April 03, 2020
As per the report titled ‘Women Health Devices Market Size By Type, By Product, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global women health devices market is projected to surpass USD 42.5 billion by the year 2025.
Rising cases of diseases in the female population across the globe is driving the growth of women health devices market. Increasing prevalence of ovarian cancer among women aged 63 years and above will propel the market growth in the coming years. Surging incidences of gynecological cancer in tandem with growing geriatric female population who are more susceptible to diseases will augment the demand for advanced health devices for women.
Technological advancements and rising inclination towards minimally invasive procedures will foster the market growth in the coming years. Various initiatives undertaken by the government and health organizations and growing awareness for early diagnosis, along with ongoing research & development of minimally invasive and non-invasive devices for women health are some other factors stimulating the market outlook.
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Based on the type, devices segment is anticipated to grow with 6.2% CAGR over the forecast period. Increasing preference for double mastectomies amongst the adult women population and growing adoption of advanced devices for personalized treatment solutions are driving the segment growth.
In terms of product, diagnostic segment accounted for 25% revenue share of women health devices market in 2018 and is expected to grow momentously during the analysis period. The growth is attributable to increasing demand of early disease diagnostic solutions. Advancement and subsequent implementation of real-time 4D ultrasound will the boost the segment growth in the coming years.
Elaborating on the application scope, women health devices market is segmented into cancer, osteoporosis, infectious disease, uterine fibroids, post-menopausal syndrome, pregnancy, and female sterilization. Uterine fibroid application segment is estimated to register 6.5% CAGR over the forecast timeline, owing to increases cases of fibroid among aged women.
Speaking of the end-use spectrum, market share from ambulatory surgical centers was worth USD 4 billion in 2018 and is expected to see modest growth during the analysis period. Cost effective treatments and minimal hospital infections are driving the segment growth. Increasing inclination towards ASCs in tandem with upgradation of these centers will further enhance the business outlook.
Considering the geographical outlook, women health devices market in Asia Pacific is presumed to growth with a CAGR of 7% during 2019-2025, owing to growing awareness for early disease detection and advanced treatment options. Furthermore, improving healthcare services and inflowing government funds will support the regional market growth in the years to come.
Major players of women health devices market are Abbott Laboratories, CooperSurgical, Cardinal Health, MedGyn Products, F. Hoffmann-La Roche, Caldera Medical, Koninklijke Philips, and GE Healthcare among others.
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