Market & Industry
The menopause market is exploding — after decades of neglect. Here's the landscape of companies, products, and investment.
$22B
Global Market (2024)
And rapidly growing
16%
Annual Growth Rate
CAGR through 2030
1.1B
Women in Menopause
Globally by 2025
$600B
Spending Power
Annual, in US alone
A market finally waking up. For decades, menopause was ignored by investors, researchers, and the healthcare industry. That's changing rapidly as the demographic, economic, and cultural moment converges. What was taboo is now a multi-billion dollar opportunity.
Market Size & Growth
The global menopause market is one of the fastest-growing segments in women's health.
Global Menopause Market Projection
$22B
2024
→
$55B
2030 (projected)
~16% CAGR
Compound Annual Growth Rate
Why now? Several factors are converging: Gen X women (a large, vocal cohort) entering menopause, reduced stigma, high-profile advocates (celebrities, executives speaking out), and investors finally recognizing the massive underserved market.
Market Sectors
The menopause market spans pharmaceuticals, devices, supplements, services, and consumer products.
Fastest Growing
Hormone Therapy
$18B by 2030
HRT products, delivery systems (patches, gels, rings), bioidentical hormones, compounded formulations.
Players: Pfizer, Novo Nordisk, TherapeuticsMD, Biote
Hot Sector
Digital Health / FemTech
$3B+ by 2030
Telehealth platforms, symptom tracking apps, virtual care, digital therapeutics, wearables.
Players: Midi Health, Evernow, Gennev, Alloy, Balance
OTC & Consumer Products
$5B+ by 2030
Supplements, vaginal moisturizers, cooling products, skincare, sleep aids, intimate wellness.
Players: Bonafide, Womaness, Kindra, State Of
Non-Hormonal Rx
$2B+ by 2030
Prescription alternatives to HRT — SSRIs for hot flashes, gabapentin, newer targeted therapies.
Players: Astellas (Veozah), various pharma
Diagnostics & Testing
$1B+ by 2030
At-home hormone testing, menopause stage assessment, personalized medicine, genetic testing.
Players: Modern Fertility, Everlywell, gene testing cos
Workplace Solutions
Emerging
Corporate benefits, workplace accommodations, employer programs, menopause-friendly certification.
Players: Peppy, Maven, various benefits platforms
Company Landscape
From startups to pharma giants, companies are entering the space across the value chain.
Key Players by Category
Telehealth / Virtual Clinics
Midi Health
Evernow
Gennev
Alloy
Winona
Hello Alpha
Stella
Mira
Consumer Products & Supplements
Bonafide
Womaness
Kindra
State Of
Caire Beauty
Pause Well-Aging
Embr Labs
SweetSpot Labs
Apps & Digital Tools
Balance
Caria
Midday
Health & Her
Clue
Peppy
Lisa Health
Olivia
Pharma / Biotech
Astellas (Veozah)
Bayer
Pfizer
Novo Nordisk
TherapeuticsMD
Biote
Vira Health
KaNDy Therapeutics
Investment & Funding
Venture capital has discovered menopause. Funding has surged in recent years.
Notable Recent Funding Rounds
Midi Health
$60M Series B
Virtual menopause clinic
2023
Evernow
$28.5M Series B
Telehealth + HRT delivery
2023
Alloy
$10M Series A
Menopause healthcare platform
2022
Bonafide
$35M Growth
OTC menopause supplements
2022
Balance (UK)
$10M Series A
Menopause tracking app
2022
Kindra
$4M Seed
Estrogen-free menopause products
2021
Still early innings: Despite recent growth, FemTech and menopause specifically receive a tiny fraction (~3%) of healthcare VC. The opportunity is massive relative to current investment. Expect continued acceleration.
Key Trends
The themes shaping where the market is heading.
Market Trends to Watch
Telehealth Dominance
Virtual-first care models are winning. Convenience, privacy, and access are driving rapid adoption of menopause telehealth.
HRT Renaissance
After years of fear-driven decline, HRT is being rehabilitated. New data, new delivery methods, new willingness to prescribe.
Personalization
Move from one-size-fits-all to personalized treatment plans based on symptoms, genetics, lifestyle. AI-driven recommendations.
Workplace Integration
Employers adding menopause benefits. UK leading on workplace policies. US following. B2B opportunity growing.
Destigmatization
Celebrities, executives speaking openly. Media coverage increasing. Taboo breaking. Mainstream acceptance growing.
Non-Hormonal Innovation
New drug classes (NK3 receptor antagonists like Veozah) offering alternatives for women who can't or won't use HRT.
Longevity Integration
Menopause increasingly framed as part of healthy aging / longevity. Overlap with anti-aging, preventive medicine markets.
Direct-to-Consumer
Bypassing traditional healthcare. Home testing, mail-order HRT, subscription products. Consumer-friendly branding.
Gaps & Opportunities
Where the market is underserved and where innovation is needed.
Perimenopause Solutions
Most products focus on post-menopause. Perimenopause — when symptoms are often worst — is underserved. Early intervention opportunity.
Diverse Communities
Products largely marketed to white, affluent women. Massive gap in reaching diverse communities, lower-income women, global markets.
Clinical Training
Most doctors aren't trained in menopause. B2B opportunity in medical education, provider training, clinical decision support.
Mental Health Integration
Brain fog, anxiety, depression are major symptoms but often addressed separately. Integrated neuro/mood solutions needed.
Insurance Coverage
Many menopause treatments are out-of-pocket. Coverage is inconsistent. Advocacy needed. Reimbursement models evolving.
Evidence Base
Many supplements and products lack rigorous evidence. Regulation is light. Consumer confusion is high. Quality varies.
🌍 Global Perspective
- UK is leading on policy — NHS coverage, workplace guidelines, government attention
- US is leading on innovation — most startup activity, VC investment
- Asia is emerging — large population, growing awareness, cultural barriers
- Latin America and Africa largely underserved
- Global market fragmented — regulatory differences, cultural variation
🔮 What's Next
- Consolidation — expect M&A as large players acquire startups
- More non-hormonal drugs — pipeline is active
- AI/personalization — matching treatments to individuals
- Wearables — continuous monitoring, real-time intervention
- Insurance disruption — innovative coverage models
- Men's involvement — partner education, products for couples