Women’s Health Diagnostics Market Qualitative Insights On Application 2027
Women’s Health Diagnostics Market: Introduction
According to the report, the global women’s health diagnostics market was valued at ~US$ 30.7 Bn in 2018 and is projected to expand at a CAGR of ~6% from 2019 to 2027. Rise in prevalence of menopause, favorable incentive and reimbursement policies for UTIs, and technical advancements are anticipated to augment the global market from 2019 to 2027. North America and Western Europe are expected to account for significant shares of the global women’s health diagnostics market. Asia Pacific is projected to be a highly lucrative market for women’s health diagnostics in the next few years. However, high competition is anticipated to restrain the growth of the global women’s health diagnostics market.
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Rise in Number of Menopausal Women to Propel Market
Menopause is defined as a permanent cessation of menstruation resulting from loss of activity of ovarian follicles. In a majority of women, menopause is a natural event occurring at the age of around 51.3 years. The number of women entering the menopause stage is increasing due to unhealthy lifestyle and different environmental factors. Presently, over 5 million women in Canada aged between 45 and 65 either have gone through menopause or will soon do. The average age of menopause in Canada is 51 years.
Favorable Incentive and Reimbursement Policies for UTIs to Augment Market
Incentive policies for antibiotic consumption are favoring the urinary tract infection (UTI) treatment market, as governments of most countries approve the use of antibiotics in UTI treatment and provide reimbursement for it. Economic incentives are also provided all along the supply chain, which consists of distributors, suppliers, hospitals, clinics, and communities. Over 80% of antibiotics are used in countries where purchasing of antibiotics without prescription is common. These include countries such as India, China, and other low- and middle-income countries.
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Risk of Breast Cancer Due to HRT Treatment to Restrain Market
Risk of breast cancer associated with hormone replacement therapy (HRT) treatment has been one of the leading challenges in the past few years. HRT is an effective short-term treatment for menopausal symptoms; however, it increases the risk of breast cancer. Incidence rate of breast cancer has dropped sharply in the U.S., as a large number of women have stopped using menopausal hormones. Decline in adoption of HRT treatment can negatively affect the global women’s health diagnostics market.
Asia Pacific Women’s Health Diagnostics Market to Expand Significantly
Rise in prevalence of cancer & infectious diseases, increase in collaborations between hospitals and tissue banks, and surge in investments in research & development are likely to drive the women’s health diagnostics market in Asia Pacific during the forecast period. This market in Asia Pacific is likely to expand at a high CAGR from 2019 to 2027. Growth of the women’s health diagnostics market in the region can be attributed to increase in health coverage, rise in healthcare expenditure, surge in awareness among people, and government initiatives.
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Competition Landscape
The report also provides profiles of leading players operating in the global women’s health diagnostics market. These include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, F. Hoffmann-La Roche AG, GE Healthcare, Hologic, Inc., Koninklijke Philips N.V., Quest Diagnostics, Inc., Cardinal Health, and Siemens AG.
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