- Increase in prevalence of PMS, rise in awareness for PMS therapeutics, and surge in healthcare expenditure propel the growth of the global premenstrual syndrome treatment market
PORTLAND, Oregon, Feb. 13, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Premenstrual Syndrome Treatment Market by Drug Type (Analgesics, Antidepressants, Oral Contraceptives & Ovarian Suppression Agents, and Others), Type (Prescription and OTC), and Distribution Channel (Hospital Pharmacy, Drug Store & Retail Pharmacy, Online Providers): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global premenstrual syndrome treatment industry accounted for $1.12 billion in 2018, and is anticipated to reach $1.51 billion by 2026, registering a CAGR of 3.7% from 2019 to 2026.
Chief reasons for market fluctuations
Rise in prevalence of PMS, increase in awareness for PMS therapeutics, and growth in healthcare expenditure worldwide drive the growth of the global premenstrual syndrome treatment market. However, poor demand in underdeveloped countries hampers the market growth. On the contrary, growth opportunities in emerging markets and higher number of unmet needs for the treatment of PMS are expected to create lucrative opportunities in the industry.
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The analgesics segment dominated the market
Based on drugs, the analgesics segment held the largest share in 2018, contributing to nearly half of the global premenstrual syndrome treatment market. This is attributed to the easy accessibility of the drugs, increase in prevalence of PMS, growing awareness related to PMS, and preferable usage of NSAIDs in management of PMS. On the other hand, the oral contraceptives & ovarian suppression agent segment is expected to register the fastest CAGR of 4.9% during the forecast period, owing to regulation of female hormone, ease of access, and cost-effectivity.
Prescription segment to portray fastest growth by 2026
Based on type, the prescription segment is expected to register the fastest CAGR of 4.2% during the forecast period. Prescription medicines offer perfect dosage and have no side effects which drive the growth of the segment. However, the OTC segment dominated the global premenstrual syndrome treatment market in 2018, accounting for more than half of the market. Rise in demand for OTC products, increase in awareness toward OTC medicines, and surge in number of hospital pharmacies are the major factors driving the growth of the segment. In addition, drug stores & retail pharmacies, and online pharmacies across the globe fuels the growth of the segment.
North America to lead throughout the forecast period
The global premenstrual syndrome treatment market across the North America region held the largest share in 2018, accounting for more than two-fifths of the market. The region is expected to maintain its dominance throughout the forecast period. Presence of advanced healthcare facilities, higher healthcare awareness among the general population, wide availability of PMS treatment therapeutics, rise in demand for advanced healthcare services with higher healthcare expenditure, and presence of large number of hospitals & diagnostic centers equipped with advanced healthcare systems are the major factors propelling the growth of the segment. On the other hand, the market across the Asia-Pacific region is anticipated to register the fastest CAGR of 5.1% during the forecast period owing to the rise in awareness regarding PMS, growth in prevalence of premenstrual syndrome treatment systems, and increase in demand for PMS therapeutics.
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Major market players
- BASF Corporation
- ABBVIE INC.
- Dr. Reddy's Laboratories Ltd
- GlaxoSmithKline Plc
- Bayer AG
- AstraZeneca plc
- Eli Lilly And Company
- Shionogi Inc
- H. Lundbeck A/S
- Pfizer Inc
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SOURCE Allied Market Research