Transparency Market Research Report Added "Menopausal Hot Flashes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023"
Albany, NY -- (SBWIRE) -- 01/06/2017 -- Massive rise in prevalence of menopausal vasomotor symptoms and active participation of government and private healthcare bodies in improving awareness about women's health in the past few significantly stimulated the growth of the global market for menopausal hot flashes. The market is on the cusp of a major transformation, owing majorly to the declining popularity of hormone-based therapies and patent expiries of blockbuster drugs and products.
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Transparency Market Research marks that the rising demand for non-hormonal drugs and products for treating menopausal hot flashes will have a sizeable impact on the overall development of the market in the next few years. The major dearth of such alternatives in the global menopausal hot flashes market's present product portfolio will result in the moderate growth prospects of the market through 2023. This factor, along with patent expiries of key products and drugs point the threat of generic drugs taking over the market in the next few years.
TMR analysts suggest that the market will expand at a CAGR of nearly 3.7% from 2015 to 2023. The market, which had an opportunity of US$ 3,774.5 mn in 2014, will rise to a valuation of US$5,284.1 mn by 2023.
Non-hormonal Therapies to Gain Traction
Hormone replacement therapies, comprising hormones such as estrogen and progestin remained at the forefront of treatment of menopausal hot flashes for a long time. However, several studies in the recent past have linked hormone therapies with a rise in health concerns such as a number of cancers and cardiovascular diseases in women. This has led to a sizeable decline in the overall global demand for hormone-based therapies for menopausal hot flashes. Through the segment dominated in the past, accounting for over 95% in the overall market in 2014, it is expected to expand at a mere 3.2% CAGR through 2023.
In stark contrast, the demand for non-hormonal therapies for menopausal hot flashes will rise at a handsome 13.8% CAGR over the period between 2015 and 2023. The segment of non-hormonal therapies will not be able to surpass the segment of hormonal therapies anytime soon owing to the latter's excellent penetration in the global market. But the focus of product manufacturers on this segment will see a massive rise.
North America to Lead but Developing Regions to Provide Most Promising Growth Opportunities
North America is presently the leading regional market for menopausal hot flashes owing to the high prevalence of menopausal vasomotor symptoms in the region. It accounted for a massive 66% share in the global menopausal hot flashes market in 2014. Europe followed with a comparatively moderate 17.9% share in the global market in the same year. The high awareness about the condition among women along with the rising population of women aged between 40-65 years will enable these regions to be the most prominent drivers of the global market through 2023 as well.
However, the market will also witness increased traction in Asia Pacific, where it will exhibit the highest CAGR of 6.7% over the period between 2015 and 2023. The swooping rise in health awareness among women, rising disposable incomes, and a large population base of women more in the age brackets of 35 and 65 years will be the key factors driving the market in Asia Pacific.
The highly fragmented global menopausal hot flashes market had the top eight companies account for nearly 50% share in 2014. Some of the leading vendors in the market are Pfizer, Inc., Novartis AG, Novo Nordisk, Teva Pharmaceutical Industries Ltd., Hisamitsu Pharmaceutical Co., Inc.
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