Women's Health Diagnostics Market Size

Women's Health Diagnostics Market Analysis

The Women's Health Diagnostics Market size is estimated at USD 28.88 billion in 2024, and is expected to reach USD 39.40 billion by 2029, growing at a CAGR of 6.41% during the forecast period (2024-2029).

• During the early days of the COVID-19 pandemic, the women's health diagnostics market experienced a setback due to unfavorable changes in guidelines and regulations, as well as postponed and limited screening, operations, and diagnostic tests at hospitals and breast cancer treatment facilities. However, in the later stages of the pandemic, there was an increase in demand for diagnostic tests to identify menstrual abnormalities due to the post-COVID impacts on the menstrual cycle.
• Research published in the Journal of Education and Health Promotion in June 2022 showed that SARS-CoV-2 occurrences caused ovarian, uterine, and vaginal infections due to the widespread expression of angiotensin-converting enzyme 2 (ACE2), disrupting the female reproductive system's operations, resulting in infertility and various menstrual illnesses. Thus, COVID-19 patients were advised to complete their fertility assessments after recovery. These factors have created a demand for various diagnostic tests. They are expected to stabilize the loss incurred during the initial pandemic days, fueling the growth of the women's health diagnostics market during the forecast period.
• The market is expected to experience rapid growth due to the increasing incidence of chronic and lifestyle-related disorders, the rising number of imaging and diagnostic centers, and the increased adoption of point-of-care and rapid diagnostic tests, along with collaborations and partnerships by players. The increasing burden of diseases such as breast cancer, ovarian and cervical cancer, autoimmune diseases, and infertility among women creates the need for proper diagnosis. Additionally, the increasing stress rate among women is driving the burden of various conditions such as obesity, the risk of drug abuse, and increasing alcohol use, further leading to infertility among them.
• For example, data updated by the Census Bureau in April 2022 showed that fertility rates of women ages 20-24 declined by 43% in recent years, with only 66.59 births to every 1,000 women in that age range, indicating a 42.79% decline in fertility from past decades. Furthermore, as per a study published and revised by NIH in January 2023, nearly 11% of women of reproductive age, i.e., 18 to 35 years in the United States, have experienced fertility problems in current years. Thus, with the increasing rate of infertility among women, the demand for fertility testing and diagnosis is increasing in developing countries, which is anticipated to fuel market growth during the forecast period.
• Moreover, with the increasing awareness among women about their health and the rising burden of diseases, there is a constant need for imaging and diagnostic centers worldwide. Since most diagnostic and imaging tests are performed at diagnostic centers, it is expected to drive the market's growth. The Food and Drug Administration's (FDA's) Mammography Quality Standards Act and Program (MQSA) update in March 2023 showed that nearly 24,710 accredited units for mammography were present in about 8,821 certified facilities in the United States as of March 2023. Thus, the availability of such facilities in developing countries worldwide creates several opportunities for women's health diagnostics and is expected to drive the market's growth.
• Furthermore, the various strategies adopted by key market players are expected to boost the market. For instance, in June 2021, OWN (Oprah Winfrey Network) and its first-ever health initiative, Own Your Health, announced an exclusive partnership with Hologic's Project Health Equality public health initiative. The collaboration aims to raise awareness about disparities in healthcare quality received by Black women in the United States for breast, cervical, and uterine fibroids. Therefore, the rise in demand for the development of diagnostic devices, a rise in healthcare infrastructure, and new marketing initiatives by key vendors in emerging countries are expected to provide lucrative opportunities for market expansion during the forecast period.