Albany, New York, Sept. 09, 2019 (GLOBE NEWSWIRE) -- Globally, participation of women in work force has increased rapidly, which has lead changing their lifestyle and eating habits. With this transition, women’s health deteriorated massively, and number of other diseases women are susceptible of also increased at faster rate. Osteoporosis, anemia, osteoarthritis, depression, menstrual health-related disorders, and obesity are some of the common diseases find in women. Thus, rising incidence of these conditions resulted in increasing focus on women’s health.
According to a recent research conducted by Transparency Market Research on the global Women’s Health Market, analysis states that this market will rise at a healthy CAGR of 5.7% over the course of eight years from 2017 to 2025. In terms of revenue, the global women’s health market is expected to cross US$ 58.05 billion earned in 2016. Rising at this rate, this market has huge growth potential and will benefit stakeholders playing role in this market.
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Players Focusing on Getting FDA Approvals
Players in the global women’s health market are focusing on expanding their product portfolio, as it will help them in getting a stronger hold in the market. They are also focusing on expanding their regional presence to reach larger customer base. Leading players in this market that includes Novartis AG, Pfizer, Inc., Novo Nordisk A/S, Merck & Co., Inc., Amgen Inc., AstraZeneca, Lupin Pharmaceuticals, Inc., Sanofi, F. Hoffmann-La Roche Ltd., and Allergan Plc. are focusing in getting approval for their medicine from FDA. For example, Prolia is suggested for postmenopausal women, as they are highly likely to experience bone fractures due to osteoporosis. However, these indications may differ from region to region based on the laws of those countries. For instance, in Europe, women are prescribed Prolia if they have a high risk of osteoporotic fractures, as a treatment of osteoporosis.
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Conducive Research Environment Made North America a Major Market in Women’s Health Market
North America is considered one of the prime location for medical research. Moreover, high investments made in the developing cutting-edge drug research that resulted in introducing advanced and sophisticated treatments strengthened position of North America in the global women’s health market. Presence of biotechnology and pharmaceutical organizations along with favorable reimbursement policies and approval of products has further benefited the growth of this region. Europe women’s health market is closely following North America. But tough competition is likely to arise from Asia Pacific, as it is expected that in coming years Asia Pacific women’s health market may rise at a rapid rate. Economic growth coupled with large geriatric female population considered as major drivers augmenting Asia Pacific growth.
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Government Focusing on Improving Women’s Health to Benefit Market’s Growth
As women hold a substantial part in the economy, stability of their health is of prime importance. Therefore, governments across the globe are taking significant steps to ensure women’s health safety through various programs. The U.S. government has come up with various coverage plans that provide preventive services for women without imposing any copayment charges. This program includes folic acid supplements for women that are likely to become pregnant, anemia screening on a routine basis, hepatitis B screening, contraception, breast cancer screening, and few other services. The Department of Health and Human Services deployed Healthy People 2020 to ensure better health of all Americans by the end of 2020.
Other countries are also taking similar steps that will help in improving the health of their citizens. Thus, with initiatives like these, the women’s health market is likely to grow and prosper considerably in the next coming years. Additionally, this factor is one of the prime driver in the global women’s health market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Women’s Health Market (Treatment Type - Hormonal Treatment (Estrogen Therapy, Progestin Therapy, Combination Therapy, Thyroid Replacement Therapy, Parathyroid Hormone Therapy, and Others) and Non-Hormonal Treatment (Targeted Therapy Drugs, Antibiotics, Bisphosphonates, and Others); Disease Indication - Cancer (Breast Cancer, Cervical Cancer, Ovarian Cancer), Hypothyroidism, Post-Menopausal Syndrome, Osteoporosis, Contraceptive, Uterine Fibroid, Urinary Tract Infection, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”.
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