Global Menopause Market Size, Share, Growth Analysis, By Applications(Screening and Diagnosis), By End User(Hospital, Diagnostic Centres) - Industry Forecast 2023-2030

Menopause Market size was valued at USD 16.01 billion in 2021 and is poised to grow from USD 16.9 billion in 2022 to USD 24.4 billion by 2030, growing at a CAGR of 5.33% in the forecast period (2023-2030).

Menopause is a natural biological phase that signifies the end of a woman's reproductive years. Typically occurring between the ages of 45 and 55, it is characterized by the cessation of menstrual periods. Women going through menopause may encounter various symptoms, such as hot flashes, night sweats, mood swings, and vaginal dryness.

As a result of the prevalence of menopause and the associated symptoms, there is a growing market for products aimed at helping women manage these effects. This market includes nutritional supplements, herbal remedies, vitamins, minerals, and other dietary supplements, as well as over-the-counter and prescription medications. These products are designed to provide relief and support for women experiencing menopausal symptoms.

Top-down and bottom-up approaches were used to estimate and validate the size of the Menopause Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Menopause Market Segmental Analysis

Global Menopause Market is segmented based on treatment, and region. Based on treatment, the market is segmented into dietary supplements, OTC pharma products. Further, OTC pharma products is segmented into hormonal and non-hormonal. Based on region, the global Menopause Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The menopause market is being driven by various factors, including the aging population, increased awareness, lifestyle influences, and advancements in technology. Additionally, changing attitudes towards menopause and improved healthcare access and affordability are contributing to market growth.

As the global population ages, more women will go through menopause, leading to a larger market for menopause-related products and services. This demographic trend is expected to continue as life expectancies increase and birth rates decline in many regions. For example, in the United States, an estimated 2 million women experience menopause each year, which amounts to approximately 6,000 women daily. According to UN statistics, there were 985 million women aged 50 years or older in 2020, and this number is projected to reach 1.65 billion by 2050.

Growing public awareness of menopause and its symptoms has significantly contributed to the market for menopause products. Women are becoming more informed about the changes and health risks associated with menopause, leading to an increased demand for goods and services that can help manage menopause symptoms. Hormone therapy, herbal supplements, and lifestyle adjustments are some of the sought-after solutions due to this heightened awareness.

Restraints

Despite significant growth potential, the menopause market faces various challenges that may hinder its expansion. Safety concerns, lack of awareness and stigma, regulatory hurdles, and limited research and development are some of the factors contributing to these challenges.

Safety concerns have arisen regarding hormone replacement therapy (HRT), as studies have linked its use to higher risks of breast cancer, heart disease, and stroke in women. This has led to a growing demand for non-hormonal treatments, posing a challenge for businesses specializing in hormone-based therapies to address these safety issues effectively.

Menopause remains a taboo subject in many countries, leading to limited awareness and understanding of its impact on women's health. The lack of awareness and stigma surrounding menopause may reduce demand and make it difficult for businesses to effectively promote menopause goods and services.

The menopause market is subject to stringent regulatory standards, particularly for hormone-based treatments. Companies developing new medications and therapies must undergo rigorous safety and efficacy evaluations before receiving approval for use. Meeting these regulatory requirements can be a challenging process for market players.

Market Trends

Due to growing concerns about the potential risks associated with hormone-based treatments, an increasing number of women are seeking non-hormonal alternatives to manage the symptoms of menopause. This has led to a rising demand for non-hormonal therapies, including herbal medicines, cognitive-behavioral therapy (CBT), and mindfulness-based treatments, as effective options for addressing menopausal symptoms.