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SINGAPORE: The women's healthcare market is set to grow to around US$30 billion in 2019 - almost double that of two years ago, according to Bayer Schering Pharma.
With Asia expected to lead the growth, Bayer Schering Pharma is looking to tap the potential by rolling out at least one product a year in the next five to seven years.
About 28 per cent of the company's business is in women's healthcare, and 90 per cent of that is focused on contraceptives - which it believes will be a key growth sector.
Phil Smits, global head, Women's Healthcare Business Unit, Bayer Schering Pharma said: "The total oral contraceptive market now has a turnover of about 5 billion euros. That market is growing at rates of about 5 to 6 per cent per year, (with) a relatively small portion coming from Asia-Pacific.
"So it is not only an issue ... but perhaps more importantly, an opportunity. We believe there is a lot of growth potential in this part of the world."
Bayer Schering Pharma said that it will also try to boost its sales in Asia through market development and education.
- CNA/sc
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