Womens Health Devices Market

Increased awareness of Women's health issues and Rise in prevalence of diseases about women's health is driving the market growth

Market CAGR for Women’s Health Devices is being driven by the Increased awareness of women's health issues and the rise in the prevalence of diseases in women's health. In the context of contemporary demographics, the global female population has witnessed a substantial increase in its proportion. Simultaneously, the healthcare infrastructure worldwide, particularly in emerging economies, is anticipated to undergo significant enhancements. These improvements in the overall healthcare landscape have also amplified awareness and sensitivity to women's health concerns. These favorable market dynamics are propelling the growth of the global women's health devices market in the projected period. 

Multiple research studies have highlighted a notable rise in the prevalence of women's health conditions over recent decades. To mitigate mortality rates among female patients grappling with critical illnesses, several governments have initiated programs to promote and safeguard women's health. For instance, in January 2022, the U.S. Food and Drug Administration's Center for Devices and Radiological Health (CDRH) unveiled the Health of Women Program Strategic Plan, a strategic move to advocate for and safeguard women's health.

The overall surge in the prevalence of women's health conditions can be attributed to various factors, including advancements in diagnostic technologies and an increased emphasis on preventive care. Notably, certain female-specific cancers, such as cervical cancer, can be effectively treated when detected early. For instance, data from the World Health Organization (WHO) in 2022 revealed that cervical cancer ranks as the fourth most common cancer among women, with an estimated 604,000 new cases in 2020. This heightened prevalence of women's diseases has generated greater demand for a diverse array of women's health devices.

As a result, it is anticipated that throughout the projection period, demand for the Women’s Health Devices Market will increase due to the Increased awareness of Women's health issues and the Rise in the prevalence of diseases about women's health. Thus, driving the Women’s Health Devices Market revenue.

The increasing awareness surrounding women's health issues is a notable driver in the Global Women’s Health Devices Market Industry. As educational initiatives and health campaigns proliferate, women are becoming more informed about their health needs, leading to a higher demand for specialized health devices. This trend is reflected in the market's projected growth, with an estimated value of 63.0 USD Billion in 2024. The emphasis on preventive care and early diagnosis is likely to further stimulate the adoption of devices such as fertility monitors and menstrual health trackers, thereby enhancing overall health outcomes for women globally.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. According to the CDC, 6 IN 10 Adults in the US have a chronic disease. Cardiovascular disease is responsible for one in three deaths - 859,000 people - in the United States. Heart disease and stroke are responsible for $216 billion in healthcare system costs and $147 billion in lost job productivity. 

The prevalence of chronic diseases affecting approximately 60% of the U.S. population has played a pivotal role in driving demand for women's health devices. Additionally, leading market players in the region have directed significant investments toward research and development, clinical trials, and the marketing of innovative healthcare devices. These strategic efforts are anticipated to create an additional surge in demand for women's health devices across the United States and Canada.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: WOMEN’S HEALTH DEVICES MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Women’s Health Devices Market accounts for the second-largest market share as Europe boasts a well-established healthcare system with a strong emphasis on women's health. The region allocates significant financial resources to support women's healthcare, including investments in cutting-edge medical technologies, diagnostic apparatus, and specialized treatments for women-centric medical conditions. 

According to Eurostat, the European Union's collective general government expenditure on healthcare in 2021 amounted to a substantial €1,179 billion, equivalent to 8.1% of the region's GDP. Notably, countries like Germany and France led the way by allocating more than 12% of their respective GDP to healthcare. Sweden, Austria, the Netherlands, and Belgium also committed more than 11% of their GDP to healthcare, reflecting the region's strong commitment to health-related expenditures. Further, the German Women’s Health Devices Market held the largest market share, and the UK Women’s Health Devices Market was the fastest-growing market in the European region

The Asia-Pacific Women’s Health Devices Market is expected to grow at the fastest CAGR from 2023 to 2032. The expansion of healthcare infrastructure in Asian nations, the rising incidence of women's health conditions, and the growing awareness of technologically advanced women's health devices are significant drivers propelling market growth in the region. A notable example of this trend is the Class III approval granted by China's National Medical Products Administration to Japanese diagnostics company Sysmex for its Lynoamp BC in vitro diagnostic reagent for breast cancer in January 2020.

Such noteworthy product approvals within the region, combined with an uptick in healthcare investments, are anticipated to make a substantial contribution to robust regional market growth. Moreover, China’s Women’s Health Devices Market held the largest market share, and the Indian Women’s Health Devices Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Women’s Health Devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Women’s Health Devices industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Women’s Health Devices industry to benefit clients and increase the market sector. In recent years, the Women’s Health Devices industry has offered some of the most significant advantages to the field of healthcare and the well-being of women. Major players in the Women’s Health Devices Market, including 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.) are attempting to increase market demand by investing in research and development operations.

Coloplast A/S is a leading manufacturer and provider of a wide range of healthcare products and services. Their product portfolio covers ostomy care, respiratory solutions, urology care, continence care, and skin and wound care. This encompasses various essential items such as urisheaths, ostomy bags, catheters, anal irrigation systems, sling products, advanced dressings for wound care and skin protection, cleansers, moisturizers, skin protectants, anti-fungal products, and hand cleansers. The company markets its products under multiple brand names, including SenSura, SpeediCath, Persiteen, Biatain, Conveen, InterDry, Brava, and Comfeel.

Coloplast distributes its products through subsidiary companies and a network of distributors, reaching healthcare facilities, wholesalers, retailers, and institutions across Europe, Africa, South America, the UAE, Singapore, Asia, Russia, Australia, and North America. Coloplast's headquarters are situated in Humlebaek, Denmark.

Hoffmann-La Roche Ltd is a prominent biotechnology firm specializing in the development of drugs and diagnostic solutions for the treatment of major diseases. The company's extensive product portfolio includes medications for cancer treatment, various auto-immune conditions, central nervous system disorders, ophthalmological issues, infectious diseases, and respiratory ailments. Additionally, Roche offers in vitro diagnostics, tissue-based cancer diagnostics, and diabetes management solutions. Roche is dedicated to research aimed at discovering innovative approaches to disease prevention, diagnosis, and treatment. Its products and services are made available to a diverse clientele, including hospitals, healthcare professionals, commercial laboratories, researchers, and pharmacists.

The company operates in numerous countries worldwide, in collaboration with its subsidiaries and partners. Roche is headquartered in Basel, Switzerland. In December 2021, the company introduced the PIK3CA Mutation Test, serving breast cancer patients in regions where the CE mark is recognized, thereby offering a valuable diagnostic option.