The global menopause treatment market is experiencing a surge, projected to reach USD 24.33 billion by 2031, growing at a CAGR of 5.9% from 2023. This growth is fueled by a confluence of factors, including increasing awareness of menopause symptoms and the demand for effective treatment options. The past few decades have witnessed a remarkable rise in the demand for menopause treatment products and drugs, prompting pharmaceutical companies to heavily invest in research and development to create more innovative and effective solutions. This has resulted in the emergence of products such as new bioidentical hormones, herbal supplements, and alternative treatment methods, offering effective symptom relief with minimal or no side effects.
One of the key drivers propelling the market is the rising prevalence of early menopause among women worldwide. Early menopause, occurring before the age of 40, can be attributed to natural causes or medical interventions like surgery. According to the World Health Organization (WHO), approximately 1% of women experience early or premature menopause. Furthermore, lifestyle changes, including rising stress levels, unhealthy diets, and excessive smoking, are contributing to the occurrence of early menopause, further driving the demand for effective treatment options globally.
Hormone Therapy Remains a Dominant Treatment:
Hormone therapy (HT), involving estrogen and progesterone (combined HT) or estrogen-only therapy, continues to be the most effective treatment prescribed by doctors worldwide for managing various symptoms associated with menopause. Studies indicate that over 60% of women experiencing severe menopause symptoms opt for HT. The effectiveness of estrogen replacement therapy (ERT) in managing climacteric symptoms, including hot flashes, night sweats, and vaginal dryness, makes the hormone therapy segment a dominant force in the menopause treatment market.
Herbal Supplements Gaining Traction:
With a growing preference for natural remedies over pharmaceutical drugs, the demand for herbal supplements for menopause relief is experiencing significant growth. Popular herbal supplements include red clover, black cohosh, and Macafem, readily available in the form of capsules and tablets, further boosting their adoption.
Non-Hormonal Therapies Offer Alternatives:
Non-hormonal therapies serve as an alternative for women who cannot or choose not to take hormone therapy. This segment includes anti-depressants, anti-seizure medications, and herbal/botanical remedies. Selective serotonin reuptake inhibitors (SSRIs) and serotonin-norepinephrine reuptake inhibitors (SNRIs) are commonly prescribed non-hormonal therapies, effectively reducing hot flash frequency and severity. Herbal supplements containing black cohosh and red clover are also gaining popularity.
Key Market Takeaways:
The global menopause treatment market is projected to witness a CAGR of 5.9% during the forecast period 2024-2031, driven by growing awareness about menopausal health and therapies. The hormone therapy segment, particularly estrogen receptor agonist/antagonist therapy, is expected to maintain a dominant position due to its widespread acceptance. The oral segment dominates based on the route of administration due to its ease of use. North America is anticipated to hold a dominant position throughout the forecast period, owing to high healthcare expenditure and awareness levels in the region.
Key Players in the Menopause Treatment Market:
Key players in the menopause treatment market include Novartis AG, Pfizer Inc., Bayer AG, Teva Pharmaceuticals Industries Ltd., AbbVive 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, Duckesnay USA, TherapeutoicsMD., Inc. These players are focused on developing advanced treatment solutions, reflecting the evolving landscape of the menopause treatment market.
