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”.
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.
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Major Women’s Health Market Key players covered in the report include:
- 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)
Women’s Health Market Analysis 2021:
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.