DUBLIN–(BUSINESS WIRE)–The “Gynecology Drugs Global Market Opportunities And Strategies To 2031: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the global gynecology drugs market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
The global gynecology drugs market reached a value of nearly $38,109.7 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.1% since 2016. The market is expected to grow from $38,109.7 million in 2021 to $49,481.1 million in 2026 at a rate of 5.4%. The market is then expected to grow at a CAGR of 5.6% from 2026 and reach $64,957.5 million in 2031.
Companies Mentioned
- Merck & Co. Inc.
- AbbVie
- Hoffmann-La Roche Ltd.
- GlaxoSmithKline Plc
- Pfizer Inc.
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Growth in the historic period in the gynecology drugs market resulted from a rise in introduction of drugs with novel mechanisms, a rise in educational tools and awareness on menopause, a rise in long acting reversible contraceptives, a shift in lifestyles, a rise in healthcare awareness and expenditure, government initiatives and an increase in pharmaceutical R&D expenditure.
The market was restrained by lack of scientific knowledge on PCOS, safety concerns with hormonal contraceptives and hormonal replacement therapies (HRT), low healthcare access, high costs of drug approval, patent expiration of drugs, pricing pressures from regulators, and regulatory changes.
Going forward, an increase in awareness and use of contraceptives and hormone replacement therapy (HRT), age-related increase in gynecological cancers, a rise in ovarian cancer, prevalence of gynecological diseases, a rise in healthcare expenditure and rising investment to understand the mechanisms of endometriosis and its treatment will drive the market. Factors that could hinder the growth of the market in the future include high costs of drugs.
The gynecology drugs market is segmented by therapeutics into hormonal therapy and non-hormonal therapy. The non-hormonal therapy segment was the largest segment of the gynecology drugs market segmented by therapeutics, accounting for 66.6% of the total in 2021. Going forward, the hormonal therapy segment is expected to be the fastest growing segment in the gynecology drugs market segmented by therapeutics, at a CAGR of 6.0% during 2021-2026.
The gynecology drugs market is also segmented by indication into gynecological cancers, menopausal disorder, polycystic ovary syndrome, contraception, and others indications. The polycystic ovary syndrome segment was the largest segment of the gynecology drugs market segmented by indication, accounting for 26.1% of the total in 2021. Going forward, others indications segment is expected to be the fastest growing segment in the gynecology drugs market segmented by indication, at a CAGR of 5.7% during 2021-2026.
North America was the largest region in the gynecology drugs market, accounting for 33.3% of the total in 2021. It was followed by the Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the gynecology drugs market will be Asia Pacific and North America where growth will be at CAGRs of 6.1% and 5.2% respectively during 2021-2026. These will be followed by Western Europe and South America, where the markets are expected to register CAGRs of 5.2% and 5.1% respectively during 2021-2026.
The global gynecology drugs market is moderately competitive and consists of several major players. The top ten competitors in the market made up to 8.34% of the total market in 2021. Players in the market are implementing various strategies such as launching new products and making acquisitions to consolidate their market positions across the globe.
To take advantage of the opportunities, the publisher recommends the gynecology drugs companies to focus on development of new drugs, focus on developing antibody-drug conjugates (ADCs) targeted therapy, expand in emerging markets, scale up through merger and acquisition activity, provide competitively priced offerings, focus on securing long-term supply contracts with healthcare institutions, take initiatives to educate consumers, use big data analytics to improve marketing activities, targeting female population to spread awareness and focus on partnerships with key healthcare providers.
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