Women Health Devices Market size is set to surpass USD 46 billion by 2027, according to a new research report by Global Market Insights Inc.
Growing awareness regarding disease diagnosis and treatment will primarily augment the women health devices market growth. Several governments and private organizations are undertaking numerous efforts to broaden access to women’s health, promote availability of advanced technologies for diseases diagnosis and to reduce disease burden that will further drive the market expansion. Moreover, the promotional campaigns associated with periodic check-ups for preventive care of cancer in developing and underdeveloped countries will surge the product in the coming years.
Continuous technological advancements in devices will propel the product adoption rate. Advancement in diagnostic technologies over the recent years have helped to improve women healthcare by providing immediate clinical information. Further, the investment in R&D activities for development of advanced devices used in minimally invasive or non-invasive procedures will positively impact the business growth.
High acceptance of innovative products offering convenience at homecare settings will fortify the women health devices market progression
Consumables segment valued at USD 12 billion in 2020 led by the growing usage of products related to the women health and hygiene in developing economies. According to the American Congress of Obstetricians and Gynaecologists, nearly one-third of all women experience urinary tract infection at least once in their lifetime. This has increased the focus on feminine hygiene, thus broadening the awareness regarding alternative solutions for the urinary incontinence. Increasing adoption of breast pumps as in effective alternative among women will considerably foster the segment growth.
Rising awareness regarding early disease diagnosis in the developing nations will spur the product sales
The diagnostic segment held 25% of the women health devices market share in 2020 impelled by the growing awareness among female population regarding the early disease diagnosis to improve the flow and reduce mortality rate. This results in the rising demand for diagnostic devices such as probes, doppler, diaphragms, breast biopsy needles, ultrasound and mammograms that will augment the segment revenue. Furthermore, several companies are involved in development of advanced medical devices in diagnostics, thus accelerating the product demand.
Growing concerns regarding the sexually transmitted diseases increasing the need for effective diagnosis will stimulate the industry growth
Women health devices market for infectious diseases segment accounted for more than 10% of revenue share in 2020. The growth is attributed to the mounting demand for diagnostic testing to reduce the risks associated with infectious diseases including the sexually transmitted diseases (STD). For instance, according to the Centers for Disease Control and Prevention, in 2019, 1.8 million new cases of chlamydia were reported in the U.S. With such increasing number of cases associated with infectious diseases, the demand for diagnosis and treatment will also increase.
Browse key industry insights spread across 200 pages with 281 market data tables & 17 figures & charts from the report, “Women Health Devices Market Size By Type (Devices, Consumables), By Product (Surgical, Diagnostics, Contraceptives, Labor & Delivery, Critical Care), By Application (Cancer, Osteoporosis, Infectious Disease, Uterine Fibroids, Post-menopausal Syndrome, Pregnancy, Female Sterilization), By End-use (Hospitals, Obstetrics & Gynecology Clinics, Diagnostic Laboratories, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Highly sophisticated infrastructure catering to the need for specialized treatment will accelerate the market revenue
Hospitals segment in the women health devices market is projected to witness 6.7% growth rate through 2027. The patient preference is attributable to the availability of highly advanced facilities, well established sophisticated infrastructure and skilled healthcare technicians. Additionally, the growing prevalence of gynaecological disorders including uterine fibroids, menstrual irregularities, vaginitis and cancer will fuel the number of patient visits to the hospitals in order to access effective treatment. Moreover, favourable reimbursement policies for the procedures performed in hospital settings will influence the business growth in the coming years.
Significantly expanding working women population in the Europe will offer business development opportunities
Europe women health devices market is estimated to attain a CAGR of 7.2% during 2021 to 2027. Changing habits, unhealthy diet and sedentary lifestyle is anticipated to fuel the disease prevalence among female population. Additionally, the growing prevalence of chronic diseases including cancer, stroke, and cardiovascular diseases stimulate the demand for better healthcare. Thus, the women literacy and growing empowerment in the region leading to awareness regarding available women health technologies will positively impact the regional growth.
In addition, the rapid expansion of industry players providing advanced devices that enables early disease detection and reduces the mortality risk will benefit the product acceptance rate. Favourable reimbursement scenario in certain countries along with numerous government initiatives to improve women health will boost the regional expansion during the forecasted time period.
Strategic collaborations for the introduction of new female technologies will strengthen expansion capabilities of the industry players
Some of the notable companies operating in the market are Abbott Laboratories, Cardinal Health, Caldera Medical, CooperSurgical, Carestream Health, F. Hoffmann La Roche, GE Healthcare, Koninklijke Philips N.V., Hologic, Medline Industries, Prestige Consumer Healthcare Inc., MedGyn Products and Siemens. Key leaders are undertaking several business growth strategies such as mergers & acquisitions, collaborations, product launch and partnerships to expand their market presence.