The menopausal hot flashes market is projected to register a CAGR of 3.4% during the forecast period.
The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. Initially, the outbreak of COVID-19 worldwide and lockdown situation across some countries have shown some challenges on the market studied, due to hold on services by the hospitals and clinics, in order to prevent the spread of COVID-19 virus and in fact, the tremendous pressure on the hospitals in providing services to COVID-19 patients is also one of the factors, which has been inhibiting the hospitals and clinics in providing women health services. According to the article published on the National Institute of Health 2020, United Nations Population Fund estimated that there is a decline in women's health services initially due to lockdown. However, as of now several countries have now eased restrictions which further create growth avenues in forcasted period.
The increasing incidence of menopausal hot flashes, increasing number of new drug approvals for the treatment and rising awareness regarding menopause health are the key driving factors in menopausal hot flashes market. Hot flashes are a sudden feeling of warmth, which is usually most intense over the chest, neck, and face. Hot flashes cause redness of the skin (called as flushing) and excessive sweating. Hot flashes generally occur due to menopause when menstrual periods become irregular and eventually stop. In fact, hot flashes are the most common symptom of the menopausal transition (which includes stages such as pre-menopause, perimenopause, and post-menopause). Hot flashes occurrence varies among women and can range from a few a week to several hours. Some of the symptoms during a hot flash are rapid heartbeat, flushed appearance with red, blotchy skin, perspiration, mostly on your upper body, a sudden feeling of warmth spreading through your upper body and face and so on. Hot flashes can vary in intensity and frequency. On average, symptoms of hot flashes persist for more than seven years or Sometimes in some women, it may be for more than 10 years. Hot flashes cause due to changes in reproductive hormones which becomes more sensitive to slight changes in body temperature. Factors such as smoking, obesity, ethnicity may increase risk in the development of hot flashes.
According to the study published in The Lancet Journal 2018, an estimated 1 billion women globally, will be older than 50 years, within the next 25 years and therefore likely to be reporting menopause or postmenopausal conditions. In addition, approximately 73% of postmenopausal women, experience hot flashes (vasomotor symptoms) and may result in fatigue, decreased cognitive function and sleep disturbances which lead to a reduction in their quality of life and an increased use of medical resources.
In addition, according to a 2019 study published in NCBI, it was stated that hot flashes are among the most common types of menopausal vasomotor symptoms (VMS), affecting up to 74% of perimenopausal women. Around 65% of women complain of hot flashes for more than two years, and 36% for more than five years. Thus, the rising incidences of menopausal vasomotor symptoms act as a major factor in the driving the growth of the menopausal hot flashes market
Other factors limiting the growth of this market are the side effects associated with hormonal products and availability of generic medicines.
Key Market Trends
Estrogen Segment is Expected to Hold a Major Market Share in the Menopausal Hot Flashes Market
The COVID-19 pandemic has affected the supply chain of pharmaceutical products. The restrictions on pharmaceutical manufacturing and export had affected many products sold in some countries, such as the United States, Europe, and other countries. Some of the drugs are manufactured in-house at the pharma companies, while other drugs of the company are manufactured with facilities in other countries, such as contract manufacturing services, which further impacted the supply chain of products.
Estrogen medicines help in boosting women's hormone levels and minimize symptoms of the menopausal transition, including hot flashes. Some of the USFDA-approved estradiol-containing products to treat hot flashes are Alora, Estraderm, Estrogel, Evamist, Vivelle, Climara, Divigel, and Estrace.
As per The International Menopause Society, women aged below 45 years who are postmenopausal have a 30% lower risk of breast cancer when compared to women who become premenopausal between 45-54 years are at greater risk of breast cancer. The estrogen-segment hold a significant market share in the menopausal hot flashes market and is anticipated to show a similar trend over the forecast period.
In additon Some of the benefits associated with estrogen medicines includes it helps in improving vaginal health, can help reduce symptoms of menopause, and may promote bone and heart health.
The Novartis AG company offers "Vivelle-DOT (estradiol transdermal system)" used in the treatment of moderate to severe vasomotor symptoms due to menopause and treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. Furthermore, the Novo Nordisk Corporation company offers "Vagifem" 10 mcg vaginal tablet that treats changes in and around the vagina that occur after menopause and treats a combination of vaginal symptoms.
Hence, increasing incidence of menopausal hot flashes and technological advancements in the development of new drugs by innovative players in the market are the key driving factors in the estrogen segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The United States is the most COVID-19 affected country across the world. The supply chain of products was highly impacted in this country. Initially, there is a decline in demand for hot flashes products which has negatively impacted the overall market growth. However, as of now, the import-export restrictions have been reduced which is creating growth avenues in the forecasted period.
North America expected to hold a major market share in the global menopausal hot flashes market due to the increasing incidence of menopausal hot flashes, rising awareness regarding menopause health, and the presence of a larger percentage of older women in the overall population in this region. According to the North American Menopause Society, about 75% of North American women experience hot flashes during perimenopause, and approximately a quarter of them experience enough discomfort to seek relief from their clinicians. In addition, According to a 2020 study by Kimberly Peacock et al., published in NCBI, stated that in the United States, approximately 1.3 million women become menopausal each year, which begins between the ages of 51 and 52. In addition to the same source, approximately 5% of women experience early menopause between the ages of 40 and 45.
Moreover, favorable policies initiated by the government, such as Healthy People 2020, was established by the Department of Health and Human Services, which has a 10-year agenda to improve the health of all Americans is likely to drive market growth.
In addition the rising geriatric population in Canada and Mexico is also fueling the overall market demand. for instance according to United Nations Department of Economic and Social Affairs in Canada there are around 6,602 thousand people who are aged over 65 years in 2019 and the number is estimated to reach 9,317 thousand by 2030. In addition to the same source mentioned above in Mexico, there are around 9,462 thousand people who are aged over 65 years in 2019 and the number is estimated to reach 14,367 thousand by 2030. The prevalence of menopause is high in women geriatric population and thus boost the overall market growth.
Furthermore, technological advancements in the development of new drugs, increasing healthcare expenditure and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent.
The Menopausal Hot Flashes Market is fragmented competitive and consists of several major players. A large portion of the market share is taken up by small and mid-sized companies that produce generic treatment options. Some of the companies which are currently dominating the market are Abbvie inc (Allergan Plc), Bayer AG, Novartis AG, Pfizer, Inc, Novo Nordisk Corporation, Hisamitsu Pharmaceutical Co., Inc, Merck & Co., Inc, and Teva Pharmaceutical Industries Ltd.
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rising Incidence of Menopausal Vasomotor Symptoms
- 4.2.2 Technological Advancement in the Development of New Drugs for the Treatment
- 4.3 Market Restraints
- 4.3.1 Side Effects Associated with Hormonal Products
- 4.3.2 Availability of Generic Medicines
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Treatment Type
- 5.1.1 Hormonal Treatment
- 184.108.40.206 Estrogen
- 220.127.116.11 Progesterone
- 18.104.22.168 Estrogen-Progesterone Combination
- 5.1.2 Non-hormonal Treatment
- 22.214.171.124 Antidepressant
- 126.96.36.199 Others
- 5.2 Geography
- 5.2.1 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 5.2.2 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Spain
- 220.127.116.11 Rest of Europe
- 5.2.3 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 Japan
- 126.96.36.199 India
- 188.8.131.52 Australia
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 5.2.4 Middle-East and Africa
- 18.104.22.168 GCC
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle-East and Africa
- 5.2.5 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Abbvie inc (Allergan Plc)
- 6.1.2 Bayer AG
- 6.1.3 Novartis AG
- 6.1.4 Pfizer, Inc
- 6.1.5 Novo Nordisk Corporation
- 6.1.6 Hisamitsu Pharmaceutical Co., Inc
- 6.1.7 Merck & Co., Inc
- 6.1.8 Teva Pharmaceutical Industries Ltd
- 6.1.9 Agile Therapeutics
- 6.1.10 Amgen Inc
- 6.1.11 AstraZeneca plc
- 6.1.12 Bristol-Myers Squibb Company
- 6.1.13 Ferring BV
7 MARKET OPPORTUNITIES AND FUTURE TRENDS