Progestin is a synthetic steroid hormone with progesterone-like properties (the body's naturally occurring hormone) but is structurally different. It is designed to interact with progesterone receptors in the body and cause progesterone-like effects. It is used in hormonal birth control and the menstrual cycle. Progestin is used worldwide and is present in all forms of birth control pills either alone in progestin-only methods or with estrogen. They are used to treat menopause symptoms such as hot flashes and vaginal dryness. Progestin is also prescribed for amenorrhea, endometriosis, and irregular periods.
MARKET SCOPE
The "Global Progestin Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the progestin market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading progestin market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global progestin market is segmented into progestin oral, progestin injection, and progestin suspended/gel
- On the basis of application, the market is bifurcated into hospital, clinic, and pharmacies & drug stores.
MARKET DYNAMICS
Drivers:
- Growing incidence of amenorrhea, i.e., absence of menstrual periods, and increase in cases of infertility treatment in women, uterine dying, breast cancer, etc., are driving the worldwide progestin market.
- The technological advancements in the medical industry result in progestin being used as a diagnostic aid to check the effects of estrogen.
- Increasing funding initiatives and infrastructure development in the health care industry globally boost the market growth.
- Increasing cases of obesity, lack of regular exercise, rising levels of stress also fuel the demand for the progestin market.
- Factors such as the increasing number of unintended pregnancies, ease of use, low cost, and rising awareness regarding birth control propel the market growth.
Restraints:
- Side effects of medication such as hypoglycemia, vaginal bleedings, and increased blood pressure.
- Lack of awareness regarding the accessibility of progestin.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The progestin market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the progestin market in these regions.
IMPACT OF COVID-19 ON PROGESTIN MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnership opportunities. The progestin market supplies were experiencing stock?outs due to the shutdown of businesses and increased demand by population. As progestin is utilized in several birth control methods, it was estimated that as there are stock?outs, unavailable providers, or closed clinics, it resulted in unmet demand for contraception globally, leading to unintended pregnancies, women experiencing major obstetric complications without care, and women resorting to unsafe abortions hence , the industry experienced a decline in its sale. However, now it shows growth, mainly because companies are resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which earlier led to restrictive measures such as social distancing, remote working, and the shutdown of commercial activities that resulted in operational challenges.
MARKET PLAYERS
The report covers key developments in the progestin market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from progestin market are anticipated to have lucrative growth opportunities in the future with the rising demand for progestin in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the progestin market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Merck
- Zhejiang Xianju Pharmaceutical
- Besins Healthcare
- Virtus Pharmaceuticals, LLC
- BionPharma
- Allergan
- Pfizer Inc.
- Teva Pharmaceuticals
- Bayer AG
- GlaxoSmithKline