Women's Health Devices Market - Forecasts from 2023 to 2028

The women's health devices market is expected to grow at a CAGR of 15.44% from US$25.310 billion in 2021 to US$69.129 billion in 2028.

The women's health devices market is anticipated to grow at a steady pace throughout the forecast period. Women’s health devices are exclusively designed to track and treat women-related illnesses such as breast cancer. Numerous health issues in women such as breast cancer, ovarian cancer, and gynecologic health, and their growing prevalence rate is a major growth driver in the women’s health devices market. Moreover, the rising female population coupled with increased awareness about women's health is further expected to boost the women’s health devices market.

Numerous Associated Illnesses in Women

Multiple women-associated health concerns and their higher prevalence rate is a major growth drivers in the women’s health devices market. Women are more susceptible to HIV/AIDS than men and one-third of the health problems affecting women between the ages of 15 and 44 have a sexual or reproductive health component. In the 30 countries in Africa, the Middle East, and Asia where female genital mutilation (FGM) is practiced, more than 200 million girls and women worldwide have suffered FGM in 2023 as per the WHO reports. Moreover, a maternal fatality happened nearly every two minutes in 2020, and nearly 800 women per day passed away from pregnancy- and childbirth-related avoidable causes according to the WHO.

Growing Prevalence of Breast and Ovarian Cancer

The growing incidence of breast cancer and its adverse health effects is contemplated to augment the women’s health devices market. In 2020, 685,000 women worldwide died and 2.3 million women were diagnosed with breast cancer. Breast cancer was the most common cancer in the world by the end of 2020, with 7.8 million women living with breast cancer who had received a diagnosis within the previous five years as per the WHO. The other women-specific ovarian cancer cases are affecting a huge women population indicating the need for women’s health devices. According to the WCRF, the 18th most prevalent cancer overall and the 8th most common cancer worldwide in women is ovarian cancer.

Increased Elderly Female Population

The female population is rising worldwide and it is increasing the requirement of women’s health care thereby boosting the women’s health devices market. For instance, India had 1,020 women for every 1,000 men for the first time, according to the government's fifth National Family and Health Survey (NFHS), which was conducted between 2019 and 2021. Moreover, the older female population is more prone to numerous health issues such as diabetes, and ovarian cancer thus rising aging female population is propelling the women’s health devices market. For instance, there will be around 604 million elderly women in the world by 2025 according to the NCBI.

Multiple Awareness Programs on Women’s Health

The awareness programs and initiatives being taken by several organizations worldwide are improving women’s health awareness thereby aiding the women’s health devices market. Additionally, the Office of Human Research and Community Engagement (OHRCE), Clinical Research Branch (CRB), and National Institute of Environmental Health Sciences (NIEHS) are leading the Women's Health Awareness (WHA) Community Engagement Programme, an innovative environmental health research, and advocacy initiative in North Carolina.

Opportunities in the Market

All the growth factors mentioned provide an immense opportunity to enter the women’s health devices market. Moreover, the increasing investment need in women’s health being addressed by various factors is also extending the women’s health devices market. For instance, at a conference of the World Economic Forum in January 2023, it was recognized that an estimated $300 million investment in women's-specific research might result in a $13 billion economic return and save money on healthcare, improve quality of life, and add years to the global workforce's productivity. Further, women-led healthcare companies are growing significantly, for example, Maven Clinic received a unicorn status in 2021. The investment focussed conferences coupled with government efforts and awareness campaigns are expected to positively impact the women’s health devices market.

North America is projected to grow significantly

The North American region is projected to hold a significant share of the women’s health devices market during the forecast period. Various factors attributed to such a share are increasing cases of breast cancer in US women, and increased awareness about women’s health. Each year, breast canceraccounts for 30% (or 1 in 3) of all new cases of USfemale cancer as per the American Cancer Society.Moreover, around 297,790 new instances of invasive breast cancer are estimated to be detected in US women in 2023 as per the same source. Moreover, women's participation in the workforce was around 56% in 2020 as per the US Labour Statistics Bureau, and women’s earnings as a proportion of men’s earnings have increased over time enabling women to spend more on their health and thereby boosting the women’s health devices market.

Women Health Devices Market Players

• A leading provider of pharmaceutical diagnostics, digital solutions, and medical technology worldwide isGE Healthcare. Voluson Women’s Health Ultrasound offered by the company is available in a wider range including Voluson™ Expert Series to encompass the most progressive imagining capabilities, and Voluson™ Performance for OB, GYN, and assisted reproductive medicine.
• Caldera Medicalis a US-based manufacturer of medical devices with a singular focus on the health of women and a goal of raising women's standards of living. Products offered by the company are Desara® for stress urinary incontinence, Vertessa® for sacrocolpopexy procedures, and Benesta® System for hard-to-reach fundal and corneal tissue.
• Hologicis one of the leading women’s health companies focusing on breast health, gynecologic health, sexual health, body composition, and skeletal health. 3Dimensions®Mammography System and 3DQuorum™ Imaging Technology are offered by the company for breast health.

Key Market Developments

• In January 2023,Mavano showcased the women’s health smart ring Evie at CES 2023 and completed a clinical trial in October 2022. The company is planning to seek FDA clearance which will make it the first consumer wearable that is also a medical device.
• In October 2022,Solera Health launched a first-of-its-kind Women’s Health Network of digital point solutions. It is built to build a network that spans the lifecycle of women’s unique health needs from pelvic floor dysfunction to menopause.
• In June 2021, Organon launched as the only global company of its size focused on women's health. With a mission to provide effective medicines and solutions, Organon is focused on enabling every woman to live a healthier life every day.

Segmentation:

By Application

• Cancer
• Osteoporosis
• Infectious Disease
• Uterine Fibroids
• Post-menopausal Syndrome
• Pregnancy
• Female Sterilization
• Other

By End-Users

• Hospitals
• Obstetrics & Gynecology Clinics
• Diagnostic Laboratories
• Ambulatory Surgical Centers

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others