The Gynecology Drugs Market Is To Reach $26 Bn As It Recovers From The COVID-19 Impact

TBRC's gynecology drugs market research report shows the growth and forecasts of the industry, and reasons behind it.

LONDON, May 4, 2022 /PRNewswire/ -- COVID–19 dramatically affected the care of patients with gynecological cancer, and thus the gynecology cancer drugs market. During the peak of the pandemic, treatment of many non-emergency benign gynecological conditions was postponed. A study in the Netherlands reported that cancer diagnoses decreased dramatically during the pandemic, suggesting that patients could not reach hospitals and have been diagnosed at advanced stages.

Now as the global effects of COVID are weaning in terms of business, the global gynecology drugs market size is expected to grow from $24.68 billion in 2021 to $26.36 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The growth in the market is mainly due to the increase in gynecological disorders among women and rising cases of gynecological cancer. The gynecology drugs industry size is expected to reach $33.21 billion in 2026 at a CAGR of 5.9%.

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Gynecology Drugs Market Drivers Include…

The rise in number of women suffering from ovarian cancer will drive the growth of the global gynecological drugs market. The risk of developing ovarian cancer gets higher with age. Ovarian cancer is rare in women younger than 40. Most ovarian cancers develop after menopause. Half of all ovarian cancers are found in women 60 years of age or older.  For instance, according to Globocan, it is estimated that the global incidence of ovarian cancer will increase to 434,184 by 2040. The increasing incidence of ovarian cancer will boost the market for gynecological drugs in the forecast period.

Gynecology Drugs Market Insights And Opportunities

The top opportunities in the gynecology drugs market segmented by therapeutics will arise in non-hormonal therapy segment, which will gain $7.08 billion of global annual sales by 2026. The top opportunities in the gynecology drugs market segmented by indication will arise in the other indications segment, segmented by distribution channel will arise in retail pharmacies segment. The gynecology drugs market size will gain the most in the USA at $2.91 billion.

Key Players And Their Strategies In The Gynecology Drugs Industry

The global gynecology drugs market is highly competitive and consists of several major players. The top ten competitors in the market made up to 8.34% of the total market in 2021. Players in the market are implementing various strategies such as launching new products and making acquisitions to consolidate their market positions across the globe. Also, a steep rise in the availability of public fundings for the development of these drugs due to a rise in global burden is also expected to fuel the market.

Major players in the gynecology drugs market are Merck & Co. Inc., AbbVie, Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Pfizer Inc., AstraZeneca plc, Amgen Inc., Lupin Pharmaceuticals Inc., TherapeuticsMD Inc., Ferring Holding SA., and others.

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