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(Health-NewsWire.Net, February 24, 2022 ) Women’s Health Diagnostics Market size is estimated to reach $6,901 million by 2026, growing at a CAGR of 5.7% over 2021-2026. Women's health refers to the branch of medicine that focuses on the treatment and diagnosis of diseases and conditions that affect a woman's physical and emotional well-being. Women's health diagnosis includes a wide range of specialties and focus areas, such as hyperthyroidism, osteoporosis, colonoscopy, urogynecology, pre Eclampsia, etc. Regular gynaecological check-ups, including a pelvic exam and breast exam, pap smear and HPV testing, bone density testing, breast cancer screening, age-appropriate immunizations, healthy lifestyle risk assessment, hormonal testing for menopause, and so on are all examples of preventative care for women. Apart from this, the key factor driving the market's growth is growing awareness about different health-related problems among women, rising incidence of various chronic diseases, and high prevalence of infectious diseases such as HIV and hepatitis in women. During the forecast period 2021-2026, high adoption of point-of-care diagnostics and the availability of newer and sophisticated diagnostic technologies are expected to boost overall market demand for the Women's Health Diagnostics Market. Product launches, expansion, mergers and acquisitions, and government initiatives are also expected to drive market growth over the projection period 2021-2026.
Women’s Health Diagnostics Segment Analysis – By Test Type
The Women’s Health Diagnostics Market based on tests can be further segmented into Osteoporosis Testing, OVC Testing, Cervical Cancer Testing, Breast Cancer Testing, Pregnancy & Fertility Testing, Prenatal Genetic Screening & Carrier Testing, Infectious Disease Testing, STD Testing and Ultrasound Tests. The Breast Cancer Testing of Women’s Health Diagnostics segment is the major segment generating revenue in 2020. Breast cancer is a kind of cancer that develops in the breast cells. Breast cancer is the second most frequent cancer diagnosed in women after skin cancer. Breast cancer can affect both men and women, although women are considerably more likely to develop it. According to Globocan, around 2.26 million new cancer cases were recorded worldwide in 2020, accounting for approximately 11.7 percent of all cancer cases. The need for breast cancer diagnostics is anticipated to rise even faster as the patient pool for the disease grows. Furthermore, this segment is estimated to register the fastest CAGR of 6.4% for the period 2021-2026 as the survival rates have increased, and the number of deaths associated with this disease is steadily declining, largely owing to factors such as earlier detection, a new personalized approach to treatment, and a better understanding of the disease. The adoption rate of this treatment is poised to surge up as there is significant funding for breast cancer followed by awareness and research that has aided in the advancement of breast cancer detection and therapy. The Spanish Society of Medical Oncology (SEOM), the European Society for Medical Oncology (ESMO), and the Spanish Society of Radiation Oncology (SEOR) published recommendations on how to modify treatment protocols to reduce risks in cancer patients, according to a research article by Dafina Petrova et al. published in Medicina Clnica Journal September 2020. Breast cancer diagnosis is projected to rise in this market as a result of such cases.
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Women’s Health Diagnostics Segment Analysis – By End Users
The Women’s Health Diagnostics Market based on end users can be further segmented into Hospitals & Clinics, Home Care Settings, Diagnostic & Imaging Centers and Others. The hospital and clinics segment registers for the highest Women’s Health Diagnostics market share in 2020. This is attributable to the growth in the availability of sophisticated diagnostics and testing devices in hospitals which are technologically updated, as well as an increase in the prevalence of patients to visit for detection of cancer, infectious diseases, and osteoporosis. The segmental industry is growing pertaining to an increase in the demand for unconventional birth settings that are focused on a more natural, human experience. Alternative birth settings within hospitals such as home-like, ambient and snoezelen rooms, are associated with fewer medical interventions during labor and greater patient satisfaction, with no increased risk to the mother or infant.
On the other hand, Home Care Settings segment is expected to hold the fastest CAGR during the forecast period 2021-2026 as there is a rising inclination towards the use of self-testing kits as these devices enable female patients to manage the conditions such as pregnancy and ovulation in a better way. Moreover, there are market players who are investing towards the commercialization of portable and point of care pave way for further growth.
Women’s Health Diagnostics Segment Analysis – By Geography
North America dominated the Women’s Health Diagnostics Market with a major share of 45.2% in 2020. In North America, there is a rising incidence of breast cancer and lifestyle-related illnesses, as well as the increased availability of sophisticated women’s health diagnostic devices in hospitals are further driving this segment's expansion in the region. For instance, Philips provides integrated ultrasound alternative approaches, such as the Philips Affiniti 70, EPIQ 7, and EPIQ 5 ultrasound systems, to guarantee that diagnoses are made sooner, simpler, and more reliably. This launch is anticipated to aid in the expansion of the company's footprint in the region. This followed by the presence of a well-formed health care system across the countries of U.S. and Canada which also in a way aid the market players to set-up a market base in the region.
However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 6.5% during the forecast period 2021-2026. This pace can be attributed to the fact that Asian countries such as Japan, China, and India are showing a raise in the number of contagious coronavirus that had a potential economic impact and implications on most sectors, including the women's health diagnostic market, thereby offering significant potential growth in the Women’s Health Diagnostics industry. Apart from this, the frequency of such diseases has increased, especially in China, India, Thailand, Australia, etc. which tends to raise the government initiatives taken for proper healthcare infrastructure in order to curb such prevalence.
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Women’s Health Diagnostics Market Drivers
Infectious Illnesses Such As HIV And Hepatitis Are Propelling Diagnostic Treatment's for Women
The market for Women’s Health Diagnostics is expanding, based on the increased incidence of infectious illnesses in women, including as HIV and hepatitis, and is propelling the Women's Health Diagnostics Market forward. HIV/AIDS, malaria, and TB continue to disproportionately harm women's health and deteriorate their situation. HIV infection in women has evident consequences on children's health and well-being. HIV infection may be passed down the generations, and the disease is orphaning an increasing number of children. Apart from this, Women’s Health Diagnostics Market is growing as people become more conscious of women's health issues. Women's health covers a range of biological, psychological, and social issues that are distinct from those faced by males. Though illnesses like breast and ovarian cancers, as well as disorders of the reproductive system, are frequently the focus of women's health, it is actually a much broader subject.
Women’s Health Diagnostics Market Challenges
High Cost of Diagnostics Test set to pose challenges in the market
The major challenge in the Women’s Health Diagnostics market are the high prices of diagnostic instruments, tests, and procedures due to a shortage of qualified laboratory personnel. A scarcity of experienced laboratory workers, as well as the high prices of diagnostics instruments, tests, and procedures, are expected to stymie the expansion of the Women's Health Diagnostics Market.
Women’s Health Diagnostics Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Women’s Health Diagnostics market. In 2020, Women’s Health Diagnostics market share is fragmented by the top ten players present in the market. The Women’s Health Diagnostics market top 10 companies are:
Cardinal Health
Siemens Hologic Inc.
Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Abbott
BD, F. Hoffmann-La Roche Ltd
Thermo Fisher Scientific Inc.
Koninklijke Philips N.V.
NeuroLogica Corp.
Shimadzu Corporation
Cook Medical Incorporated
Acquisitions/Product Launches
In January 2021, F. Hoffmann-La Roche Ltd. Launched the uPath HER2 (4B5) Image Analysis and uPath Dual ISH Image Analysis.
In 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 women’s health diagnostics market.
In May 2019, Cardinal Health announced the launch of its RADIAL 360 portfolio in the U.S. With this there is an increase product portfolio which provides a complete range of products for Trans Radial Approach (TRA) for interventional cardiology procedures.
In May 2019, Roche launched the VENTANA HER2 Dual ISH DNA Probe Cocktail assay for detecting the HER2 biomarker in gastric and breast cancer. This would help in enhancing the product portfolio of the company
Key Takeaways
In 2020, North America dominated the Women’s Health Diagnostics Market.
High uptake of technologically sophisticated items, product launches by important regional firms, and government efforts are enhancing the growth of the Women’s Health Diagnostics Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Women’s Health Diagnostics Market report.
However, one of the key challenges limiting the growth of the women’s health diagnostics Market is the diagnostics instruments, tests, and procedures are expensive, and there is a shortage of qualified laboratory personnel.
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