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 woman health and boost the market, observes Fortune Business Insights(TM) in its report. 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.
-- September 2020: Health & Her, specialists in female wellness based in Cardiff, introduced an app to help women navigate their menopausal journey, which includes exercise suggestions, period tracking, and symptom assessment. The company also launched a novel supplement range called 'Health & Her Perimenopause and Menopause Food Supplements'.
-- September 2020: Evofem Biosciences announced the commercial release of Phexxi, its non-hormonal prescription vaginal gel, in the US. The product is designed to prevent pregnancy in reproductive-age women and can be used as an on-demand contraceptive.
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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.
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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.
Robust Spending on Women's Healthcare to Stoke Market Growth in North America
North America is expected to emerge as a major revenue generator for this market during the forecast period, having registered a market size of USD 18.00 billion in 2019. The primary reason for the region's dominance in the market share is the large amount of funds allocated to enhance women's healthcare across the US and Canada. This is a result of the spreading awareness about health issues and the growing prevalence of women-specific diseases in the region.
Improving healthcare infrastructure, especially in Eastern European countries, is anticipated to bolster Europe's position as the second-largest region in this market. Asia Pacific is expected to grow at the highest CAGR on account of the rising awareness about the importance women health.
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Launch of Digital Health Solutions for Women to Fuel Innovation
Some of the leading players in this market that specialize in female wellness and health are coming out with path-breaking digital solutions to address the unique health issues faced by women. These solutions are aimed at enabling women to take care of their independently without affecting their daily routines.
List of Key Companies Profiled in this Market Report:
-- 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)
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Table of Contents:
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
-- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
-- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
-- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
-- Number of procedures and average price of procedures
-- Replacement rate and pricing of capital equipment
-- Market dynamics in relation to the market under focus - Drivers, restraints, trends, and opportunities
-- Market & technological trends, new product developments, product pipeline.
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