The latest market report published by Credence Research, Inc. is “Global Menopause Wellness Market: Growth, Future Prospects, and Competitive Analysis, 2018 – 2030”. The Global Menopause Wellness Market generated revenue of around USD 15.9 billion in 2022 and is projected to grow a CAGR of over 5.9% during the forecast period from 2023 to 2030 to reach around USD 23.75 billion in 2030.
The menopause wellness market encompasses products and services to enhance menopausal women’s physical and emotional well-being. Menopause is a natural process that affects women as they age, resulting in decreased estrogen production and various physical and mental symptoms. The growing awareness of the importance of menopause wellness, as well as the increasing number of women going through menopause, are key drivers of market growth. The North American Menopause Society estimates that over 6,000 women in the United States approach menopause every day, with approximately 2 million women attaining menopause each year. The growing prevalence of vasomotor and menopausal symptoms among women during menopause, such as night sweats and hot flashes, is predicted to fuel market expansion. Menopause is also related to mood swings, difficulty concentrating, and melancholy. Factors such as increased female spending power, healthcare infrastructure development, and consumer awareness drive market share. Market opportunities include the development of unique and effective products and services that address the special needs of menopausal women, as well as the market’s expansion into developing regions. However, the global market is hampered by various challenges, including the high cost of some menopause health products and the absence of insurance coverage for many of these products and services.
The global menopause wellness market is bifurcated into Product, Primary Function, Form, Sales Channel, and Geography. The market is categorized into black cohosh root extract, calcium supplements, DHEA supplements, Dong Quai extract, flaxseed/oil, ginseng, phytoestrogen supplements, multivitamin, St. John’s Wort supplements, vitamin D, and wild yam root extract based on product. Based on a primary function, the global market is segmented into mood swing control/hormonal balance, hot flash night sweat relieving, bone health, and libido support. The market is divided into caplets, capsules, liquids, and tablets based on form. Based on sales channel, the market is classified into direct sales, supermarkets & hypermarkets, pharmacies & drugstores, wellness specialists, online company channels, third-party online channels, and practitioner channels. The market is segmented based on geography: Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa.
North America dominated the global menopause wellness market in 2022, owing to a high prevalence of PMS, increased knowledge about women’s health, and high healthcare expenditure. Additionally, the strategic presence of regional global leaders and robust healthcare infrastructure are projected to drive market expansion.
Menopause Wellness Market Top Report Findings reveal that the menopause wellness industry is a rapidly growing market, with an estimated value of over $30 billion by 2025. The report highlights that women are increasingly seeking natural and holistic solutions to manage their menopausal symptoms such as hot flashes, night sweats, mood swings, and fatigue. Herbal supplements like black cohosh and red clover are gaining popularity as they offer a safer alternative to hormone replacement therapy (HRT). Additionally, wearable technology devices like smartwatches and fitness trackers are being used to monitor sleep patterns and physical activity levels during menopause. The report also emphasizes the importance of mental health support for women going through menopause.
The growth factors influencing the menopause wellness market worldwide include:
- Aging population: The global aging population contributes to the growth of the menopause wellness market. As women reach menopausal age, there is an increasing demand for products and services that help manage menopausal symptoms and support overall well-being during this life stage.
- Increasing awareness and understanding of menopause: Growing awareness about menopause and its impact on women’s health has led to a greater demand for menopause wellness products and services. Women are seeking information and solutions to manage symptoms such as hot flashes, mood swings, and sleep disturbances.
- Lifestyle and self-care trends: The focus on self-care and holistic wellness has gained prominence in recent years. Menopause wellness aligns with these trends, as women seek natural and alternative approaches to manage menopausal symptoms, such as through diet, exercise, stress reduction, and supplementation.
- Technological advancements and digital platforms: Technological advancements, including mobile apps, wearable devices, and online platforms, have made menopause-related information and resources more accessible. These digital tools provide women with personalized guidance, support, and educational materials, driving market growth.
- Increasing demand for natural and alternative remedies: Many women prefer natural and alternative remedies for managing menopausal symptoms, as they seek to minimize reliance on hormonal treatments or pharmaceutical interventions. The market for natural supplements, herbal remedies, and lifestyle interventions catering to menopause wellness is expanding.
- Empowerment and self-management: Women are increasingly taking control of their health and seeking ways to actively manage their menopausal transition. Menopause wellness products and services that empower women to understand their bodies, make informed choices, and navigate the menopausal journey are in high demand.
- Women’s empowerment movements: Societal movements promoting women’s health, well-being, and empowerment have shed light on menopause as an important phase of a woman’s life. These movements have increased the visibility and recognition of menopause-related challenges and created a supportive environment for menopause wellness initiatives.
Why to Buy This Report-
- The study provides a quantitative and qualitative analysis of the global menopause wellness market by segments, drivers, present trends, restraints, challenges, opportunities, and market dynamics from 2018 to 2021, with the base year of 2022 and a projected period of 2023 to 2030.
- The report gives insights into the competitive landscape, including how key players in the market are operating globally, regionally, and at the country levels.
- The report contains an extensive analysis of the global menopause wellness market segmentation by product, primary function, form, and sales channel, which can assist stakeholders in better understanding market dynamics and identifying potential growth opportunities.
- The report offers business insights into technological advancements, R&D activities, and product innovations in the global menopause wellness market.
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