LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global menopausal hot flashes market to grow at a CAGR of close to 3% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global menopause hot flash market for 2017-2021. The widely-offered treatments include selective estrogen receptor modulators (SERMs), HRT, selective serotonin reuptake inhibitors (SSRIs), and serotonin-norepinephrine reuptake inhibitors (SNRIs).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global menopausal hot flashes market:
- Change in lifestyle
- Rise in disposable income
- Growing awareness about hygiene
Change in lifestyle
In recent years, there has been a significant change in the lifestyles of people characterized by unhealthy food habits, consumption of alcohol, and smoking. Smoking has antiestrogen effects in women that can contribute to early menopause. Several studies suggest that women who smoke may start menopause a year or two earlier than women who do not smoke. Women who lead a sedentary life seem to suffer more from hot flashes.
“Increasing stress levels may lead to a hormonal imbalance in women. A decline in the hormonal levels can lead to early menopause. Thus, with an increase in the number of menopausal symptoms due to lifestyle changes globally, the demand for menopausal solutions in the market will increase,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Rise in disposable income
The disposable income is increasing globally, especially at a fast rate in some countries on the Pacific Rim, such as Malaysia, Indonesia, and Vietnam. In 2015, more than 57% of the women were working in the US, creating a financial boost in the overall household income. This enables consumers to spend more on women's health solutions. Furthermore, financial opportunities for women in urban areas have resulted in the shift from rural to urban areas. This significantly brings in a change in lifestyle with an increase in spending on menopausal solutions bought through online and retail outlets.
Therefore, an increase in awareness among people about the availability of solutions for vasomotor symptoms in the market along with a rise in disposable income leads to growth in the sales of menopausal products, which can boost the opportunities for manufacturers during the forecast period.
Growing awareness about hygiene
There is a notable rise in awareness about health and hygiene among women compared with the last decade. Due to increasing globalization and awareness of healthy living, the women's health segment has witnessed substantial growth globally. The increase in awareness can be attributed to several factors such as an increase in education among the female population along with a rise in the number of working women that has led to increased awareness of women’s health products and treatments, such as HRT.
In South America, the demand for hot flashes solutions has been observed across Brazil, Argentina, Chile, and Peru. The trend can be attributed to an ever-increasing number of working women population and the growing preference for hygiene and convenience products, which are fueling the demand for menopausal symptoms solutions in South America.
“Factors such as an increase in the educated female population and the increase in the working female population have led to increased awareness of the benefits of menopausal solutions,” says Amber.
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