Gynecology Drugs Market Size

Gynecology Drugs Market Analysis

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

• The COVID-19 pandemic considerably impacted the management of patients with gynecologic diseases during the initial pandemic. For instance, according to a study published by SAGE Journals in August 2022, the management of gynecological cancers suffered during the pandemic, partly due to lockdowns and partly due to directing resources to manage COVID-19 patients. It was also stated that modification of gynecological cancer management during the pandemic was recommended. Therefore, such instances indicated that the market witnessed slow growth during the pandemic. However, with the easing of restrictions and lockdowns and declining cases of COVID-19, the market was expected to witness considerable growth over the forecast period.
• The major factors driving the growth of the studied market include the increasing burden of gynecological diseases and the rise in healthcare awareness along with the increasing aging female population.
• The rising incidence of various gynecological diseases is projected to continue 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 an article published by Cureus in August 2022, a study was conducted in India, which showed that the prevalence of polycystic ovary syndrome (PCOS) was 6.8% among the study participants. The source also stated that polycystic ovary syndrome is a very common health problem among adolescents and young girls. Thus, the high burden of such diseases is expected to boost the market growth.
• Moreover, according to the data published by the National Cancer Institute in January 2022, the estimated number of new cervical cancer cases in 2022 was around 14,100 in the United States, which is around 0.7% up from previous years of all new cancer cases. Similarly, as per the report published by the American Cancer Society in January 2022, around 19,880 women were expected to receive a new diagnosis of ovarian cancer in 2022. Therefore, such a high prevalence of gynecology cancers is expected to fuel the demand for gynecology drugs, thereby propelling the market growth.
• Moreover, the rising developments by key market players are also enhancing the market growth. For instance, in May 2021, Myovant Sciences and Pfizer Inc. received approval from the United States Food and Drug Administration (USFDA) for MYFEMBREE, the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women, with a treatment duration of up to 24 months.
• However, the high cost and stringent regulatory framework that delays the approval of products are likely to impede market growth over the forecast period.