Women’s Health Market

Women’s Health Market By Product Type (Drugs And Devices), By Application (Breast Cancer, Female Reproductive System Diseases, Birth Control, Fertility, Menopause, And Others), and by geography is estimated to register growth at a remarkable CAGR forecast during 2024-2030 owing to surge in prevalence of breast cancer and increasing awareness on women’s health

The global women’s health market was valued at USD 31.94 billion in 2023, growing at a CAGR of 5.40% during the forecast period from 2024 to 2030 to reach USD 43.76 billion by 2030. The women’s health market is slated to witness prosperity owing to factors such as the growing prevalence of breast cancer, further rise in menstrual disorders and infertility issues in women, and the growing focus on improving the safety, affordability, and usability of women’s health products are further expected to result in the appreciable revenue growth in the women’s health market during the forecast period (2024-2030).

Women’s Health Market Dynamics:

The prominent drivers for the women’s health market are the rising prevalence of chronic diseases such as breast cancer, endometriosis, and others, increasing awareness of birth control methods, rise in age-related fertility loss cases, among others.

Breast cancer is a cancer of breast tissue affecting millions of women worldwide.  According to the World Health Organization 2021, around 2.3 million women were diagnosed with breast cancer in the year 2020 globally. This indicates the huge need for breast cancer diagnosis and treatment devices as well as its medications, thus accelerating the women’s health market.

Further, Endometriosis disease associated with the presence of tissue resembling endometrium outside the uterus leading to complications such as infertility, depression, and others is highly prevalent in women and thus requires treatment thereby accelerating the women’s health market. According to World Health Organization (WHO) 2021, roughly around 190 million (10%) women and girls of reproductive age get affected by endometriosis.

Also, the rise in infertility and pregnancy complications amongst women population globally is another key driver for the women’s health product market. For instance, as per the World Health Organization 2020, around 48 million couples are living with infertility globally. This indicates the growing need for safer methods to solve the problem of infertility among women and therefore leading to a rise in the women’s health market.

Another key factor responsible for the growth of the women’s health market is the continuous product developments happening to improve women's health across the globe.

Additionally, the rising awareness of birth control methods among women is another major factor driving the women’s health market. For example, as per the data provided by United Nations on Contraceptive Use by Method 2019, worldwide there were around 842 million women who opted for modern contraceptive methods such as oral contraceptive pills, intrauterine devices, and others in the year 2019.

However, side effects associated with contraceptives and menstrual hygiene products along with social stigma associated with reproductive health, particularly among unmarried women may act as another key restraining factor to the women’s health market growth.

The Women’s Health market reported a short period of restraint due to the implementation of lockdown as necessary measures to control COVID-19 infection transmission. The COVID-19 pandemic resulted in the massive reorganization of healthcare services. Many countries segregated medical procedures based on the need for urgent medical care to streamline the workflow during the COVID-19 crisis and saw various medical procedures considered elective being suspended. The diagnosis and treatment of breast cancer and other chronic diseases, fertility and pregnancy tests, and other checkups were suspended ultimately affecting women’s health market. However, the resumption of activities across industries including the healthcare sector has been uplifting for the women’s health market again and is expected to grow during the forecast period from 2024-2030.

Women’s Health Market Segment Analysis:

Women’s Health Market by Product Type (Drugs and Devices), Application (Breast Cancer, Female Reproductive System Diseases, Birth Control, Fertility, Menopause, and Others ), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Based on the product type segment of the women’s health market, the devices category is projected to register significant growth in revenue in the case of the women’s health market during the forecast period (2024-2030). This can be ascribed to the applications and advantages associated with different women's health devices. 

Medical devices such as Mammography systems, and others widely used for the diagnosis of breast cancer are going to register significant market growth owing to the growing prevalence of breast cancer across the globe. For example, as per the data provided by Globocan 2020, globally breast cancer was the most prevalent cancer type exhibiting an 11.7% prevalence rate in 2020.

Moreover, the rise in demand for breast pumps that are used for extracting milk by lactating women is another driver for the women’s health market. The breast pumps allow working mothers to store milk which can be later fed to the baby, along with stimulating lactation in women with low milk production.

Additionally, stress incontinence and urge incontinence are two types of urinary incontinence conditions that affect twice as many women as men owing to factors such as pregnancy, childbirth, and menopause, among others across the world. For instance, as per the U.S. Department of Health and Human Services 2021, around 4 in 10 women aged 65 and older have urinary incontinence. Also, as per the same data, 4 or more in 10 women get urinary incontinence during pregnancy. This indicates the need for urinary incontinence diagnosis and treatment devices and therefore driving the growth of the women’s health market.

Therefore, considering the growing demand for various women's health devices numerous new products are also being launched in the market. In April 2022, Ardo Medical, Inc., introduced the Ardo Alyssa breast pump which is the first and only breast pump with Personal Power Pump™ function intended to improve milk supply.

Also, in July 2022, Renovia Inc. received U.S. Food and Drug Administration (FDA) clearance for its product leva® Pelvic Health System which is intended for the first-line treatment of chronic fecal incontinence (FI) in women. Therefore, considering the advantages associated with women’s health devices and their growing popularity among women, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global women’s health market during the forecast period.

North America is expected to dominate the overall Women’s Health Market:

Among all the regions, North America is expected to lead in revenue generation in the global women’s health market. This can be ascribed to the presence of a large women population associated with female reproductive system diseases, an increase in age-related health issues, high consumer awareness regarding disease diagnosis and treatment, and a highly potent market in terms of product development and launches, with the presence of key market players among other factors in the region.

The prevalence of female reproductive system diseases such as cervical cancer, endometriosis, sexually transmitted diseases, and others is one of the prominent factors supporting the growth of the North America women’s health market. For instance, according to the American Cancer Society 2022, around 19,880 women will be diagnosed with ovarian cancer in the year 2022 in the U.S. Also, as per the same source around 14,100 new cases of cervical cancer will resurface in the year 2022 in the U.S. region. Thus driving the growth of the women’s health market in the region.

Further, age-related diseases such as osteoporosis is highly prevalent among women in the U.S. region. According to the Centers for Disease Control and Prevention 2021, 18.8% of women aged 50 or above had osteoporosis of the femur neck or lumbar spine in 2017-2018 in the U.S. This indicates the need for diagnosis and treatment facilities for aged women thus accelerating the overall women’s health market.

Moreover, the various programs run by government organizations to educate and aware women of various health aspects is another driving factor in the women’s health market in the U.S. The Office on Women's Health under the U.S. Department of Health & Human Services is responsible for conducting various activities and programs with the objective to aware women of different health issues and related policies. For example, the Breast Cancer Patient Education program educates women undergoing mastectomy on breast reconstruction and prostheses. Also, to support safe pregnancies and healthy babies U.S. Department of Health and Human Services (HHS) awarded each state $350 million in 2021.

Therefore, the presence of a large women population coupled with the increasing focus of government on educating women on their health would drive the demand for women’s health products in North America. 

Women’s Health Market Key Players:

Some of the key market players operating in the Women’s Health Market include AbbVie Inc., Abbott, Eli Lilly and Company, Agile Therapeutics®, Willow Innovations, Inc., Pfizer Inc., LUPIN, AstraZeneca, Torrent Pharmaceuticals Ltd., Bayer AG, Renovia Inc., Hologic, Inc, BD, Koninklijke Philips N.V., Danaher, The Feminina Group Inc., Chiaro Technology Ltd., Redcliffe Hygiene Private Limited, AceWin Co., Ltd., Pigeon Corporation, and others.

Recent Developmental Activities in the Women’s Health Market:

• In October 2021, Eli Lilly and Company's received U.S. Food and Drug Administration (FDA) approval for its new drug named Verzenio® (abemaciclib). It is the first and only CDK4/6 Inhibitor for women with HR+ HER2- which are at high risk for breast cancer development.
• In June 2021, Organon was launched as a New Women’s Health Company, formed through a spinoff from Merck.
• In May 2021, Myovant Sciences and Pfizer Inc. received U.S. Food and Drug Administration (FDA) approval for MYFEMBREE® which is the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women.

Key Takeaways from the Women’s Health Market Report Study

• Market size analysis for current women’s health market size (2023), and market forecast for 6 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the women’s health market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened for last 3 years
• Key companies dominating the global women’s health market.
• Various opportunities available for the other competitor in the women’s health market space.
• What are the top performing segments in 2023? How these segments will perform in 2030.
• Which is the top-performing regions and countries in the current women’s health market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for women’s health market growth in the coming future?

Target Audience who can be benefited from this Women’s Health Market Report Study

• Women’s Health products providers
• Research organizations and consulting companies
• Contact Lenses-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in women’s health. 
• Various end users who want to know more about the women’s health market and latest technological developments in the women’s health market.

Frequently Asked Questions for Women’s Health Market:

1. What are women's health products?

Women’s health product includes medical devices, medications, and other products which are intended for improving a women’s life by solving various health-related and other issues of the women population.

2. What is the market for global Women’s Health?

The global women’s health market was valued at USD 31.94 billion in 2023, growing at a CAGR of 5.40% during the forecast period from 2024 to 2030 to reach USD 43.76 billion by 2030.

3. What are the drivers for the global Women’s Health market?

The women’s health market is slated to witness prosperity owing to factors such as the growing prevalence of chronic diseases such as breast cancer, and ovarian cancer, increasing menstrual disorders as well, and an increase in age-related health problems such as osteoporosis and others. Further, the growing focus on improving the safety, affordability, and usability of women’s health products is expected to result in appreciable revenue growth in the women’s health market during the forecast period (2024-2030).

4. Who are the key players operating in the global women’s health market?

Some of the key market players operating in the Women’s Health Market AbbVie Inc., Abbott, Eli Lilly and Company, Agile Therapeutics®, Willow Innovations, Inc., Pfizer Inc., LUPIN, AstraZeneca, Torrent Pharmaceuticals Ltd., Bayer AG, Renovia Inc., Hologic, Inc, BD, Koninklijke Philips N.V., Danaher, The Feminina Group Inc., Chiaro Technology Ltd., Redcliffe Hygiene Private Limited, AceWin Co., Ltd., Pigeon Corporation, and others.

5. Which region has the highest share in the women’s health market?

North America is expected to dominate the overall women’s health market during the forecast period, 2024 to 2030. This can be ascribed to the presence of a large women population associated with female reproductive system diseases such as cervical and ovarian cancer among others. Further, high consumer awareness regarding new market launches, the role of government in supporting women's health, a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.