The global women’s health diagnostic market is witnessing considerable growth due to increasing geriatric population, increasing healthcare expenditure, increasing incidence of lifestyle diseases in women and growing awareness among women about various health disorders.
The rapid growth in emerging economies with increasing number of diagnostic and imaging centers and increasing adoption of point-of-care diagnostic testing drives the growth of the market. However, high cost of diagnostic imaging systems and procedures, and shortage of skilled laboratory technicians are the key restraints hampering the growth of the global market.
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As per the United Nations Department of Economic and Social Affairs (UN-DESA) report on the global aging population, the population of people aged 60 years or above is growing with high rate. In 2013, the global share of people aged 60 or above was 11.7% and it is expected to reach 21.1% by the end of 2050.
Further, the number of people aged 60 years and above is expected to reach approximately 437 million in China, 324 million in India, 107 million in the U.S. and 58 million in Brazil by 2050.
The increase in geriatric pool supports the market growth as aged people have weakened body functions, impaired blood circulation and are more susceptible to chronic diseases.
Europe has been the second largest market for women’s health diagnostic, where the market is driven by the presence of a large pool of cancer patients, increasing healthcare expenditure and rapidly developing healthcare infrastructure. In 2015, Germany led the European women’s health diagnostic market and it is also expected to grow at the fastest rate in Europe, during forecast period.
Globally, the women’s health diagnostic market in Asia-Pacific is expected to witness highest growth during the forecast period. The highest growth in the region is attributed to the increasing prevalence of chronic diseases, increasing per capita income leading to increasing standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about women’s health diagnostic tests in the region.
The key players operating in the global women’s health diagnostic market are F. Hoffmann-LA Roche AG, Siemens AG, Hologic, Inc., Quest Diagnostics Inc., Alere Inc., Perkinelmer, Inc., GE Healthcare, Koninklijke Philips N.V., Abbott Laboratories, Becton, Dickinson and Company and Biomérieux SA.
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