Womens Health Market Size, Share & COVID-19 Impact 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

The global women’s health market size was valued at USD 35.02 billion in 2019 and is projected to reach USD 41.05 billion by 2027, exhibiting a CAGR of 3.2% during the forecast period. North America dominated the global market with a share of 51.4% in 2019.

The rising prevalence of women-centric diseases such as osteoporosis, breast cancer, menopause, etc. is primarily contributing to the market’s growth. For instance, according to the World Health Organization (WHO), breast cancer is the most frequently occurring cancer among women, impacting 2.1 million women each year and approximately 15% of all cancer deaths in women are due to breast cancer. The market players, through various collaborations, product launches, and numerous awareness programs, are establishing strong footprints in the growing global market. In March 2020, for instance, Ziqitza Healthcare conducted a Corporate Wellness Program with an aim to help women employees optimize their productivity and manage their health.

Decline in Women’s Health Product Sales amid COVID-19 to Affect Revenue

The impact of the COVID-19 outbreak has had an overall negative impact on the sales of women’s health drugs due to the lockdown and the restrictions imposed in developing and developed countries to curb the spread of the infection among citizens. The effect of these rules was seen on the performance of players in this market who witnessed a strong decline in their revenues from their pharmaceutical businesses. For instance, Bayer’s pharmaceutical sales fell by 8.8%, with its business adversely impacted both by canceled and postponed non-urgent treatments due to the COVID-19 pandemic.

Also, buying patterns have been impacted. If patients witnessed any severe symptoms, they preferred buying drugs than getting admitted to a hospital due to the fear of contracting the coronavirus infection. Hence, the market witnessed a decline in sales revenues in the financial year 2020.

LATEST TRENDS

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Increasing Number of Strategic Collaborations and Acquisitions by Market Players is a Prominent Trend

Women’s health is an emerging market and the key players, through inorganic growth strategies, are aiming to capture a larger global customer base. For instance, in August 2020, Bayer bolstered its woman healthcare product portfolio with the acquisition of the UK-based KaNDy Therapeutics and its investigational treatment for menopause. In May 2017, to take another example, Torrent Pharmaceutical Limited acquired two popular brands for women healthcare – Regestrone and Pregachieve – from the global pharmaceutical giant, Novartis AG, in order to expand its product offerings. Therefore, such acquisitions are expected to drive the women’s health market trends during the forecast period.

DRIVING FACTORS

Increasing Awareness and Rising Prevalence of Women-centric Diseases to Spur Market Growth

Frequent episodes of disease outbreaks among women such as anemia, osteoporosis, breast cancer, and menopause have drastically increased the demand for products for the treatment of diseases in women. Growing awareness about these diseases, their harmful effects, and the possible methods of early diagnosis and treatment to prevent future outbreaks are likely to fuel the global market growth rate during the forthcoming period. For example, according to the International Osteoporosis Foundation (IOF), the global incidence of osteoporosis among women is anticipated to reach 650 million by 2050.

Additionally, programs and campaigns for promoting awareness about diseases afflicting women are stoking the adoption of women’s health products, thus simultaneously feeding and driving the market growth. For instance, around 2 million women develop breast cancer every year and therefore, the Outspan Hospital and Outspan Medical College (Kenya) initiated a health awareness campaign for women related to breast cancer in October 2016.

RESTRAINING FACTORS

Harmful Effects of Certain Women Healthcare Products to Hamper Growth

Despite the high prevalence of life-threatening diseases among women, certain factors are limiting women’s healthcare market growth. One such factor is the side effects caused by different drugs on health of women. For example, taking contraceptive pills results in various side effects such as spotting or bleeding between periods, sore breasts, nausea, headaches, etc. Also, the drugs for treating osteoporosis can cause side effects such as joint pain and headaches. Romosozumab (the most common drug for osteoporosis) may increase the risk of heart attack and stroke. Hence, such factors are anticipated to restrict the market growth during the forecast period.

SEGMENTATION

By Application Analysis

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Contraceptives Segment to Lead the Market

Based on application, the global market has been categorized into contraceptives, osteoporosis, menopause, infertility, and others. Among these, the contraceptives segment held the major market share in 2019. The rising prevalence of unwanted pregnancies with a large number of product launches of birth-control pills by key players are the major factors projected to drive segmental growth. For example, according to a research article published by The Guttmacher Institute, between 2015 and 2019, there were around 121 million unintended pregnancies, corresponding to a global rate of 64 per 1,000 women aged 15-49.

The osteoporosis segment held the second-largest share in 2019. The increasing prevalence of osteoporosis in women as compared to men, the growing spending on women’s healthcare, and favorable reimbursement scenarios are likely to surge this segment’s growth during the forecast period.

By Distribution Channel Analysis

Hospital Pharmacies Segment to Dominate the Market Fueled by Availability of Skilled Gynecologists

On the basis of distribution channel, the market is segregated into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment accounted for the lion’s share of the market. The dominance of the segment can be attributed to the fact that the majority of the medications for various treatments can only be prescribed after thorough examinations by trained medical professionals at these institutions. Moreover, initiatives taken by governments towards improving hospital facilities and infrastructure enable hospital pharmacies to gain preference among the people.

The online pharmacies segment is anticipated to grow at the fastest pace in the global market. This is attributable to the rising preference of patients for online purchasing of drugs because of the comfort, convenience, and special discounts offered by online pharmacies.

REGIONAL INSIGHTS

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The market size in North America stood at USD 18.00 billion in 2019. The high adoption rate of women’s health products in the U.S. and Canada for improved health of women, huge spending on the health of female populations, and rising prevalence of diseases in women are some of the major factors favoring the dominance of the region. For example, according to BreastCancer.org, in 2020, an estimated 276,480 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S. Moreover, the penetration of key players is higher in North America, which is likely to boost the growth of the market in the region.

Europe is anticipated to be the second-largest region in terms of revenue in the women’s health market share, which is attributable to the growing awareness regarding women’s diseases and improved healthcare infrastructure in European countries.

The Asia Pacific market is expected to grow with the highest CAGR. This is primarily due to the rising awareness about the health of women and the increased spending in emerging economies such as China and India. Moreover, governments in developing countries are taking initiatives to spread awareness about women’s diseases, diagnosis, and treatment options, and various schemes to avail these services free of cost. For example, in India, the Jan Swasthya Abhiyan is being coordinated by the National Coordination Committee for the wellbeing of women in the country.

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Latin America & the Middle East & Africa accounted for a comparatively lower share of the market owing to the presence of a huge untapped market.

KEY INDUSTRY PLAYERS

Strong Product Portfolios to Enable Pfizer & Bayer AG to Lead the Global Market

The global market has various players operating and competing against each other to achieve a dominant position in the market. Pfizer, Bayer AG, and Allergan are some of the best-positioned companies in this market. Bayer AG, for example, is reinforcing its strategic position in the global market owing to a robust distribution network and a strong brand presence. For instance, in January 2020, Bayer, a leader in women’s health, and Daré Bioscience, Inc. signed an agreement to commercialize Dare’s contraceptive product, Ovaprene.

Other players such as Novartis AG, Amgen, and Johnson & Johnson are continuously engaged in the development of novel drugs for woman’s health and are also expanding their distribution channels across the globe to establish their footprint in emerging markets.

LIST OF KEY COMPANIES PROFILED:

• Bayer AG (Leverkusen, Germany)


• Pfizer Inc. (New York, United States)


• Amgen Inc. (California, United States)


• Novartis AG (Basel, Switzerland)


• Merck & Co., Inc. (New Jersey, United States)


• Eli Lilly and Company (Indiana, United States)


• LUPIN (Mumbai, India)


• AstraZeneca (Cambridge, United Kingdom)


• Agile Therapeutics (New Jersey, United States)


• Other Prominent Players

KEY INDUSTRY DEVELOPMENTS:

• June 2021 - Organon penetrated as the only global women’s health company at New York stock excahange. The company is committed to addressing the challenges in women’s health needs, focusing on reproductive health and health unique health conditions.


• May 2021 – Probi announced a collaboration with Tervisetehnoloogiate Arenduskeskus by signing a research and development agreement to develop novel products based on probiotic lactobacilli strains more focused on vaginal health.


• May 2021 - Partners Group announced the acquisition of Axia Women’s Health, a leading women’s healthcare provider in the U.S. Company’s key initiatives include expanding in-demand ancillary services, improving patient experience, outcomes and engagement, and expanding its geographical footprint.


• April 2021 - Mithra Pharmaceuticals and Mayne Pharma Group Limited announced the approval of oral contraceptive NEXTSTELLIS by U.S Food and Drug Administration (FDA). It is the only contraceptive pill containing estetrol, which is produced from a plant source.

REPORT COVERAGE

An Infographic Representation of Women's Health Market

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The market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, applications, and distribution channels. Besides this, it also offers insights into the current industry trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

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