Menopause Market

Global Menopause Market Size (2023 to 2028)

The global menopause market is expected to grow at a CAGR of 6.64% during the forecast period. As a result, the global revenue is estimated to reach USD 25.44 billion by 2028 from USD 18.44 billion in 2023.

Menopause is a transition period for women aged 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 transition phase between the age of the 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 this period.

MARKET DRIVERS:

The growing global aging population of women is propelling the menopause market growth.

Women enter menopause in their 40s or 50s. Women consume various menopause products and services to counter menopause symptoms. According to the statistics published by the World Health Organization (WHO), an estimated 1.4 billion people are expected to be aged more than 60 years, in women are expected to be more. According to an article published by National Center for Biotechnology Information (NCBI), the number of menopausal and postmenopausal women is expected to increase to 1.2 billion by 2030. This growing aging population of women is anticipated to boost the demand for menopause products such as hormone replacement therapies (HRT), natural remedies, and OTC products.

The growing adoption of changes in lifestyles and dietary habits among women is boosting the growth rate of the menopause market.

The consumption of smoking and alcohol among women has increased in many countries. In addition, many women do not do much physical activity these days. Such factors can accelerate the symptoms of menopause and result in an increasing need for menopause products and services. According to the data published by the World Health Organization (WHO), an estimated 7.8% of women's population worldwide consumed tobacco. Tobacco consumption is a notable risk factor for menopause-health issues such as osteoporosis, cardiovascular disease, and hot flashes. On the other hand, many women are not doing any physical activities, eventually resulting in the overweight and other issues that can make the menopause symptoms even worse. Factors like these are anticipated to contribute to the growth rate of the menopause market.

The growing awareness and education among women regarding the issues of menopause and available solutions are expected to promote the menopause market growth.

The growing number of advancements in medical research to innovate various menopause treatments and products are expected to fuel the market's growth rate. In recent years, several key market participants have conducted research and developmental activities to bring various menopause products and treatments to the market to address the symptoms of menopause. For instance, several non-hormonal drugs have been developed by market participants in recent years that can effectively impact hot flashes and other menopause symptoms. Owing to the growing number of menopause products and services entering the market, the demand for these products is expected to fuel during the forecast period.

Furthermore, factors such as the increasing role of technology in the R&D and manufacturing processes of new menopause products, increasing healthcare expenditure, increasing availability of OTC products, rising disposable income and the increasing population suffering from chronic diseases are propelling the menopause market growth. 

MARKET RESTRAINTS:

The market is restrained by the many side effects of specific menopause symptom treatment procedures like hormone replacement, which 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.

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 production and supply chain hindrances 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

REPORT COVERAGE:

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:

• Hormonal Products
• Non-Hormonal Products

• Dietary Supplements

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. For the reduction of menopause, hormonal therapy is the way, but it has some side effects in the long term. For this, most people suffering from menopause are given dietary supplements to reduce the issues caused by menopause. Dietary supplements include vitamins, minerals, herbs, or other amino acids, which are taken in the form of food, capsules, liquid, and pills. In addition, some food supplements, such as Black Cohosh, Calcium, Flaxseed, Vitamin D, etc., are used to prevent or reduce menopause issues. 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:

• Hospitals

• Retail
• Online Pharmacies

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:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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. Nearly 1.5 million women are suffering from menopause each year in the US. Market players are interested in developing different products to relieve menopause symptoms which drives the market forward in this region. In Canada, the average age of menopause is 51.5 years. However, it may occur between 40-55 years of age. Nearly twenty percent of people have severe symptoms of this issue. The Menopause Foundation of Canada (MFC) has created awareness about the impact of menopause on women by conducting programs on special days. The number of people suffering from menopause is expected to increase in the coming years.

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. Nearly 75% of women are suffering from menopausal symptoms. These symptoms will affect their life both personally and professionally. Increasing premature menopause in women due to biological reasons and more prolonged exposure to severe symptoms will drive the market forward. Most women in India experience this menopause symptom between the ages of 25–40. Factors such as changes in lifestyle such as smoking, drinking, thyroid or auto-immune diseases, exposure to radiation like chemotherapy or radiotherapy, and poor nutrition are the causes of premature menopause. In China, for menopause treatment, Chinese herbal medicine is used in most hospitals. The researcher has found different types of treatment with fewer adverse effects. Generally, these herbs are used to treat dysmenorrhoea and irregular menstruation and as a supportive herb for menopausal issues. This herbal treatment is increasing in China for menopausal symptoms, which drives the menopause market in this region.

European region also drives the menopause market during the forecast period. In France, women get menopause at the age of 51. The European Menopause and Andropause Society (EMAS) has announced that it is good in the progress of menopause treatment. Rising demand for menopause hormonal therapy in the United Kingdom drives the menopause market in this region. Increasing awareness and knowledge about menopause symptoms in women will make women take early detection of menopause issues and find the appropriate treatment.

Latin America also has a significant share in the growth of the market. In Latin America, the Collaborative Group for Research of the Climacteric has conducted several types of research on menopause according to age. They also study how menopause affects the quality of life, climacteric symptoms, sexual dysfunction, poor quality of sleep, and insomnia. They also study menopausal hormone therapy (MHT) in the general population and among gynecologists. 

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 MARKET HAPPENINGS:

• In September 2022, Women were being urged to #PressPlay on conversations about menopause by Elda Health, India's first and only full-stack, one-stop digital FemTech health start-up serving women during their menopausal and pre-menopausal years. The purpose is to end the taboos and silence around this subject, which also signals the start of new chances for women.
• In September 2022, this fall, Naomi Watts will introduce Stripes, her new menopause health company, in collaboration with Amyris. Global Cosmetic Industry first covered the alliance's launch with Amyris in August 2021. Watts stated, "I've felt isolated, bewildered, and overwhelmed by menopause's stigma and lack of social support. By working together with Amyris, we hope to provide menopausal women in all stages with goods, equipment, and information that encourage and empower us both physically and emotionally."
• In 2022, Bonafide partnered with SAM-e Nutritional Technology to develop a new natural approach to manage menopause symptoms.
• In 2021, Theramex company obtained the Femarelle® product license to treat menopause symptoms. These products will be available in different markets from the middle of 2022. This drug is used to balance the estrogen levels in women from perimenopause through menopause to post-menopause, relieving the symptoms and conditions.
• In 2021, Hum Nutrition started an estrogen-free menopause treatment to relieve menopause symptoms. In addition, hum Nutrition company provides campaigns to help women feel awareness about menopause and strengthen their minds.
• In 2020, Bayer partnered with Kandy Therapeutics Ltd to develop women's healthcare. Kandy Therapeutics Ltd. has released medication for symptoms of menopause, hot flashes, and night sweats. In addition, Bayer offers various short- and long-acting birth control methods and therapies for menopause management and gynecological diseases.