Women's Health Diagnostics Market Analysis and Forecast till 2031: By Type (Diagnostic Devices, Diagnostic Tests, Accessories and Consumables), Application (Breast Cancer, Infectious Disease Testing, Osteoporosis Testing, Pregnancy and Fertility Testing,

Women's Health Diagnostics Market Analysis and Forecast till 2031: By Type (Diagnostic Devices, Diagnostic Tests, Accessories and Consumables), Application (Breast Cancer, Infectious Disease Testing, Osteoporosis Testing, Pregnancy and Fertility Testing, Sexually Transmitted Disease Testing), End-use (Hospitals and Clinics, Diagnostic and Imaging Centers, Homecare) and Region

The global women's health diagnostics market was valued at USD 24.8 billion in 2021 and it is anticipated to grow up to USD 49.0 billion by 2031, at a CAGR of 7.0% during the forecast period.

Screening, testing or diagnosing, and monitoring of various women's health disorders such as ovarian cancer, breast cancer, menopause, pregnancy and cervical cancer are examples of women's health diagnostic methods. For the diagnosis of women's health-related diseases, various types of tests are available including Breast cancer testing, cervical cancer testing, prenatal genetic screening carrier testing, pregnancy ovulation testing, and ovarian cancer testing are all part of the diagnostic process. Moreover, imaging monitoring systems, mammography systems, Biopsy devices, and other medical diagnostics devices that detect cancer, remove blockages, and capture images of internal organs to aid in disease screening and diagnosis. To avoid complications and improve quality of life, tests for screening and detection of various disorders are required. Health tests are essential for maintaining good health as well as preventing and treating serious diseases.

Market Trends and Drivers

Rising prevalence of chronic and infectious diseases in females is poised to boost the market expansion. Changes in lifestyle and growing consumption of unhealthy food will upsurge the risk of disease. Moreover, lack of awareness regarding sanitation and genital health coupled with unavailability of well-developed healthcare facilities in developing economies will fuel the market growth during the forecast period. Additionally, increasing healthcare expenditure, availability of newer and advanced diagnostic systems and growth in awareness about malignant tumors, are anticipated to propel the industry growth in near future. Furthermore, growing number of product developments and strategic collaboration among the diagnostic device market players and their entry in developing countries provide numerous opportunities for market progression. Conversely, huge untapped market potential in emerging countries such as South Africa and India, as well as the development of novel and advanced imaging procedures such as miniature devices, are expected to provide market participants with lucrative opportunities

Market Restraints and Challenges

The market's growth is hampered by the high cost of imaging procedures and a scarcity of skilled professionals. Most hospitals in developing countries cannot afford high-cost diagnostic imaging systems. The average cost of CT machines cost approximately USD 1.0 million to USD 1.5 million and MRI machines is approximately USD 1.5 million to USD 2.0 million. Hence, high cost of these systems and low financial resources of hospitals, healthcare facilities including diagnostic centers and hospitals are reluctant to invest in expensive equipment. Healthcare facilities that purchase these costly systems often depend on third-party payers such as Medicare, Medicaid, or private health insurance plans to get reimbursements for the costs incurred in the diagnostic and screening procedures performed using these devices.

Global Women's Health Diagnostic Market Segmental Overview

The report analyses the Global Women's Health Diagnostic market based on type, application, end-use, and region.

Global Women's Health Diagnostic Market by Type

Based on type, it is segmented into the diagnostic devices, diagnostic tests, accessories and consumables. In 2021, the diagnostics devices segment was the significant revenue generator and it is anticipated to grow at the fastest growth rate during the forecast period. The factor such as increasing patient preference for technologically advanced treatment procedures coupled with upsurge of minimally invasive techniques has propelled demand for devices for several surgical procedures. Additionally, rising prevalence of chronic and infectious diseases among women would increase demand for better diagnosis and treatment options, thus contributing to the segment growth.

Global Women’s Health Diagnostics Market by Application

Based on application, it is segmented into breast cancer, infectious disease testing, osteoporosis testing, pregnancy and fertility testing, sexually transmitted disease testing, other applications. The breast cancer segment is likely to dominate the market during the forecast period. The largest share of the breast cancer is the most commonly occurring cancer in women and the second most common cancer worldwide. According to Globocan 2020, there were around 2,261,419 new breast cancer cases in 2020. The increasing cases resulted in increased sales of test kits for home usage, which is also expected to drive the market’s revenue growth over the forecast period. The rise in the adoption of point-of-care diagnostic testing and an increase in the number of diagnostic and imaging devices worldwide are expected to fuel the market growth.

Global Women’s Health Diagnostics Market by End-use

Based on end-use, it is segmented into hospitals and clinics, diagnostic and imaging centers, homecare, others. The home care settings segment is expected to witness the highest growth during the forecast period. The increasing advantages of using self-testing kits will continue to drive market growth. Patient self-testing enables patients to better manage their diseases by utilizing home/self-testing kits. Technological advancements have made many self-testing kits available for various conditions, such as pregnancy and ovulation. Moreover, increasing number of patients choosing home care, which, along with an increase in the number of elderly people suffering from chronic injuries, will fuel segment expansion.

Geographical Analysis of Global Women’s Health Diagnostics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. The largest share of the region is primarily attributed to the favorable reimbursement policies for imaging procedures in the US, increased prevalence of cancer, high investment by hospitals to purchase advanced diagnostics systems, strong focus on research activities to launch advanced diagnostics devices and test as well as the presence of major market players.

Major Players in the Global Women’s Health Diagnostics MarketCOVID-19 Impact

A worldwide emergency has been caused by the COVID-19 pandemic. The women’s health diagnostics market is witnessing loss of business and the trend is expected to continue till December 2020. Unfavorable changes in regulations and guidelines are hampering the growth of this industry. Major regulatory authorities across the globe (such as CDC, WHO, MHRA, TGA, and EMA) have identified that breast cancer patients are at greater risk of COVID-19 infection than healthy adults. Thus, screening, diagnostic exams, and surgical procedures are being severely restricted or postponed at hospitals and breast centers. This is expected to cause disruption in the breast cancer diagnosis as well as treatment market.

Recent Developments

• January 2021, Hologic, Inc. acquired Biotheranostics, a privately held, commercial-stage company that provides molecular diagnostic tests for breast and metastatic cancers, to strengthen its presence in the womens health diagnostics market.
• January 2021, F. Hoffmann-La Roche Ltd. Launched the uPath HER2 (4B5) Image Analysis and uPath Dual ISH Image Analysis.
• October 2020, Hologic, Inc. introduced the 3DQuorum Imaging Technology in Europe.
• November 2019, Carestream Health, Inc. opened a new global business operations center in Mumbai, India, expanding its market presence.

Frequently Asked Questions

Q1. How big is the Women’s Health Diagnostics market?Ans. The global Women’s Health Diagnostics market size was USD 24.8 Billion in 2021 and is anticipated to reach USD 49.0 Billion in 2031, growing at a rate of 7.0% from 2022 to 2031.Q2. What is the Women’s Health Diagnostics market growth rate?Ans. The growth rate of the Women’s Health Diagnostics market is 7.0%.Q3. Which region holds a major market share for the Women’s Health Diagnostics market?Ans. North America holds a major market share of the Women’s Health Diagnostics market in 2021.Q4. Which segment accounted for the largest Women’s Health Diagnostics market share?Ans. By end user, the hospitals segment accounted for the largest Women’s Health Diagnostics market share.Q5. Who are the key players in the Women’s Health Diagnostics market?Q6. What are the factors driving the Women’s Health Diagnostics market growth?Ans. The major factors driving the growth of the market are the increasing incidence of breast cancer across the globe.Q7. What are the key growth strategies of Women’s Health Diagnostics market players?Ans. The key growth strategies of Women’s Health Diagnostics market players are product launch and product approval.Q8. Which region will provide more business opportunities for the Women’s Health Diagnostics market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the X Women’s Health Diagnostics market during the forecast period.

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