(PharmaNewsWire.Com, August 10, 2021 ) The Key Growth Elements in Detailed?
The demand for various health diagnostic tests has increased significantly across the globe. Currently, the Womens Health Diagnostics Market is mainly driven by growing awareness about various health-related disorders, rising incidence of chronic and lifestyle disorders, and the high prevalence of infectious diseases such as HIV and hepatitis in women across the globe. The increasing adoption of POC diagnostic testing and the growth in the number of diagnostic and imaging centers are also expected to support the growth of this market during the forecast period.
Worldwide Growth Opportunities in Terms of Revenue:
The 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.
Growth Opportunity: 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.
The Asia Pacific women’s health diagnostics market is expected to grow at the highest CAGR from 2020 to 2025. Improving healthcare infrastructures, growing per capita incomes, and the rising focus of key market companies in this region are major factors driving the growth of the APAC womens health diagnostics market. Countries like India, China, and South Korea are expected to offer significant growth opportunities for companies operating in this market. This can primarily be attributed to rapid growth in the overall disease population in these countries, the epidemiological shift from infectious diseases to chronic diseases, and the increasing income of the middle-class population in these countries.
Major Key Players Mentioned in the research report are:
The prominent players in Women’s Health Diagnostics Market are Quest Diagnostics Incorporated (US), Hologic, Inc. (US), Abbott Laboratories (US), Siemens AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Cardinal Health, Inc. (US), General Electric Company (US), and Becton, Dickinson and Company (US).
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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