The global women’s health market size is expected to reach USD 47.8 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 4.9% over the forecast period. Governments and various private organizations focused on women health across the globe, which is likely to drive the market in the coming years. Coverage plans provided to women is one of the key factors expected to drive the market in developed countries.
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In U.S., coverage plans provide preventive services for women without any copayment charges. This includes anemia screening on a routine basis, folic acid supplements for women who may become pregnant, hepatitis B screening, breast cancer screening, and contraception. Healthy People 2020 was established by the Department of Health and Human Services which has a 10-year agenda for improving the health of all Americans.
Initiatives undertaken by countries such as India, Japan, China, Singapore, and Australia are expected to drive the market over the forecast period. For example, in September 2016, Australia’s Ministry of Health provided a grant of USD 3.8 million till 2019 to Jean Hailes, a women’s health group, to help develop its education and outreach.
Owing to aging and rising incidences of obesity, an increase in prevalence of osteoarthritis (OA) has been witnessed. According to the United Nations, about 10%-15% of all adults aged over 60 have some degree of OA, and the condition is more prevalent in women. According to the CDC, in 2013, back problems were more common in women (30.2%). According to the International Osteoporosis Foundation (IOF), the worldwide prevalence of osteoporosis among women was over 200.0 million in 1990, which is anticipated to reach 680.0 million by 2050.
Further key findings from the study suggest:
• On the basis of application, the women’s health market is segmented into postmenopausal osteoporosis, endometriosis, hormonal infertility, contraceptives, and polycystic ovary syndrome (PCOS) and menopause. Contraceptives held a majority of the market share in terms of revenue in 2019
• Availability of a wide range of drugs for the treatment of postmenopausal osteoporosis is projected to boost the market. These include Fosamax, Actonel, Boniva, Reclast, Evista, and Prolia. In April 2017, the U.S. FDA approved a new drug, Tymlos, to treat postmenopausal osteoporosis. The approval was based on data of an 18-month trial that demonstrated a substantial reduction in the risk of vertebral and non-vertebral fractures
• North America held the largest market share in 2019 owing to technological advancements and presence of major market players in the region. Asia Pacific, on the other hand, is expected to witness the highest growth rate over the forecast period
• Some of the key players in the women’s health market are Bayer AG; Allergan; Merck & Co., Inc.; Teva Pharmaceuticals; Pfizer; Agile Therapeutics; Amgen, Inc.; AstraZeneca, Bristol-Myers Squibb, and Ferring B.V.
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Grand View Research has segmented the global women’s health market on the basis of application and region:
Women’s Health Application Outlook (Revenue, USD Million, 2016 - 2027)
• Postmenopausal Osteoporosis
• Hormonal Infertility
• Endometriosis
• Contraceptives
• Menopause
• Polycystic Ovary Syndrome
Women’s Health Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
• Asia Pacific
o Japan
o China
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.