Womens Health Diagnostics Market - Forecast(2023 - 2028)
Womens Health Diagnostics Market Overview
Health Diagnostics Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of
the following segments of the Womens Health Diagnostics Industry.
By Application: Osteoporosis testing, Cancer treatments (breast cancer, ovarian cancer, cervical cancer, and others), infectious ailments testing (sexually transmitted disease testing and HIV testing), Prenatal testing, and others.
By End User: Hospitals, Diagnostic facilities, Clinics, Cancer treatment centers, and others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
- Geographically, the North America Womens Health Diagnostics Market accounted for the highest revenue share in 2021. The growth is owing to high health cognizance among women. Unlike many other countries worldwide women in the US, Canada, and other North American nations have equal excess to resources. Moreover, state-of-the-art healthcare infrastructure driving the abovementioned market. Moreover, Asia-Pacific is poised to dominate the market over the period 2022-2027.
- Augmenting research activities, the breakthroughs in imaging techniques, spiraling prevalence of chronic maladies are said to be preeminent drivers driving the growth of the Womens Health Diagnostics Market. The extortionate cost of diagnostic procedures and scarcity of experienced professionals are said to reduce the market growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Womens Health Diagnostics Market report.
Womens Health Diagnostics Market Share, By Geography (%) in 2021For more details on this report - Request for Sample
Womens Health Diagnostics Market Segment Analysis-By Application
The Womens Health Diagnostics Market based on the application type can be further segmented into osteoporosis testing, cancer treatments (breast cancer, ovarian cancer, cervical cancer, and other), infectious ailments testing (sexually transmitted disease testing and HIV testing), prenatal testing, and others. The cancer segment held the largest share in 2021. The growth is owing to an ultramodern lifestyle of today’s contemporary society. Prolonged sittings, smoking, excess alcohol consumption, and mounting obesity complications are the primary factors driving women over the edge of cancer. Also, hormone replacement therapy (HRT) which aims at the replacement of estrogen and menopausal treatment has its realistic role in augmenting the prevalence of breast cancer in women worldwide. Furthermore, the cancer along with infectious ailment testing segment is estimated to be the fastest-growing with a CAGR of 8.1% over the forecast period 2022-2027. This growth is owing to the rising spread of infectious ailments like HIV and several other sexually transmitted sicknesses. Moreover, the existence of Point of Care Testing (POCT) is proving to be a blessing in the treatment of infectious ailments as it reduces the overall time and helps in swift diagnosis.
Womens Health Diagnostics Market Segment Analysis-By End-user
The Womens Health Diagnostics Market based on end-user can be further segmented into hospitals, diagnostic facilities, clinics, cancer treatment centers, and others. The hospital segment held the largest share in 2021. The growth is owing to the widescale existence and availability of best-in-class tools and techniques required for diagnostic purposes. Unlike other medical facilities, hospitals are large settings that extend one-stop-solution to patients and they don’t have to wander across separate facilities to undergo diagnostic and treatment procedures. As a result, hospitals have emerged as the first point of contact for patients throughout the world. Moreover, the hospital segment is estimated to be the fastest-growing with a CAGR of 8.3% over the forecast period 2022-2027. This growth is owing to the growing allocation of funds in the wake of COVID-19 for remodeling healthcare infrastructure. Also, the enlarging spread of chronic illnesses is providing several growth opportunities.
Womens Health Diagnostics Market Segment Analysis-By Geography
The Womens Health Diagnostics Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 34% of the overall market in 2021. The growth in this segment is owing to the factors such as escalating breast cancer prevalence. Also, unhealthy lifestyles such as bad sedentary habits, little to no manual work, bad ingestion are driving the demand for womens health diagnoses. Similarly, high attentiveness regarding health complications and the presence of sophisticated health infrastructure such as world-class hospitals and diagnosing facilities are ensuring a steady growth of the aforementioned market in North America. However, the Asia-Pacific segment is expected to be the fastest-growing over the forecast period 2022-2027. This growth is owing to the surging geriatric population. Moreover, poor hygiene, negligence regarding sexually transmitted maladies such as HIV, and ameliorating healthcare infrastructure attributed to rising economic prosperity are the preeminent factors providing growth prospects for the said market.
Diagnostics Market Drivers
High prevalence of cancer and other chronic illnesses are Anticipated to Boost Market Demand.
Spiraling government spending is Expected to Boost Market Demand.
Rising complications of osteoporosis, infectious illnesses, obesity, and cancer are putting additional weight on the healthcare systems of the countries. In addition to that, as prominent health bodies worldwide have issued a warning that the threat of another pandemic is very likely governments have raised overall healthcare spending. For instance, with a 9.7 percent hike, U.S. healthcare spending crossed the $4 trillion mark in 2020. Similarly, to overcome the existing shortcomings the Indian government spiked healthcare expenditure by 137 percent last year. Enlargement inflow of hard cash is ensuring rehabilitation of healthcare infrastructure which is eventually driving the womens health diagnostics market.
Womens Health Diagnostics Market Challenges
Extortionate cost of contemporary imaging procedures and scarcity of professionals are Anticipated to Hamper Market Growth.
There are various diagnostic procedures that are quite expensive which many people may struggle to afford. On another hand, the initial set-up of facilities equipped with necessary tools and techniques is too high which can be a big setback for the steady growth of the womens healthcare diagnostics market. For instance, the price of an MRI machine (per piece) may vary from $40 thousand to $2 million. In addition to that, the field requires professionals with an adequate amount of skillset. Therefore, the scarcity of top-flight medical professionals may hamper the growth of the aforementioned market.
Womens Health Diagnostics Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Womens health diagnostics market top 10 companies include-
- Thermo Fisher Scientific
- Koninklijke Philips
- Cook Medical
- Cardinal Health
- Siemens Hologic
- Shimadzu Corporation
- Becton, Dickinson and company
- Medgyn Products
- Carestream Health
- On September 20, 2021, U.S.-based company “Thermo Fisher Scientific” announced the successful acquisition of the California, United States-based medical device and equipment manufacturer “Combinati Incorporated.” The transaction has added digital PCR technology to Thermo fisher’s portfolio which will enhance the company’s expertise in oncology therapies.
- On April 15, 2021, Massachusetts, United States-based well-recognized company “Thermo Fisher Scientific” a firm which operates in laboratory product manufacturing and life science solutions North Carolina, United States-based contact research organization “pharmaceutical Product development”, commonly known as PPD. A jaw-dropping payment of $17.4 billion was paid by Thermo in order to wrap up the process.
- On January 8, 2019, Ohio, United states-based health care services provider “Cardinal Health” announced that it has successfully acquired Virginia, United States-based company “Mirixa Corporation, a famous player in healthcare technology such as medication therapy management (MTM). Also, the financials of the transaction were not revealed by the company.
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