As per the current market research conducted by CMI Team, the Global Womens Health Diagnostics Market size is expected to record a CAGR of 7.6% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 25.8 Billion. By 2032, the valuation is anticipated to reach USD 45.4 Billion.
Women’s Health Diagnostics Market: Overview
Women’s health diagnostics refers to the identification and management of issues and illnesses that may harm women’s physical and emotional well-being. Among the specialties and areas of interest in this field are gynaecology disorders, breast cancer, ovarian cancer, birth control, STIs, female cancers, menopause, hormone therapy, pregnancy and childbirth, sexual health, osteoporosis, heart disease, and benign conditions that may affect a female body’s functions.
It is crucial to identify any health concern as soon as possible with the aid of digital and mobile mammography, including breast MRI, ultrasound, and bone density tests. Medical science advancements have attractive prospects to control disorders that are more common in women, such as infectious infections, osteoporosis, and breast cancer. According to estimates, this will benefit the market.
Growth Factors
One of the key elements having a favourable influence on the market is the increased prevalence of health problems that affect women’s overall wellbeing. Additionally, the demand for point-of-care (POC) diagnostics for women’s health is being fueled by an increase in health consciousness and understanding of the advantages of early diagnosis.
In addition, the demand for women’s health diagnostics is being driven by the rising infertility rate brought on by hectic lives and the increase in alcohol and drug use, which will address pregnancy issues and provide a healthy life. A considerable increase in the number of women over 50 is fueling the market since menopause can raise the chance of acquiring certain medical disorders, such as cardiovascular disease and urine incontinence. In addition, several studies have found that women are more susceptible to psychological problems including despair and anxiety during hormonal shifts.
This, together with various programs launched by health organizations in multiple nations to enhance the mental wellness of women, is boosting market growth all over the world.
Breast cancer is the second most prevalent disease worldwide and the cancer that affects women most frequently. The need for breast cancer diagnostics is anticipated to expand significantly as the number of breast cancer patients grows.
According to the Global Cancer Observatory’s (Globocan) statistics for 2020, there are expected to be 2,261,419 new cases of breast cancer among women worldwide in 2020. The same source also states that there are 865,630 projected new female cases of colorectum cancer. The demand for diagnostic tools and tests will result from the rising prevalence of cancer among women, fueling the market’s expansion.
The expansion of the market for women’s health diagnostics is also fueled by government initiatives to raise awareness of women’s health throughout the world. Increased use of imaging techniques for diagnosis is a result of the growth of innovative imaging technology applications. Additionally, the availability of diagnostic facilities and the rise in demand for cutting-edge technologies fuel market expansion.
Segmental Overview
The market for women’s health diagnostics is segmented into the application and end use. According to the application, the cancer testing category is expected to increase at the quickest rate. The high proportion of this market may be ascribed to the rise in knowledge of advanced breast cancer diagnostic methods like ABUS as well as the rising prevalence of breast cancer.
The global market is divided into hospitals and diagnostics centers, and the home segment depending on the manner of end use. In 2021, the hospitals and diagnostics centers category led the market and is anticipated to expand at the quickest rate over the forecast period. As they are frequently the first option of people to come for diagnosis of cancer, infectious illnesses, and osteoporosis, among others, hospital diagnostics centers are anticipated to hold the most significant CAGR in the forecasted time.
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Regional Overview
The biggest market share of the total market was held by the North American region during the forecast period. Due to the high incidence of lifestyle-related diseases, the high adoption of technologically improved goods, new product releases, and government efforts, North America is predicted to have a significant market share.
The rise in instances of malignancies in women, such as breast and ovarian cancer, and other chronic illnesses, together with the existence of major market participants in the area, are credited with the growth. Due to the rising demand for fertility testing monitors and the intense emphasis of producers of women’s health diagnostic devices on extending their presence in this area, North America will have the highest share of the market.
Competitive Landscape/ Key Players Insights
The players have implemented various strategies to expand in the global women’s health diagnostics market. The study contains a thorough competitive analysis of the major women’s health diagnostics market participants and information on their company overviews, recent developments, and vital business strategies.
Some of the prominent players
- Siemens
- Carestream Health
- MEDGYN PRODUCTS INC.
- URIT MEDICAL ELECTRONIC CO. LTD
- COOK
- Cardinal Health
- NeuroLogica Corp.
- Shimadzu Corporation
- PerkinElmer Inc.
- General Electric Company
- Hologic Inc.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Abbott
- BD
- Danaher
- Sysmex Corporation
- Hitachi Ltd.
- Others
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