The growth of the women’s healthcare market is primarily driven by factors such as the growing incidence of chronic health conditions among women, government initiatives to curb population growth, and growing demand for contraceptives to prevent unintended pregnancies. Moreover, the growing focus on R&D by key players for the development of advanced products is also a major factor in driving market growth.
What the Market Looks Like?
Predicted to grow at a CAGR of 13.2% during the forecast period, the global Women’s Health Care Market is estimated to reach USD 17.8 billion by the end of 2024. North America accounted for the largest share of the market.
Based on drug, the women’s healthcare market is segmented into EVISTA, XGEVA, Prolia, Mirena, Zometa, Reclast/Aclasta, Minastrin 24 Fe, NuvaRing, FORTEO, Premarin, ACTONEL, and ORTHO-TRI-CY LO (28). Prolia is the largest and fastest-growing segment of the market. Prolia has shown a considerable year-on-year growth primarily due to increasing unit demand. Prolia has witnessed positive market growth owing to the increasing prevalence of postmenopausal osteoporosis in the US.
On the basis of application, the women’s healthcare market is segmented into hormonal infertility, postmenopausal osteoporosis, endometriosis, contraceptives, menopause, PCOS, and other applications. The postmenopausal osteoporosis segment is expected to grow at a higher CAGR during the forecast period. The growing prevalence of postmenopausal osteoporosis and a high risk of osteoporosis fractures are the prime factors that contribute towards the large share of this segment. Furthermore, the focus of pharmaceutical players on providing effective drugs for postmenopausal osteoporosis also supports the growth of this segment. The postmenopausal osteoporosis segment also holds the largest share of the market owing to these factors.
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Key players in the women’s healthcare market:
The market is fragmented in nature, with a large number of players, including tier 1 and mid-tier companies competing for market shares. The prominent players in the global market include Bayer AG (Germany), Allergan (Dublin), Merck & Co. (US), Pfizer Inc. (US), Amgen (US), Agile Therapeutics Inc. (US), Ferring Pharmaceuticals (US), Mylan N.V. (US), Lupin (India), Blairex Laboratories (US), and Apothecus Pharmaceutical (US).
Amgen (US): Amgen (US) is one of the leading providers of the women’s healthcare market. The company’s sales and marketing activities are greatly focused on the US and Europe. The company provides Prolia and Xgeva for the treatment of osteoporosis in postmenopausal women. These drugs have shown a year-on-year double-digit value gain as well as volume growth, and constitute the largest share of the market. Amgen’s EVENITY, meant for the treatment of osteoporosis in postmenopausal women, is also in phase 3 of development. It is being developed in collaboration with UCB (Belgium). The company’s high brand recognition and focus on product innovation have helped it to maintain its foothold in the market
What Drives the Market?
The growth of the global market for Women’s Health Care is primarily influenced by the following factors:
- Growing Incidence of Chronic Health Conditions Among Women
- Demand for Contraceptives to Prevent Unintended Pregnancies
- Government Initiatives to Curb Population Growth
- Growing Focus on Product R&D
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