According to the new market research report "Women's Health Diagnostics Market by Application (Biopsy, Cervical Ovarian Cancer Testing, PAP Smear, HPV, TORCH, Prenatal Testing, Hepatitis, Ultrasound, Obstetrics), End User (Hospitals, Clinics, Home Care), COVID-19 Impact – Global Forecast to 2025", published by MarketsandMarkets™, the global Women's Health Diagnostics Market is projected to reach USD 36.6 billion by 2025 from USD 25.0 billion in 2020, at a CAGR of 7.9% during the forecast period. In the past decade, the demand for various health diagnostic tests has increased significantly across the globe.
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Womens Health Diagnostics Market Dynamics
Drivers: High prevalence of infectious diseases in women
Diagnostic tests such as POC tests are commonly used to detect HIV among patients. A rapid POC HIV test enables physicians to provide results and the HIV status of patients during the same visit. It does not require pre-test and post-test counseling of patients, as is common during traditional laboratory analysis. In addition to HIV, women are more susceptible to other sexually transmitted diseases (STDs) and their long-term complications. In the US, more than 50% of preventable infertility cases are related to STDs. Most sexually transmitted pathogens can be passed to the fetus or infant, sometimes with fatal consequences. Rapid POC tests can improve the management of infectious diseases, such as HIV, UTIs, and tuberculosis, especially in developing countries where access to timely medical care is a challenge and the healthcare infrastructures are outdated.
Restraints: High cost of diagnostic imaging systems and procedures
Most hospitals in developing countries cannot afford high-cost diagnostic imaging systems. The average cost of MRI machines is approximately USD 1.5 million to USD 2.0 million, while CT machines cost approximately USD 1.0 million to USD 1.5 million. Due to the high cost of these systems and low financial resources of hospitals, healthcare facilities such as hospitals and diagnostic centers are reluctant to invest in expensive equipment. Healthcare facilities that purchase these costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) to get reimbursements for the costs incurred in the diagnostic and screening procedures performed using these devices.
Opportunities: Growing number of regulatory approvals for immunoassay diagnostic techniques
Immunoassays are a commonly used technology/platform for diagnosing various conditions in women. In the past few years, many new immunoassays have received FDA or CE Mark approvals. Some examples are listed below:
- In September 2019, Roche Diagnostics Ltd. (Switzerland) received FDA approval for the cobas HBV and cobas HCV viral load test assays to be used with its cobas 6800 and cobas 8800 Systems.?
- In March 2018, Alere, Inc. (US) received the IVD CE Mark for its Alere q HIV-1/2 Detect assay, a new molecular diagnostic platform that offers POC access for acute detection of HIV in mothers and infants.
- In July 2018, Alere’s Determine HIV-1/2 Ag/Ab Combo was approved by the FDA to detect the HIV p24 antigen and antibodies to HIV-1 and/ or HIV-2 through POC testing.
Challenges: Increasing adoption of refurbished diagnostic imaging systems
Many hospitals in developing countries cannot invest in diagnostic imaging equipment due to their high cost, poor reimbursement rates, and budgetary constraints. However, due to the high demand for diagnostic imaging procedures in these nations, hospitals that cannot afford to invest in new imaging systems opt for refurbished ones. Refurbished systems are priced lower than new systems, costing approximately in the range of 40% to 60% of the original price of the equipment.
Owing to this, many market leaders are now promoting refurbished devices through various programs. For instance, Siemens’ Medical Proven Excellence Program, GE Healthcare’s Gold Seal Program, and Philips’ Diamond Select Program are some noteworthy global refurbishing programs promoting the utilization of refurbished diagnostic imaging systems.
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Key Market Players
The women’s health diagnostics market is highly competitive. The prominent companies in this market are Quest Diagnostics Incorporated (US), Hologic, Inc. (US), Siemens AG (Germany), PerkinElmer, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Cardinal Health, Inc. (US), General Electric Company (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), bioMérieux SA (France), Koninklijke Philips N.V. (Netherlands), Guided Therapeutics, Inc. (US), SuperSonic Imagine (France), FUJIFILM Holdings Corporation (Japan), DIALAB GmbH (Austria), Carestream Health, Inc. (US), MedGyn Products, Inc. (US), Cook Medical, Inc. (US), Osteometer MediTech, Inc. (Denmark), and NeuroLogica Corporation (US).
Hologic, Inc. holds the leading position in the women’s health diagnostics market, owing to its robust portfolio of breast imaging products and related accessories. Hologic has expanded its product portfolio through insight-driven innovation and strategic MAs to establish its position in the market. During the last three years, Hologic launched several systems and software, such as Unifi Analytics, the new Viera Portable Breast Ultrasound System, the Brevera Breast Biopsy System with CorLumina Imaging Technology, and the 3Dimensions Mammography System, in Europe.
Quest Diagnostics is the world’s leading provider of diagnostic information services and solutions. The company offers a broad portfolio of solutions in women’s health. These solutions span across areas of oncology, STDs, UTIs, HIV, pregnancy, and prenatal testing. The company has strategically enhanced its presence in the global women’s health diagnostics market by opting for organic growth strategies, such as product launches. In April 2019, the company launched three new sexually transmitted disease laboratory test packages.
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Related Reports:
Women’s Health Diagnostics Market by Application (Biopsy, Cervical Ovarian Cancer Testing, PAP Smear, HPV, TORCH, Prenatal Testing, Hepatitis, Ultrasound, Obstetrics), End User (Hospitals, Clinics, Home Care), COVID-19 Impact – Global Forecast to 2025
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