Women`s Health Devices Market | 2031

Report Description

The global women’s health devices market size was around USD 39.48 Bn in 2022 and is likely to reach USD 74.17 Bn by 2031, expanding at a CAGR of 9.3% during, 2023-2031. The market growth is attributed to the ­rising awareness about women’s wellness and women’s care.

Women’s health devices are specialized medical devices that can be any apparatus, instrument, or machine to be used for healthcare purposes, which are designed to monitor, diagnose, prevent, and cure several medical conditions without affecting the body. These devices are widely used in osteoporosis, hormone therapy, and pregnancy.

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In general, medical devices are mainly categorized into three types: Type I medical devices including bandages and handheld surgical items for the diagnosis or treatment of low-risk diseases. Type II medical devices include those devices that are used for intermediate-risk diseases and type III medical devices are used for high-risk diseases, which require life support systems.

These women’s health medical devices provide a quality-based, affordable, and appropriate healthcare system as it enables one to take control of health with at-home test features. It enhanced women’s healthcare such as pelvic and sexual health, maternal and menstrual health, fertility, menopause, contraception, and many general health disorders that affect women disproportionately, such as osteoporosis or cardiovascular disease.

The market report finds that the COVID-19 pandemic moderately impeded the market, as visits to the healthcare facilities were limited. Whereas, the demand for blood testing and diagnostic devices increased, which boosted the market.

Women’s Health Devices Market Dynamics

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Major Drivers

Increasing government initiatives toward creating awareness regarding women’s health and improving knowledge of sexual and reproductive health are driving the market. Women’s health has become more important as the number of chronic diseases, infectious illnesses, and cancer cases is rising at a rapid pace.

• According to the American Cancer Society estimates for cervical cancer in the US in 2023 about 13,960 new cases of invasive cervical cancer are diagnosed and about 4,310 women died from cervical cancer. 

However, growing participation of women in the workforce, especially in developed nations, and rising awareness of the benefits of early diagnosis of disease accelerates the market. Growing prevalence of chronic health conditions such as diabetes, cancer, and cardiovascular diseases among women is estimated to drive the market in the coming years.

Rising consumption of unhealthy food is the primary cause of raising the risk of these diseases. Furthermore, increasing demand for fertility treatments and other reproductive health services across the globe is likely to fuel the market.

• As per the International Agency for Research on Cancer, breast cancer has become the most diagnosed type of cancer in women. Additionally, around 2.3 million new cases of breast cancer were reported in 2020.

Existing Restraints

The lack of awareness about genital health and sanitization, especially in women living in the rural areas is expected to hamper the market during the projected period. Furthermore, the unavailability of well-developed healthcare facilities in underdeveloped countries and the high cost of medical devices are restraining the market.

Emerging Opportunities

Growing investments in R&D and increasing government funding to improve healthcare facilities and establish advanced medical devices are anticipated to create immense opportunities for the market players. The introduction of advanced in vitro diagnostics (IVD) devices and wearable medical devices such as smartwatches, electrocardiogram (ECG) monitors, and biosensors that detect heart rate, activity run, and other features is likely to propel the market.

Scope of Women’s Health Devices Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Women’s Health Devices Market Segment Insights

On the basis of product, the global women’s health devices market is segmented into diagnostics, contraceptives, surgical, critical care, labor & delivery, and others. The contraceptives segment is expected to expand at a significant pace during the projection period, as it reduces pregnancy-related risk. Contraceptives reduce pregnancy-related risk. Thus, growing requirement to prevent unwanted pregnancies is fueling the contraceptives segment.

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Based on application, the market is divided into general health & wellness, osteoporosis, chronic diseases, infectious diseases, pregnancy, uterine fibroids, female sterilization, post-menopausal syndrome, reproductive health, pelvic & uterine health, and others.

The chronic diseases segment held a large share of the market in 2020 and is expected to expand at a considerable CAGR in the coming years, due to the rising prevalence of a wide range of cancers among women. However, cancer is the most prevalent disease among women, which occurs due to changing physical inactivity and food habits. The growth of the segment is attributed to the rising burden of ovarian cancer and breast cancer.

• For instance, on December 14, 2020, Roche launched the Cobas PIK3CA Mutation Test for patients with advanced or metastatic breast cancer in countries that accept the CE mark. This test identifies the mutations in the PIK3CA gene that cause cells to grow uncontrollably, which lead to cancer.  

The osteoporosis segment is anticipated to grow at a rapid pace during the projection period, owing to the increasing prevalence of postmenopausal osteoporosis across the globe. It is most common among women due to their weaker bones. For instance, as per the National Osteoporosis Foundation, around 10 million women in the US have osteoporosis.

The pregnancy segment is anticipated to account for a major market share in the coming years, due to the presence of various health devices such as breast pumps and pregnancy diagnostics.

• For instance, Willow the startup company that is making a wearable breast pump for women announced fresh funding of around USD 55 million to expand its product line towards new mothers.

On the basis of end-user, the market is fragmented into hospitals, laboratories, home healthcare, obstetrics & gynecology clinics, ambulatory surgical centers, and others. The home healthcare segment is projected to expand at a significant growth rate in the coming years, due to the rising awareness about hospital-acquired infections. Furthermore, the easy availability of home healthcare services and increasing disposable income are likely to boost the segment.

In terms of region, the global women’s health devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to the high adoption of advanced medical devices such as implants and self-diagnostic tests. The high healthcare expenditure on women’s health and the huge population of women are likely to fuel the market.

The market in Asia Pacific is likely to expand at a significant pace during the assessment period, due to rising government initiatives & programs for improving maternal care & health services delivery systems. Furthermore, growing participation of women in the workforce and the high prevalence of women’s diseases boost the market.

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