Menopausal Hot Flashes Market: Introduction
According to the report, the global menopausal hot flashes market was valued at approximately US$ 9.5 Bn in 2018. It is expected to expand at a CAGR of 6% during the forecast period from 2019 to 2027. Menopause is the time, which marks the end of a woman’s menstrual cycle. This can happen majorly in the age period between 40s or 50s. The most common menopausal symptoms, including vasomotor symptoms (hot flashes), insomnia, vaginal atrophy, altered cognitive function, dementia, depression, and loss of muscle mass, can affect up to 80% of women during menopause and may be severe in up to 20% of these women. The use of hormone replacement therapy (HRT) alleviates menopausal symptoms and lead to a major improvement in quality of life for women with menopausal symptoms. Alternative therapies such as herbal drugs are also effective in treating the vasomotor symptoms, urogenital atrophy symptoms, and irregular menstrual bleeding that occur in the premenopausal period. The market is dominated by North America region in 2018, which is expected to dominate by the end of 2027.
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Growing Population of Elderly Women Worldwide and Rise in Menopausal Vasomotor Symptoms Drive Menopausal Hot Flashes Market
Menopausal symptoms occur mostly after the age of 51 years. Rapidly increasing population of geriatric women leads to rise in the number of women with menopausal symptoms. According to the United Nations World Population Aging Report – 2017, women accounted for 54% share of the global population aged 60 years or above and 61% of that aged 80 years or above in 2017. Increase in awareness about women’s health through government initiatives have changed the scenario and people are focusing more on women’s health, which is driving the global menopausal hot flashes market. Moreover, development of advanced products with alternative mode of administration and changes in lifestyle associated with early menopause are some of the major factors responsible for the growth of global menopausal hot flashes market.
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Competition Landscape
Pfizer Inc., Novartis AG, and Novo Nordisk A/S are some of the leading players in the global menopausal hot flashes market. The global menopausal hot flashes market is fragmented in terms of number of players with entry of several generic players. Key players in the global market include Pfizer Inc., Novartis AG, Novo Nordisk A/S, Allergan plc, Teva Pharmaceutical Industries Ltd., Mylan N.V., Hisamitsu Pharmaceutical Co., Inc., Merck & Co., Inc., GlaxoSmithKline plc, and TherapeuticsMD, Inc. New product approvals & launch of generic versions, strategic collaborations & partnerships, and extensive research & development activities are some of the key strategies adopted by major players in the menopausal hot flashes market
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Growing Adoption for Online Purchases
Based on distribution channel, the global menopausal hot flashes market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the global menopausal hot flashes market due to better supply chain management and rise in number of patient admissions to hospitals. The online pharmacies segment is expected to grow at a comparatively higher CAGR during the forecast period, owing to growing adoption for online purchase due to better discount rates and convenience to patients.
North America to Dominate Global Market
In terms of region, the global menopausal hot flashes market has been divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the global menopausal hot flashes market in 2018. North America accounted for a major share of the global menopausal hot flashes market in 2018 due to growing baby boomer population, high health care expenditure, and large number of prescriptions of hormonal as well as non-hormonal treatment products. For instance, in the U.S., around 40 million post-menopausal women are present and this number is increasing at a rate of 4,000 per day, due to the aging ‘baby boomer’ population. Asia Pacific is projected to grow with higher CAGR during the forecast period. This growth can be ascribed to rise in elderly population, large number of women with menopausal symptoms, growing awareness among people, increasing medical tourism, and rising government initiatives for women’s health in the region.
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