Women’s Health Market Is Expected to Reach US$ 58.24 Billion by 2030, Grow at a CAGR Of 4.8% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, Women's health issues have received more attention in recent years, and more people are becoming aware of the significance of preventative care, early disease detection, and equal access to medical treatment for women. This has resulted in a rise in interest in healthcare options specifically designed for female patients.
Farmington, April 07, 2023 (GLOBE NEWSWIRE) -- *The Global **Women’s Health Market** Was Valued At US$ 40.29 Billion In 2022 And Is Expected To Expand USD 468.18 Billion By 2030 at a CAGR Of 4.8% From 2022 To 2030.* Increases in the elderly population of women and the launch of new medications for women's health, such as Relugoliz and Orilissa, are responsible for the expansion of the market. Moreover, favourable policies adopted by governments to improve women's health and raise awareness are projected to drive the market over the projection period. During the epidemic, the market displayed less growth than anticipated.
Access to contraception and gynecological testing decreased, resulting in an increase in unsafe abortions and undesired pregnancies, particularly in poorer nations. According to the BMC, there has been a 10% drop in the use of long- and short-acting reversible contraceptives in low- and middle-income countries, as well as a 10% decline in the use of pregnancy-related critical services. In the midst of the pandemic, all of these factors contributed to a reduction in market growth. Women are more susceptible to a variety of illnesses, including osteoporosis, osteoarthritis, endometriosis, and menstrual health difficulties.
Approximately 73% of postmenopausal women experience hot flashes, tiredness, and sleep difficulties, which increase reliance on drugs and diminish life quality. It is projected that the incidence of osteoporosis would increase as the population ages and the frequency of obesity rises. Some of the most significant causes of hormone imbalance in women are stress, dietary changes, and alcohol usage, all of which contribute to reproductive problems. PCOS, ovulation issues, and endometriosis are among the most common reasons of infertility. According to the WHO, endometriosis impacted approximately 190 million women of reproductive age worldwide in 2021.
It is projected that these factors will stimulate market expansion. According to the Department of Social and Economic Affairs of the United Nations, around 1.1 billion women needed family planning in 2019, of which 190 million had unmet contraception needs and approximately 842 million used contemporary contraceptive methods. Due to the significant unmet demand for publicly-funded contraceptive services and supplies, the federal and state governments are actively working to improve family planning services and access to modern contraception.
For example, Germany's total multilateral financing for sexual & reproductive health and family planning in 2020 was around 121.85 million US dollars, a 65 percent increase over 2019. In addition, institutions such as USAID administer reproductive health and family planning programs in over thirty countries, including South Africa and other African nations with a significant unmet demand for contraception. However, prolonged contraceptive use is associated with a number of difficulties and side effects, which has led to an increase in the use of conventional contraceptive techniques.
*Request Sample Copy of Report *Women’s Health Market Size, Share & Trends Estimation Report By Type Outlook (Rigid, Semi-rigid & Flexible) By Material Type (Paper & Paper-based, Plastic, Metal, Glass & Others) By Application Outlook (Bakery & Confectionery, Dairy Products, Fruits &Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings & Others) By Region, And Segment Forecasts, 2023 - 2030
*Segmentation Overview: *
*Application Insights: *
Due to growing knowledge about family planning and quick technical improvements in contraception, the contraceptives category held the largest market share of more than 33.01% of the global revenue in 2021. In addition, favorable government policies in nations such as the U.S., combined with a growing understanding of various contraceptive methods, are anticipated to increase the market for contraceptives. For instance, U.S. federal law demands that all female-controlled contraceptive methods be covered by insurance at no cost to patients.
In industrialized regions, such as the United States and Europe, oral contraceptives are the most prevalent type of contraception, but intrauterine devices and implants are more prevalent in developing countries. During the projection period, the endometriosis & uterine fibroids market sector is anticipated to expand at a rapid rate. The expansion is a result of the introduction of new products for these circumstances. For instance, the 2018 U.S. approval of Orilissa and the May 2021 U.S. approval of Myfembree for the treatment of moderate to severe pain associated with uterine fibroids and heavy menstrual bleeding associated with uterine fibroids, respectively, are expected to drive market growth.
*Age Insights: *
On the basis of age category, the global market has been subdivided into those 50 and older and all others. The segment of menopausal women aged 50 and older is anticipated to experience the highest growth rate of over 6.00% over the projection period, as a rise in life expectancy increases the global menopausal population. In addition, as the elderly population grows, disorders such as postmenopausal osteoporosis are on the rise. All of these elements are anticipated to contribute to this segment's growth in the next years.
In contrast, the others segment held the biggest market share in 2021 and is projected to maintain its dominant position throughout the forecast period. Women under the age of 50 are of reproductive age, and women's health disorders linked with this age group are more likely to be fertility-related, including hormonal infertility, endometriosis, and polycystic ovary syndrome. In 2020, 64.8% of the world's female population, or around 1.9 billion of the total 3.8 billion female population, will be between the ages of 15 and 49, according to the World Bank. These factors contribute to the expansion of the market.
*Regional Outlook:*
In 2021, North America dominated the global market, accounting for roughly 41.0% of global sales. Throughout the forecast period, the region's market share will increase at a constant CAGR. This expansion can be ascribed to the early approval and commercialization of products, attractive reimbursement systems, supporting government laws, and heightened awareness of the significance of maintaining good health. During the fiscal year 2020-2021, for instance, the Canadian government allocated USD 50.47 million to family planning, allowing contraceptive supplies and services to be delivered to 2.5 million women and couples.
These activities and campaigns will contribute to the growth of the market throughout the forecast period. Asia-Pacific is anticipated to see the highest CAGR between 2022 and 2030, owing to reasons such as expanding awareness about women's health and well-being, a rising senior population, and various government efforts aimed at boosting health awareness. on July 2017, for example, the Indian government boosted its expenditure on family planning from $2 billion to $3 billion by 2020. In addition, according to the budget for 2021-22, the Australian government will invest $353,9 million in women's health over the following four years.
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*Scope of Report:*
*Report Attributes* *Details*
*Growth Rate* CAGR of *4.8%* from 2023 to 2030.
*Revenue Forecast by 2030* *US$ 58.24 *Billion**
*By Application * · Postmenopausal Osteoporosis
· Hormonal Infertility
· Endometriosis & Uterine Fibroids
· Contraceptives
· Menopause
· Polycystic Ovary Syndrome (PCOS)
*By Age* · 50 Years & above
· Postmenopausal Osteoporosis
· Endometriosis & Uterine Fibroids
· Menopause
· Others
*By Companies* · 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.
*Regions and Countries Covered* · North America: (US, Canada, Mexico, Rest of North America)
· Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
· The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
· Latin America(Brazil, Argentina, Rest of Latin America)
· Rest Of the World
*Base Year* 2022
*Historical Year* 2017 to 2022
*Forecast Year* 2023 to 2030
*Market Dynamics: *
*Restraining Factors: *
In spite of the fact that the global women's health market is anticipated to expand significantly in the future years, there are a number of variables that could potentially impede this expansion.
*High treatment costs: *The price of healthcare services and items connected to women's health can be prohibitive for many women, particularly those in underdeveloped nations. This has restricted access to healthcare services and products and is a substantial obstacle to market expansion.
*Lack of access to healthcare services: *Numerous women, especially those living in rural or low-income areas, lack access to appropriate healthcare services. This can lead to delays in diagnosis and treatment and is a significant impediment to market expansion.
*Stigma and cultural barriers**:* In some cultures, women's health issues are stigmatized or seen as taboo, making it harder for women to access healthcare treatments. This may hinder market expansion in particular places.
*Opportunity Analysis: *
As women's health becomes a worldwide concern, the global women's health industry presents a substantial opportunity for healthcare organizations and investors. This trend is influenced by a number of causes, including a growing awareness of the special health challenges women face, changing lifestyles, and an aging population. Here are some significant insights from the global women's health market's opportunity analysis:
*Reproductive health*: Reproductive health is a vital aspect of women's health, and the demand for reproductive health products and services is increasing. According to the World Health Organization (WHO), approximately 830 women die daily from pregnancy and childbirth-related avoidable causes. Growing awareness of reproductive health issues, such as infertility and menstrual disorders, drives demand for products and services in this market category.
*Chronic diseases: *Women's significant health issues include breast cancer, osteoporosis, and cardiovascular disease. Demand for diagnostic and therapeutic products and services is driven by the rising prevalence of these disorders. According to the World Health Organization, breast cancer is the most prevalent cancer among women globally, with an estimated 2,3 million new cases expected to be identified in 2020.
*Technological advancements: *The women's health market is significantly influenced by technological improvements. The use of telemedicine for distant consultations and remote monitoring of chronic illnesses, for instance, is growing in popularity. In addition, improvements in digital health technologies, such as mobile health applications and wearables, enable women to take a more active role in managing their health.
*Government efforts:* Government programs designed to improve the health of women are creating opportunities for businesses operating in this area. In 2019, for instance, the U.S. Women's Health Technologies Strategically Aligned with Regulatory and Scientific Advancement (STAR) is a project developed by the Food and Drug Administration (FDA) to encourage the development of new products that address unmet needs in women's health.
*Key Segments Covered:*
*Top Market Players: *
· 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.
*By Application *
· Postmenopausal Osteoporosis
· Hormonal Infertility
· Endometriosis & Uterine Fibroids
· Contraceptives
· Menopause
· Polycystic Ovary Syndrome (PCOS)
*By Age *
· 50 Years & above
· Postmenopausal Osteoporosis
· Endometriosis & Uterine Fibroids
· Menopause
· Others
*Regions and Countries Covered*
· *North America: *(US, Canada, Mexico, Rest of North America)
· *Europe: *(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
· *Asia-Pacific: *(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
· *The Middle East & Africa: *(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
· *Latin America: *(Brazil, Argentina, Rest of Latin America)
· *Rest Of the World*
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