Gynecology Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Gynecology Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The gynecology drugs market is expected to register a CAGR of 6.2% over the forecast period.

The outbreak of the COVID-19 pandemic has pushed the pharmaceutical industry into action, with a race to develop both therapeutic and preventive drugs. Exponentially increasing cases of the coronavirus worldwide are leading to the need for the development of novel treatments, with several clinical trials underway. The COVID-19 pandemic has considerably impacted the management of patients with gynecologic cancers. Many centers have reduced access to routine visits to avoid crowded waiting areas especially to reduce the infection risk for oncologic patients. Cancer patients were a vulnerable group of patients with a high risk of COVID-19 infection, and infected patients may suffer from more deteriorating conditions and unlikely outcomes. As per the study titled, "Gynecologic cancer surveillance in the era of SARS-CoV-2 (COVID-19)" in 2021, the multidisciplinary gynecologic cancer team at the Hospital del Mar reconsidered patterns of surveillance to propose telemedicine-based follow-up strategies for cervical, endometrial, and ovarian cancer patients. In addition, as per the study titled, "Management of Gynecologic Cancer During COVID-19 Pandemic: South Asian Perspective" published in January 2022, the management of gynecological cancers has suffered during the pandemic, partly due to lockdown and partly due to directing resources to manage COVID-19 patients. It also stated that modification of gynecological cancer management during the pandemic was recommended. Therefore such instances indicate that the market witnessed slow growth during the pandemic. However, with the ease of restrictions and lockdowns and declining cases of COVID-19, the market is expected to witness considerable growth over the forecast period.

The rising incidence of various gynecological cancer is projected to be continued in the future which is likely to fuel the demand for efficient treatment driving the global gynecological drugs market over the forecast period. According to the data published by the National Cancer Institute in January 2022, the estimated number of new cervical cancer cases in 2022 is around 14,100 in the United States which is around 0.7% up from previous years of all new cancer cases. It also reported that around 4,280 women will die from cervical cancer in 2022. Similarly, as per the report published by the American Cancer Society in January 2022, around 19,880 women are expected to receive a new diagnosis of ovarian cancer and around 12,810 women are expected to die from ovarian cancer in the United States in 2022. Therefore, such a high prevalence of gynecology cancers is expected to fuel the demand for gynecology drugs thereby, propelling the market growth.

However, the high cost and stringent regulatory framework that delays the approval of products are likely to impede market growth over the forecast period.

Key Market TrendsNon-hormonal Therapy Segment is Expected to Witness High Growth Over the Forecast Period

The non-hormonal therapy segment is expected to dominate the industry over the forecast period. The lucrative growth of the segment can be attributed to the rise in the adoption of these products due to proven efficiency in the treatment, rapid advancements in new product development with reduced side effects coupled with the availability of a wide range of marketed products. Furthermore, the disadvantages of hormonal therapy such as the risk of breast cancer and other complications associated with these products are expected to foster the demand for non-hormonal products during the forecast period.

Various studies are being conducted to measure the effectiveness and advantages of non-hormonal therapy. For instance, according to the study titled, "Effectiveness of NLRP3 Inhibitor as a Non-Hormonal Treatment for ovarian endometriosis" published in March 2022, NLRP3/IL-1β is involved in the pathogenesis of endometriosis and the NLRP3 inhibitor may be useful for suppressing ovarian endometriosis and improving the function of ovaries with endometriosis. In addition, increasing clinical trials for launching new non-hormonal therapy drugs for various symptoms are also surging the segment growth. For instance, in October 2021, Bayer commenced the Phase III clinical development program OASIS, which aims to evaluate the efficacy and safety of elinzanetant for the treatment of vasomotor symptoms during menopause.

Therefore, increasing studies on non-hormonal therapy and clinical trials are expected to increase awareness of the application of non-hormonal therapy in treating gynecological cancers. Hence, significant segment growth is anticipated over the forecast period.

North America is Expected to Dominate the Gynecology Drugs Market

North America is expected to dominate the global gynecology drugs market over the forecast period. This dominance is mainly owing to rising incidences of breast cancer, menopausal disorders, polycystic ovary syndrome, and others due to busy lifestyles and the rise in stress among the women in the region. For instance, as per the report published by the Canadian Cancer Society in May 2022, it is estimated that around 1,450 Canadian women will be diagnosed with cervical cancer in 2022 and around 380 will die from cervical cancer. Moreover, the availability of advanced healthcare infrastructure, an increase in government expenditure for women's healthcare awareness, the geriatric women population along with early product launches with enhanced quality in the region are expected to contribute to the market growth over the forecast period.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and the high prevalence of gynecological cancers in the United States are some of the factors driving the growth of the gynecology drugs market in the region. For instance, as per the report published by the American Cancer Society in January 2022, breast cancer is the most common cancer in women in the United States, which is about 30.0% or 1 out of 3 of all new female cancers each year. Such high prevalence is anticipated to surge the demand for gynecology drugs, thereby propelling the market growth in the United States over the forecast period.

Competitive Landscape

The gynecology drugs market is moderately competitive and consists of several major players. Some prominent players in the market are implementing various strategies such as launching new products and making acquisitions to consolidate their market positions across the globe. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including Allergan Plc, Pfizer Inc, AbbVie Inc, TherapeuticsMD Inc, and Ferring Holding SA among others.

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