U.S. Menopause Market Size, Share & Trends Analysis Report By Treatment (Dietary Supplements, OTC Pharma Products), And Segment Forecasts, 2024 - 2030

U.S. Menopause Market Size & Trends

The U.S. menopause market size was estimated at USD 5.3 billion in 2023 and is projected to grow at a CAGR of 4.8% from 2024 to 2030. The increasing number of women who are reaching menopause age and the rise in awareness and education about menopause and its related symptoms are resulting in a growing demand for menopause-related products, services, and treatments. According to the report published by the National Library of Medicine, in the U.S., approximately 1.3 million women become menopausal each year. Moreover, the increasing preference for natural and organic menopause remedies and the availability of innovative products and technologies in the market, such as hormone-free therapies and telemedicine services, are also contributing to the growth of the menopause market in the U.S.

According to the National Library of Medicine, Menopause generally occurs between the ages of 45 and 56 and is caused by ovarian follicular activity reduction without any other clinical or physiological reason. Around 50% to 75% of women experience vasomotor symptoms during the menopausal transition-night sweats, hot flashes, or both-and over 50% experience the genitourinary syndrome of menopause (GSM).

The increasing availability of non-hormonal treatment options and the growing demand for personalized care, as more women are looking for alternatives to traditional hormone replacement therapy, are expected to shape the market in the U.S. Women are increasingly seeking individualized treatment options that take into account their unique medical history, symptoms, and preferences. This led to the development of personalized medicine and precision healthcare approaches that aim to tailor treatments to individual patients. For instance, in July 2022, Lisa Health, a digital health company, launched Midday, an app designed to support women on their menopause journey in collaboration with Mayo Clinic in the U.S. This app leverages sensor technology, artificial intelligence, digital therapeutics, and expert medical guidance to offer a personalized health solution that provides the right intervention at the right time to promote healthy aging.

The COVID-19 pandemic also significantly impacted the U.S. menopause market. The pandemic disrupted the supply chains, leading to shortages of hormone replacement therapy (HRT) drugs and other menopause-related products. In addition, many women delayed seeking medical care due to fear of contracting the virus, leading to a decline in routine check-ups and screenings. This made it challenging for healthcare providers to diagnose and treat menopause-related symptoms and complications during COVID-19.

According to the World Health Organization, menopause typically begins between the ages of 45 to 56 years. Wherein there is a small percentage of women, approximately 5%, who experience early natural menopause that occurs between the ages of 40 and 45 years old. Furthermore, there is a rare case of primary ovarian insufficiency where only 1% of women experience complete cessation of menses before the age of 40 years due to permanent ovarian failure.  Studies from the National Library of Medicine have shown that women from Black and Hispanic communities experience premature and early menopause at higher rates than women from White communities. The incidence of premature menopause is 1.4% for Black and Hispanic women, while it is only 1% for White women.

Market Concentration & Characteristics

The market growth stage is high, and the pace of growth is accelerating in the U.S., with new products and treatments developed to help ease the symptoms of menopause. These innovations include the development of hormone therapies, non-hormonal therapies, and alternative therapies such as acupuncture and herbal supplements. In addition, there has been a growing focus on personalized medicine, with treatments tailored to each patient's individual needs. For instance, in December 2023, Evernow and Talkspace partnered to support women in perimenopause, menopause, and beyond with mental health services and resources. This partnership aims to provide personalized care and convenient access to help women navigate mental health challenges during the menopause stage. Talkspace's self-guided therapy app offers more than 400 sessions covering a broad spectrum of topics, including content relevant to women going through menopause or perimenopause.

Mergers and acquisitions (M&A) activities in the U.S. menopause market have been relatively high, driven by the increasing demand for menopause treatments and the consolidation of players in the industry. Companies engage in strategic M&A activities to gain access to new markets, technologies, and capabilities, which can help them expand their business and improve their profitability. For instance, in March 2023, Sumitovant Biopharma acquired Myovant Sciences to expand its portfolio of treatments for women’s health conditions, including menopause.

Regulations play a significant role in the menopause market, with regulatory agencies such as the Food and Drug Administration (FDA) overseeing the development and approval of new treatments. The FDA has implemented strict guidelines for the approval of hormone therapies, which has led to a decrease in their use due to concerns about safety risks. However, the FDA has also approved new non-hormonal therapies for menopause symptoms, such as low-dose paroxetine and gabapentin. For instance, in May 2023, the U.S. FDA approved Veozah, an oral medication for menopause-related vasomotor symptoms, as the novel neurokinin 3 receptor antagonist. It regulates body temperature and is the first medication to get approved by the Food and Drug Administration to treat modest to severe hot flashes.

There are several product substitutes available in the U.S. menopause market, including both prescription and over-the-counter treatments. Prescription treatments include hormone therapies such as estrogen and progestin, as well as non-hormonal options such as selective serotonin reuptake inhibitors (SSRIs) and serotonin and norepinephrine reuptake inhibitors (SNRIs). Over-the-counter options include herbal supplements such as black cohosh and soy isoflavones and lifestyle modifications such as exercise and diet changes.

The primary end-users of menopause products and services are women experiencing menopause, which typically occurs between the ages of 45 and 55. The end-user concentration in the market is moderate. The market includes various products and services such as pharmaceuticals, nutraceuticals, dietary supplements, and alternative therapies addressing different aspects of menopause symptoms. The companies in this market offer a range of supplements and over the counter products

The end-user concentration in the U.S. market for menopause is relatively high, with a small number of large companies dominating the industry. These companies include Pfizer, Novo Nordisk, and Allergan, which offer a range of hormone therapies and other treatments for menopause symptoms. However, several smaller companies specialize in niche areas of the market, such as alternative therapies or personalized medicine approaches. For instance, in August 2023, Clearblue launched Clearblue Menopause Stage Indicator, a product that allows women to determine their current stage of menopause from the comfort of their own homes. It combines the woman's menstrual cycle history, age, and the results of 5 urine follicle-stimulating hormone tests which helps the app to determine the possible stage of menopause. The app generates a personalized report that can be shared with a healthcare professional to have an informed conversation about menopause and potential treatment options. 

Treatment Insights

The dietary supplements segment dominated the market with a revenue share of more than 94.2% in 2023 and is expected to grow at the fastest CAGR of 4.97% during the forecast period. The growth of this segment is attributable to the increasing awareness of natural treatments, availability of a vast array of dietary supplements, and affordability compared to pharma products. Moreover, dietary supplements are widely available in pharmacies, grocery stores, and online retailers, making them easily accessible to consumers. One of the most significant trends is the increasing availability of non-hormonal treatment options for menopause symptoms. Many women are hesitant to use hormone replacement therapy (HRT) drugs due to concerns about side effects and long-term health risks. They are instead turning to alternative treatments such as herbal supplements, acupuncture, and cognitive-behavioral therapy.

With a vast range of dietary supplements available in the market, women have a variety of options to choose from based on their specific needs and preferences, which leads crucial market players to engage in strategic M&A activities to gain access to new markets, technologies, and capabilities, which can help them expand their business and improve their profitability. For instance, in January 2024, Dr. Reddy's Laboratories Ltd. acquired MenoLabs, a portfolio of dietary supplements for women's health, from Amyris, Inc. in the U.S. Dr. Reddy's now owns all seven MenoLabs supplements, which are designed to help with symptoms of perimenopause and menopause, including probiotics like MenoGlow, as well as MenoFit and Happy Fiber. The acquisition also includes the MenoLife health tracker app, which provides consumers with education, community, and information regarding menopause. More and more women are seeking natural and herbal remedies to alleviate menopause symptoms, leading to a surge in demand for dietary supplements.

Key U.S. Menopause Company Insights

Some of the key players operating in the U.S. menopause market include Pfizer Inc.; Novo Nordisk A/S; TherapeuticsMD, Inc.; Bayer AG;

• Pfizer Inc., a multinational pharmaceutical company that offers various medications and treatments for menopausal symptoms. One of its well-known products is Premarin, a hormone replacement therapy used to manage menopausal symptoms such as hot flashes, vaginal dryness, and mood swings.

• Novo Nordisk is a global healthcare company known for its hormone therapy products like Vagifem, which is used to treat vaginal dryness and discomfort associated with menopause. It offers hormone replacement therapy (HRT) products under different brand names. These products contain estrogen and sometimes progestin to help alleviate menopausal symptoms.

Recent Developments

• In September 2023, Midi Health, a virtual clinic that offers insurance-covered care for women dealing with perimenopause and menopause, raised $25 million in a funding round led by Google Ventures. The startup provides personalized care plans that include lifestyle coaching, prescription medications, evidence-based supplements, and integrative therapy recommendations, based on the patient's health history.

• In May 2021, Myovant Sciences and Pfizer have received FDA approval for MYFEMBREE, a once-daily treatment for managing heavy menstrual bleeding associated with uterine fibroids in premenopausal women. The treatment combines relugolix, estradiol, and norethindrone acetate.

U.S. Menopause Market Report Scope

U.S. Menopause Market Report Segmentation

This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. menopause market report based on treatment:

• Treatment Outlook (Revenue, USD Million, 2018 - 2030)

  • Dietary Supplements

  • OTC Pharma Products

    • Hormonal

    • Non-hormonal