The global women’s health market size is expected to reach USD 54.6 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. Government and various private organizations are focused on women health across the globe, which is likely to drive the market in the coming years. Coverage provided to women is one of the key factors expected to drive the market in developed countries.
In the U.S., coverage plans provide preventive services for women without any copayment charges. This includes anemia screening on a routine basis, folic acid supplements for women who may become pregnant, hepatitis B screening, breast cancer screening, contraception, and many others. Healthy People 2020 was established by the Department of Health and Human Services to improve the health of all Americans in 10 years.
Initiatives by countries from the Asia Pacific region, such as India, China, Japan, Australia, and Singapore, are likely to boost the market over the forecast period. For instance, in September 2016, Ministry of Health, Australia, announced funding of AUD 5.6 million (around USD 3.8 million) until 2019 to Jean Hailes, a women’s health organization to help expand its education and outreach.
With aging and increasing incidence of obesity, the prevalence of OA is anticipated to grow. According to the United Nations, about 10% to 15% of all adults aged over 60 have some degree of OA, and the condition is more prevalent in women. According to the CDC, in 2013, back problems were more common in women (30.2%). According to the International Osteoporosis Foundation (IOF), the worldwide prevalence of osteoporosis among women was over 200.0 million in 1990, which is anticipated to reach 680.0 million in 2050.
Further Key findings from the study suggest:
- Based on application, the women’s health market is segmented into postmenopausal osteoporosis, infertility, endometriosis, contraceptives, menopause, and Polycystic Ovary Syndrome (PCOS). Of these, postmenopausal osteoporosis held a majority of the market share in terms of revenue in 2018.
- Availability of a wide range of drugs for the treatment of postmenopausal osteoporosis is projected to boost the market. These include Fosamax, Actonel, Boniva, Reclast, Evista, and Prolia. In April 2017, the U.S. FDA approved a new drug, Tymlos, to treat postmenopausal osteoporosis. The approval was based on data of 18-month trial that demonstrated a substantial reduction in the risk of vertebral & nonvertebral fractures.
- North America held the largest market share in 2018 in terms of revenue pertaining to the technological advancements and presence of major market players in the region. Asia Pacific, on the other hand, is expected to showcase the fastest growth rate over the forecast period.
- Some of the key players in the market are Bayer AG; Allergan; Merck & Co., Inc.; Teva Pharmaceuticals; Pfizer; Agile Therapeutics; Amgen, Inc.; AstraZeneca, Bristol-Myers Squibb, Ferring B.V.