Women’s Health Care Market Size, Share & Trends Analysis Report By Product (Hormonal Therapy, Non-Hormonal Therapy), By Application (Hormonal Treatment, Gynecological Disorders, Oncology, Pregnancy Care, Urinary Health, Others), By Drug (Prolia, Premarin, Mirena, Forteo, NuvaRing, Lo Loestrin Fe, Makena, Vagifem, Lupron, Yasmin, Others), By End-User (Hospitals & Clinics, Gynecology Centers, Research Institutes, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Women’s Health Care Market Size & Trends

The global women's health care market size was valued at USD 17.76 billion in 2023 and it is expected to reach USD 36.12 billion by 2032, growing at a CAGR of 14% during the forecast period (2024-2032)

As per the WHO, the number of women age 60 and over will increase from about 336 million in 2000 to over 1 billion in 2050. Many of the biggest healthcare companies in the country, including Centene, Elevance Health, and CVS, are now led by women. Women have 25% of leadership positions in the global healthcare industry, according to the WHO, even though they only make up 10% of C-suite positions at Fortune 500 companies. These figures are hardly shocking, as women make up about 70% of the healthcare workforce. According to the National Osteoporosis Foundation, of the estimated 10 million Americans with osteoporosis, about eight million, or 80%, are women.

Women go through certain unique health care challenges and are more likely to be diagnosed with certain diseases than men. The leading causes of death among women are chronic diseases and conditions such as cardiovascular diseases (CVD), cancer, and diabetes. Therefore, there is a high demand for women’s healthcare. 

Women’s Health Care Market Growth Factors

Growing Number of Aging Women across Globe

Aging women make up a significant proportion of the world's population, with constant growth in number across the globe. Women outnumber men in older age groups, and this imbalance increases with age. There are a variety of “determinants” that surround individuals, families, and nations to determine a person’s active aging. These determinants affect well-being directly or indirectly.

The determinants of active aging are interconnected in many ways, and the relationship between them is important. For example, poor women (economic determinant) are more likely to be exposed to inadequate housing (physical determinant), societal violence (social determinant), and not eat nutritious foods (behavioral determinant). Therefore, increasing the risks for women’s health and, thus, boosting women's health care market growth

Increasing Chronic Illness in Women Impacts market growth positively.

The three leading causes of death in older women are heart disease, cancer, and stroke. Heart disease is the leading cause of death in women over 60. Most women in the age group of 75 through 85 are more prone to osteoporosis. According to the National Osteoporosis Foundation, across the globe, osteoporosis affects more than 8 million women over the age of 50. The risk of osteoporosis increases in women during the post-menopause period and causes 2 million fractures for USD 19 billion annually, and costs will rise as the population ages.

Moreover, about one in five women over the age of 65 is affected by some type of cancer. Cancer is the second-leading cause of death for senior women. Most of the newly diagnosed breast cancer cases are in women over the age of 60, while the incidence of ovarian cancer peaks when women are in their 70s. Furthermore, stroke is the third-leading cause of death for American women. The Centers for Disease Control and Prevention estimate that one in five American women suffers from stroke, and more than half of women who have a stroke die from the event.

Also, diabetes, the seventh leading cause of death in the United States, can lead to serious and costly complications, including heart disease, stroke, amputations, blindness, and kidney disease. Women with diabetes have a higher risk of heart disease, blindness, and depression than men do. Alzheimer's disease in women is twice as likely to occur in men.

Depression affects twice as many senior women as men, most commonly between ages 40 and 59. Arthritis affects more than half of all seniors over the age of 65, and women are more prone to it than men. Obesity is a major concern, affecting nearly 41 percent of women between the ages of 65 and 74, putting them at risk for several diseases. thus contributing to the growth of the women’s healthcare market.

Women’s Health Care Market Opportunities

Growing Demand for Contraceptives to Prevent Unintended Pregnancies Contributing to Market Growth

According to the WHO, in 2016, in developing countries such as Asia, Africa, and South America, there were around 21 million pregnancies among adolescent girls aged 15–19 years. An estimated 23 million adolescent girls have an unmet need for modern contraception and are at risk of unintended pregnancy. Considerable gaps persist in the use of modern methods among couples who want to prevent pregnancy.

In 2015–2017, 64.9% of the 72.2 million women aged 15–49 in the United States were using contraception to avoid unintended pregnancies. Growth in contraceptive demand until 2030 is expected mainly in the regions of sub-Saharan Africa and Oceania. Between 2015 and 2030, contraceptive use is projected to grow, particularly in regions where less than half of married or in-union women of reproductive age currently use contraception. thus boosting market growth.

Regional Analysis

North America to Dominate the Women’s Health Care Market during the Forecast Period

North America dominates the market for women’s health care as the region is supported by the increasing aging women population, the growing prevalence of diseases like postmenopausal osteoporosis, the increasing median age of first-time pregnancies, and increased healthcare spending in the US and Canada. 

Estrogen, a hormone in women that protects bones, decreases sharply when women reach menopause, which can cause bone loss. Therefore, the chance of developing osteoporosis increases as women reach menopause. Also, the high awareness and understanding regarding the use of contraceptives and sex education among women and the easy access to modern contraception as compared to developing countries propel market growth in this region. Besides, the local presence of key players, high disposable income, and lifestyle changes accelerate regional market growth.

Women's Health Care Market Segmental Analysis

By Drug 

The global market is majorly segmented into Prolia, Premarin, Mirena, Forteo, NuvaRing, Lo Loestrin Fe, Makena, Vagifem, Lupron, Yasmin, and others. The Prolia drug segment accounted for the largest women’s health care market share. Prolia is a prescription treatment used for treating postmenopausal osteoporosis in people who are at high risk for fractures or weakness in the bones. This medication works by decelerating bone loss to better maintain strong bones and reduce the risk of broken bones (fractures).

Denosumab belongs to monoclonal antibodies, a class of drugs used to prevent certain cells in the body called osteoclasts from breaking down bones. The large share of this segment can be attributed to the rising aging women population. Thus, the increase in women falling under the risk category of menopause is contributing to the upsurge in demand for Prolia.

By Product

The female healthcare market is dominated by hormonal products over non-hormonal products. High demand for hormonal products can be attributed to huge usage of hormonal therapies in a wide range of areas, from contraception to management of menopausal symptoms and hormonal imbalance leading to diseases such as polycystic ovary syndrome and endometriosis. Hormonal products include oral contraceptives, hormone replacement therapy, and drugs for the regulation of menstrual cycle and fertility. The major domination is attributed to the leadership position that hormonal therapies have in dealing with reproductive health disorders, coupled with a high acceptance rate, being an efficacious therapy option, its regulatory approval, and developed market.

By Application

The biggest share of applications is used by the hormonal treatment segment in the women's healthcare market, considering its wide therapeutic application over a wide range of conditions, from contraception and menopause management to the treatment of hormonal disorders such as PCOS and endometriosis. Extensive prescribing to regulate the balance of hormones and reduce symptoms associated with reproductive health disorders is done for hormonal therapies like oral contraceptives, hormone replacement therapy, and drugs related to menstrual irregularities. High efficacy and very established safety profiles make hormonal therapies the most easily accepted among health professionals and patients alike. Progress in hormonal therapy, in terms of new formulations and forms for different routes of delivery, improves the treatment outcome and patient compliance, hence consolidating hormonal therapies as mainstream for accounting for different health needs among women worldwide.

Impact of covid-19

With the rapid spread of the COVID-19 virus across the globe, the need for essential medical devices/equipment is also increasing. The COVID-19 infection is measured based on oxygen levels in the bloodstream and is characterized as normal to severe and even life-threatening. So, the need for oxygen support devices like ventilators, oxygen concentrators, etc., is rising day by day with the increasing number of cases of COVID-19 patients across the globe. Breathlessness is a major issue with the patients suffering from COVID-19, thus requiring an oxygen concentrator device.

As per the American Journal of Tropical Medicine and Hygiene (ASTMH), the symptoms start arising within 7-10 days of illness. The current treatment for severe COVID-19 depends majorly on providing the best possible oxygen supportive care. Patients infected with the COVID-19 virus may suffer from mild to severe symptoms.

With hospitals being overcrowded and the lack of ventilators' availability in underprivileged settings is a challenge, oxygen concentrators are proving to be helpful in such situations. As most cases are patients with mild symptoms who don't require ventilator support, breathing therapy by oxygen concentrator helps stabilize the health of the patient. Thus, it is contributing to the medical oxygen concentrators market growth.

Recent Developments

Digitalization of women’s health through the platform of Femtech, motivating women to access and use applications for managing health issues Femtech continues to serve the purpose of addressing the health and wellness needs of women through software, diagnostics, products, and tech-enabled health services.