The global menopause market is expected to grow at a CAGR of 7.10% during the forecast period.
Menopause is a transition period for women between the ages of 45-55. It is the 12 weeks after a woman's last period. As women age, they begin experiencing a decline in the intensity, duration, and occurrence of their period/menstrual cycles. The menstrual cycles slow and eventually stop when the woman is at an age where she can no longer produce eggs or carry children in the womb (uterus). Menopause is the phase of transition between the age of regular period to the gradual decline and end of the cycle. The period of menopause can last anywhere from 7 to 14 years, based on their characteristics. The menopause period can bring many bodily and dynamic health changes physically and mentally to women. There is a surge of hormonal and physical changes, and women may need continuous healthcare during the period.
Impact of covid-19 on the global menopause market:
Numerous effects of the epidemic are felt throughout the world. For example, Covid 19 destroyed several industries due to lockdowns, quarantines, and limitations on the manufacture of goods and the delivery of services. Examples include the difficulty in treating patients with chronic diseases due to inadequate hospital resources and the significant impact on the healthcare business of the surge in demand for healthcare personnel. Additionally, due to the pandemic, all hospital personnel and resources were redirected to care for patients.
The pandemic harmed the global menopause market. The market faced losses due to the hindrance in the production and supply chain for menopause relief products. In addition, the shutting down of the manufacturing process and the difficulty in retail sales led to a decline in market growth. The stress caused by the covid situation led to more problems in women's healthcare during menopause. The case led to more imbalance in hormones and vasomotor problems. However, the market is expected to bounce back in the post covid era as the demand for menopause products is rising.
The market is growing due to the rising problems women face due to menopause. The vasomotor issues, along with increased stress levels, mood swings, hot flashes, night sweats, etc., which can hinder the daily life of women, are leading to a demand for the treatment of menopausal symptoms. In addition, the cases of women facing anxiety and depression during their menopause keep rising, leading to a need for the market. Additionally, the sedentary lifestyles of the current generation are pushing more side effects with women's menopause. The rising numbers of female geriatric populations are another driver for the market.
Awareness campaigns and demand from women to support menopause market growth.
Multiple campaigns are occurring to spread awareness regarding the importance of menopause healthcare worldwide. "Let's talk menopause" is one such initiative by the world health organization, which continues to arrange campaigns and help women through tough times with talks and shows. Therefore, the social effort being made for the problems of menopause will propel the market's establishment. In addition, the growing rates of educated and salaried women are pushing the world to more awareness of the market.
Rising mergers and acquisitions among companies and investments, along with research and innovations in menopause symptoms treatment, will support market expansion. In addition, governments are more supportive of the cause and are encouraging companies to produce products for women in need. Furthermore, the increasing demand for dietary supplements and their proven use in suppressing menopause symptoms is pushing the market growth. Therefore, natural and manufactured nutritional supplements are encouraged, leading to market progress.
The market is restrained by the many side effects of specific menopause symptom treatment procedures like hormone replacement which is used to counter vasomotor symptoms. The hormone replacement treatment, however, has led to several problems like vaginal bleeding, blood clots, stroke, breast cancer, etc. therefore, more alternatives are being explored. The lack of resources and research on the subject is another market drawback.
The research report on the global menopause market has been segmented and sub-segmented based on the treatment type, distribution channel and region.
Global Menopause Market - By Treatment Type:
The Dietary supplements segment is currently dominating the market and is expected to continue dominating due to its benefits like having natural products, fewer side effects, and improved immune system. In addition, hormonal products have proven to be extremely harmful due to their side effects, and dietary supplements are now being explored as a replacement for hormonal products, pushing the market to grow.
Global Menopause Market - By Distribution Channel:
The hospital segment is expected to dominate the market during the forecast period due to hospitals' credibility and the daily large patient influx. In addition, hospitals have developed infrastructures and trained medical professionals to assist patients. They also have a widespread network to access various facilities and drugs. Therefore, the hospital's segment is expected to dominate the market.
Global Menopause Market - By Region:
The market in North America is expected to show the most significant revenue during the forecast period due to post-menstrual syndrome being prevalent and nutritional needs becoming more widely known; in North America. Both small and large market players are significant producers and suppliers. There is also growing awareness of women's health issues, higher older women's demands, highly supportive government policies, high healthcare costs, and R&D activities supporting the market growth in the region.
The market in Asia-Pacific and Latin America are also expected to grow at a fast pace during the forecast period due to the population that is aging at the highest rate. Furthermore, with women making up the majority, rising acceptance of dietary supplements for menopausal symptoms, high demand, disposable incomes, expanding awareness of women's health, and government initiatives in countries like China, India, Japan, etc., the market in the region will progress.
KEY MARKET PLAYERS:
There are several significant players in the global menopause market. Here are a few of the most prominent market players, Pure Encapsulations, LLC., Dr. Reddy's Laboratories Ltd., Rainbow Light, PADAGIS LLC, Abbott, Bayer AG, Theramex, AbbVie, Inc., etc.
RECENT HAPPENINGS IN THIS MARKET:
the menopause market is expected to grow at a CAGR of 7.10% during the forecast period 2022-2027
The market in North America is expected to show the most significant revenue during the forecast period
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