High demand for point-of-care diagnostics and growing awareness about the women’s health-related diagnostics drives the market growth. The focus of manufacturers on the development of novel tests; such as hormone receptor tests and HPV test; to treat women’s disorders would have a significant impact on the market growth throughout the forecast period.
The Global Women’s Health Diagnostics Market accounted for $13.1 Billion in 2016 and is expected to attain $21.5 Billion by 2023, growing at a CAGR of 7.0% during the forecast period, 2017-2023.North America was the leading revenue contributor to the global women’s health diagnostics market, accounting for nearly one-third of the global market. This is attributed to the presence of numerous screening tests for cancer detection and other diseases.
The surge in geriatric female population, increase in prevalence of various chronic and lifestyle disorders in women, rise in demand for point-of-care diagnostic testing, and high adoption of imaging procedures drive the growth of the global womens health diagnostics market. Additionally, miniaturization of ultrasound devices and untapped emerging economies provide lucrative opportunities for new market players. However, dearth of skilled professions and high cost of imaging and monitoring systems impede market growth.
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The report segments the global womens health diagnostics market by type, end user, and geography. Based on type, the market is fragmented into diagnostic devices, diagnostic tests, and accessories & consumables. The diagnostic tests segment contributed the highest revenue to the global market in 2016, owing to the high usage, applicability, and availability of tests for detecting various disorders in women. However, the accessories and consumables segment is poised to encounter the highest growth rate during the forecast period, a CAGR of 7.8%.
Based on end user, the report categorizes the market into hospitals & clinics, home care settings, and diagnostic & imaging centers. The hospitals & clinics segment dominated the global market in 2016 due to high utilization rate of various women’s health-related diagnostics procedures. However, the diagnostic & imaging centers segment is projected to grow at the fastest rate from 2017 to 2023, owing to increase in incidence of various types of health-related disorders. Regionally, North America accounted for more than one-third of the global market revenue in 2016, owing to the presence of numerous screening tests for cancer detection and other diseases. However, Asia-Pacific is expected to grow at the highest CAGR of 8.1% during the forecast period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards various women related disorders.
Top Key Players :
- Becton
- Dickinson and Company
- Carestream Health
- Hoffmann-La Roche AG
- GE Healthcare
- Hologic Inc.
- Koninklijke Philips N.V.
- Quest Diagnostics Inc.
- Cardinal Health
- Siemens AG.
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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