Pfizer Inc., Merck & Co., Inc.; Novo Nordisk A/S; Amgen Inc., Lupin Pharmaceuticals, Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Sanofi, Johnson & Johnson Services Inc., GlaxoSmithKline plc, Bayer AG, Theramex, Agile Therapeutics, Blairex Laboratories Inc., Bristol-Myers Squibb Company, Ferring B.V., Abbott, Enteris BioPharma, Evestra, Inc, Gedeon Richter, HRA Pharma, JDS Therapeutics, LLC, Neurocrine Biosciences Inc., Noven Pharmaceuticals, Inc., Radius Health, Inc., TherapeuticsMD Inc., Bausch Health, Vertical Pharmaceuticals LLC, Veru Inc., BD and AbbVie Inc. and others participate in this market.