Global Polycystic Ovary Syndrome (PCOS) Drugs Market to Reach US$ 1,154.8 Mn by 2024; Oral Contraceptives Drug Class to Witness High Adoption
According to the latest market report published by Persistence Market Research titled ‘Polycystic Ovary Syndrome Drugs Market: Global Industry Analysis and Forecast, 2016–2024’, the global polycystic ovary syndrome drugs market is expected to register a CAGR of 4.6% during the forecast period 2016–2024 and is expected to expand 1.5x in terms of revenue by 2024. The report analyzes the global PCOS drugs market performance and provides information on key drivers and trends likely to impact the market during the forecast period.
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Growth of the global polycystic ovary syndrome drugs market is mainly driven by increasing prevalence of the disease and a growing awareness among the patient population. Increasing purchasing power among people and rising awareness of PCOS are factors expected to drive growth of the global PCOS drugs market.
The need for effective management of diseases associated with PCOS such as hirsutism, obesity, and infertility is likely to boost the demand for PCOS drugs. Also, a growing popularity of combination drugs and their rising adoption among the patient population is expected to boost revenue growth of the PCOS drugs market in the coming years.
A rising expenditure on research and development activities and introduction of novel drugs is further expected to boost growth of the global polycystic ovary syndrome drugs market over the forecast period. However, lack of FDA approved drugs, a low level of awareness of PCOS in underdeveloped countries, and increasing side effects associated with generics might hamper market growth during the forecast period.
The global market for PCOS drugs presents several growth opportunities for market players. There is a good growth potential in emerging markets and pharmaceutical drugs manufacturers are focusing on emerging economies in the Asia Pacific and Africa such as Kenya, Nigeria,.
to target a large patient population. Also, effective reimbursement policies and reduction in the costs of drugs used for the treatment of PCOS is likely to increase the adoption of PCOS drugs across the globe.
Leading market players are also investing significantly in developing new branded drugs to treat PCOS, owing to an anticipated high rise in the global patient population. The demand for branded PCOS drugs is likely to increase significantly during the forecast period.
The global PCOS drugs market is segmented based on Drug Class into Oral Contraceptives, Insulin Sensitizing Agents, Anti-Depressants, Ornithine Decarboxylase Inhibitors, Aromatase Inhibitors, and Diuretics. The contraceptive drug class segment is projected to register a CAGR of 5.4% over the forecast period.
Oral contraceptives are generally the preferred first line therapy for the treatment of PCOS as they are easily available as OTC drugs. The insulin sensitizing agent segment is expected to register a CAGR of 4.8% over the forecast period.
About 70% of PCOS patients are overweight and are in the category of possible candidates for type 2 diabetes. As a result, insulin sensitizing agents are the widely prescribed drugs for the treatment of PCOS today.
In terms of value, the oral contraceptives and insulin sensitizing agents drug class segments are collectively expected to remain the dominant and most attractive segments over the forecast period.
The global PCOS drugs market is segmented based on Distribution Channel into Hospital Pharmacies, Drug Stores/OTC, E-Commerce, and Fertility Clinics. The hospital pharmacies segment is likely to lead the global PCOS drugs market in terms of revenue growth and is estimated to be valued at US$ 575.4 Mn by the end of 2024.
In terms of value, the drugs stores/OTC segment is estimated to account for 27.0% share of the overall market by the end of 2016.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and the MEA. The North America market is expected to emerge as the dominant market for polycystic ovary syndrome drugs owing to a high diagnosis rate and increasing adoption of prescription drugs.
North America is estimated to dominate the PCOS drugs market with maximum value share of the overall market by the end of 2016. The presence of well-established pharmaceutical companies in North America as well as a relatively high instance of patients being diagnosed in hospitals for PCOS is a major driver for market growth.
The market in the Asia Pacific region is expected to register the highest CAGR of 5.5% over the forecast period. Significant increase in healthcare services spending along with rapid economic growth and increasing awareness about health issues are some of the key factors likely to push the sales of PCOS drugs in the APAC market.
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The report also includes detailed company profiles with company-specific long-term and short-term strategies, key offerings, and recent developments in the polycystic ovary syndrome therapeutics market. Some of the leading companies profiled in the report are Sanofi, Novartis, Teva Pharmaceutical Industries Limited, Addex Therapeutics Ltd., BIOCAD, Merck KGaA, and AstraZeneca Plc.
These companies are primarily focused on enhancing their product portfolio through research and development activities and the introduction of innovative and cost-effective treatment procedures in order to gain higher market share and to strengthen their respective position in the global market.
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