The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The women’s health devices market has witnessed a substantial surge in recent years, with notable growth anticipated in the upcoming years. Let’s delve into the factors contributing to this growth and explore the key trends shaping the landscape.

Market Overview and Projections

The women’s health devices market size is on an upward trajectory, set to expand from $37.68 billion in 2023 to $41.64 billion in 2024, showcasing a Compound Annual Growth Rate (CAGR) of 10.5%. Looking ahead, the market is projected to reach $63.07 billion by 2028, driven by a CAGR of 10.9%. This growth is attributed to various factors such as government initiatives, evolving lifestyles, and ongoing research and development efforts.

Key Drivers of Growth in the Historic Period

• Increased awareness about women’s health
• Rise in prevalence of women-specific health issues
• Expansion of healthcare infrastructure
• Higher disposable income
• Growth in healthcare spending

Anticipated Trends in the Forecast Period

• Wearable women’s health devices
• Telemedicine and remote monitoring
• AI and machine learning integration
• Non-invasive and minimally invasive procedures
• Menopause management solutions

Addressing the Surge in Chronic Diseases

The rising incidence of chronic diseases plays a pivotal role in propelling the women’s health devices market. Specifically designed to cater to unique physiological needs, these devices contribute significantly to the early detection, continuous monitoring, and effective management of chronic diseases in females. As per the World Health Organization, non-communicable diseases (NCDs) or chronic diseases accounted for 74% of global deaths in September 2022. Cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes were among the leading causes.

Major Players in the Women’s Health Devices Market

Several prominent companies operate in the women’s health devices market, contributing to its growth and innovation. Key players include Abbott Laboratories, Koninklijke Philips N.V., CooperSurgical Inc., F. Hoffmann-La Roche Ltd., and Medtronic PLC, among others.

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Innovations Driving Market Advancement

Technological advancements take center stage as a key trend in the women’s health devices market. Companies strive to enhance their market presence through the incorporation of cutting-edge technologies. For instance, iSono Health introduced ATUSA, the world’s first portable and automated 3D breast ultrasound scanner, integrating artificial intelligence for accurate breast tumor detection. This exemplifies the ongoing efforts to advance healthcare technology for the benefit of the female population.

Strategic Acquisitions Shaping the Industry

In a strategic move in February 2022, CooperSurgical acquired Cook Medical’s reproductive health portfolio for $875 million. This acquisition positions both companies for future growth and technological advancements. Cook Medical, specializing in invasive medical devices for reproductive health, aligns well with CooperSurgical’s commitment to women’s healthcare.

Segmentation and Regional Insights

The women’s health devices market is segmented based on product, type, application, and end-user. Categories include Surgical, Diagnostics, Contraceptives, Labor and Delivery, and Critical Care, with further distinctions in Devices and Consumables. Applications range from Cancer and Osteoporosis to Pregnancy and Female Sterilization. End-users encompass Hospitals, Obstetrics and Gynecology Clinics, Diagnostic Laboratories, Ambulatory Surgical Centers, and other institutions.

In terms of regional dominance, North America took the lead in 2023, while Asia-Pacific is expected to witness the fastest growth during the forecast period.

Conclusion

The women’s health devices market is navigating an era of significant growth, fueled by factors such as increased awareness, technological innovations, and a rising focus on personalized medicine. As the industry evolves, the integration of advanced technologies, strategic acquisitions, and a comprehensive segmentation approach are shaping a future where women’s health is at the forefront of medical innovation and care.

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