Women's Health Diagnostics Market is anticipated to grow at a CAGR of 7.0% during the forecast period 2021-2031 | Abbott, BD, Cardinal Health, Inc., F.Hoffmann-La Roche Ltd

The global women's health diagnostics market was valued at USD 24.8 billion in 2021 and it is anticipated to grow up to USD 49.0 billion by 2031, at a CAGR of 7.0% during the forecast period.

Screening, testing or diagnosing, and monitoring of various women's health disorders such as ovarian cancer, breast cancer, menopause, pregnancy and cervical cancer are examples of women's health diagnostic methods. For the diagnosis of women's health-related diseases, various types of tests are available including Breast cancer testing, cervical cancer testing, prenatal genetic screening & carrier testing, pregnancy & ovulation testing, and ovarian cancer testing are all part of the diagnostic process. Moreover, imaging & monitoring systems, mammography systems, Biopsy devices, and other medical diagnostics devices that detect cancer, remove blockages, and capture images of internal organs to aid in disease screening and diagnosis. To avoid complications and improve quality of life, tests for screening and detection of various disorders are required. Health tests are essential for maintaining good health as well as preventing and treating serious diseases.

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Market Trends and Drivers

Rising prevalence of chronic and infectious diseases in females is poised to boost the market expansion. Changes in lifestyle and growing consumption of unhealthy food will upsurge the risk of disease. Moreover, lack of awareness regarding sanitation and genital health coupled with unavailability of well-developed healthcare facilities in developing economies will fuel the market growth during the forecast period. Additionally, increasing healthcare expenditure, availability of newer and advanced diagnostic systems and growth in awareness about malignant tumors, are anticipated to propel the industry growth in near future. Furthermore, growing number of product developments and strategic collaboration among the diagnostic device market players and their entry in developing countries provide numerous opportunities for market progression. Conversely, huge untapped market potential in emerging countries such as South Africa and India, as well as the development of novel and advanced imaging procedures such as miniature devices, are expected to provide market participants with lucrative opportunities

Market Restraints and Challenges

The market's growth is hampered by the high cost of imaging procedures and a scarcity of skilled professionals. Most hospitals in developing countries cannot afford high-cost diagnostic imaging systems. The average cost of CT machines cost approximately USD 1.0 million to USD 1.5 million and MRI machines is approximately USD 1.5 million to USD 2.0 million. Hence, high cost of these systems and low financial resources of hospitals, healthcare facilities including diagnostic centers and hospitals are reluctant to invest in expensive equipment. Healthcare facilities that purchase these costly systems often depend on third-party payers such as Medicare, Medicaid, or private health insurance plans to get reimbursements for the costs incurred in the diagnostic and screening procedures performed using these devices.

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Market Segments

By Type

• Diagnostic Devices
• Diagnostic Tests
• Accessories and Consumables

Major Players in the Global Women's Health Diagnostics Market

The key players in the market are Abbott (U.S.), BD (U.S.), Cardinal Health, Inc. (U.S.), F.Hoffmann-La Roche Ltd. (Switzerland), General Electric Company (U.S.), Hologic, Inc. (U.S.), Koninklijke Philips N.V. (Netherland), Quest Diagnostics Incorporated (U.S.), Siemens Medical Solutions USA, Inc. (Germany), and bioMérieux SA. (U.S.).

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