Women’s Health Devices Market to Increase Gradually with the CAGR 9.3% with Market Valuation Reaching USD 95.16 Billion by 2030, Positive Developments in the Market with the R&D Initiatives for the New Products to Create Market Opportunities

The women’s health devices market size is estimated to display strong growth by reaching USD 95.16 billion by 2030. Fortune Business Insights™ in its report titled “Women’s Health Devices Market Size, Share & COVID-19 Impact Analysis, By Application (General Health & Wellness, Cancers & Other Chronic Diseases, Reproductive Health, Pregnancy & Nursing Care, Pelvic & Uterine Healthcare, and Others), By End-user (Hospitals & Clinics, Home Healthcare, and Others), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 47.02 billion and is expected to reach USD 51.01 billion in 2023 with CAGR 9.3%. The shift in the female demographics, younger generation of women is expected to adopt women’s health products intensely. Positive developments in the market with the R&D initiatives for the new products is set to drive the market growth. Strong number of product launches in the forecast period, ranging from diagnostic and monitoring devices to therapeutic devices is anticipated to develop demand for the products.

Boston Imaging Launched The HERA W10 Elite1

In February 2023, Boston Imaging launched the HERA W10 Elite1. It is the premier model of the HERA platform for Obstetrics and Gynecology. It provides clinicians powerful artificial intelligence (AI) tools and clinical applications to advance the diagnostic experience. Integration of new technologies in the product is set to drive the market with new opportunities for women’s health devices.

Limited Visits To Various Healthcare Professionals During The Pandemic Impacted The Market Growth

The COVID-19 pandemic negatively impacted the global market due to limited visits to various healthcare professionals. In 2020, the fertility segment of the CooperSurgical Inc. had declines in their revenues of 11.2%. However, this market witnessed a recovery in terms of sales of 39.2% in 2021. Furthermore, another key factor aiding the global market's rebound is the robust ongoing adoption of telemedicine during and after the pandemic. The growing trend of telemedicine enables the greater adoption of women's health devices. 

Robust Investments By The Key Market Players To Drive Market Growth

Robust investments by the key market players is predicted to drive women’s health devices market growth. These initiatives have the greater availability of more convenient and affordable options, which leads to greater adoption of these medical devices. Investment opportunities are expected to give rise to the launch of innovative products. In February 2021, Base increased the investment of USD 3.4 million to scale up affordable at-home lab testing. The prevalence of women's health diseases has increased dramatically due to several factors such as technological improvements in diagnostic devices and heightened awareness leading to the adoption of preventive care.

However, the symptoms of women's health diseases, such as female cancers, often are absent in the majority of the cases and cannot be accurately diagnosed. These would significantly hamper the survival rates of the women population in these countries.

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Product Offerings And Rising Strategic Initiatives By The Market Players To Drive Competitive Edge

In the current market scenario, F. Hoffmann-La Roche Ltd. dominates the market due to the diagnostics portfolio, which has several products catering to female health issues. Other companies such as CooperSurgical Inc., Coloplast A/S, and Hologic Inc. also account for a strong global market share due to their product offerings and rising strategic initiatives. In February 2022, CooperSurgical, Inc. acquired Cook Medical's reproductive health portfolio for USD 875 million. It includes medical devices for fertility, obstetrics, gynaecology, and in vitro fertilization.

Key Industry Development

• October 2022: Aspira Women's Health Inc. announced a co-marketing and distribution collaboration with BioReference. The two companies will co-market and distribute Ova1Plus, which combines Aspira's FDA-cleared blood tests, Ova1 and OVERA which detects the risk of ovarian malignancy in women with adnexal masses before surgery.

List of Key Companies Profiled in the Market Report:

• Coloplast A/S (Denmark)
•  Hologic Inc. (U.S.)
• Boston Scientific Corporation (U.S.)
• ALLERGAN (AbbVie, Inc.) (North Chicago, U.S.)
• BD (Becton, Dickinson, and Company) (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• CooperSurgical Inc. (The Cooper Companies, Inc.) (U.S.)
• Caldera Medical (U.S.)
• Reckitt Benckiser Group PLC (U.K.)

Further Report Findings

• The global women’s health devices market share is led by North America due to strong healthcare expenditure for women’s health and the comparatively stronger demand for technologically advanced devices. The region has the valuation of USD 21.43 billion in 2022.
• Europe had the second-largest market women’s health devices share in 2022 with high women populace. In 2021, according to Breast Cancer Now, an estimated 55,000 women are diagnosed with breast cancer annually in the U.K.

Table of Segmentation