Press release
Menopausal Hot Flashes Market Set to Witness an Uptick during 2015-2023
The global market for menopausal hot flashes is a moderately fragmented market, in which the top eight players collectively held a share of more than 50% in 2014, states a new research study by Transparency Market Research (TMR). Novartis AG and Pfizer Inc., the top two vendors, which accounted for nearly 30% of this market in 2014, are expected to maintain their stronghold over the next few years. Pfizer is expected to gain from its robust presence across North America while Novartis will benefit from its wide-ranging product portfolio for the treatment of menopausal hot flashes in the years to come, notes the study.
According to the report, hormonal products have been witnessing an overwhelming demand across the world, as people prefer hormone replacement therapies for the treatment of menopausal hot flashes. In 2014, the hormonal products segment held a staggering 95% of the overall market and is anticipated to continue on the same track over the next few years. Non-hormonal products, however, are expected to gain momentum in the near future, since the awareness regarding the harmful effects hormonal therapies on women’s health is increasing considerably.
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In terms of the geography, the global market for menopausal hot flashes is led by North America, reports the study. The increasing incidence of menopausal vasomotor symptoms in the female population in this region is the key factor behind the growth of this market in North America. In 2014, the regional market acquired a share of 66% in the overall market and is projected to remain on the top over the period of the forecast.
Amongst others, the menstrual hot flashes market in Asia Pacific is anticipated to outshine in terms of value and volume in the next few years due to the rising awareness pertaining to menopause-related health issues and the increasing disposable income of consumers in this region.
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Swift Approval of New Treatments to Drive Growth
“The global market for menopausal hot flashes is gaining substantial impetus from the rising instances of night sweats caused by menopause and vasomotor symptoms, commonly known as, hot flashes,” says the author of this study. The increasing number of favorable initiatives commenced by several governments and private healthcare institutes to raise the awareness regarding women’s health among people across the world is another important factor that is boosting this market.
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Going forward, the speedy approval of new treatments is expected to create new streams for revenue generation for market players in the near future. However, the increasing availability of alternative therapies at a much cheaper rate may limit the growth of this market over the forecast period, states the resesrch report.
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