Introduction
The size of the global Women’s Health Market is anticipated to reach approximately US$ 66 Billion by 2033, rising from US$ 41.3 Billion in 2023. This growth represents a CAGR of 4.8% during the projection span from 2024 to 2033. North America currently dominates the market, holding a significant share of over 38.7% with a revenue of US$ 15.9 Billion in 2023.
This increase is primarily driven by innovations in medical technology, including telehealth and personalized medicine, which enhance accessibility and customization in treatments, particularly in areas like mental health and preventive care.
Challenges such as strict regulatory frameworks and high treatment costs persist in the market. Regulatory hurdles, particularly restrictive abortion laws in various regions, greatly impact market dynamics by limiting product availability and service provisions. Additionally, healthcare expenses remain a barrier to access, especially in developing regions. According to the World Bank, each year, over 100 million individuals fall into poverty due to medical expenses, with women bearing a disproportionate burden.
Despite these challenges, the market is on an upward trajectory, buoyed by heightened awareness of women’s health needs and ongoing technological advancements. Efforts to address these challenges include innovations in diagnostics and treatments, alongside government initiatives aimed at enhancing healthcare access and quality for women. Notably, increased investments in women-centered health technologies underline a significant shift towards more personalized healthcare solutions.
The sector is currently experiencing dynamic growth and transformation, spurred by substantial investments in fertility treatments and telemedicine. In May 2023, MegaFood introduced a new supplement line focused on hormonal and mood balance for women, illustrating the market’s responsiveness to women’s unique health requirements.
Moreover, increasing investments in women’s health reflect a growing recognition of its societal and economic significance. In 2023, there was a surge in funding for health technology tailored to women, indicating a commitment to fostering inclusive healthcare innovations. The U.S. government also announced a $100 million investment aimed at women’s health research, targeting historically overlooked funding gaps.
In summary, the women’s health market is well-positioned for sustained growth, bolstered by advanced treatment options, increasing awareness, and robust investments, thus laying a solid foundation for future developments in this essential sector.
Key Takeaways
- The Women’s Health Market is projected to grow from USD 41.3 billion in 2023 to USD 66 billion by 2033, with a 4.8% CAGR.
- Gynecological conditions dominate the market segments, accounting for over 37% due to rising disease prevalence and advancements in diagnostics and treatments.
- Adult women represent the largest age group in the market, making up more than 46%, highlighting the diverse healthcare needs ranging from reproductive health to chronic disease management.
- North America maintains its leadership in the global market, holding a 38.7% share, equivalent to USD 15.9 billion in 2023, driven by a robust healthcare infrastructure and increased awareness.
Women’s Health Statistics (2022)
- High Blood Pressure Testing
- 36% of women were tested for high blood pressure, an increase from 33% in 2020.
- Approximately 2 billion women remained unscreened, including over 500 million women aged 40 and older.
- Cancer Testing
- 11% of women were tested for any cancer type, remaining stable from previous years.
- For women aged 40-49, testing rates dropped to 11%, down from 17% in 2020.
- Diabetes Testing
- 19% of women were screened for diabetes, consistent with past years.
- 81% of women have not been tested for diabetes in the last three years.
- STD/STI Testing
- A mere 10% of women were tested for STDs/STIs, remaining unchanged from previous years.
- Almost 2 billion reproductive-age women went unscreened for STDs/STIs.
- Emotional Well-being
- 4 out of 10 women experienced worry and stress in the preceding day.
- 3 out of 10 women reported feelings of sadness, and 1 out of 4 experienced anger.
- Women are 20% more likely to feel sadness daily compared to men.
- Safety Concerns
- 34% of women do not feel secure walking alone at night in their neighborhoods.
- Over 40% of women aged 15-24 feel unsafe walking alone at night.
- Satisfaction with Healthcare
- About 70% of women express satisfaction with the availability of quality healthcare.
- Women’s satisfaction levels have shown improvement compared to previous years.
- Affordability of Basic Needs
- Close to 1 billion women worldwide struggle to afford basic needs such as food and shelter.
- 3 out of 10 women find it difficult to meet basic necessities.
- Physical Health
- 1 out of 3 women experienced physical pain for much of the previous day.
- 1 out of 4 women have health issues that hinder their daily activities.
- Physical Activity
- In 2020, only 20.4% of women met guidelines for aerobic and muscle-strengthening activities.
- Physical activity declines with age: 28.7% of women aged 18-34 meet guidelines compared to 10.8% of those aged 65 and older.
- Non-Hispanic White women (24.3%) are generally more active than Hispanic (18.0%) and non-Hispanic Black women (16.5%).
- Women with family income above 200% of the federal poverty level (25.9%) are more active than those below the poverty line (9.9%).
- Health and Economic Impacts
- While women generally live longer, they spend 25% more years in poor health.
- Closing the women’s health gap could add 7 quality life days annually for 3.9 billion women worldwide.
- Addressing this gap could increase global GDP by $1 trillion by 2040, equating to 137 million full-time jobs.
- 64 conditions contribute to 86% of the global disease burden on women (excluding injuries).
- Sexual and reproductive health accounts for only 5% of women’s health burden, while nearly 50% is attributed to conditions like headaches and autoimmune diseases.
- Diagnosis and Treatment Gaps
- Women face 15-40% more years in poor health than men globally.
- In the U.S., women endure 18% more years in poor health than men.
- Poor maternal health and high childbirth mortality rates in low- and middle-income countries exacerbate health disparities.
- Differences in care delivery account for 1/3 of the women’s health gap.
- Fewer than 50% of U.S. women with endometriosis have a documented diagnosis.
- Women are diagnosed later than men for specific cancers and diabetes.
- Only 50% of the 650 research papers reviewed analyzed sex-disaggregated data, with 2/3 revealing disadvantages for women.
- Innovations and Insights
- UNICEF’s low-cost uterine balloon tamponade device effectively addresses postpartum hemorrhage with a success rate of 95%.
- Postpartum hemorrhage results in the deaths of 130,000 women globally each year.
- Only 1% of healthcare research funding is dedicated to female-specific conditions beyond oncology.
- Women experiencing heart attacks are 50% more likely to be misdiagnosed than men.
- Endometriosis affects 10% of women of reproductive age globally, yet only 20% of cases are diagnosed in the U.S.
- Girls are 3 times less likely to be diagnosed with autism compared to boys.
Emerging Trends in Women’s Health
- Personalized Health Solutions: The women’s health industry is embracing tailored healthcare, leveraging technological advancements. Health products and services are increasingly utilizing biometric data to provide customized recommendations. Integrating generative AI into applications and wearables allows for creating individualized wellness plans, which enhances the delivery of personalized care.
- Rise of Female-Centric Health Brands: New brands are emerging that specifically cater to women’s health issues, including menopause, fertility, and overall wellness. These brands address gaps often overlooked by traditional healthcare providers, offering specialized products and services tailored to women’s unique health needs and promoting inclusivity in healthcare.
- Shift Towards Natural Remedies: A growing preference for natural treatments is evident as more women choose vitamins, herbal remedies, and supplements for improved well-being. Since 2020, the use of herbal and natural medicines among American women has increased by 18%, indicating a shift away from conventional pharmaceuticals.
- Focus on Gut Health: The connection between gut health and women-specific issues, such as PCOS, is gaining importance. Probiotics and digestive health supplements are increasingly becoming part of daily routines as women prioritize gut health for overall wellness.
- Innovations in Pregnancy Monitoring: Technological advancements are revolutionizing pregnancy care with digital tools and applications that connect to wearable devices. These innovations facilitate real-time monitoring of vital signs, granting greater autonomy and enhanced healthcare access to expectant mothers.
- Growing Investments in Women’s Health: Despite a general decline in venture capital funding, investment in women’s health technologies is continuing to rise, with a recent recorded increase of 5%. This trend emphasizes the sector’s significance and potential, propelling innovation and advancements in women’s health solutions.
Key Players in the Women’s Health Market
- AbbVie Inc.: After acquiring Allergan, AbbVie gained a robust women’s health portfolio valued at around $5 billion, which it is now seeking to divest. This strategy aligns with AbbVie’s focus on reducing debts from the Allergan acquisition and prioritizing core areas like immunology and oncology, signaling a move away from women’s health medications.
- Bayer AG: Bayer is at the forefront of innovation in women’s health, developing elinzanetant, a non-hormonal treatment for menopausal symptoms. Results from Bayer’s OASIS clinical program have demonstrated significant progress in managing vasomotor symptoms and improving sleep quality, reaffirming its commitment to addressing the unmet needs in women’s health.
- Merck & Co., Inc.: Merck recently spun off its women’s health division into an independent entity, Organon, to dedicate focus specifically to this market segment. With around 60 treatments in its repertoire, Organon strives to meet global women’s healthcare demands while Merck sharpens its focus on core growth areas.
- Pfizer Inc.: In collaboration with Myovant Sciences, Pfizer developed MYFEMBREE, approved for addressing endometriosis-related pain and heavy menstrual bleeding from uterine fibroids. This achievement underscores Pfizer’s commitment to tackling prevalent issues in women’s health.
- Teva Pharmaceutical Industries Ltd.: Teva sold its women’s health portfolio to CVC Capital Partners in 2018 for $703 million, which included products related to contraception, fertility, menopause, and osteoporosis. This decision was part of a broader endeavor to streamline operations and prioritize core business areas.
- Agile Therapeutics: Agile has broadened the market for its contraceptive patch, Twirla, through a partnership with FPA Women’s Health, expecting revenue increases to $25-$30 million, thereby enhancing Agile’s footprint in women’s healthcare.
- Amgen Inc.: Amgen advocates for women’s health through initiatives like “Her Health First,” targeting osteoporosis, heart disease, and cancer, with a focus on reducing related fractures and promoting long-term care strategies.
- Apothecus Pharmaceutical Corp.: Apothecus specializes in non-hormonal contraceptives, offering products like VCF Vaginal Contraceptive Film and Gel. These hormone-free options are readily available across U.S. retailers, reflecting a commitment to advancing women’s reproductive health.
- Blairex Laboratories Inc.: Blairex has significantly expanded its portfolio in the women’s health market, focusing on over-the-counter solutions that position the company as a vital contributor to innovative women’s health product development.
- Ferring B.V.: Ferring emphasizes its commitment to reproductive and maternal health, actively engaging in global forums such as the Women’s Health Innovation Summit, highlighting its leadership role in advancing solutions to improve women’s health outcomes worldwide.
Conclusion
The women’s health market is projected to grow from USD 41.3 billion in 2023 to USD 66 billion by 2033, with an anticipated CAGR of 4.8%. This growth is powered by advancements in medical technologies, including telehealth and personalized medicine, which enhance accessibility and customization of treatments. Nonetheless, challenges such as high treatment costs and regulatory hurdles, particularly regarding restrictive abortion laws, continue to influence market dynamics.
Prominent trends include increasing investments in women-specific health technologies, innovations in fertility solutions, and a noticeable shift towards natural remedies. Despite these obstacles, ongoing efforts to bridge care gaps and improve healthcare access are driving market expansion. Leading firms like Bayer and Merck are spearheading innovation in women’s health, positioning the sector for enduring growth.
