26 September 2020
Women’s Health Diagnostics Market Forecast 2020-2030: Forecasts and Analysis By Application, By End-Use, and Geography, with Profiles of Leading Companies, with Profiles of Leading Companies report provides impartial Women’s Health Diagnostics sector analysis.
According to the report published by Visiongain, the Women’s Health Diagnostics market was valued at approximately USD xx billion in 2019 and is expected to grow at a CAGR of around xx% between 2020 and 2030. Women are expected to drive the market during the forecast period by rising prevalence of infectious diseases, including hepatitis and urinary tract infection. It is vital that electronic and wearable mammograms such as breast MRI, ultrasound or bone density assessments can be used to diagnose any health problems early. Medical advances provide lucrative possibilities to monitor women's-centric conditions including infectious diseases, osteoporosis, and breast cancer. It is estimated that this works for the market. Women are 30.0% more prone to HIV infection compared to men according to data published by the National Center for Biotechnology Information (NCBI). Women are expected to drive the market over the duration of forecasting and raise their incidence of infectious diseases, such as hepatitis and urinary tract infection.
Women’s Health Diagnostics Market is witnessing Growth due to factors such as
Countries have endorsed global efforts to promote women's health through the adoption of the 2030 Sustainable Development Agenda. The Sustainable Development Goals and the Global Strategy for Women, Kids and Adolescent Health are being pushed forward. The 66th session of the WHO Regional Committee for Europe will be considered in September 2016 to reinforce action as part of progress in the Health 2020 agenda, a women's health and well-being Strategy in the 2017-2021 WHO European Region. The background to the strategy is provided in this report. It presents an instantaneous overview of women's health in the region, analyzes the social, economic and environmental factors affecting women's health and well-being, focuses on the impact of gender discrimination and gender stereotypes, takes into consideration what the concept of human centered health systems should be used to meet women's needs and regards important perspectives.
Countries have supported global efforts to promote women's health through the adoption of the Sustainable Development Strategy for 2030. The Sustainable Development Goals and Global Strategy are being pursued to support women, children and young people's health. The WHO Regional Committee for Europe's 66th Session 2016 will be considered in order to strengthen action as part of advancing the Agenda for Health 2020, a Strategy on Women's Health and Well-being in the European WHO Region 2017–2021. The strategy is backed by this report. It presents a snapshot of the health of women within the Region, discusses Social, Economic and Environmental Factors, that determines the health and well-being of women, focuses on the impact of discrimination based on gender and gender stereotyping, considers what the concept of human health systems needs in order to address the needs of women.
The industry was categorized into cancer screening, diabetes monitoring, osteoporosis testing, maternity & reproduction testing and prenatal testing depending on use. In 2017, cancer dominated the market by introducing hybrid imaging instruments that were technologically advanced with increased precision. Quest Diagnostics, for example, acquired Med Fusion and Clear Point laboratories in Texas in July 2017 to expand its laboratory business to diagnose women's cancer.
Various partnerships between key players, policymakers and other organizations are able to support market growth, improving patient exposure to the treatment of different diseases. In November 2017, for example, the BGI and the Tanenbaum Research Institute of Lunen Feld signed a joint agreement on developing a genomic early diagnostic test for premature birth and other complications for women who are susceptible of pregnancy.
Shift in Trends
The largest share of women's diagnostic health markets in 2019 was represented by hospitals and diagnostic centers. The category will retain its market position by 2025, since physicians are typically the first option to detect cancer, infectious disease and osteoporosis, among other issues. During the period forecast, the home segment should see lucrative growth as market players invest in the commercialization of mobile and point-of-service equipment. In addition, increasing awareness of home diagnostic devices is estimated to boost the segment's growth.
Diagnostic testing provided the greatest share of the market in 2019 and should remain so for the full period of the prediction. Diagnostic tests include different female health tests, such as conception and ovulation, breast cancer screening, ovarian cancer testing, and others. Increasing numbers of female health conditions, and a rise in knowledge on various tests drive the market for diagnostic testing, such as increasing acceptance of points of care diagnostics. However, expanded health care spending, recognition of malignant tumors and modern, advanced systems of diagnostics further promote the development of women's market in medical diagnostics.
Regional Market Analysis
The growth in the market in health diagnostics for women is expected to boost market growth for women in emerging markets, in particular in the Asia-Pacific and LAMEA regions. The annual mortality rate per 100,000 people from ovarian cancer rises at an average of 3.7 percent per year, according to the Health Metrics and Evaluation Institute. However, the Census 2011 figures in South Africa indicate that in 2011 nearly 2,5 million people belonged to the 60-year and older age group in South Africa. These individuals are therefore likely to suffer from different disorders of medical and lifestyle. LAMEA thus provides women's health diagnostics market with a huge customer base.
America, with a share in 2019 of a little over 38.0 percent, was at the forefront of the global market. The high level of adoption of technologically advanced products, product launch and government initiatives can be attributed to this. Philips, for instance, launched a new, innovative ultrasound products Philips EPIQ 7, EPIQ 5 and Affinity 70 in September 2017, making diagnostics easier, earlier and more reliable. This launch will probably help to expand the area. In the USA, a home test kit has been launched by Home Access Medical, which can be used to collect a specimen for a fast and effective diagnostic screening laboratory.
Asia Pacific is projected to be the fastest growing market during the forecast period. Improving infrastructure, growing recognition of women's health issues, government initiatives and expanded involvement by women in the workforce are all variables that are ready to expand the regional market.
Competition in the market
The main strategies used by market players to remain competitive include mergers and acquisitions, partnerships, and regional presence enlargement. Quest Diagnostics, for example, acquired in September 2017 two HHC hospitals, the Hospital of Central Connecticut and the Hospital of William W. Backus, in order to improve its laboratory services. Hologic, Inc. entered a strategic alliance with Quest Diagnostics in June 2013 in order to expand its product product range in the women's health diagnostics segment of Aptima products. Furthermore, in September 2016, GE Healthcare entered into a partnership with Trice Imaging, Inc. for Tricefy, a cloud-based image sharing solution. This partnership enhanced its ultrasound women’s health product portfolio.
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