Published Date : 29 Nov 2022
The global women’s health devices market size was exhibited at USD 33.31 billion in 2022 and is expected to hold around USD 62.34 billion by 2030 growing at a CAGR of 8.1% during the forecast period 2022 to 2030.
The rising prevalence of chronic diseases among the women population, rising awareness regarding the women's healthcare, increasing adoption of advanced healthcare devices, and rising focus of the manufacturers pertaining to women’s healthcare are the prominent factors responsible for the growth of the global women’s health devices market. The rising demand for minimally invasive procedures is expected to boost the demand for the women’s health devices market. The increasing burden of chronic diseases is boosting the demand for minimally invasive procedures and various diagnostic devices across the globe. Moreover, the increasing awareness regarding pregnancy and family planning is expected to boost the demand for contraceptives among the women population that will contribute towards the growth of the market in the forthcoming years. Furthermore, the rising awareness regarding sexually transmitted diseases is expected to play a crucial role in the market growth.
Women’s Health Devices Market Report Scope
|Market Size In 2022||USD 33.31 Billion|
|Market Size By 2030||USD 62.34 Billion|
|Growth Rate from 2022 to 2030||CAGR of 8.1%|
|Forecast Period||2022 to 2030|
North America dominated the global women’s health devices market, garnering a market share of around 32% in 2020. This is attributed to the increased awareness and higher adoption of women’s health devices like medical implants and self-diagnostic devices. Moreover, the rising corporate and government focus on women’s health and wellness has accelerated the investments on the development of women-focused healthcare devices. Moreover, the increased adoption rate of technologically advanced digital health devices among consumers in North America has fostered market growth. The increased prevalence of chronic diseases in North America had resulted in increased healthcare expenditure, which significantly contributes towards the growth of the women’s health devices market.
Asia Pacific is estimated to be the most opportunistic market. The rising women population, growing prevalence of chronic diseases, rising healthcare expenditure, rising focus of government on women’s health, and rising investments on the development of sophisticated healthcare infrastructure are the primary drivers of the women’s health devices market in the Asia Pacific market. The growing geriatric population is also expected to have a positive impact on the market. According to the United Nations, around 80% of the global geriatric population is expected to live in low and middle-income countries.
Driver: The Growing prevalence of chronic diseases among the women population
According to the International Agency for Research on Cancer, around 2.3 million new cases of breast cancer were reported in 2020. Around 9.2 million new cases of cancer and 4.4 million cancer deaths in females were reported in 2020. Moreover, the rising prevalence of diabetes, osteoporosis and cardiovascular diseases among women is expected to drive the growth of the global women’s health devices market, during the forecast period.
Restraints: Lack of awareness regarding women’s health in the developing countries
There is a lack of awareness regarding women’s health devices and women’s diseases in underdeveloped and developing nations. Moreover, the lack of proper healthcare infrastructure and high costs of women’s health devices are the major factors that may hinder the growth of the global women’s health devices market, in the forthcoming years.
Opportunity: Technological advancements in the healthcare devices
The integration of the latest technologies like IoT and AI in health devices has augmented the demand for various women’s health devices across the globe. The rising preferences for technologically advanced devices especially in developed markets like Europe and North America is expected to offer growth aspects to the market players.
Challenges: Improper reimbursement policies
Many people depend on reimbursement for receiving treatment. In developing nations, there is a lack of penetration of healthcare insurance, especially among the women population. The lack of proper reimbursement policies regarding health devices and insurance in underdeveloped and developing nations is a major challenge that can restrict market growth.
Key Players in the Report
Segments Covered in the Report
By End User
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