Progesterone Market

Progesterone Market Size

Progesterone Market size was valued at USD 1.3 billion in 2023 and is estimated to grow at a CAGR of 12.7% between 2024 and 2032. High market growth can be attributed to the increasing incidence of hormonal disorders such as polycystic ovary syndrome (PCOS) and endometriosis. For instance, as per the WHO, endometriosis affects roughly 10% (190 million) of reproductive age women and girls globally.

Similarly, as per the Office on Women Health (OASH), more than 11% of American women between 15 and 44 are affected with endometriosis. Such high occurrence of hormone disorders is driving the demand for progesterone-based therapies. Additionally, rising incidences of infertility and the growing adoption of assisted reproductive technologies (ART) contribute significantly to the expansion of the market. Furthermore, the aging population worldwide, coupled with the rising prevalence of menopausal symptoms, fuels the demand for hormone replacement therapies (HRT).

Progesterone is a female hormone primarily produced by the ovaries, although it is also produced in smaller amounts by the adrenal glands and the placenta during pregnancy. It plays a crucial role in the menstrual cycle and in maintaining pregnancy.

Progesterone Market Trends

• Hormonal imbalances, such as polycystic ovary syndrome (PCOS), endometriosis, and irregular menstrual cycles, are becoming more prevalent globally. For instance, as per the WHO, polycystic ovary syndrome (PCOS) affects an estimated 8% to 13% of reproductive-aged women. Similarly, as per the CDC, PCOS is one of the most common causes of female infertility, affecting 6% to 12% (as many as 5 million) of U.S. women of reproductive age.
  
• These conditions often require progesterone therapy to manage symptoms and restore hormonal balance. Thus, increasing prevalence of hormonal disorders has emerged as a significant driver of the market.
  
• Additionally, as awareness grows and diagnoses improve, the demand for progesterone-based treatments will further continue to rise, thereby driving the market growth.
  

However, side effects and safety concerns represent a significant restraint for the market growth. These side effects range from mild symptoms such as nausea, headaches, and breast tenderness to more severe complications like blood clots and mood changes. Additionally, safety concerns regarding long-term use and potential risks, particularly in specific patient populations such as pregnant women or individuals with certain medical conditions may hamper the adoption rates, thereby hindering the industry growth.

Progesterone Market Analysis

Based on formulation, the market is classified into natural and synthetic. The natural segment held over 58.2% of the market share in 2023.

• The bio-identical nature of natural progesterone closely mimics the progesterone produced by the human body, making it a preferred choice for many patients seeking hormone replacement therapy.
  
• Further, natural progesterone is often perceived as a safer option, particularly among women during pregnancy, as it is believed to carry a lower risk of adverse effects compared to synthetic versions.
  
• Thus, the high efficacy of natural progesterone, safety profile, and alignment with consumer preferences contribute to its dominance in the market.
  

Based on route of administration, the progesterone market is classified into injectable, oral, transdermal, and other routes of administration. The injectable segment dominated around USD 480 million revenue in 2023.

• This dominance can be attributed to several factors, including the efficacy and convenience of injectable formulations in delivering progesterone therapy. Also, healthcare providers often prefer injectable options due to their precise dosing and rapid onset of action, offering patients efficient symptom relief and therapeutic benefits.
  
• Additionally, injectable progesterone products cater to a diverse range of medical conditions, from hormone imbalances to fertility treatments, further solidifying their significance in the market.
  

Based on application, the progesterone market is segmented into menopause, contraception, dysfunctional uterine bleeding, hyperplastic precursor lesions, endometrial cancer, and other applications. The menopause segment is expected to reach USD 1.1 billion by the end of 2032.

• As women transition through menopause, the demand for progesterone-based therapies rises, driven by the need to manage symptoms such as hot flashes, mood swings, and vaginal dryness.
  
• Progesterone-based therapies play a vital role to restore hormonal balance in menopausal women.  Thus, with rising aging population and increasing awareness about menopause-related health issues, the demand for progesterone products tailored to this segment is set to grow, thereby driving the segmental growth.
  

Based on drug type, the progesterone market is bifurcated into branded and generic. The branded segment is anticipated to expand at a CAGR of 12.5% between 2024 and 2032.

• Branded formulations benefit from strong brand recognition and trust among healthcare professionals and patients. Established brands are associated with quality, safety, and efficacy, influencing prescribing practices and patient preferences.
  
• Further, physicians have established preferences for certain branded products based on their experiences, perceptions of efficacy, and familiarity with the brand. Thus, physician habits and prescribing patterns contribute to the sustained use of branded drugs, thereby boosting the segmental growth.
  

Based on type, the progesterone market is classified into prescription and OTC. The prescription segment is poised to surpass USD 2.3 billion by 2032.

• Prescribed progesterone formulations, tailored to individual needs and administered under medical supervision, offer precise dosing and efficacy in addressing issues such as hormonal imbalances, infertility, and menopausal symptoms.
  
• Additionally, the complexities of hormonal therapy necessitate the expertise of medical professionals to navigate effectively, thereby further increasing the demand for prescription progesterone therapies.
  

Based on distribution channel, the progesterone market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominated the market in 2023.

• Hospitals often serve as primary centers for administering complex treatments, making them the primary destination for patients seeking progesterone therapy.
  
• In addition to extensive infrastructure, specialized personnel, and advanced facilities, hospital pharmacies are well-equipped to cater to the diverse needs of patients requiring progesterone-based treatments.
• Thus, hospital pharmacies play a crucial role in preparing and dispensing these therapies, contributing to their substantial share in the market.
  

North America progesterone market accounted for 39.2% of the revenue share in 2023.

• High regional market share can be attributed to the region's advanced healthcare infrastructure, extensive research and development initiatives, and the widespread adoption of progesterone-based therapies for various medical conditions.
  
• Furthermore, the rising prevalence of gynecological disorders, such as infertility, endometriosis, and menstrual irregularities, has fueled the demand for progesterone treatments across the continent.
  
• Strategic collaborations between pharmaceutical companies and healthcare providers have facilitated the accessibility and availability of progesterone products, thereby contributing to North America's significant share in the global market.
  

Progesterone Market Share

The progesterone industry is characterized by diverse players competing in the industry. Eli Lily & Company, Glenmark Pharmaceuticals Limited, Novo Nordisk, and Alkem Laboratories Limited, account for significant market share. These prominent players adopt a combination of strategic initiatives such as collaborations & partnerships, global expansion strategies, research and development, product diversification, and regulatory compliance to maintain a competitive edge in the market.

Progesterone Market Companies

The major players operating in the progesterone industry are as mentioned below:

• Alkem Laboratories Ltd.
• Aquatic Group
• Bionpharma Inc.
• Cadila Pharmaceuticals
• Cipla Inc.
• Estrellas Life Sciences Private Limited.
• Eli Lily & Company
• Glenmark Pharmaceuticals Ltd.
• Insud Pharma S.L.U.
• Lupin
• Novo Nordisk A/S
• Teva Pharmaceutical Industries Ltd
  

Progesterone Industry News

• In May 2022, Xiromed LLC, the generic division of Insud Pharma, launched progesterone injection USP, 500 mg/10 mL (50 mg/mL) multiple-dose vial, generic to progesterone injection USP, 50 mg/mL. This helped the company expand its product offerings and attract more customers.
  
• In November 2021, Fuji Pharma Co., Ltd. launched F-meno capsule 100mg, a natural progestogen drug, in Japan. F-meno is the first drug in Japan indicated for the prevention of endometrial hyperplasia. This launch helped the company to increase its customer base in the country.
  

The progesterone market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 – 2032 for the following segments:

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Market, By Formulation

• Natural
• Synthetic

Market, By Route of Administration

• Injectable
• Oral
• Transdermal
• Other routes of administration

Market, By Application

• Menopause
• Contraception
• Dysfunctional uterine bleeding
• Hyperplastic precursor lesions
• Endometrial cancer
• Other applications

Market, By Drug Type

• Branded
• Generic

Market, By Type

• Prescription
• OTC

Market, By Distribution Channel

• Hospital pharmacy
• Retail pharmacy
• Online pharmacy

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa