The Progesterone Market is being driven by Increasing prevalence of breast cancer
The Progesterone Market is expected to grow at a CAGR of 13% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1241.2 million. The progesterone market is witnessing significant growth due to the unmet demand for new formulations of existing female infertility drugs. One such promising development is MVT-602, a drug targeting the kisspeptin system to stimulate reproductive hormones. In clinical trials, MVT-602 has shown potential in treating various reproductive disorders such as Polycystic Ovary Syndrome (PCOS) and Hypothalamic Amenorrhea (HA), by stimulating the reproductive hormones from the kisspeptin system. This drug has been injected into 24 women for research purposes and the preliminary results are promising. Such advancements are expected to fuel the market growth in the forecast period.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Synthetic progesterone, Natural progesterone) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Progesterone Market Research Report
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Progesterone is a significant reproductive hormone linked to various health issues, including breast cancer, female infertility medications, and hormonal disorders. Its effects extend beyond menstrual cycles, influencing conditions like endometriosis, hypothalamic amenorrhea, and menopause. Progesterone treatment is used for breast tenderness during screening, as well as for premenopausal symptoms like facial hair growth, baldness, and abnormal uterine bleeding. Synthetic and natural progesterone, derived from sources like soybeans and Dioscorea villosa, are used for hormone therapies. The IARC classifies certain progesterone uses as cancer risks, including endometrial cancer and precursor lesions. Progesterone's role in the Kisspeptin system and its impact on menarche, menopause, and reproductive health continue to be areas of ongoing research.
The Progesterone market falls under the expansive umbrella of the global pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or manufacturing of various drug forms, including generics, non-generics, and veterinary drugs. According to Technavio, the healthcare market size is determined by the consolidated revenue generated by providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The growth of the pharmaceuticals sector will be propelled by several factors, chief among them being the increasing global population aging. By 2050, approximately one-quarter of the US population and Europe's population ratio is anticipated to be over 60 years old. This demographic shift will lead to a surge in demand for treatments related to breast cancer screening, hormonal therapies such as Progesterone for breast tenderness, facial hair growth, baldness, and female infertility medications. The Kisspeptin system, a crucial regulator of reproductive functions, is also gaining significant attention in the pharmaceutical industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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