The progesterone market is poised for significant growth over the coming years, driven by various factors including increasing health awareness, rising incidence of hormonal disorders, and advancements in pharmaceutical technologies.
Market Size and Growth Projections
As of 2024, the global progesterone market is estimated to be valued at approximately USD 1.50 billion to USD 1.74 billion, depending on the source[1][2][5].
- By 2029, the market is projected to reach USD 2.67 billion, growing at a Compound Annual Growth Rate (CAGR) of 8.92%[1].
- Looking further ahead, the market is expected to expand to USD 4.80 billion by 2034, with a CAGR of 12.30% from 2024 to 2034[2][5].
Regional Outlook
North America
North America is anticipated to hold the largest share of the progesterone market. This dominance is attributed to the high disease burden, including rising cases of breast and uterine cancers, and a growing population of menopausal women. The region's adaptability to advanced treatments and collaborative efforts among market players to enhance research and development capabilities also contribute to its significant market share[1][2].
Asia Pacific
The Asia Pacific region is expected to be the fastest-growing market for progesterone. Factors such as increasing healthcare awareness, government initiatives to enhance maternal health, and the rising prevalence of hormonal diseases due to lifestyle changes are driving this growth. China, in particular, is set to progress at a CAGR of 13.20% from 2024 to 2034, driven by its massive population and heightened healthcare awareness[2][5].
Product Segments
Natural vs. Synthetic Progesterone
The market is segmented into natural and synthetic progesterone. Natural progesterone, derived from sources such as soybeans or the Mexican yam Dioscorea Villosa, is expected to witness significant growth. Drugs like Crinone and Prometrium are major contributors to the revenue in this segment[1].
- In 2023, the natural segment held over 58.2% of the market share[3].
Route of Administration
The market is also segmented based on the route of administration, including injectable, oral, transdermal, and other routes. The injectable segment dominated with around USD 480 million in revenue in 2023[3].
Applications
Menopause and Other Conditions
Progesterone is used in various applications, including menopause, contraception, dysfunctional uterine bleeding, hyperplastic precursor lesions, and endometrial cancer. The menopause segment is expected to reach USD 1.1 billion by the end of 2032, driven by the rising prevalence of menopausal symptoms and the aging population worldwide[3].
- The increasing incidence of hormonal disorders such as polycystic ovary syndrome (PCOS) and endometriosis also drives the demand for progesterone-based therapies. For instance, endometriosis affects roughly 10% of reproductive-age women globally[3].
Key Drivers
Increasing Incidence of Hormonal Disorders
The rising incidence of hormonal disorders, such as PCOS and endometriosis, is a significant driver of the progesterone market. According to the World Health Organization (WHO), endometriosis affects approximately 10% of reproductive-age women and girls globally[3].
Growing Adoption of Assisted Reproductive Technologies (ART)
The increasing adoption of ART and the rising prevalence of infertility among women also contribute to the market's growth. These factors necessitate the use of hormone replacement therapies, including progesterone[3].
COVID-19 Impact
The COVID-19 pandemic had a notable impact on the progesterone market. Studies, such as the pilot clinical trial at Cedars-Sinai Medical Center, indicated that progesterone treatment could improve clinical outcomes for certain hospitalized male COVID-19 patients, thereby increasing demand for progesterone during the pandemic[1].
Market Players
The progesterone market is characterized by the presence of several key players, including:
- Cadila Pharmaceuticals
- Alkem Labs
- Cipla Limited
- Lupin Limited
- Glenmark Pharmaceuticals
- Merck & Co., Inc.
- Pfizer Inc.
- Bayer AG
- AbbVie Inc.
- Johnson & Johnson
- Teva Pharmaceutical Industries Ltd.
- Novartis AG
- Mylan N.V.
- Allergan plc
- Amgen Inc.
- Sun Pharmaceutical Industries Ltd.[1][4]
Regulatory Environment
The market growth is somewhat hampered by strict regulatory rules, particularly in regions like the United States. However, these regulations also ensure the safety and efficacy of progesterone therapies, which can sustain consumer confidence and support market growth[5].
Consumer Awareness and Healthcare Infrastructure
The growing awareness of women's health and the development of pharmaceuticals are key factors driving the expansion of the progesterone market. Additionally, the continuous expansion of healthcare infrastructure and increased financing initiatives in the healthcare sector further enhance market opportunities[2][5].
"The progesterone demand is slated to witness growth owing to spurring demand from health protection sectors worldwide. Factors like soaring consciousness of women’s health and development in pharmaceuticals strengthen progesterone market expansion." - FMI analyst[2].
Key Takeaways
- The global progesterone market is projected to grow significantly, reaching USD 4.80 billion by 2034.
- North America holds the largest market share, while the Asia Pacific region is expected to be the fastest-growing.
- Natural progesterone is anticipated to witness lucrative growth.
- Increasing incidence of hormonal disorders and the adoption of assisted reproductive technologies are key drivers.
- The COVID-19 pandemic has contributed to the market's growth due to the potential benefits of progesterone in treating certain COVID-19 patients.
FAQs
What is the current size of the progesterone market?
The progesterone market size is estimated at USD 1.50 billion to USD 1.74 billion in 2024[1][2][5].
What is the projected growth rate of the progesterone market?
The market is expected to grow at a CAGR of 8.92% from 2024 to 2029 and at a CAGR of 12.30% from 2024 to 2034[1][2][5].
Which region is expected to dominate the progesterone market?
North America is expected to hold the largest share of the progesterone market due to its high disease burden and advanced treatment adaptability[1][2].
What are the key drivers of the progesterone market?
Key drivers include the increasing incidence of hormonal disorders, growing adoption of assisted reproductive technologies, and rising awareness of women's health[3].
Who are the major players in the progesterone market?
Major players include Cadila Pharmaceuticals, Alkem Labs, Cipla Limited, Lupin Limited, Glenmark Pharmaceuticals, and several other global pharmaceutical companies[1][4].
How has COVID-19 impacted the progesterone market?
COVID-19 has increased the demand for progesterone due to its potential benefits in treating certain hospitalized COVID-19 patients, as indicated by clinical trials[1].
Sources
- Mordor Intelligence: Progesterone Market - Growth, Report, Applications & Manufacturers.
- PharmiWeb: Global Progesterone Market Poised for Significant Growth.
- GMI Insights: Progesterone Market Growth Outlook & Forecasts Report 2032.
- Insights10: US Progesterone Market Report 2022 to 2030.
- Future Market Insights: Progesterone Market Size, Share, Trends & Forecast by 2034.
