Women Health Market is set to garner staggering revenues by 2025
The Women Health Market is driven by increase in aging female population, change in lifestyle, and initiatives from governments and nonprofit organizations to spread awareness about women’s health. Emphasis on preventive care and widespread awareness regarding women’s disorders has reinforced industry growth. Excellent health insurance coverage has significantly increased demand for women’s health care services. Increasing private insurance coverage will boost the growth of the women health market. Every woman faces certain gynecological issues in her life. Most of these issues can be treated with proper treatment; however, these can sometimes be fatal if not diagnosed at the right time. Increasing prevalence of women-specific health issues is one of the major factors contributing to the growth of the women’s health market. Unavailability of proper medical care and lack of awareness about importance of health care management among the women in developing countries are factors likely to hamper the growth of the women health market. High costs of treatment, tests, and procedures are restraining the women health market.
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The global women health market has been categorized based on product type, disease indication, end-user, and region. In terms of product, the market includes devices such as biopsy devices, imaging and monitoring system, ultrasound devices and others. Based on disease indication, the global women health market has been segmented into cancer, cardiovascular, bone diseases, and others. The cancer segment is further categorized into breast cancer, cervical cancer, and others. Cardiovascular diseases and breast cancers are the major causes of death among older women, irrespective of the level of economic development of the country in which they live. In terms of end-user, the market has been segmented into hospitals, clinics, diagnostic centers, and home care settings.
Geographically, the global women health market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the largest market for women health, followed by Europe. Rise in number of diseases, increase in health care expenditure, and rise in awareness concerning women health care in developed countries are the factors contributing to market growth in this region. Asia Pacific represents the fastest-growing market for women health, primarily due to development and modernization of health care infrastructure, increasing per capita income, and rising focus by key players on establishment of new distribution networks in economically growing region. Furthermore, increase in population in developing countries such as India and China and rise in prevalence of chronic diseases such as heart disease and cancer are driving the women health market in Asia Pacific.
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Key players in the global women health market are Abbott Laboratories, Merck & Co., Inc., Novo Nordisk A/S, Pfizer, Inc., MedGyn Products, Inc., GE Healthcare, Siemens AG, F. Hoffmann-La Roche AG, Quest Diagnostics, Inc., and Becton, Dickinson and Company, among others.
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