The progesterone market is expected to record a CAGR of 13.1% over the forecast period.
- Rising incidences of disorders, such as abnormal uterine bleeding and amenorrhea, and the female population suffering from these diseases, are expected to promote growth. According to the study of “Amenorrhea, Secondary”, in the US, approximately 5% of menstruating women experience 3 months of secondary amenorrhea, each year.
- Menopausal females form the largest section of the market. Hence, the growing range of menopausal windows and the rising female population in the age group of 45-59 years are expected to further bolster the overall market growth.
- In addition, an upsurge in the incidence of breast cancer in women is anticipated to be a key growth factor, as the patient pool of breast cancer may suffer from breast tenderness, where the progesterone hormone is considered as one of the treatment options. Hence, the usage of progesterone is anticipated to increase. As per the World Health Organization, breast cancer ranks as the fifth leading cause of death in women, impacting 2.1 million women, each year, thus, driving the market studied.
- The growing demand for progesterone is driven by the presence of routinely monitored formulations, technological advancements in the field of drug delivery systems, and increasing awareness among patients.
- The wide range of pipeline drugs possessing high probability of approval in clinical trials in the future is predicted to provide lucrative growth opportunities to the progesterone market. Some imperative investigational drugs include DARE-HRT1, Onapristone, and VOLT02.
- However, the lack of awareness regarding the availability of the progesterone therapy in developing regions and side effects of the therapy may restrict the market.
Key Market Trends
The Natural Progesterone Segment is Believed to Witness Healthy Growth
The product segment includes natural progesterone and synthetic progesterone. Natural progesterone-based products are inclusive of combination drug therapies made from soybeans or a wild, inedible Mexican yam called Diascorea villosa.
Natural progesterone is expected to witness lucrative growth during the forecast period. Natural progesterone-based products have been studied to generate the largest number of prescriptions. Drugs, such as Crinone and Prometrium, are the major contributors to revenue.
The high growth potential attained is a consequence of positive patient outcomes associated with natural progesterone. The positive patient outcomes can be attributed to significant improvements in hormonal interactions.
Hence, due to the significance of natural progesterone, the segment may witness rapid growth.
North America Dominates the Market
North America is leading, owing to the presence of major market players. Several collaborative efforts undertaken by major companies to enhance their R&D capabilities and ensure high medical standards are anticipated to impel the demand across this region. Moreover, the majority share can also be attributed to the high disease burden in this region. Increasing cases of kidney, breast, or uterine cancer types and the rising population of menopausal women are the key drivers of the market in the region.
Asia-Pacific is expected to witness the fastest growth over the forecast period. Increasing awareness levels and the rising focus of healthcare providers on the eradication of hormonal deficiencies are expected to boost the market growth within the region. Similar trends are expected to be observed in developing countries, such as South Africa.
The major market players include companies, such Alkem Labs, Aquatic Remedies Pvt. Ltd, Bionpharma, Blubellpharma, Cadila Pharmaceuticals, Cipla Limited, Estrellas Life Sciences Private Limited, Glenmark Limited, Lupin, Mankind Pharma, and Virtus.
Investment in the development of effective and long-acting products, with lesser adverse effects, and improving geographical penetration through partnerships and collaborations are the key strategies adopted by the companies to increase their market shares. For instance, in December 2019, Mankind Pharma launched the generic Dydrogesterone tablets for treatment of infertility and pregnancy-related complications in the Indian market. This was carried out to expand the treatment options and gain competitive advantage.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Rise in the Incidence of Amenorrhea and Uterine Dying
4.2.2 Increase in Cases of Female Infertility and Breast Cancer
4.2.3 Technological Advancements in the Medical Industry
4.3 Market Restraints
4.3.1 Lack of Awareness Regarding the Availability of Hormone Therapy
4.3.2 Side Effects of Progesterone
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Natural Progesterone
5.1.2 Synthetic Progesterone
5.2 Mode of Delivery
5.2.2 Suspended Form
5.2.4 Other Modes of Delivery
5.3.2 Dysfunctional Uterine Bleeding
5.3.3 Endometrial Cancer
5.3.5 Hyperplastic Precursor Lesions
5.3.6 Other Applications
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6.1.1 Alkem Labs
6.1.2 Aquatic Remedies Pvt. Ltd
6.1.5 Cadila Pharmaceuticals
6.1.6 Cipla Limited
6.1.7 Estrellas Life Sciences Private Limited
6.1.8 Glenmark Pharmaceuticals
6.1.9 Lupin Limited
6.1.11 Teva Pharmaceuticals
A selection of companies mentioned in this report includes:
- Alkem Labs
- Aquatic Remedies Pvt. Ltd
- Cadila Pharmaceuticals
- Cipla Limited
- Estrellas Life Sciences Private Limited
- Glenmark Pharmaceuticals
- Lupin Limited
- Teva Pharmaceuticals