The Global Menopause Market is projected to witness substantial growth, with an expected market size of USD 24.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.37% from 2024 to 2030. This forecast is based on the latest “Global Menopause Market Size, Share & Trends Analysis Report” by ResearchAndMarkets.com.
Several factors are expected to drive this growth. Firstly, there’s a rising prevalence of post-menopausal syndrome globally. Secondly, there’s an increasing awareness regarding menopause-associated health aspects, leading to greater demand for effective treatments. Thirdly, the high adoption of women’s health apps is facilitating greater awareness and access to menopause-related information and support.
The market’s momentum is expected to be propelled by a shift towards the use of dietary supplements over Hormone Replacement Therapy (HRT). Many dietary supplements containing ingredients such as black cohosh, red clover, soy isoflavones, and amberen are gaining popularity. Manufacturers are actively developing new products targeting menopausal symptoms, contributing to market expansion. For instance, Morphus introduced several supplement products in 2023, including FiberUs, a soluble prebiotic fiber aimed at alleviating menopausal symptoms.
The demand for both dietary supplements and Over-The-Counter (OTC) pharmaceutical products surged in the post-pandemic scenario due to delays in physician appointments and the easy availability of OTC drugs from retail pharmacies and online channels. However, the market is now stabilizing as restrictions ease and awareness about menopause increases.
Furthermore, the market is witnessing a surge in FDA approvals for drugs addressing hot flashes and night sweats. Notably, in May 2023, the FDA approved fezolinetant, a non-hormonal medication branded as Veozah, designed specifically for individuals unable to take hormonal therapy, including breast cancer survivors experiencing vasomotor symptoms.
Key highlights from the Menopause Market Report include:
• Dietary supplements emerged as the dominant treatment segment in 2023, with expectations of continued rapid growth. Factors driving this include an aging population and the launch of innovative products.
• Within the OTC pharmaceutical products segment, there’s increasing utilization of hormone products by women undergoing menopause. Major products in this category include topical progesterone, ibuprofen, Dehydroepiandrosterone (DHEA), and melatonin.
• North America accounted for the largest revenue share in 2023, driven by growing awareness of dietary requirements among older women.
• Notable industry developments include Amyris, Inc.’s exclusive agreements to acquire MenoLabs, LLC., a company focused on menopause symptom treatment and women’s health research, and O Positive’s launch of the first menopause gummy vitamin in January 2023.
Overall, the global menopause market is poised for significant expansion driven by evolving consumer preferences, innovative product offerings, and increasing awareness about menopause-related health issues.
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