WELLESLEY, Mass., July 25, 2018 (GLOBE NEWSWIRE) -- Increased global focus on women’s health disorders and an overall aging female population are helping to drive growth of the women’s health pharmaceuticals market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 4.2% through 2023, when it could be worth $37.4 billion, which is outlined in the report Pharmaceuticals for Women’s Health: Global Markets to 2023.
Major players in the market include AbbVie, Bayer, Amgen, Myovant, Allergan and Therapeutics MD.
Research Highlights
- Treatments for postmenopausal osteoporosis will lead the market in both size and growth, with a 2023 value of $11.6 billion and a CAGR of 4.9%, followed by treatments for pregnancy disorders and management, with a 2023 value of $11.1 billion and a CAGR of 4.3%.
- North America leads the global women’s health market by size, with an estimated 2023 value of $14.5 billion, although the Asia-Pacific region will lead by growth, with a CAGR through the period of 5.0%.
- In 2017, Amgen had a 22-25% share of the postmenopausal osteoporosis treatment market, while AbbVie had 27-35% of the endrometriosis treatment market and Pfizer had 18-20% of the menopause-related disorders treatment market.
“Women's health therapeutics have established a strong presence in the global pharmaceutical market over the last few decades,” the report’s authors notes. “The market is expected to grow moderately, mainly due to patent expirations of blockbuster drugs such as Evista, the Premarin family, Forteo, Mirena, Boniva, Actonel, Gonal-F and several others. However, the launch of new drugs in the market, and novel drugs under research and development in the late-stage pipeline, has the strong potential to drive the market during the forecast period.”
Poor Diagnoses, Alternative Treatments among Factors Restraining Growth
Several factors are restraining growth of the market, the report adds. Chief among them are poor disease diagnoses, including those whose symptoms are either not considered abnormal or are not discovered thanks to poor diagnostic techniques. The market is also flush with alternative treatment options and lifestyle changes, which can include the simple addition of fiber and additional physical exercise. Many patients prefer such treatments which shift the focus away from therapeutic interventions.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.