Women’s Health Diagnostics Market Outlook 2031
The global women’s health diagnostics market size was valued at USD 17.80 Billion in 2022 and is projected to reach USD 33.56 Billion by 2031 at a substantial CAGR of 7.3% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing prevalence of infectious diseases such as hepatitis and urinary tract infection among women.
The demand for various health diagnostic tests from women has considerably increased due to rising number of health-conscious population across the globe. Awareness about early detection of health conditions and issues is increasingly popular and critical to avoid the severe consequences of illness or diseases. Women’s health diagnostics are widely conducted using several digital and mobile technology such as breast MRI, bone density testing, and ultrasound.
Recent technological advancement in the field of medical science is creating various opportunities for the market growth. As per a data published by the National Center for Biotechnology Information (NCBI), women are 30% more prone to be infected with HIV as compared to men.
According to National Institutes of Health (NIH), around 40% of women are likely to contract at least one urinary tract infection (UTI) in their lifetime. It further indicates, women aged under 50 years are 30 times more likely to develop a UTI as compared to men. In the US, women suffering from UTIs register 8.1 million visits to healthcare providers every year.
Breast cancer is the most commonly occurred among women. In 2018, around 2 million new cases were found across the globe. The rising number of chronic illness and growing prevalence of infection diseases among women have substantially raised the demand for the development of miniature diagnostic devices. Moreover, increasing investment in the healthcare infrastructure in emerging economies are expected to create various opportunities for the market growth.
Women’s Health Diagnostics Market Drivers, Restraints, Trends, and Opportunities
- Growing prevalence of osteoarthritis, ovarian cancer, breast cancer, and cervical cancer are the key factors driving the growth of women’s health diagnostics market.
- Growing adoption of point of care diagnostic testing and increase advancement in the number of diagnostic and imaging devices are projected to boost the market growth.
- Stringent regulatory guidelines, lack of skill laboratory technicians, and high cost of diagnostic imaging systems are a few key factors restraining the market growth.
- Growing awareness regarding various health-related disorders, prevalence of chronic and lifestyle disorders and infectious diseases across the globe is driving the market growth.
- The outbreak of COVID-19 pandemic has impacted several pharmaceutical players to focus on developing diagnostic kits to undergo diagnostic virology. The rising demand for diagnostic kits globally is projected to boost the market expansion.
Scope of Women’s Health Diagnostics Market Report
The report on the women’s health diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Women’s Health Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Cancer, Infectious Disease, Osteoporosis, Pregnancy and Prenatal) and End-users (Hospital & Diagnostics Centers and Home)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Siemens Healthcare Private Limited, Hologic, Inc., GE Healthcare, F. Hoffmann-La Roche Ltd., bioMérieux SA, Koninklijke Philips N.V., Abbott, and BD.
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Women’s Health Diagnostics Market Segment Insights
Application Segment Analysis
On the basis of applications, the market is segmented into cancer, infectious disease, osteoporosis, pregnancy, and prenatal. The cancer segment is projected to represent a considerable market share during the forecast period owing to the wide introduction of technically advanced hybrid imaging instruments that can ensure higher efficiency and accuracy.
Rising cases of various types of cancer among women especially breast cancer and increasing incidence of several complicacies during pregnancy are key drivers for the segment growth.
End-users Segment Analysis
Based on end-users, the market is bifurcated into hospitals & diagnostics centers and home. The hospitals & diagnostics centers segment is anticipated to constitute a large market share during the forecast period. Hospitals and diagnostics centers are generally the first choice of patients for detection of cancer, infectious diseases, osteoporosis, and others.
On the other hand, the home segment is expected to expand at an impressive CAGR during the forecast period. The increasing investments by market players for commercialization of portable and point of care devices are driving the home segment growth. Additionally, growing awareness regarding home diagnostic devices is projected to further boost the segment growth during the forecast period.
Regional Outlook
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a significant market share during the forecast period owing to the high adoption of technologically advanced products, new product launches, and several government initiatives in the region.
For instance, in September 2017, Philips announced the launch of new ultrasound innovative products such as Philips EPIQ 7, EPIQ 5, and Affiniti 70 ultrasound systems to ensure earlier, easier, and reliable diagnosis. In the US, Home Access Health launched a home testing kit that can be used to obtain a sample and send it to a laboratory for testing for effective diagnosis.
The market in Asia Pacific, however, is anticipated to expand at a high CAGR during the forecast period. Rising awareness and improving healthcare infrastructure regarding women’s health disorders and various governments’ initiatives are expected to positively impact the regional growth of the market.
For instance, the Government of India launched a program called, Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA) scheme in November 2016 with an aim to provide free health checkups to pregnant women. This scheme could be a major step enabling women to get tested for high blood sugar (gestational diabetes), anemia, blood pressure, hormonal disorders, and have free access to ultrasounds.
Meanwhile, the market in Latin America region is also expected to register an impressive growth rate during the forecast period. Brazil and Mexico are the key markets in Latin America. The growth of the region is attributed to the declining maternal mortality rate, increasing life expectancy, aging women population, and growing prevalence of infectious & chronic diseases.
Segments
The global women’s health diagnostics market has been segmented on the basis of
Applications
- Cancer
- Infectious Disease
- Osteoporosis
- Pregnancy
- Prenatal
End-users
- Hospital & Diagnostics Centers
- Home
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Some of the key players in the global women’s health diagnostics market are Siemens Healthcare Private Limited, Hologic, Inc., GE Healthcare, F. Hoffmann-La Roche Ltd., bioMérieux SA, Koninklijke Philips N.V., Abbott, and BD.
Key industry participants are providing their focus on various business strategies such as mergers & acquisitions, partnerships, and expansion of regional presence. Various business strategies adopted by the key players such as product launches, expansion, mergers & acquisitions, and certain government initiatives are expected to further boost the market growth during the forecast period.
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In July 2017, Quest Diagnostics acquired Med Fusion and Clear Point laboratories in Texas for the expansion of its laboratory business for cancer diagnosis among women. The diagnosis of various diseases is made easily accessible to people owing to various collaborations among government, key players, and other agencies.
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In November 2017, BGI and Lunenfeld-Tanenbaum Research Institute entered into a collaborative agreement to develop a genomics-based diagnostic test, which could help in early identification of women susceptible to preterm birth and other pregnancy complications.
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