GLOBAL MENOPAUSE TREATMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global menopause treatment market was valued US$ 15.33 Bn in 2023 and is expected to reach US$ 24.33 Bn by 2031 growing at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.

Global Menopause Treatment Market - Regional Insights

• North America is expected to be the largest market for menopause treatment during the forecast period, accounting for over 43.7% of the market share in 2023. North America has established itself as the dominant region in the global menopause treatment market.
• Asia Pacific is expected to be the second-largest market for menopause treatment market, accounting for over 25.2% of the market share in 2023. Asia Pacific has emerged as the fastest-growing regional market, fueled by rapid economic expansion, growing medical tourism, and universal healthcare initiatives in nations such as India, China, Singapore, and South Korea. While the cost of permanent healthcare employment is significant, there is a burgeoning demand for affordably priced quality services. This provides scope for temporary staffing agencies that can flexibly deploy cost-effective personnel according to seasonal or project-based needs.

Figure 1. Global Menopause Treatment Market Share (%), By Region, 2023

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Analyst’s Views:

The menopause treatment market is poised to grow significantly over the coming years. The aging population across developed countries is driving the demand as the number of women experiencing menopause symptoms will rise significantly. Developed markets in North America and Western Europe currently dominate sales, but growth opportunities are greatest in developing regions as women's health awareness and disposable incomes rise. The main drivers fueling market expansion include growing acceptance and demand for hormone therapy (HT) to alleviate symptoms. Symptoms like hot flashes and night sweats negatively impact the quality of life, pushing more women to seek treatment options. Additionally, education around menopause is being prioritized to reduce stigma and emphasize menopause as a natural phase or illness. While HT remains the frontline treatment, alternatives are gaining traction. Herbal supplements and nutraceuticals provide non-hormonal relief for mild-to-moderate symptoms. Demand for these will increase as concerns linger around long-term HT usage. Innovation in delivery methods like transdermal patches and gels improves medication adherence.

Global Menopause Treatment Market- Drivers

• Increasing Geriatric population: As life expectancy around the world continues to increase significantly, more women are experiencing menopause and its symptoms. In the past century alone, global average life expectancy has risen from about 30 years to over 70 years today according to World Health Organization estimates. Countries with traditionally high life expectancies, such as Japan, Canada, and parts of Europe, now have average lifespans exceeding 80 years. This is having a profound impact on women's health issues. More women now live well into their 60s, 70s, and beyond, and consequently experience menopause later in life compared to previous generations. With an aging global population driven by better public health, medical advancements, and lifestyle factors, the number of women experiencing menopause symptoms each year is increasing steadily. This allows for a larger target market segment seeking effective treatment options to cope with the physical and psychological effects of this natural phase of life.
• Growing Awareness and Conversation around Menopause: In recent years, there has been a noticeable increase in public discussion, media coverage, and open conversation surrounding menopause and its impacts. Popular books, blogs, and forums have helped educate women on what to expect during this transition and normalize the symptoms that were once largely kept private. High profile figures like television hosts and celebrities have begun sharing their own personal menopause journeys, helping reduce stigma. Medical experts have also worked to increase clinical understanding of menopause and communicate the latest research findings to not just doctors but women themselves. Grassroots movements advocate for greater consideration of women's health issues at all stages of life. This growing societal awareness has played a role in empowering more women to proactively seek information and treatment, placing importance on managing their well-being through menopause rather than simply enduring its effects. It has also encouraged pharmaceutical developers and medical solution providers to invest more heavily in innovative menopause therapies in response to anticipated demand from an emerging consumer segment that is increasingly informed and willing to discuss feminine health issues openly.

Global Menopause Treatment Market- Opportunities

• Untapped emerging markets potential: Untapped emerging markets could provide significant potential growth opportunities for the global menopause treatment market. Many emerging economies in regions like Asia Pacific, Latin America, the Middle East and Africa are undergoing rapid urbanization and lifestyle changes. As living standards and rising disposable incomes in these nations, physical and mental healthcare are gaining higher priority. The taboos associated with discussing problems related to menopause are also gradually reducing in such communities. This growing awareness and acceptance, combined with the huge population base of countries like India, Brazil, and Indonesia, points towards a massive patient pool seeking effective menopause remedies. As per a 2021 report by the United Nations, India is projected to surpass China as the world's most populous nation by 2023. Similarly, the populations of Nigeria, Pakistan, and other developing countries are expanding rapidly. Since menopause is a natural biological process experienced by nearly all women aged 45-55 years, this demographic growth translates to a corresponding expansion in the target consumer segment over time.

Global Menopause Treatment Market – Trends

• Combination therapy practices: Combination therapy practices have significantly influenced the global menopause treatment market in recent years. With the rise in awareness about safer and more effective treatment options beyond hormone replacement therapy alone, combination therapies are being increasingly adopted by patients and doctors. Combination therapies involve the use of two or more medical approaches together. For menopause, this often includes combining low-dose HRT with other supplements or medications. For example, pairing a selective estrogen receptor modulator like ospemifene with a low-dose estrogen preparation. Or combining an SSRI antidepressant like paroxetine with a low-dose local estrogen. The goal is to attain relief from multiple symptoms like hot flashes, mood issues, sleep problems, and vaginal dryness using synergistic therapies with lower individual doses. This multi-targeted approach is effective at improving quality of life and also lowers health risks associated with high HRT doses.

Global Menopause Treatment Market - Restraints

• Side effects of HRT drugs: The side effects of hormone replacement therapy drugs have been a major restraint for the growth of the global menopause treatment market. With increasing awareness about the health risks associated with long term use of HRT, many women are hesitant to opt for it. While HRT is effective in treating various menopausal symptoms in the short term, studies have shown that its usage over more than 5 years may increase the risk of serious health conditions. One of the major concerns with prolonged use of HRT is the increased risk of breast cancer. According to research published by the National Cancer Institute in 2022, women who use estrogen-only therapy for more than 5 years are around 1.3 times more likely to develop invasive breast cancer as compared to women who have never used HRT. Similarly, combined estrogen and progestin therapy for over 5 years increases the risk by around 1.2 times. These risks associated with long term therapy have created doubts in the minds of women and made them skeptical about opting for HRT for managing menopausal symptoms.
• Counterbalance – Thus, key market players should form strategic alliances with other providers or healthcare networks to increase their bargaining power with payers, capitalize on shared resources, and ensure that healthcare providers and staff are educated about the latest best practices in documentation and coding, which are essential for maximizing reimbursement.

Figure 2. Global Menopause Treatment Market Share (%), By Treatment Type, 2023

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Global Menopause Treatment Market- Recent Developments

Acquisition and Partnership

• On September 8, 2023, LifeMD, Inc., a leading provider of virtual primary care services, announced a partnership with ASCEND Therapeutics, Inc., a U.S. specialty pharmaceutical company concentrating on hormone therapies. With this partnership ASCEND Therapeutics, Inc., to enter into Integrated Direct-to-Consumer Telehealth Model for hormone therapy
• In August 2020, Bayer AG, a global leader in women’s healthcare, announced the acquisition of KaNDy Therapeutics Ltd, a U.K. clinical-stage biotech company, to expand the company’s drug development pipeline in women’s healthcare.

Top Companies in the Global Menopause Treatment Market

• Novartis AG
• Pfizer Inc.
• Bayer AG
• Teva Pharmaceutical Industries Ltd.
• AbbVie Inc.
• Novo Nordisk A/S
• illendo Therapeutics, Inc.
• Mithra Pharmaceuticals
• Merck & Co., Inc
• Cipla Inc.
• Abbott
• Viatris Inc.
• Organon
• SnapNurse
• Glenmark Pharmaceuticals Limited
• Procter & Gamble
• Duchesnay USA.
• TherapeuticsMD, Inc.
• Avion Pharmaceuticals
• KWS
• PharmaCare Europe Ltd.
• Amneal Pharmaceuticals LLC.

Definition: The menopause treatment market encompasses a range of medical interventions and products aimed at providing relief from the symptoms associated with menopause and addressing the health challenges that can arise during this stage of a woman's life. Menopause is a natural biological process characterized by the cessation of menstruation and the end of fertility, typically occurring in women in their late 40s to mid-50s.

Menopause is a natural biological process that usually occurs in women between 45 and 55 years of age, which marks the end of their menstrual cycles. As the ovaries gradually stop releasing eggs, a woman has entered menopause when she goes 12 consecutive months without a menstrual period. This transition period can last for several years and is accompanied by various symptoms like hot flashes, difficulty sleeping, mood changes, vaginal dryness, etc. due to decreasing estrogen levels in the body.

There are different types of treatments available to provide relief from these uncomfortable menopause symptoms. Hormone replacement therapy (HRT), using estrogen and progestin supplements is very effective in reducing hot flashes and night sweats and helps prevent issues like osteoporosis. However, long-term use of HRT may increase the risk of certain cancers and heart diseases. Herbal supplements containing black cohosh and red clover extracts can also help control mild to moderate menopausal symptoms, but their efficacy is not scientifically proven. Non-hormonal prescriptions involving antidepressants and gabapentin are additionally prescribed for specifically reducing hot flashes and night sweats. Lifestyle changes focusing on diet, exercise, stress management and vaginal lubricants and moisturizers are valuable non-drug options utilized for combating menopause symptoms.