Women Health Devices Market: Top 5 trends driving the industry size through 2025
Consistent occurrence of health-related disorders in women will boost the adoption of women health devices over the coming years. Women, specifically over 63 years of age are mostly diagnosed with ovarian cancer. The American Cancer Society revealed that ovarian cancer ranks 5th among the cancer-related demises in women and is a prominent mortality factor in comparison to other health issues related to the female reproductive systems.
Global prevalence of gynecological cancer along with the expansion of the older female population base has led to an inclined need for advanced diagnostics, complimenting the adoption of women health medical devices. Technological developments in the healthcare sector have driven the rising preference to opt for minimally invasive surgeries.
Various initiatives formulated by health organizations and governments have resulted in improvements in awareness and access to women healthcare. As per reports, the global women health devices market size is projected to reach a yearly evaluation of more than USD 42.5 billion by 2025.
Extensive use in diagnostics and surgeries
Global share from the devices segment in the market is pegged to strike a 6.2% CAGR through the coming years with the surge in the number of female individuals opting for double mastectomies. There is also a higher penetration of advanced devices to cater to rising patient requirements in simplifying treatment processes.
Diagnostic women health devices contributed to around 25% of the annual remuneration in 2018 owing to the awareness pertaining to early disease diagnosis to maximize the opportunities for successful treatment outcomes in patients. The development of technically advanced diagnostic equipment like real-time 4D ultrasound (3DUS, 4DUS) has resulted in an accurate detection of symptoms to offer more convenient results and care in patients.
To access sample pages of this report titled, “Women Health Devices Market Size By Type (Devices, Consumables), By Product (Surgical, Diagnostic, Contraceptives, Labor & Delivery, Critical Care), By Application (Cancer, Osteoporosis, Infectious Disease, Uterine Fibroids, Post-menopausal Syndrome, Pregnancy, Female Sterilization), By End-use (Hospitals, Obstetrics & Gynecology Clinics, Diagnostic Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
Scope in treatment of fibroids
Uterine fibroid application of health devices for women will witness a CAGR of more than 6.5% up to 2025. As per the U.S. department of health and human services (HHS), over 20 to 80% of women above 50 years of age tend to develop fibroids and there are over 400,000 new uterine fibroid instances diagnosed annually in women over 40 years in the U.S.
Gynesonics, a medtech firm, launched the Sonata System, a medical device for women to treat symptomatic uterine fibroids, in July 2020. The system is a transcervical fibroid ablation equipment that makes use of radiofrequency (RF) energy in the minimally invasive treatment of the uterine fibroids.
ASC’s to see considerable footprint
Ambulatory surgical centers (ASCs) render cost-effective treatments to affected women and subject them to minimum hospital infection. Furthermore, multiple technological progressions will result in a robust inclination by patients towards these facilities.
Demand for women health devices across ambulatory surgical centers recorded a yearly revenue share close to USD 4 billion in 2018 and is expected to rise through the coming years.
Asia Pacific to witness rising adoption
The Asia Pacific women health devices market for women health devices is projected at a 7% CAGR through the coming years owing to the presence of a large female patient population base and their abilities to spend on healthcare. There is a considerable surge in consumer awareness with regard to disease detection and the availability of technically advanced treatment procedures.
Besides, there are significant improvements in healthcare offerings and a spike in funds collected by the government to work towards development in women health in the region.
Marketing strategies to influence the women health devices market growth
Solution providers in women health technology industry are keen on strategies to gain a competitive edge over other front runners. For instance, Caldera Medical entered a collaboration with Fiuga Partner to extend its support in urogynecological education to minimize the instances of stress urinary incontinence in women.
The global women health devices market players are CooperSurgical, Koninklijke Philips, Carestream Health, F. Hoffmann-La, Abbott Laboratories Cardinal Health Roche, MedGyn Products, Prestige Consumer Healthcare, GE Healthcare, Siemens, Hologic, and.
Regulation of periodic check-ups to help in preventive care for women in developing and underdeveloped economies has pushed the need for early disease diagnosis and treatments. There is an incremented focus on R&D activities by device manufacturers to introduce minimally invasive or non-invasive equipment to boost women health devices market.
The growing number of COVID-19 cases in women has also urged the adoption of women medical devices, particularly those suffering from ailments which may be worsened by the virus. However, higher device costs may hamper the overall women health devices market forecast to some extent.
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