Women’s Health Market Set to Reach USD 66 Billion by 2033

Introduction

The global Women’s Health Market is poised for substantial growth, projected to escalate from USD 41.3 billion in 2023 to around USD 66 billion by 2033, with a compound annual growth rate (CAGR) of 4.8%. This expansion is driven by advancements in medical technologies, including telehealth and personalized medicine, which enhance accessibility and offer tailored treatments, particularly in mental health and preventive care.

The Women’s Health Market is navigating a complex landscape marked by regulatory challenges and the burden of high treatment costs. Regulatory hurdles, particularly stringent abortion laws in various regions, significantly shape the market dynamics, influencing both product availability and service delivery. These issues are compounded by the high cost of healthcare, which continues to restrict access to necessary treatments for many women worldwide, particularly in underdeveloped regions. According to the World Bank, these financial barriers push over 100 million people into poverty each year, disproportionately affecting women​.

Despite these challenges, the market continues to grow, driven by an increasing awareness of women’s health needs and advancements in healthcare technologies. Efforts to address these challenges include innovations in treatment and diagnostic tools and enhanced government initiatives aimed at improving women’s healthcare access and quality. For instance, significant investments in health tech specifically targeting women’s health issues have marked a shift towards more tailored healthcare solutions​.

The women’s health market is experiencing a period of vibrant growth and transformation, driven by increased investment and innovation. Significant investments are enhancing the sector’s dynamism, notably in fertility treatments and telemedicine, highlighting the industry’s potential and attractiveness. For example, in May 2023, MegaFood introduced a new line of supplements specifically designed for women, emphasizing mood and hormonal balance, which underlines the market’s responsiveness to women’s specific health needs.

Furthermore, funding for women’s health is on the rise, which reflects a broader acknowledgment of its critical impact on society and the economy. In 2023, investments in health tech for women increased, indicating a shift towards a more inclusive approach to healthcare innovation​​. The U.S. government is also playing a significant role, with a recent investment of $100 million announced for women’s health research, aiming to address the historical underfunding in this area​.

Overall, the women’s health market is poised for continued growth, driven by a combination of advanced medical treatments, increasing awareness, and robust investment, which together foster a promising outlook for future developments in this critical sector.

Key Takeaways

• The Women’s Health Market is estimated to increase from USD 41.3 billion in 2023 to USD 66 billion by 2033, achieving a 4.8% CAGR.
• Dominating the market segments, gynecological conditions account for over 37% due to increased disease prevalence and diagnostic and treatment improvements.
• Adult women are the predominant age group in the market, representing more than 46%, which underscores the varied healthcare requirements from reproduction to chronic disease management.
• North America holds a leading position in the global market with a 38.7% share, amounting to USD 15.9 billion in 2023, propelled by robust healthcare infrastructure and heightened awareness.

Women’s Health Statistics

• High Blood Pressure Testing (2022): 36% of women reported being tested, up from 33% in 2020.
• Unscreened for High Blood Pressure: Nearly 2 billion women weren’t tested, including over 500 million women above age 40.
• Cancer Testing (2022): Only 11% of women were tested for any type of cancer, unchanged from 11% in previous years.
• Cancer Testing among Ages 40-49: Testing rate is 11%, down from 17% in 2020.
• Diabetes Testing (2022): 19% of women were tested, consistent with previous years.
• Unscreened for Diabetes: 81% of women weren’t tested over the last three years.
• STD/STI Testing (2022): Only 10% of women reported being tested, unchanged from previous years.
• Unscreened for STD/STIs: Nearly 2 billion women of reproductive age weren’t tested.
• Emotional Well-being:
  • Four in 10 women experienced worry and stress during a lot of the previous day.
  • Three in 10 women experienced sadness.
  • One in four women experienced anger.
  • Women are 20% more likely than men to experience sadness daily.
• Feeling Unsafe:
  • More than one in three women worldwide (34%) do not feel safe walking alone at night in their own community.
  • Over 40% of young women aged 15-24 do not feel safe walking alone at night where they live.
• Satisfaction with Healthcare:
  • Nearly seven in 10 women are satisfied with the availability of quality healthcare where they live.
  • More women feel this way in Year 3 compared to Year 2.
• Affordability of Basic Needs:
  • Nearly 1 billion women worldwide struggle to afford food or shelter.
  • Three in 10 women cannot afford the food or shelter they need.
• Physical Health:
  • Nearly a billion women (one in three surveyed in 2022) experienced physical pain during a lot of the previous day.
  • One in four women have health problems that prevent them from doing normal activities.
• Physical Activity:
  • In 2020, only 20.4% of women met both aerobic and muscle-strengthening activity guidelines.
  • Physical activity among women decreases with age, with 28.7% of those aged 18–34 meeting guidelines, dropping to 10.8% for those aged 65 and over.
  • Non-Hispanic White women (24.3%) are more likely to meet physical activity guidelines than Hispanic (18.0%) and non-Hispanic Black women (16.5%).
  • Women with family income at 200% or more of the federal poverty level are more likely to meet activity guidelines (25.9%) compared to those below the poverty level (9.9%).
• Women live longer but spend 25% more years in poor health.
• Closing the women’s health gap could add 7 high-quality life days annually for 3.9 billion women globally.
• Addressing the health gap can increase global GDP by $1 trillion by 2040, equivalent to 137 million full-time jobs.
• 64 conditions account for 86% of the female global disease burden, excluding injuries.
• Only 5% of the women’s health burden comes from sexual and reproductive health.
• Nearly 50% of the women’s health burden is from conditions like headache disorders and autoimmune diseases.
• Globally, women experience 15-40% more years in poor health than men.
• In the US, women spend 18% more years in poor health compared to men.
• In low- and medium-income countries, poor maternal health and high childbirth death rates drive the health gap.
• Differences in care delivery account for a third of the women’s health gap.
• Fewer than half of US women with endometriosis have a documented diagnosis.
• Women are often diagnosed later than men for certain cancers and diabetes.
• Only half of 650 research papers offered sex-disaggregated data.
• Two-thirds of papers with sex-disaggregated data showed a disadvantage for women.
• UNICEF’s low-cost uterine balloon tamponade device treats postpartum hemorrhage with a 95% success rate.
• Postpartum hemorrhage kills 130,000 women globally each year.
• Only 1% of healthcare research is invested in female-specific conditions beyond oncology.
• Women with heart attacks are 50% more likely to be misdiagnosed compared to men.
• Endometriosis affects 10% of women of reproductive age globally.
• Only 20% of endometriosis cases are diagnosed in the US.
• Girls are three times less likely to be diagnosed with autism compared to boys.

Emerging Trends

• Increased Focus on Personalized Health Solutions: There is a significant shift towards personalized healthcare for women, driven by advancements in technology. Health products and services now leverage biometric data to customize health recommendations. The incorporation of generative AI into health apps and wearables enables the creation of individualized wellness plans, based on unique fitness data.
• Rise of Female-centric Health Brands: A trend is emerging with brands that specifically address women’s health issues, including menopause, fertility, and overall wellness. These brands cater to areas often overlooked by traditional healthcare providers, offering specialized care tailored to women’s unique health needs.
• Natural Remedies and Supplements: An increasing number of women are opting for vitamins, natural remedies, and supplements to boost their well-being. Since late 2020, there has been an 18% rise in the use of herbal and natural medicines among American women. This trend reflects a growing preference for natural treatments over conventional pharmaceuticals.
• Emphasis on Gut Health: The connection between gut health and specific women’s health issues, such as PCOS, is gaining more focus. Many women are now incorporating probiotics and other digestive health supplements into their routines. Improving gut health is seen as a key step in enhancing overall health.
• Digital Health Innovations for Pregnancy: Innovative digital tools are being developed to support women during pregnancy. New applications not only monitor vital signs but also sync with wearable devices to provide real-time data to healthcare professionals. This technology offers women enhanced monitoring and greater autonomy throughout their pregnancy.
• Investment in Women’s Health Innovations: Despite a general downturn in venture capital funding, investment in women’s health technologies continues to grow, with a 5% increase noted. This growth underscores the recognized importance and potential within the sector focused on women’s health innovations.

Key Players Analysis

• AbbVie Inc., primarily recognized for its blockbuster drug Humira, has been actively managing its portfolio in the women’s health sector. After acquiring Allergan, AbbVie inherited a significant lineup of women’s health drugs. Despite their strategic review and initial steps towards divestment started by Allergan before its acquisition, AbbVie has recently revitalized efforts to offload this portfolio, valued around $5 billion. This decision aligns with their need to mitigate substantial debts incurred from the Allergan purchase and to refocus on core areas like immunology and oncology, suggesting a strategic pivot away from women’s health drugs​.
• Bayer AG is significantly advancing women’s health through the development of elinzanetant, a non-hormonal treatment for menopausal symptoms such as vasomotor symptoms (VMS) and sleep disturbances. In their extensive OASIS clinical program, Bayer has achieved promising results in Phase III studies, showing significant improvements in the frequency and severity of VMS and enhancing sleep quality and menopausal life quality. This development underscores Bayer’s commitment to addressing critical, unmet needs in women’s health through innovative, research-driven solutions.
• Merck & Co., Inc. has recently intensified its focus on women’s health by spinning off its related products and businesses into a new independent company, Organon. This strategic move, finalized in June 2021, allows Organon to specialize in enhancing women’s health, leveraging a portfolio that includes around 60 treatments. With its global operations, Organon is poised to innovate and expand in women’s health, aiming to meet the unique healthcare needs of women across various regions. This shift not only concentrates Merck’s efforts on its core growth areas but also projects increased revenue growth and operational efficiencies in the coming years​.
• Pfizer Inc. continues to significantly impact the women’s health sector, exemplified by their collaborative development with Myovant Sciences of MYFEMBREE. This drug is notably approved for treating moderate to severe pain associated with endometriosis and heavy menstrual bleeding due to uterine fibroids, marking a crucial advancement in therapeutic options for these prevalent conditions among premenopausal women. These efforts highlight Pfizer’s commitment to addressing significant unmet needs within women’s health, reinforcing its role as a leader in the development of impactful healthcare solutions.
• Teva Pharmaceutical Industries Ltd. strategically divested its global women’s health portfolio to CVC Capital Partners for $703 million, completing a significant transition in 2018. This sale included a range of specialty products across contraception, fertility, menopause, and osteoporosis, aimed at streamlining Teva’s operations and enhancing financial flexibility. The transaction was part of a broader strategy to focus Teva’s resources more intently on its core areas, thereby improving its capacity to manage and reduce substantial debts.
• Agile Therapeutics, a women’s healthcare company, has made significant strides in 2023 by enhancing the availability of its contraceptive patch, Twirla, through FPA Women’s Health, which is expected to positively impact its growth in the non-retail channel and contribute to projected net revenues of $25-$30 million. This expansion capitalizes on FPA’s extensive network across California, enhancing access to Twirla for a wider demographic. Furthermore, Agile’s financial results from 2022 showed a substantial reduction in net loss, highlighting an improvement in financial health and operational efficiency
• Amgen Inc. is actively engaged in enhancing women’s health through multiple initiatives. They’ve launched the “Her Health First” campaign, addressing key women’s health issues like osteoporosis, heart disease, and cancer, particularly highlighted during events such as World Osteoporosis Day. Additionally, Amgen supports bone health improvement through global partnerships aimed at reducing osteoporosis-related fractures. Their programs not only focus on immediate fracture care but also on long-term osteoporosis management to prevent future fractures​.
• Apothecus Pharmaceutical Corp is making significant strides in the women’s health sector by focusing on non-hormonal contraceptive solutions. Their products, VCF Vaginal Contraceptive Film and Contraceptive Gel, are distinguished by their comfort, safety, and effectiveness, offering a hormone-free alternative for birth control that is highly recommended by healthcare professionals. These products are notable for their ease of use and are available extensively across various retail locations in the U.S. Apothecus’s commitment to quality and innovative delivery systems underpins their market position, addressing crucial needs in women’s reproductive health​​.
• Blairex Laboratories Inc., based in Columbus, Indiana, has significantly expanded its product offerings within the women’s health sector. This expansion was marked by the acquisition of multiple over-the-counter brands in 1999, which broadened their range to include various women’s health care products. Blairex has been a key player in the market, contributing to the development of women’s healthcare solutions. The global women’s health market is experiencing growth due to increased awareness and advancements in healthcare solutions, offering substantial opportunities for companies like Blairex to innovate and cater to this segment.
• Ferring B.V. is prominently engaged in the Women’s Health sector, particularly emphasizing reproductive medicine and maternal health. As a global leader, Ferring actively participates in significant forums like the Women’s Health Innovation Summit, where they explore partnerships to propel innovations addressing critical needs in women’s healthcare. Their commitment is further highlighted by their leadership role at these summits, demonstrating their dedication to enhancing women’s health outcomes globally.

Conclusion

In conclusion, the global Women’s Health Market is undergoing a transformative period, characterized by significant advancements and a growing awareness of women’s specific health needs. The shift towards personalized medicine and the integration of innovative technologies, such as telehealth, are pivotal factors propelling this market forward. Despite facing challenges like regulatory hurdles and high healthcare costs, strategic investments in health tech and initiatives aimed at improving access are fostering substantial development within this sector. As companies continue to prioritize and innovate in women’s health, the market is expected to maintain its upward trajectory, emphasizing a future where women’s health needs are met with more effective and tailored solutions.

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