Factors such as growing awareness about various health-related disorders among women, rising incidence of various chronic and lifestyle disorders in women, and high prevalence of infectious diseases such as HIV and hepatitis in women across the globe are driving the growth of the market. Moreover, the increasing adoption of point-of-care diagnostic testing and the increasing number of diagnostic and imaging centers are also expected to play a major role in market growth.
What the Market Looks Like?
The global women’s health diagnostics market is projected to reach USD 36.64 Billion by 2021 from USD 25.03 Billion in 2016, at a CAGR of around 7.9% during the forecast period. In 2015, North America commanded the largest share of the global women health diagnostics market.
This market is mainly driven by the increased adoption of point-of-care & rapid diagnostic tests, growth in the number of private diagnostic centers, high prevalence of infectious diseases in women, rising incidence of chronic & lifestyle-related disorders in women and increasing awareness about fertility testing in women & initiatives taken by government and health organizations.
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What are Key Trends in the Market?
The growth of the Women’s Health Diagnostics Market is primarily influenced by the following factors:
- High Prevalence of Infectious Diseases in Women
- Rising Incidence of Chronic and Lifestyle-Related Disorders in Women
- Increasing Awareness About Fertility Testing in Women and IniTIAtives Taken By Government and Health Organizations
- Increased Adoption of Point-Of-Care and Rapid Diagnostic Tests
- Growth in the Number of Private Diagnostic and Imaging Centers
- Public-Private Partnerships to Enhance the Infrastructure of Diagnostic Imaging Centers
The global market has been segmented, on the basis of applications, and end users. On the basis of application, the market is segmented into various segments, namely, osteoporosis testing, ovarian cancer testing, cervical cancer testing, breast cancer testing, pregnancy & ovulation testing, prenatal genetic screening & carrier testing, infectious disease testing, sexually transmitted disease testing, and ultrasound.
In 2015, the breast cancer testing segment accounted for the largest share of the market. However, the prenatal genetic screening and carrier testing segment is expected to grow at a higher CAGR during the forecast period. This growth can be attributed to factors such as the growing number of doctors offering genetic screening tests to pregnant women and growing awareness about these tests.
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Geographically, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded the largest share of the global women health diagnostics market. The major share of this region can be attributed to increasing prevalence of cancer among women in this region, increasing incidence of lifestyle related health disorders, growing focus of manufacturers of women’s health diagnostic products on expanding their presence in this region, and increasing demand for fertility testing monitors.