The menopause market is experiencing a revolution. Once a taboo subject, menopause is now at the forefront of health and wellness conversations, driving innovation in products, services, and marketing strategies. This article explores the burgeoning menopause industry, examining market size, recent research, successful marketing campaigns, emerging startups, and essential tips for marketers looking to enter this lucrative space.
The Size of the Menopause Market
The global menopause market is expanding rapidly, with projections indicating substantial growth in the coming years. According to Grand View Research, the market size was estimated at USD 16.93 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.37% from 2024 to 2030. By 2030, the market is projected to reach USD 24.4 billion.
Several factors are driving growth for menopause markets
- Demographic Shift: Approximately 6,000 women in the U.S. reach menopause every day, with around 2 million women entering menopause annually.
- Global Aging Population: The United Nations estimates that there were 985 million women aged 50 years and above in 2020, a number expected to reach 1.65 billion by 2050.
- Increased Awareness: Growing public discourse about menopause, often led by celebrities and influential figures, has reduced stigma and increased demand for targeted products and services.
- Unmet Needs: Studies show significant knowledge gaps among healthcare providers in addressing menopausal symptoms, creating opportunities for innovative solutions.
The Addressable Market for Menopause
The addressable market for menopause-related products and services is vast and diverse. Consider these statistics:
- Over 50 million women in the U.S. are over the age of 51, the average age when menopause occurs.
- Globally, projections indicate there will be 1.1 billion postmenopausal women worldwide by 2025.
- Women over 50 boast a combined spending power of $15 trillion and control 95% of household purchasing decisions.
This market encompasses a wide range of needs, from managing physical symptoms like hot flashes and sleep disturbances to addressing emotional and mental health concerns. The annual global economic impact of menopause, considering productivity loss and healthcare costs, is estimated at $150 billion.
New Menopause Research and Products
Recent years have seen a surge in research and product development tailored to menopausal women. Key areas of focus include:
Hormone Replacement Therapy (HRT) Alternatives
Companies are developing safer, more personalized approaches to managing hormonal changes.
Skincare and Beauty
Products addressing specific skin concerns related to hormonal changes, such as increased dryness and loss of elasticity.
Supplements and Nutraceuticals
Dietary supplements targeting symptoms like hot flashes, mood swings, and bone health.
Wearable Technology
Devices like the Embr Wave, which helps regulate body temperature for menopausal women experiencing hot flashes.
Mental Health Support
Apps and digital platforms offering resources for managing mood changes and cognitive symptoms associated with menopause.
Sleep Solutions
Products designed to improve sleep quality, a common concern for menopausal women.
Examples of Successful Menopause Marketing Campaigns
Several brands have launched successful marketing campaigns that resonate with menopausal women:
Stripes by Naomi Watts
The actress partnered with biotech company Amyris to launch a beauty and wellness brand focused on menopause health, using her personal story to connect with consumers.
Wile
This brand, co-founded by actress Judy Greer, focuses on products for women in their 40s and 50s, emphasizing education about perimenopause and menopause.
Kindra
Backed by P&G Ventures, Kindra's marketing emphasizes empowerment and education, helping to destigmatize menopause conversations.
Womaness
This brand has gained traction through its "Menopositivity Tour," an in-store activation with Ulta Beauty, combining product promotion with community building.
Bonafide Health
Their marketing focuses on hormone-free solutions for menopause symptoms, appealing to women seeking natural alternatives.
Menopause Product and Service Startups
The menopause market has attracted numerous startups offering innovative solutions:
- Evernow: A telehealth company providing personalized menopause care, backed by celebrity investors like Gwyneth Paltrow and Drew Barrymore.
- Elektra Health: Offers virtual clinical care connecting patients with menopause specialists.
- Gennev: Provides online menopause care and is covered by Aetna in all 50 states.
- Embr Labs: Developed the Embr Wave, a wearable device for managing hot flashes.
- Oviva Therapeutics: Focused on extending female healthspan by delaying the onset of menopause.
- Midi: A virtual care clinic for women over 40, working with major insurance plans in multiple states.
- Upliv: A virtual menopause care startup launched through a collaboration between Northwell Holdings and Aegis Ventures.
Tips for Menopause Marketers
For marketers looking to enter or expand in the menopause market, consider these strategies:
- Focus on Education: Many women feel unprepared for menopause. Provide valuable, accurate information to build trust and authority.
- Emphasize Empowerment: Frame menopause as a natural transition rather than a medical condition to be "cured."
- Be Inclusive: Recognize the diversity of experiences among menopausal women across different ethnicities, backgrounds, and lifestyles.
- Leverage Social Media: Platforms like TikTok and Instagram are increasingly popular for sharing menopause-related content and building community.
- Partner with Healthcare Providers: Collaborate with medical professionals to lend credibility to your products or services.
- Address Workplace Concerns: With menopausal women being a growing demographic in the workforce, consider how your products or services can support them professionally.
- Use Authentic Messaging: Avoid sensationalism or fear-mongering. Instead, focus on realistic, positive messaging that resonates with your target audience.
- Explore Multi-Channel Marketing: Combine digital marketing with traditional channels to reach a diverse age range of consumers.
- Prioritize Scientific Backing: In an industry prone to skepticism, ensure your claims are supported by robust scientific evidence.
- Consider Holistic Wellness: Recognize that menopause affects various aspects of a woman's life and consider how your product or service fits into a broader wellness context.
Tap Into the Potential of Menopause Marketing
The menopause market represents a significant opportunity for businesses and marketers willing to address the unique needs of women in this life stage. The industry is poised for continued growth with growing awareness, reduced stigma, and increasing investment in research and product development. By focusing on education, empowerment, and evidence-based solutions, marketers can tap into this billion-dollar market while making a meaningful impact on women's health and well-being during menopause and beyond.