Womens Health Diagnostics Market to Hit $21,502 Million by 2023
Gynecology is the main branch of medical science concerned with women's health problems. This includes the health related disorders, their screening and testing procedures. Women are highly prone to various cancers such as breast, cervical, and ovarian cancer. Other health issues include infertility, polycystic ovarian syndrome, menopause, depression, osteoporosis, and obesity.
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Factors such as rise in prevalence of various chronic lifestyle disorders in women, rise in female geriatric population who are more prone to several disorders, increase in adoption of point of care diagnosis, high demand for imaging and diagnosing centers, and support from government in promoting awareness about women related disorders. However, factors such as expensive imaging procedures and lack of skilled professionals restrains the market growth.
Conversely, huge untapped market potential in the emerging countries, such as South Africa and India, and development of novel and advanced imaging procedures such as miniature devices are expected to provide lucrative opportunities to the market players.
The diagnostic tests segment occupied the largest share in 2016, owing to the high usage, applicability, and availability of tests for detecting various disorders in women.
Furthermore, the accessories and consumables segment is expected to grow at the highest CAGR of 7.8% from 2017 to 2023, and is anticipated to continue its dominance during the forecast period.
The utilization rate of various women's health related diagnostics procedures for hospitals and clinics is high, however diagnostic and imaging centers segment is expected to grow at a CAGR of 7.8% during the forecast period. This is attributed to increase in incidence of various types of health-related disorders.
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Key findings of the Women's Health Diagnostics Market:
o Diagnostic tests segment accounted for around 55.1% share of the global women's health diagnostics market in 2016
o Diagnostic devices segment is expected to grow at a CAGR of 6.5% from 2017 to 2023.
o Hospitals and clinics segment accounted for around 49.8% share of the global women's health diagnostics market in 2016
o North America accounted for around 33.7% share of the global women's health diagnostics market in 2016
o Asia-Pacific is expected to grow at the highest CAGR of 8.1% from 2017 to 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.
Moreover, presence of key players and advanced diagnostics procedures such as 3D mammography. However, Asia-Pacific is expected to grow at the highest CAGR of 8.1% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards various women related disorders.
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