Empowering Women's Health: Global Devices Market Overview 2024

"The Business Research Company recently released a comprehensive report on the Global Women's Health Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The women's health devices market size has grown rapidly in recent years. It will grow from $37.68 billion in 2023 to $41.64 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increase in awareness about women's health and well-being, rise in prevalence of women-specific health issues, expansion of healthcare infrastructure, rise in disposable income, rise in healthcare spending.

The women's health devices market size is expected to see rapid growth in the next few years. It will grow to $63.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to supportive government initiatives, changing lifestyles and dietary habits, expanding geriatric female population, ongoing research and development, increasing focus on personalized medicine. Major trends in the forecast period include wearable women's health devices, telemedicine and remote monitoring, ai and machine learning integration, non-invasive and minimally invasive procedures, menopause management solutions.

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Market Drivers and Trends:

An increase in government programs aimed at raising awareness about women's health is contributing to the growth of the women's health devices market going forward. Government programs aimed at raising awareness about women's health refer to initiatives and awareness events organized by the government to make the population aware of some societal boosting the public healthcare system's efficiency and effectiveness. These government programs help create awareness, which in turn increases the need for women's health devices for easy diagnosis. For instance, in March 2022, according to the Department of Health, Victoria, the Victorian government released its first-ever women's sexual and reproductive health strategy and priority action plan for women's sexual and reproductive health. The plan is supported by a $6.6 million investment for action and education to reduce stigma and improve knowledge of sexual and reproductive health and other such issues. Therefore, an increase in government programs aimed at raising awareness about women's health is expected to boost demand for women's health devices during the forecast period.

Technological advancement is a key trend gaining popularity in the women's health devices market. Many companies operating in the women's health devices sector are looking for new technologies to strengthen their position in the women's health devices market. For instance, in May 2022, iSono Health, a US-based medical equipment manufacturing company, launched ATUSA, which is the world's first portable and automated 3D breast ultrasound scanner. This combines a unique 3D ultrasound scanner with artificial intelligence to perform full breast scans and accurately locate breast tumors. It automatically captures the entire breast volume, allowing for unremarkable breast ultrasound imaging at the point of care without the need for a trained ultrasound driver. This launch represents another step forward for the company and the female population.

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Major Key Players of the Market:

Abbott Laboratories, Koninklijke Philips N.V., CooperSurgical Inc., F. Hoffmann-La Roche Ltd., Caldera Medical Inc., Medtronic plc, Johnson & Johnson, GE HealthCare Technologies Inc., Siemens Healthineers AG, Hologic Inc., Boston Scientific Corporation, Cardinal Health Inc., Becton, Dickinson and Company, Olympus Corporation, Fujifilm Holdings Corporation, Stryker Corporation, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Intuitive Surgical Inc., Merck & Co. Inc., Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Illumina Inc., Agilent Technologies Inc., Bio-Rad Laboratories Inc., PerkinElmer Inc., Abcam plc, Active Motif Inc., Diagenode Inc.

Women's Health Devices Market 2024 Key Insights:

• The women's health devices market size is expected to see rapid growth in the next few years. It will grow to $63.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
• Government Initiatives Bolstering Growth In The Women'S Health Devices Market
• Innovations In Technology Paving The Way For Advanced Women'S Health Devices
• North America was the largest region in the women's health devices market in 2023

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This release was published on openPR.