Report

The progesterone market is expected to record a CAGR of 13.1% over the forecast period.

COVID-19 had a considerable impact on the growth of the market. This is due to the effectiveness of progesterone treatment in reducing the severity of COVID-19-infected patients. In March 2021, the pilot clinical trial conducted at Cedars-Sinai Medical Center, which included 40 men, published that the use of progesterone to treat male COVID-19 patients may improve clinical outcomes for certain hospitalized men. Such studies increased the demand for progesterone treatment, thereby contributing to the market's growth during the pandemic. However, the demand for progesterone is expected to grow in the current market scenario due to the rising focus on target disorders, thereby contributing to the market's growth over the forecast period.

Rising disorders, such as abnormal uterine bleeding, menopause, endometrial cancer, hyperplastic precursor lesions, amenorrhea, and the female population suffering from these diseases, are also expected to promote growth. For instance, according to an NCBI article published in June 2021, secondary amenorrhea, occurs in approximately 3-5% of adult women globally. The report also mentioned that functional hypothalamic amenorrhea accounted for 20-30% of secondary amenorrhea cases and 3% of primary amenorrhea. Also, the NCBI article published in September 2022 mentioned that up to one-third of women will experience abnormal bleeding in their life with irregularities most commonly at menarche and menopause.

In addition, an upsurge in the incidence of breast cancer in women is anticipated to be a key growth factor, as the patient pool of breast cancer may suffer from breast tenderness, where the progesterone hormone is considered one of the treatment options. According to IARC data published in 2020, about 2.2 million new cases of breast cancer were reported across the world and were estimated to reach 3 million by 2040. Such an increase in breast cancer across the world is expected to contribute to the growth of the market over the forecast period.

The growing demand for progesterone is driven by the presence of routinely monitored formulations, technological advancements in the field of drug delivery systems, and increasing awareness among patients. Additionally, increasing product developments to meet the growing demand for progesterone are also expected to fuel the market growth. For instance, in February 2020, Besins Healthcare launched the production of Utrozhestan (progesterone) drug in Russia at the facilities of its local plant in the Yaroslavl region.

While there is an expectation for the market to experience strong growth, the lack of awareness regarding the availability of progesterone therapy in developing regions and the side effects of the therapy may restrict the market.

Progesterone Market Trends

The Natural Progesterone Segment is Believed to Witness Healthy Growth Over the Forecast Period

The product segment includes natural progesterone and synthetic progesterone. Natural progesterone-based products include a combination of drug therapies made from soybeans or a wild, inedible Mexican yam called Dioscorea Villosa.

Natural progesterone is expected to witness lucrative growth during the forecast period as it has been studied to generate the largest number of prescriptions. Drugs, such as Crinone and Prometrium, are the major contributors to the revenue of the studied segment.

The major factors expected to drive the segment's growth are growing incidences of diseases such as abnormal uterine bleeding, breast or uterine cancer, other health complications, and a rising preference for natural progesterone. As per Cancer Australia, in 2021, it was estimated that 20,030 new breast cancer cases were diagnosed in the country (164 males and 19,866 females). The same source reports that in 2021, a person had an estimated 1 in 15 (or 6.7%) risk of being diagnosed with breast cancer by the age of 85 (1 in 8 or 13% for females and 1 in 829 or 0.12% for males).

According to an IARC estimate, in Europe, there were 530,666 breast cancer cases in 2020 and the number was estimated to increase to 569,320 by 2040.

Additionally, the rising product launches of natural progesterone are also expected to drive the growth of the studied segment. For instance, in November 2021, Fuji Pharma Co., Ltd launched the F-meno capsule 100 mg, a natural progesterone drug, in Japan. It is for the prevention of endometrial hyperplasia that can occur upon administration of estrogen drugs meant for menopausal disorders and ovarian deficiency. The high growth potential attained is a consequence of positive patient outcomes associated with natural progesterone. The positive patient outcomes can be attributed to significant improvements in hormonal interactions.

North America is Expected to Dominate the Progesterone Market Over the Forecast Period

North America is expected to hold a significant share, owing to the increasing adaptability of advanced treatments among the population. Also, increasing market players' strategies, such as collaborative efforts undertaken to enhance their R&D capabilities to meet the growing demand for progesterone, is expected to drive the growth of the market in this region. Moreover, the majority share can also be attributed to the high disease burden in this region. Increasing cases of kidney, breast, or uterine cancer types and the rising population of menopausal women in the region.

The rise in uterine body cancers in North America is also expected to contribute to the growth of the studied market in this region. In 2020, the American Cancer Society data estimated that in 2022, there would be 65,950 new cases of uterine body cancer in the United States.

Furthermore, around 10% of uterine body cancers are sarcoma. The market's growth can be attributed to factors such as the rising awareness of cancer diagnosis and the country's well-developed healthcare infrastructure. For instance, as per an October 2021 update by the Memorial Sloan Kettering Cancer Center, a new initiative was launched in May. This initiative aims to educate black women about endometrial cancer, help those diagnosed find appropriate care, and ultimately find treatments to improve outcomes for all women with the disease. Also, the Inside Knowledge campaign of the CDC in 2020, raises awareness of the five main types of gynecologic cancer: cervical, ovarian, uterine, vaginal, and vulvar.

Also, the increasing incidence of breast cancer in North America is expected to drive the demand for progesterone, thereby boosting the market's growth during the forecast period. Data published by the IARC in 2020 mentioned that the total number of breast cancer cases in 2020 was 281,491 and was expected to reach 343,426 by 2040.

Moreover, the rising market player activities such as product launches in the North American region are expected to contribute to the growth of the market. For instance, in May 2022, Xiromed LLC launched the Progesterone Injection USP, 500 mg/10 ml multiple-dose vial, generic progesterone to progesterone injection USP, 50 mg/ml.

Progesterone Market Competitor Analysis

The progesterone market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The major market players include companies, such as Alkem Labs, Aquatic Remedies Pvt. Ltd, Bionpharma, Blubellpharma, Cadila Pharmaceuticals, Cipla Limited, Estrellas Life Sciences Private Limited, Glenmark Limited, Lupin, Mankind Pharma, and Virtus.

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