New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Womens Health Diagnostics Global Market Report 2023" - https://www.reportlinker.com/p06486492/?utm_source=GNW
, PerkinElmer Inc., Cardinal Health Inc., Alere Inc., Carestream Health Inc., Mankind Pharma Limited, Myriad Genetics and Procter & Gamble Co.
The global women’s health diagnostics market is expected to grow from $30.54 billion in 2022 to $32.90 billion in 2023 at a compound annual growth rate (CAGR) of 7.74%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The women’s health diagnostics market is expected to reach $44.97 billion in 2027 at a CAGR of 8.13%.
The women’s health diagnostics market includes revenues earned by entities by providing women’s health diagnostics, including pregnancy tests, breast imaging equipment, and hormone level tests.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Women’s health diagnostics refers to medical tests and procedures used to evaluate and diagnose various health conditions and diseases that specifically affect women. These diagnostics are important for identifying health issues early on and providing appropriate treatment and management to improve outcomes and quality of life.
North America was the largest region in the women’s health diagnostics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of women’s health diagnostics are accessories and consumables, diagnostic tests, and diagnostic devices.Accessories and consumables refer to various supplementary items and materials used in diagnostic procedures specifically related to women’s health, and they are used to enhance the accuracy, convenience, and effectiveness of diagnostic tests and examinations in women.
They are used in various applications such as osteoporosis testing, ovarian cancer testing (OVC), cervical cancer testing, breast cancer testing, pregnancy and fertility testing, prenatal genetic screening and carrier testing, infectious disease testing, sexually transmitted disease (STD) testing, and ultrasound testing by end users such as hospitals and clinics, diagnostic and imaging centers, homecare, and other end users.
The rise in the prevalence of chronic diseases in women is expected to propel the growth of the women’s health diagnostics market going forward.Chronic diseases are long-lasting conditions that typically progress slowly over time and require ongoing management and care.
The rising prevalence of chronic illnesses leads to an increased demand for women’s health diagnostics that aid in the identification and tracking of conditions such as breast cancer, cervical cancer, and reproductive disorders.For instance, in February 2022, according to the World Health Organization, a Switzerland-based global health agency, cervical cancer was the fourth most prevalent cancer in women worldwide, with approximately 604,000 new cases and 342,000 fatalities recorded in 2020.
The majority of these cases and deaths, around 90%, were concentrated in low- and middle-income countries. Therefore, the rise in the prevalence of chronic diseases in women is driving the growth of the women’s health diagnostics market.
Technological advancements in women’s personalized health solutions are the key trend gaining popularity in women’s health diagnostics.Major companies involved in the women’s health diagnostics market are focused on technological advancements and innovating new products to improve their observation power and sustain their position in the market.
For Instance, in February 2022, FemTec Health, Inc., a US-based women’s health company, launched a direct-to-consumer (D2C) brand called Awesome Woman that provides personalized health and wellness products for women at all life stages. The brand leverages AI, machine learning, and customer data related to genomics, genetics, and health history to develop customized offerings. Their personalized subscription box may include vitamins, probiotics, and at-home tests tailored to individual needs. Users have the flexibility to select specific areas of health focus, such as vaginal and urinary health, reproductive health, hormone balance, and beauty, among others. Additionally, the service provides telehealth support to enhance the overall customer experience and accessibility for healthcare professionals.
In May 2021, Ro, a US-based healthcare company specializing in virtual consultations and telehealth services, acquired Modern Fertility for an undisclosed amount.Through this acquisition, Ro aims to integrate Modern Fertility into its nationwide platform and infrastructure, enhancing operational capabilities and expanding personalized healthcare experiences.
This move enables Modern Fertility to accelerate growth, broaden its community, and offer additional tools and services to empower women in their health and future prospects, leveraging Ro’s established infrastructure. Modern Fertility is a US-based company that specializes in developing home diagnostic kits for women.
The countries covered in the Women’s Health Diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The women’s health diagnostics market research report is one of a series of new reports that provides women’s health diagnostics market statistics, including women’s health diagnostics industry global market size, regional shares, competitors with a women’s health diagnostics market share, detailed women’s health diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the women’s health diagnostics industry. This women’s health diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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