GVR Report cover Menopause Market Size, Share & Trends Report

Menopause Market Size, Share & Trends Analysis Report By Treatment (Dietary Supplements, OTC Pharma Products), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-434-2
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Report Overview

The global menopause market size was valued at USD 16.9 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.33% from 2023 to 2030. The increasing prevalence of post-menopausal symptoms owing to the shift towards a sedentary lifestyle is expected to drive the market. According to the North American Menopause Society, approximately 6,000 women in the U.S. reach menopause every day, and around 2 million women per year. As per the UN data, an estimated 985 million women aged 50 years and above in 2020. This number is expected to reach 1.65 billion by 2050.

U.S. menopause market size, by treatment, 2020 - 2030 (USD Billion)

The rising prevalence of vasomotor and menopausal symptoms such as night sweats and hot flashes among women during menopausal transition is projected to propel the market growth. In addition, issues such as mood swings, difficulty in concentrating, and depression are linked to menopause. As per a study published in the International Journal of Applied & Basic Medical Research, around 36.7% of women reported hot flashes among 87.7% of women reporting menopausal symptoms. The major symptom reported was anxiety, which accounted for 80%, and sleep issues accounted for 61.2%.

Hormone replacement therapy is the first line of treatment for menopausal symptoms, especially vasomotor symptoms. However, there may be adverse effects, such as vaginal bleeding, hip, and vertebral fractures, dementia, urinary incontinence, breast cancer, heart attack, blood clots, stroke, and colorectal cancer. Owing to these side effects, patients are seeking safer treatments such as plant-based products and dietary supplements.

Additionally, rising investment in the treatment of menopausal manifestation is expected to drive the market. For instance, in October 2021, Bayer AG initiated the phase III clinical program OASIS. Under the program, elinzanetant, a dual neurokinin-1,3 receptor antagonist, will be evaluated on the standards of efficacy and safety for the treatment of menopausal symptoms such as vasomotor symptoms.

COVID-19 menopause market impact: 4.9% growth from 2020 to 2021

Pandemic Impact

Post COVID Outlook

The COVID-19 pandemic negatively impacted the market in the first quarter of 2020 owing to the supply chain disruptions and a temporary shutdown of manufacturing facilities. It had adversely impacted the mental health of the women leading to the hormonal imbalance and subsequent exaggeration of the vasomotor symptoms.

The market is growing rapidly due to the ongoing demand for products for the treatment of menopause symptoms. Companies are launching various products to meet the demand. For instance, in September 2021, Theramex received approval for the body-identical HRT, Bijuva. It will aid in the deficiency of estrogen in post-menopausal women.

Although the market was negatively impacted, the sales of the OTC pharma products and dietary supplements surged in the third and fourth quarters of 2020. In August 2020, according to the results of a study conducted by the Council for Responsible Nutrition (CRN), a trade association for the functional food and dietary supplement industry, dietary supplement usage increased during the pandemic.

The surge in the dietary supplements demand due to the shift in consumer trends for nature-based substitutes in place of synthetic pharmaceutical products is expected to drive the market in the coming years.


The market is slowly recovering due to the OTC sale of the products. Patients are adopting OTC products owing to the fewer adverse effects associated with them. Various expansion strategies such as mergers and acquisitions by key players are contributing to the growth of the market. For instance, in April 2022, Bonafide, a specialized women’s health company dedicated to providing OTC products, acquired a patented formulation of S-adenosylmethionine (MSI-195).

Treatment Insights

The dietary supplements segment dominated the market and accounted for a revenue share of more than 95.18% in 2022. The growth of the segment can be attributed to the benefits associated with dietary supplements and the risk associated with HRT. As per a study published in Journal for Nutraceuticals, supplements such as primrose oil, black cohosh, soy isoflavones, and chasteberry showed a positive result in relief from hot flashes with sweating, depression, and sleep issues. Based on treatment, the market is segmented into dietary supplements and OTC pharma products.

Furthermore, Dietary supplements is estimated to be the fastest-growing segment with CAGR of 5.42% during the forecast period owing to the rising spending in research and development, shift towards natural and herbal products, and innovative product launches by the key companies operating in the market. For instance, in October 2021, HUM Nutrition, a prominent health brand, developed FAN CLUB, an estrogen-free supplement that has been extensively proven to help women through perimenopause and menopause.

The OTC pharma products segment is expected to witness lucrative growth during the forecast period. This can be attributed to the shifting trend of pharmaceutical companies in developing OTC products for the treatment of menopausal symptoms. For instance, in November 2021, Theramex acquired the product license of Femarelle, an OTC product for treating menopausal symptoms. The product was originally developed by Se-cure Pharmaceuticals Ltd. and will be available in different countries by 2022.

Regional Insights

North America accounted for the largest revenue share of 35.95% in 2022 owing to a high prevalence of post-menstrual syndrome, rising awareness regarding women’s health, and high healthcare expenditure. Additionally, the strategic presence of the global leaders in the region and developed healthcare infrastructure is expected to boost the market growth.

Global menopause market share, by region, 2022 (%)

Awareness regarding women’s health is on the rise in the U.S. According to a survey conducted on female members between 60 years to 69 years of age by AARP, a U.S.-based nonprofit organization, around 72% of women revealed that menopausal symptoms affected their lives and 8% of them admitted the effects to be extreme. This coupled with increasing R&D investment is likely to favor the market expansion in the U.S.

The market in Latin America is expected to witness the fastest growth with a CAGR of 6.54% over the forecast period owing to the increasing awareness regarding women’s health. The average age of women undergoing menopause transition is early in Latin America, as compared to western nations. Although the prevalence of menopausal symptoms such as hot flashes is moderate in the region, the change in lifestyle and food habits is contributing to the growing adoption of dietary supplements to meet nutritional requirements.

Key Companies & Market Share Insights

The market is highly fragmented with the presence of various global and regional manufacturers. Mergers, acquisitions, new product launches, and product portfolio diversification are key strategies undertaken by key companies to strengthen their position. In August 2020, Bayer, a worldwide provider in women's healthcare, acquired KaNDy Therapeutics Ltd. to expand its pipeline drug portfolio. KaNDy Therapeutics Ltd. has completed the Phase IIb trails of NT-814, a first-in-class, non-hormonal, neurokinin-1,3 receptor antagonist, for the treatment of menopausal symptoms. Some prominent players in the global menopause market include:

  • Bayer AG

  • Theramex

  • AbbVie, Inc.

  • Abbott

  • Pure Encapsulations, LLC.

  • Dr. Reddy’s Laboratories Ltd.

  • Rainbow Light


Menopause Market Report Scope

Report Attribute


Market size value in 2023

USD 16.9 billion

Revenue forecast in 2030

USD 24.4 billion

Growth Rate

CAGR of 5.33% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Treatment, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Austria; Japan; China; India; South Korea; Mexico; Brazil; South Africa

Key companies profiled

Bayer AG; Theramex; AbbVie, Inc.; Abbott; Pure Encapsulations, LLC; Dr. Reddy’s Laboratories Ltd.; Rainbow Light; PADAGIS LLC

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Menopause Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global menopause market report based on treatment and region:

Global Menopause Market Segmentation

  • Treatment Outlook (Revenue, USD Million, 2017 - 2030)

    • Dietary Supplements

    • OTC Pharma Products

      • Hormonal

      • Non-hormonal

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Austria

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

    • Latin America

      • Mexico

      • Brazil

    • Middle East & Africa (MEA)

      • South Africa 

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