Telemedicine and Mobile Apps Create Business Opportunities during COVID-19 Pandemic
The COVID-19 pandemic is playing out its impact in the premenstrual syndrome treatment market. Women are stocking up on menstruation products such as cups, sanitary napkins, and tampons due to uncertainties surrounding the demand and supply of goods. Hence, manufacturers in the premenstrual syndrome treatment market are adopting agile supply node networks to adapt to volatility in demand and supply. The increasing number of individuals is avoiding trips outside of the house to limit the exposure to COVID-19. Thus, manufacturers should diversify their supply chains via eCommerce to broaden their revenue streams.
The trend of telemedicine is gaining strong business grounds during the COVID-19 pandemic. Pharma companies are increasing their production capacities in antidepressants, hormonal contraceptives, and nonsteroidal anti-inflammatory drugs (NSAIDs) to avoid supply shocks in pharmacies. Healthcare companies are now scaling growth opportunities in mobile apps, which help provide psychological support to women.
Micronutrient Supplements Ease Anxiety and Depression Caused by Premenstrual Syndrome
Women are susceptible to adverse events caused due to the administration of antidepressants, diuretics, and nonsteroidal anti-inflammatories. Hence, manufacturers in the premenstrual syndrome treatment market are focusing on vitamins supplements and herbal medicines to ease premenstrual syndrome (PMS) in women. On the other hand, acupuncture products are gaining prominence in pain management.
Supplements made from micronutrients such as calcium, magnesium, vitamin B6, and potassium are being highly publicized for effective management of premenstrual syndrome. However, many supplements are not regulated by the FDA (Food & Drug Administration) and may interfere with prescription medications. Hence, companies in the premenstrual syndrome treatment market are educating women to seek a doctor’s consultation to avoid risks of the side effects. Mood-boosting supplements induced with vitamin B6 are in high demand. Organic chasteberry in nutritional supplements is gaining popularity for easing anxiety and depression.
CBD Products Ease Uterine Cramps and Minimize Mood Swings
Apart from antidepressants and nutritional supplements, CBD (Cannabidiol) products hold lucrative growth opportunities for manufacturers in the premenstrual syndrome treatment market. Analysts at the Transparency Market Research (TMR) opine that CBD is projected to be the next billion dollar industry alongside artificial intelligence and machine learning. As such CBD is gaining global recognition for the management of mood imbalances and improves resilience among women. Pharma companies are boosting their R&D muscle in CBD products, since this drug minimizes uterine cramps and delivers muscle relaxation.
Companies such as Radical Roots, Vena CBD, and Maxine Morgan are gaining popularity in the premenstrual syndrome treatment market for their offerings of topical CBD products, ingestibles, and even suppositories. Products with full-spectrum hemp extracts are being designed to minimize symptoms of mood swings and anxiety. CBD products act as pain relievers, owing to their anti-inflammatory properties.
Skincare Products and Mobile Apps Hold Lucrative Business Opportunities for Pharma Companies
Premenstrual acne is one of the most common health issues faced by women. Pharma companies in the premenstrual syndrome treatment market are taking giant strides to innovate in new formulations for skincare products to scale their business. Manufacturers are developing products that are low in toxins and help maintain appropriate pH balance of the skin. Breakthrough mobile apps such as Think Dirty are contributing toward the growth of the premenstrual syndrome treatment market, since these apps enable facial and body scanning to help women make safe product choices.
Pharma companies are witnessing growth potential in mobile apps, which help to boost skincare product sales. They are manufacturing premium-quality products in sunscreens, as even light sunburns are pro-inflammatory, thus causing acne flare up. Companies are developing medicines that relieve women from stomach distress, since indigestion is one of the main causes of premenstrual acne.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.