Market Size of Progesterone Industry
|2021 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Progesterone Market Analysis
The progesterone market is expected to record a CAGR of 13.1% over the forecast period.
COVID-19 had a considerable impact on the growth of the market. This is due to the effectiveness of progesterone treatment in reducing the severity of COVID-19-infected patients. In March 2021, the pilot clinical trial conducted at Cedars-Sinai Medical Center, which included 40 men, published that the use of progesterone to treat male COVID-19 patients may improve clinical outcomes for certain hospitalized men. Such studies increased the demand for progesterone treatment, thereby contributing to the market's growth during the pandemic. However, the demand for progesterone is expected to grow in the current market scenario due to the rising focus on target disorders, thereby contributing to the market's growth over the forecast period.
Rising disorders, such as abnormal uterine bleeding, menopause, endometrial cancer, hyperplastic precursor lesions, amenorrhea, and the female population suffering from these diseases, are also expected to promote growth. For instance, according to an NCBI article published in June 2021, secondary amenorrhea, occurs in approximately 3-5% of adult women globally. The report also mentioned that functional hypothalamic amenorrhea accounted for 20-30% of secondary amenorrhea cases and 3% of primary amenorrhea. Also, the NCBI article published in September 2022 mentioned that up to one-third of women will experience abnormal bleeding in their life with irregularities most commonly at menarche and menopause.
In addition, an upsurge in the incidence of breast cancer in women is anticipated to be a key growth factor, as the patient pool of breast cancer may suffer from breast tenderness, where the progesterone hormone is considered one of the treatment options. According to IARC data published in 2020, about 2.2 million new cases of breast cancer were reported across the world and were estimated to reach 3 million by 2040. Such an increase in breast cancer across the world is expected to contribute to the growth of the market over the forecast period.
The growing demand for progesterone is driven by the presence of routinely monitored formulations, technological advancements in the field of drug delivery systems, and increasing awareness among patients. Additionally, increasing product developments to meet the growing demand for progesterone are also expected to fuel the market growth. For instance, in February 2020, Besins Healthcare launched the production of Utrozhestan (progesterone) drug in Russia at the facilities of its local plant in the Yaroslavl region.
While there is an expectation for the market to experience strong growth, the lack of awareness regarding the availability of progesterone therapy in developing regions and the side effects of the therapy may restrict the market.