Menopausal Hot Flashes Market: Snapshot
A substantial rise in occurrence of vasomotor symptoms or hot flashes and night sweats resulting from menopause is the single most important growth driver in the global menopausal hot flashes market. Another factor creating demand in the market is the favorable initiatives undertaken by governments and private healthcare institutes in raising awareness about women’s health. Fettering the positive effect of such growth drivers in the market is the imminent patent expirations of popular drugs and products paving the way for cheaper generic drugs in the near future. This is forecasted to deal a blow to the bottom lines of most of the prominent players in the global market for menopausal hot flashes products.
As a result, the global market for menopausal hot flashes is predicted to exhibit a sluggish CAGR of 3.7% between 2015 and 2023 to reach a value of US$5,284.1 mn by 2023 from US$ 3,774.5 mn in 2014.
The global menopausal hot flashes market is somewhat fragmented with the topmost eight vendors accounting for about half the market share. Among them, the top two – Pfizer, Inc. and Novartis AG – hold almost 30% of the market share. Going forward too, they are expected to maintain their stronghold in the market. Pfizer, for example, dominates the crucial North America market which is the leading buyer of menopausal hot flashes treatment products.
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Health Hazards Posed by Hormone Replacement Therapies to Damp their Demand
Hormone replacement therapies, entailing hormones such as progestin and estrogen, for a long time remained the most preferred method for tackling menopausal hot flashes. In fact, it accounted for a staggering 95.0% share in the market up until a while back. Recent studies, however, have revealed that the much practiced treatment can pose danger to women’s health by upping chances of cancer and cardiovascular diseases in them. This has negatively impacted demand for hormone-based therapies for menopausal hot flashes and hence in the years ahead its demand is expected to increase at a lackluster 3.2% CAGR through 2023.
Growth in demand for non-hormonal therapies for menopausal hot flashes, on the contrary, is slated to far outstrip that of hormone replacement therapies in the near future. It is expected to exhibit a robust CAGR of 13.8% from 2015 to 2023. However, even with the cracking pace of demand growth, non-hormonal replacement therapies will not be able to beat the hormonal replacement therapies in the terms of market share anytime soon. This is due to the solid global market penetration of hormonal replacement therapies and lack of proper alternatives in non-hormonal replacement therapies available in the market.
Rising Knowledge of Vasomotor Symptoms to Drive Asia Pacific Market
Currently, the North America market outshines all other regional segments because of the high instances of menopausal vasomotor symptoms in women in the continent. Its share in the global menopausal hot flashes is about a substantial 66.0%. Europe trails North America with a much lesser market share. In the upcoming years, the two continents are predicted to retain their leading positions due the strong awareness about menopausal hot flashes among women and the fast growing population of women aged between 40 to 65 years in the regions.
Exhibiting a healthy CAGR of 6.7% from 2015 to 2023, Asia Pacific will likely outshine all other regions vis-à-vis growth. The increasing awareness about menopause-related health issues among women, increasing disposable incomes, and a sizeable proportion of women between 35 and 65 years of age will fuel a significant uptick in demand in the region.
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