Categories: Healthcare

Womens Health Diagnostics Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Womens Health Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Womens Health Diagnostics Global Market Report 2024, The womens health diagnostics market size has grown strongly in recent years. It will grow from $32.9 billion in 2023 to $35.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased awareness and education, risen female population over 40, government initiatives for women’s health, preventive healthcare trends, changed lifestyles and health concerns.

The womens health diagnostics market size is expected to see strong growth in the next few years. It will grow to $49.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to rising incidence of reproductive health issues, growing aging population of women, advancements in personalized medicine, expanding role of genetic testing, increased focus on non-communicable diseases. Major trends in the forecast period include menopause management, preventive and early detection, inclusivity and diversity, pandemic-driven digitalization, environmental and lifestyle considerations.

The rise in the prevalence of chronic diseases is expected to propel the growth of the women’s health diagnostics market going forward. Chronic diseases are long-lasting conditions that typically progress slowly over time and require ongoing management and care. The rising prevalence of chronic illnesses leads to an increased demand for women’s health diagnostics that aid in the identification and tracking of conditions such as breast cancer, cervical cancer, and reproductive disorders. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least 1 chronic condition would increase to 142.66 million by 2050. Therefore, the rise in the prevalence of chronic diseases in women is driving the growth of the women’s health diagnostics market.

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The womens health diagnostics market covered in this report is segmented –

1) By Type: Accessories And Consumables, Diagnostic Tests, Diagnostic Devices

2) By Application: Osteoporosis Testing, Ovarian Cancer Testing (OVC), Cervical Cancer Testing, Breast Cancer Testing, Pregnancy And Fertility Testing, Prenatal Genetic Screening And Carrier Testing, Infectious Disease Testing, Sexually Transmitted Diseases (STD) Testing, Ultrasound Tests

3) By End User: Hospitals And Clinics, Diagnostic And Imaging Centers, Homecare, Other End Users

Technological advancements in women’s personalized health solutions are the key trend gaining popularity in women’s health diagnostics. Major companies involved in the women’s health diagnostics market are focused on technological advancements and innovating new products to improve their observation power and sustain their position in the market. For Instance, in February 2022, FemTec Health, Inc., a US-based women’s health company, launched a direct-to-consumer (D2C) brand called Awesome Woman that provides personalized health and wellness products for women at all life stages. The brand leverages AI, machine learning, and customer data related to genomics, genetics, and health history to develop customized offerings. Their personalized subscription box may include vitamins, probiotics, and at-home tests tailored to individual needs. Users have the flexibility to select specific areas of health focus, such as vaginal and urinary health, reproductive health, hormone balance, and beauty, among others. Additionally, the service provides telehealth support to enhance the overall customer experience and accessibility for healthcare professionals.

The womens health diagnostics market report table of contents includes: