Women’s Health Diagnostics Market Report to 2031
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COVID-19 Impact on Women’s Health Diagnostics Market
COVID-19 pandemic has affected more than 200 countries worldwide. Companies have been pressured to upsurge production capacity and raise the supply of products and other commodities. The pandemic has negatively impacted all the economies and industries across the world. Visiongain has anticipated four scenarios for the Women’s Health Diagnostics market in the given timeframe, viz., V, U, W, and L. The most favorable scenario for this market is expected to be the V scenario which is reliant on the entire pharmaceutical supply chain. This scenario is likely when countries ease lockdown implementations and have actual treatment and vaccines in place.
Rising Incidence of Chronic and Lifestyle-Related Disorders in Women
The growth in socio-economic impact on women across the globe is increasing. Hence, the necessity for their well-being is vital. The rising number of women professionals and the necessity for care towards their well-being for their work efficacy can support the upsurge of the women's healthcare market in the given timeframe. Health situation, unique to women, such as infertility, menopause, polycystic ovarian syndrome, and cancers such as cervical cancer, breast cancer, and urological disorders needs special care. Chronic disorders, like heart disease and stroke, cause more mortality rates.
As per the Centers for Disease Control and Prevention (CDC), nearly 1.70 million people die from a chronic disease every year in the USA. Although chronic diseases are the major reason for death for men and women alike because women face unique health issues. Around 37% of women suffer from chronic diseases, compared to 30% of men. Initial identification of any health issues with the help of diagnostic devices, for instance, breast MRI, ultrasound, and pregnancy and fertility testing are basic. Hence, the increase in demand for women's health solutions for different medical situations pushes the target industry growth further. The growing awareness regarding women's health solutions to rural areas across the globe is expected to gain significant growth during the forecast period.
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Growing Adoption of Point-Of-Care and Rapid Diagnostic Tests
The target market growth is predominantly attributed to the growing acceptance of point-of-care and quick diagnostic tests, the rising number of private diagnostic centers, and the growing awareness regarding fertility testing in women and initiatives taken by health organizations and government. Besides, improving healthcare infrastructure in developing countries and the increasing number of regulatory endorsements for immunoassay techniques further offer lucrative growth opportunities for the global key players operating in the women's health diagnostics market. However, the shortage of skilled laboratory technicians and the high price of diagnostic imaging systems & procedures may hinder the target industry growth at a certain point.
Some of the major companies operating in the global Women’s Health Diagnostics market are Siemens AG, Becton, Dickinson, and Company (BD), Alere Inc., Abbott Laboratories, F. Hoffmann-La Roche AG, Koninklijke Philips N.V., GE Healthcare, Quest Diagnostics Inc., PerkinElmer Inc., and bioMÃ©rieux SA.
To tap into the emerging market, key players are focusing on product launches, expansion, and mergers & acquisitions. For instance, In May 2019, Cardinal Health introduced the RADIAL 360 range in the U.S. on the other hand, In May 2019, Roche introduced the VENTANA HER2 Dual ISH DNA Probe Cocktail test for identifying the HER2 biomarker in breast cancer and gastric. This will help to attain a major market share for the company.
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