The global women’s health devices market size was valued at US$ 30.86 billion in 2021 and is expected to reach over US$ 62.34 billion by 2030 with a registered CAGR of 8.1% from 2021 to 2030.
A strong growth in the women’s healthcare expenditure has been witnessed across the globe. The growing focus on the women’s healthcare coupled with the increased personal disposable income of the women has fostered the growth of the women’s health devices market across the globe. The rising participation of the women in the workforce especially in the developed nations has significantly contributed towards the growth of the market. Moreover, the rising prevalence of chronic diseases like cancer, cardiovascular diseases, and diabetes among the women population is fueling the growth of the global women’s health devices market. According to the International Agency for Research on Cancer, the female breast cancer has become the most diagnosed type of cancer by surpassing the lungs 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 female were reported in 2020. These numbers are boosting the healthcare expenditure in the women’s health devices.
The lack of awareness regarding the female genital health and sanitization along with the underdeveloped healthcare infrastructure in the developing and the underdeveloped markets is presenting a huge growth opportunity to the market players. Furthermore, the rapidly growing geriatric population is expected to drive the market growth in the foreseeable future. According to the World Health Organization, the global geriatric population is expected to reach at 2 billion by 2050. Moreover, improving gender ratio in the developing nations owing to the government initiatives is expected to foster the growth of the women’s health devices market in the forthcoming years. Further, the rising complications related to the women’s fertility owing to the delayed marriage and pregnancy is fostering the demand for the women’s health devices across the globe. Rising government initiatives regarding the women empowerment and women health especially in the developing countries like India is resulting in growth of the women’s health devices market. The rising expenditure of the medical devices manufacturing companies for the development of the women focused health and medical devices is significantly fostering the growth of the market across the globe.
Scope of the Womens Health Devices Market
|Market Size||US$ 62.3 Billion by 2030|
|Growth Rate||CAGR of 8.1% from 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Product, Application, Region|
|Companies Mentioned||GE Healthcare, F. Hoffmann-La Roche, Hologic, Koninklijke Philips, Siemens AG, Prestige Consumer Healthcare, Inc., Abbott Laboratories, Caldera Medical, MedGyn Products, Medline Industries, Carestream Health|
Based on the application, the global women’s health devices market was dominated by chronic diseases segment. The various chronic diseases such as cancer, diabetes, cardiovascular diseases, and various others is rising at an alarming rate among the women owing to changing lifestyle, physical inactivity, and changing food habits. Cancer is the most dominant chronic disease among the female population. The rising burden of breast cancer, colorectum cancer, ovarian cancer, and lungs cancer among the women population has significantly contributed towards the growth of this segment across the globe.
The pelvic & uterine health is estimated to be the most opportunistic segment during the forecast period. According to the UCLA Health, one in three women are affected with the pelvic floor disorders once in their lifetime. The rising prevalence of the pelvic floor disorder, rising awareness regarding the vaginal disorders, and increasing prevalence of the urinary and fecal incontinence among the women population are the major factors that are expected to drive the growth of this segment during the forecast period.
End User Insights
The hospitals & clinics segment dominated the global women’s health devices market in 2020. This is simply attributable to the increased preference for the hospital services among the population for receiving treatment for majority of the diseases. The increased penetration of public and private hospitals, rising number of private clinics, strong and developed infrastructure for treatment and diagnosis at hospitals, and availability of special wards for serving women at hospitals are the major factors that has fostered the growth of the hospitals & clinics segment.
The home healthcare is estimated to be the fastest-growing segment during the forecast period. The rising disposable income, rising healthcare expenditure, growing awareness regarding the hospital acquired infections, and easy availability of the home healthcare services are the prominent factors that are expected to augment the demand for the home healthcare segment in the forthcoming years.
North America was the dominant women’s health devices market in 2020. The high healthcare expenditure on women’s health and higher adoption of the advanced healthcare devices among the women population in North America has driven the market growth in this region. Moreover, the presence of huge female population in the region along with the favorable reimbursement policies of the government has fostered the market growth in this region in the past few years. Moreover, around 60% of the US population is suffering from one or more chronic diseases and this is a major factors that has contributed towards the growth of the women’s health devices market. The growing investments in the research & development, clinical trials, and marketing of new health devices by the top market players in the region is expected to further boost the demand for the women’s health devices across US and Canada.
The Asia Pacific is estimated to be the most opportunistic market during the forecast period. The increased government initiatives to promote gender equality in the nation like India and China have resulted in a surge in the women population. Moreover, the rising participation of women in the workforce is resulting in the increased disposable income of the women. Apart from this, the improving access to healthcare infrastructure is boosting the growth of the women’s health devices market in Asia Pacific. The rising prevalence of various chronic diseases such as cancer, diabetes, cardiovascular diseases, and respiratory disorders among the women population is expected to augment the growth of the Asia Pacific women’s health devices market.
Key Market Developments
The various developmental strategies like acquisitions and mergers fosters market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players in the global women’s health devices market include:
Segments Covered in the Report
By End User
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