Latest Study on “Women’s Health Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Women’s Health Diagnostics market size is expected to be worth around US$ 38.4 billion by 2027, according to a new report by nova one advisor.
The global Women’s Health Diagnostics market size was valued at US$ 26.1 Billion in 2020 and is anticipated to grow at a CAGR of 8.0% during forecast period 2021 to 2027.
Overview of Women’s Health Diagnostics Market Study
Women’s Health Diagnostics market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
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the demand for various health diagnostic tests has increased significantly across the globe. Currently, the market is mainly driven by growing awareness about various health-related disorders, rising incidence of chronic and lifestyle disorders, and the high prevalence of infectious diseases such as HIV and hepatitis in women across the globe. The increasing adoption of POC diagnostic testing and the growth in the number of diagnostic and imaging centers are also expected to support the growth of this market during the forecast period. However, the high cost of diagnostic devices, tests, and procedures; shortage of skilled laboratory technicians; and insufficient reimbursements for diagnostic tests are expected to restrain this market’s growth to a certain extent.
Women’s Health Diagnostics Market Dynamics
Driver: High prevalence of infectious diseases in women
Diagnostic tests such as POC tests are commonly used to detect HIV among patients. A rapid POC HIV test enables physicians to provide results and the HIV status of patients during the same visit. It does not require pre-test and post-test counseling of patients, as is common during traditional laboratory analysis. In addition to HIV, women are more susceptible to other sexually transmitted diseases (STDs) and their long-term complications. In the US, more than 50% of preventable infertility cases are related to STDs. Most sexually transmitted pathogens can be passed to the fetus or infant, sometimes with fatal consequences. Rapid POC tests can improve the management of infectious diseases, such as HIV, UTIs, and tuberculosis, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructures are outdated.
Restraint: High cost of diagnostic imaging systems and procedures
Most hospitals in developing countries cannot afford high-cost diagnostic imaging systems. The average cost of MRI machines is approximately USD 1.5 million to USD 2.0 million, while CT machines cost approximately USD 1.0 million to USD 1.5 million. Due to the high cost of these systems and low financial resources of hospitals, healthcare facilities such as hospitals and diagnostic centers 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.
Opportunity: Growing number of regulatory approvals for immunoassay diagnostic techniques
Immunoassays are a commonly used technology/platform for diagnosing various conditions in women. In the past few years, many new immunoassays have received FDA or CE Mark approvals. Some examples are listed below:
- In September 2019, Roche Diagnostics Ltd. (Switzerland) received FDA approval for the cobas HBV and cobas HCV viral load test assays to be used with its cobas 6800 and cobas 8800 Systems.
- In March 2018, Alere, Inc. (US) received the IVD CE Mark for its Alere q HIV-1/2 Detect assay, a new molecular diagnostic platform that offers POC access for acute detection of HIV in mothers and infants.
- In July 2018, Alere’s Determine HIV-1/2 Ag/Ab Combo was approved by the FDA to detect the HIV p24 antigen and antibodies to HIV-1 and/ or HIV-2 through POC testing.
Challenge: Increasing adoption of refurbished diagnostic imaging systems
Many hospitals in developing countries cannot invest in diagnostic imaging equipment due to their high cost, poor reimbursement rates, and budgetary constraints. However, due to the high demand for diagnostic imaging procedures in these nations, hospitals that cannot afford to invest in new imaging systems opt for refurbished ones. Refurbished systems are priced lower than new systems, costing approximately in the range of 40% to 60% of the original price of the equipment.
Owing to this, many market leaders are now promoting refurbished devices through various programs. For instance, Siemens’ Medical Proven Excellence Program, GE Healthcare’s Gold Seal Program, and Philips’ Diamond Select Program are some noteworthy global refurbishing programs promoting the utilization of refurbished diagnostic imaging systems.
The breast cancer testing segment accounts for the largest share of the market, by application, in 2019
Based on application, the women’s health diagnostics market is divided into nine segments—osteoporosis testing, OVC testing, cervical cancer testing, breast cancer testing, pregnancy & fertility testing, prenatal genetic screening & carrier testing, infectious disease testing, STD testing, and ultrasound tests. The breast cancer testing segment accounted for the larger market share in 2019. The large share of this segment can be attributed to the increasing incidence of breast cancer and rising awareness about advanced breast cancer diagnostic techniques, such as ABUS.
The home care settings segment is expected to grow at the highest CAGR during the forecast period
Based on end users, the women’s health diagnostics market is segmented into hospitals & clinics, diagnostic & imaging centers, and home care settings. The home care settings segment is expected to witness the highest growth during the forecast period. The increasing advantages of using self-testing kits will continue to drive market growth. Patient self-testing enables patients to better manage their diseases by utilizing home/self-testing kits. Technological advancements have made many self-testing kits available for various conditions, such as pregnancy and ovulation.
North America is expected to account for the largest share of the women’s health diagnostics market in 2019
In 2019, North America accounted for the largest share of the women’s health diagnostics market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be attributed to the increasing prevalence of cancer among women, the growing focus of manufacturers of women’s health diagnostic products on expanding their presence in this region, and the increasing demand for fertility testing monitors. In addition, the rising acceptance of POC diagnostics and PST practices is also expected to drive the growth of this regional segment during the forecast period.
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COVID-19 Impact on Women’s Health Diagnostics Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Women’s Health Diagnostics market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Women’s Health Diagnostics market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Women’s Health Diagnostics market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Women’s Health Diagnostics market include:
Quest Diagnostics Incorporated (US), Hologic, Inc. (US), Siemens AG (Germany), PerkinElmer, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Cardinal Health, Inc. (US), General Electric Company (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), bioMérieux SA (France), Koninklijke Philips N.V. (Netherlands), Guided Therapeutics, Inc. (US), SuperSonic Imagine (France), FUJIFILM Holdings Corporation (Japan), DIALAB GmbH (Austria), Carestream Health, Inc. (US), MedGyn Products, Inc. (US), Cook Medical, Inc. (US), Osteometer MediTech, Inc. (Denmark), and NeuroLogica Corporation (US)
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Women’s Health Diagnostics Market, by Application
- Osteoporosis Testing
- Bone Densitometry
- In Vitro Blood Tests
- OVC Testing
- OVC Tumor Marker Tests
- OVC Diagnostic Imaging Tests
- Other OVC Tests
- Cervical Cancer Testing
- Pap Smears
- HPV Testing
- Breast Cancer Testing
- Breast Cancer Tumor Marker Tests
- Other Breast Cancer Tests
- Pregnancy & Fertility Testing
- Lab-based Testing
- Pregnancy Testing & Ovulation Prediction Kits
- Fertility Monitors
- Prenatal Genetic Screening & Carrier Testing
- CF Testing
- Down’s Syndrome and Edwards’ Syndrome Testing
- TORCH Testing
- Other Prenatal Genetic Disease Tests
- Infectious Disease Testing
- MRSA Testing
- UTI Testing
- Hepatitis Testing
- Tuberculosis Testing
- Other Infectious Disease Tests
- STD Testing
- CT/NG Testing
- HIV Testing
- Other STD Tests
- Ultrasound Tests
- Breast Imaging
- OB/GYN Imaging
Global Women’s Health Diagnostics Market, by End User
- Hospitals & Clinics
- Diagnostic and Imaging Centers
- Home Care Settings
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The purpose of Nova one advisor’s Women’s Health Diagnostics market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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