The global women’s health market size is projected to reach USD 41.05 billion by 2027, exhibiting a CAGR of 3.2% during the forecast period. The COVID-19 pandemic is likely to reemphasize the importance of women’s health and boost the market, observes Fortune Business Insights™ in its report, titled “Women’s Health Market Size, Share & Industry Analysis, By Application (Contraceptives, Osteoporosis, Menopause, Infertility, and Others) and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027”.
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The infection caused by the coronavirus, which has affected more men than women across the globe, has brought the issue of health of women in the spotlight. A UN policy brief released in April 2020 stated that women hold less secure jobs and earn lower wages, which makes them highly vulnerable to the adverse effects of this pandemic. More importantly, as the pandemic intensifies, women’s health will inevitably suffer. For example, in March 2020, the UNESCO estimated that the 1.5 billion children worldwide are out of school and this puts female students at a heightened risk of sexual abuse, genital mutilation, and early marriage. With governments recognizing the significance of maintaining women’s health, the demand for modern, efficient female healthcare products is expected to rise amid this current crisis.
As per the report, the global market value stood at USD 35.02 billion. The salient features of the report include:
- In-depth evaluation of the market trends, drivers, and restraints;
- Careful examination of the different market segments;
- Microscopic assessment of the regional and competitive developments influencing the market growth; and
- Broad-based understanding of the overall industry outlook and opportunities.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Prevalence of Women-centric Diseases to Aid Growth
A leading factor aiding the women’s health market growth is the rising incidence of women-specific diseases and disorders around the globe. For example, the 2018 GLOBOCAN report by the International Agency for Research on Cancer (IARC) revealed that female breast cancer diagnoses stood at 2.1 million in 2018, accounting for approximately 11.6% of the total global cancer burden. Further, female breast cancer was the fifth leading cause of death, contributing to 6.6% of the total global deaths in 2018. Another prime example is osteoporosis in women, a disease that generally afflicts menopausal women, causing reduction in bone density. The National Osteoporosis Foundation, for example, estimates that 20% of Caucasian women aged 50 and above have osteoporosis. As a result of their complex internal body dynamics, management of women’s health, especially post-pregnancy and post-menopause, when hormone imbalances are known to occur, requires high level of efficiency and accuracy. Products designed to facilitate effective management of women-centric diseases will, thus, play a crucial in augmenting this market in the forthcoming years.
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Robust Spending on Women’s Healthcare to Stoke Market Growth in North America
North America is expected to emerge as a major revenue generator for this market during the forecast period, having registered a market size of USD 18.00 billion in 2019. The primary reason for the region’s dominance in the women’s health market share is the large amount of funds allocated to enhance women’s healthcare across the US and Canada. This is a result of the spreading awareness about women’s health issues and the growing prevalence of women-specific diseases in the region.
Improving healthcare infrastructure, especially in Eastern European countries, is anticipated to bolster Europe’s position as the second-largest region in this market. Asia Pacific is expected to grow at the highest CAGR on account of the rising awareness about the importance women’s health.
Launch of Digital Health Solutions for Women to Fuel Innovation
Some of the leading players in this market that specialize in female wellness and health are coming out with path-breaking digital solutions to address the unique health issues faced by women. These solutions are aimed at enabling women to take care of their independently without affecting their daily routines.
- September 2020: Health & Her, specialists in female wellness based in Cardiff, introduced an app to help women navigate their menopausal journey, which includes exercise suggestions, period tracking, and symptom assessment. The company also launched a novel supplement range called ‘Health & Her Perimenopause and Menopause Food Supplements’.
- September 2020:Evofem Biosciences announced the commercial release of Phexxi, its non-hormonal prescription vaginal gel, in the US. The product is designed to prevent pregnancy in reproductive-age women and can be used as an on-demand contraceptive.
List of Key Companies Profiled in the Women’s Health Market Report:
- Agile Therapeutics (New Jersey, USA)
- LUPIN (Mumbai, India)
- Merck & Co., Inc. (New Jersey, United States)
- Amgen Inc. (California, United States)
- Bayer AG (Leverkusen, Germany)
- AstraZeneca (Cambridge, UK)
- Eli Lilly and Company (Indiana, United States)
- Novartis AG (Basel, Switzerland)
- Pfizer Inc. (New York, United States)
Table Of Content :
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Women Related Disorders, By Key Countries/Region
- New Product Launches
- Key Mergers, Acquisition, and Partnerships
- Key Industry Trends
- Impact of COVID-19 on Women’s Health Market
Global Women’s Health Market Segmentation :
Segments Covered in the Report
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- By Application
- By Distribution Channel
- By Country
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