Over the last two decades, research and development in the field of women’s healthcare has gained pace, consequently resulting in an increasing awareness regarding women’s health across the globe. Diseases like osteoporosis and urinary tract infection (UTI) are increasing in number among the women population, and yet women’s health take a backseat as they are caught between the responsibilities of their house and career.
However, the new decade has brought a silver lining, wherein the number of research in the women’s healthcare has increased considerably. Recent research on estrogen has produced the results that the loss of estrogen after menopause affects a woman’s metabolism, and increases the risk of developing obesity and diseases that stem from metabolic imbalance.
As estimated in April 2017, the total world population accounted for approximately 7.5 billion out of which women accounted for 49.6%. The world population is ageing faster and women accounted for 54% of the population belonging to the age group of 60 years or over, in 2015. This percentage is expected to increase in the coming years. Though it has been observed that women live longer than men, a longer life does not guarantee a healthy life. Women undergo numerous hormonal, emotional, and physiological changes at different stages during their lifetime. The focus is now on providing better education and accessibility to services to women in different countries across the globe.
The major health issues being faced by women include cancer, reproductive health, maternal health, HIV, sexually transmitted infections (STI), and old age related problems. International bodies such as the World Health organization (WHO) are pushing for the cause of women’s health with their various schemes and free healthcare programs in remote areas across the world. The advent of 21st century has been a boon for the women’s health market as the increased number of research and development in this domain has widened the spectrum of the market. Education is playing a prominent role in the development of this market by educating the women population about birth control, family planning, and HIV.
According to a recent market intelligence report by BIS Research, titled ‘Global Women’s Health Market, Analysis and Forecast (2017-2023)’, the global women’s health market was estimated at $30.88 billion in 2016, and is expected to grow over $42.12 billion by 2023. This market has developed gradually over the years and is growing steadily at present. The primary factors responsible for the growth of this market include the increasing geriatric population among women, and the rising incidence rate of menopause, which is affecting a considerable number of women of younger age now. Besides this, the infertility rate has also increased in the last decade with the changing lifestyle of the urban population.
The women’s health market is expected to grow further as this industry is still at an intermediate phase. The market is extensive with different applications, such as reproductive, menopausal, urological, and others, and products, such as drugs, and devices. The women’s health market has witnessed a major contribution from the contraceptives segment which was estimated at $15.97 billion in 2016. It is has been estimated that, currently, more than 50% of women of childbearing age are using contraception. A WHO Scientific Working Group review has confirmed that the oral contraceptives are beneficial in reducing the risk of ovarian cancer, endometrial cancer, and biopsy-proven benign breast diseases.
Geographically, North America was a major contributor to the revenue generated by the women’s health market in 2016 which was estimated at $13.64 billion. The reason for this large contribution in the market are the rising population of elderly women, and higher life expectancy in the region leading to increased prevalence of menopausal conditions, and osteoporosis. The region also exhibits a higher prevalence of obesity which leads to higher rate of infertility. The market in this region is expected to grow moderately and reach $17.36 billion by 2023. Latin America is expected to register the highest CAGR of 7.1% during the forecast period 2017-2023.
Some of the key players in the global women’s health market are:
- Neurocrine Biosciences
- Gedeon Richter Plc
- Ferring Pharmaceuticals
- Enteris BioPharma
- Bayer Healthcare
- F. Hoffmann-La Roche AG
- Pfizer Inc.
- Novo Nordisk
- Radius Health Inc.
- Agile Therapeutics
- Teva Pharmaceutical Industries
- Valeant Pharmaceuticals
- Vertical Pharmaceuticals
- Veru Healthcare.
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