Growth Drivers
Increasing Female Geriatric Population - According to the United Nations Department of Economic and Social Affairs, World Population Ageing 2020 Highlights report, there is a rapid growth of the aging population. An estimated 727 million people are aged 65 or more in 2020. The number is forecasted to reach over 1.5 billion people, almost more than double from 9.3% in 2020 to 16% in 2050. According to the data, on average, women live longer than men. The total aging population comprises 55% of the female population aged 65 years and above.
Increasing Incidences of Breast Cancer and Uterine Cancer in Women - Breast cancer has been found to affect the body’s hormones. In women, about 67%-80% of breast cancer cases are estrogen receptor (ER) positive, while in men, around 90% and 80% are estrogen receptor (ER) and progesterone receptor (PR) positive, respectively. According to the World Health Organization (WHO), in 2020, 2.3 million women were diagnosed with breast cancer worldwide. On the other hand, according to the National Cancer Institute, as of 2022, uterine cancer represents 3.4% of all new cancer cases in the United States.
Growing Healthcare Expenditure - According to the Centers for Medicare & Medicaid Services, national health spending in the United States is expected to grow at a 5.5 percent annual rate, reaching approximately USD 6.0 trillion by the end of 2027.
Increasing Lifestyle-Related Diseases in Women- Lifestyle diseases, associated with physical inactivity and poor diet quality, pose a significant health burden. Gestational diabetes mellitus (GDM), type 2 diabetes (DM2), and polycystic ovary syndrome (PCOS) are a few of the lifestyle-related diseases that affect women. According to the Centers for Disease Control and Prevention, PCOS is one of the most common causes of female infertility, affecting 6% to 12% (up to 5 million) of US women of reproductive age as of 2020. Certain lifestyle disorders, such as depression, insomnia, and weight gain, are also common among women.
Growing Prevalence of UTI – The prevalence of UTI is very higher and a considerable number of women across the globe aren’t aware of it. It is estimated that, in every 25 women, 10 of them suffer from urinary tract infections.
Challenges
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~11% |
Base Year Market Size (2022) |
~ USD 2 Billion |
Forecast Year Market Size (2035) |
~ USD 5 Billion |
Regional Scope |
|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
10.7% |
Base Year Market Size (2024) |
USD 2.46 billion |
Forecast Year Market Size (2037) |
USD 9.22 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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