Albany, NY -- (SBWIRE) -- 05/14/2019 -- Transparency Market Research (TMR) has published a new report titled, "Gynecology Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". According to the report, the global gynecology drugs market was valued at US$ 53.376.96 Mn in 2017. It is projected to expand at a CAGR of 5.5% during forecast period. The global gynecology drugs market is anticipated to be driven by rising incidence and prevalence rate of gynecological diseases during the forecast period. The gynecology drugs market in Asia Pacific is expected to expand at a high CAGR of 6.3%, due to the high prevalence of diseases, improvements in the health care sector, and increasing focus of key players on business expansion.
Worldwide increase in the prevalence of gynecological disorders
Gynecologic disorders affect the female reproductive system. The most common symptoms of gynecologic disorders include pelvic pain, vaginal itching, vaginal discharge, abnormal vaginal bleeding, and breast pain and lumps. The significance and severity of these symptoms often depend on age, as these symptoms may be related to hormonal changes that occur with aging.
Among other prominent gynecological diseases, sexually transmitted disease (STD) is the most common and critical – the most common STD among women is pelvic inflammatory disease. In the U.S. alone, more than one million women suffer from this disorder in their lifetime, followed by chlamydia – a sexually transmitted infection of the vagina, which, if left untreated, develops into pelvic inflammatory disease. Gynecological disorders may or may not be related to the menstrual cycle, which prominently include menstrual cramps and endometriosis (abnormally located patches of tissue that is normally located only in the lining of the uterus). Additionally, gynecological cancers are also common among women around the globe. Endometrial cancer and ovarian cancer are highly common among women. Therefore, increase in the prevalence of the conditions mentioned above, are likely to increase the uptake of gynecology drugs.
Rise in number of women facing menopausal conditions
Rise in number of women facing menopausal condition is a major factor that is expected to drive the market during the forecast period. Menopause is defined as permanent cessation of menstruation, resulting from loss of activity of ovarian follicles. In a majority of women, menopause is a natural event occurring at the age of around 51.3 years. The number of women entering menopausal condition is increasing year on year, due to unhealthy lifestyle and different environmental factors. In Canada, presently, over five million women aged between 45 and 65 have either gone through menopause or are expected to soon go through menopause. The average age of menopause in Canada is 51 years. Moreover, according to the Society of Obstetricians & Gynecologists of Canada, around 80% women claim to suffer from at least one menopausal symptom including mood swings, irritability, interrupted sleep, hot flashes, and vaginal dryness. Incidence of menopausal vasomotor symptoms has risen significantly in the last few years, which in turn drives the global gynecology drugs market.
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The global gynecology drugs market has been segmented based on therapeutics, indication, distribution channel, and region. Furthermore, in terms of therapeutics, the market has been divided into hormonal therapy and non-hormonal therapy. The non-hormonal therapy segment is likely to account for a leading share of the global market during the forecast period owing to the effectiveness of the products, rising adoption of these products, and new product development. Decreasing use of hormonal products due to the risk of breast cancer has boosted the demand for non-hormonal pharmaceutical products. In terms of indication, the market has been classified into gynecology cancers, endometriosis, female infertility, menopausal disorder, gynecology infections, polycystic ovary syndrome, contraception (birth control), and others. In terms of distribution channel, the market has been segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is projected to expand at a significant CAGR during the forecast period, owing to the ease of using online pharmacy and rise in the number of internet users.
Huge patient base of gynecology disease in Asia Pacific to create opportunities in market
In terms of region, the global gynecology devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to hold a leading share of the global market during the forecast period, owing to high rate of adoption of technological advanced products, presence of key players, and high health care expenditure. Europe is anticipated to account for a significant share of the global market between 2018 and 2026. Increase in incidence of gynecological diseases is expected to fuel the market in the region during the forecast period. The market in Asia Pacific is likely to witness robust expansion during the forecast period, due to surge in health care expenditure. Moreover, increasing focus of key players on expansion in Asia Pacific, large untapped population in the region, and rising awareness about health care drive the gynecology drugs market in Asia Pacific. The gynecology drugs market in Latin America and Middle East & Africa is anticipated to expand at a steady pace from 2018 to 2026.