Market Research Future (MRFR) has published on the “Global Women’s Health Devices Market”.
The Women’s Health Devices Market is estimated to register a CAGR of 8.30% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Women’s Health Devices Market— Coloplast A/S (Denmark), Hologic Inc. (U.S.), Boston Scientific Corporation (U.S.), ALLERGAN (AbbVie, Inc.) (U.S.), BD (Becton, Dickinson, and Company) (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), CooperSurgical Inc. (The Cooper Companies, Inc.) (U.S.), Caldera Medical (U.S.), Reckitt Benckiser Group PLC (U.K.)
Womens Health Devices Market Highlights
The global Women’s Health Devices Market is accounted to register a CAGR of 8.30% during the forecast period and is estimated to reach USD 98.78 billion by 2032.
The increased involvement of women in the labor force, particularly in developed economies, has made a substantial contribution to the expansion of the market. Furthermore, the growing incidence of chronic ailments such as cancer, cardiovascular diseases, and diabetes within the female demographic is acting as a driving force for the growth of the global women's health devices market.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of womens health devices market
Segment Analysis
The global Women’s Health Devices Market has been segmented based on Application, and End-user.
Based on Application, the market is segmented into General Health and wellness, Cancers and other Chronic Diseases, Reproductive Health, Pregnancy and nursing Care, Pelvic and uterine Healthcare, and Others. The cancers and other chronic diseases segment was attributed to holding the largest market share in 2022. Cancer stands as the prevailing chronic ailment affecting the female demographic. The increasing prevalence of breast cancer, colorectal cancer, ovarian cancer, and lung cancer among women has made a significant contribution to the global growth of this market segment. In India, there is a concerning trend where a higher number of women are being diagnosed with cancer compared to men. The Indian Council of Medical Research (ICMR) predicts that the number of cancer cases is expected to increase from 1.46 million this year to 1.57 million in 2025. The national average for cancer cases in 2022 is 100.4 cases per 100,000 individuals, with a notably high rate of 105.4 cases per 100,000 for breast cancer, a largely preventable disease.
Based on the End-user, the Women’s Health Devices Market has been segmented into Hospitals & Clinics, Home Healthcare, and Others. The hospitals & clinics segment was expected to hold the largest market share in 2022. The upsurge in the preference for hospital services for treating a wide spectrum of medical conditions is a straightforward result of the growing demand among the populace. This trend is underpinned by a multitude of factors, including the expanded accessibility of both public and private hospitals, a rising number of private clinics, the robust development of hospital infrastructure for diagnosis and treatment, and the provision of specialized wards catering specifically to women's healthcare needs. As per the CDDEP 2020 report, private hospitals constitute a significant share, accounting for 51% of the total number of hospitals and 59% of hospital beds. Over the years, the number of public hospitals in the country has witnessed a notable increase, growing from 25,770 in 2018 to 44,240 in 2020. In tandem with this growth, the count of public hospital beds has also risen, climbing from 713,000 in 2018 to 825,000 in 2020. Additionally, according to the India Brand Equity Foundation, India's public expenditure on healthcare has displayed a positive trajectory, reaching 2.1% of GDP in FY23, and 2.2% in FY22, marking a significant increase from the 1.6% figure reported in FY21, as documented in the Economic Survey of 2022-23.
Regional Analysis
The global Women’s Health Devices Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Women’s Health Devices Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Women’s Health Devices Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Women’s Health Devices Market comprises of Middle East, Africa, and Latin America.
The largest market share for the Women’s Health Devices Market was maintained by the North American regional sector. The women's health device market in North America has experienced robust growth due to substantial healthcare expenditure allocated to women's health and the widespread adoption of advanced healthcare devices by women. According to the U.S. Centers for Medicare & Medicaid Services' NHE projections for the years 2022-2031, it is evident that in 2020, per capita healthcare spending for females stood at $10,887, which marked a 14% higher expenditure compared to males, who had an average spending of $9,554. This spending disparity extended to different age groups as well. Notably, in 2020, per capita spending for male children in the 0-18 age group exceeded that of females by 10%. In contrast, among working-age adults, the trend was reversed, with females incurring 20% more in per capita healthcare spending than males. For older adults, per capita spending was only 2% higher for males when compared to females. This region benefits from a sizable female population, coupled with government policies that offer favorable reimbursement for healthcare services, which have further propelled market expansion in recent years.
Moreover, the Europe market has been persistently growing over the forecast period. Europe has secured the second-largest share of market revenue, primarily due to significant investments in women's healthcare across key European nations and a substantial female demographic in the region. To illustrate, data from Breast Cancer Now reveals that in 2021, approximately 55,000 women receive a breast cancer diagnosis each year in the United Kingdom. The region's notable incidence of female-specific cancers in key European countries is anticipated to be a driving force behind its growth prospects.
Government initiatives in countries like India and China aimed at fostering gender equality have led to a notable increase in the female population. Simultaneously, the growing participation of women in the workforce is contributing to an upsurge in their disposable income. These developments, coupled with enhanced access to healthcare infrastructure, are driving the expansion of the Women's Health Devices Market in the Asia Pacific region. Furthermore, the increasing incidence of chronic diseases, including cancer, diabetes, cardiovascular ailments, and respiratory disorders among women, is anticipated to further bolster the growth of the Asia Pacific women's health devices market. As per the 2021 International Diabetes Federation Atlas, it is projected that by 2045, the global population will expand by approximately 20%. However, the number of individuals diagnosed with diabetes is expected to surge by a much more significant 46%. Notably, this increase is particularly pronounced in Asia, where four out of the five countries with the highest diabetes prevalence are located. These countries include China, India, Pakistan, and Indonesia, with a respective estimated diabetic population of 140 million, 74 million, 33 million, and 19.5 million people.
Furthermore, the rest of the world's Women’s Health Devices Market is divided into the Middle East, Africa, and Latin America. Several Middle Eastern countries, including the United Arab Emirates and Saudi Arabia, have been making substantial investments in healthcare infrastructure. These investments include advanced medical technologies and devices, which cater to the healthcare needs of women.
Key Findings of the Study
- The global Women’s Health Devices Market is expected to reach USD 98.78 billion by 2032, at a CAGR of 8.30% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because Many countries in the Asia-Pacific region have made substantial investments in healthcare infrastructure. These investments include the development and upgrading of hospitals, clinics, and medical facilities. With better healthcare infrastructure, there's an increased ability to provide and utilize women's health devices for diagnosis, treatment, and preventive care.
- Based on Application, the cancers and other chronic diseases segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Coloplast A/S (Denmark), Hologic Inc. (U.S.), Boston Scientific Corporation (U.S.), ALLERGAN (AbbVie, Inc.) (U.S.), BD (Becton, Dickinson, and Company) (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), CooperSurgical Inc. (The Cooper Companies, Inc.) (U.S.), Caldera Medical (U.S.), Reckitt Benckiser Group PLC (U.K.)
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Companies Covered | 15 |
Pages | 128 |
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