Global market for women’s health devices to reach £1.6 billion by 2021 according to a report
The global market for women’s health devices is forecast to grow from an estimated £1.1 billion ($1.8b) in 2014 to approximately £1.6 billion ($2.4b) in 2021, representing a compound annual growth rate (CAGR) of 3.7%, according to research and consulting firm GlobalData.
The company’s latest report states that the main areas of this growth will be across the ten major markets of the US, India, Brazil, China, France, Germany, Italy, Spain, the UK and Japan.
The report shows that the main drivers for the growth will include rising physician and patient awareness of minimally invasive techniques, an increasing number of women seeking treatment for reproductive and pelvic health–related disorders and the rising prevalence of these disorders.
Premdharan Meyyan, GlobalData’s analyst covering medical devices, said: “The understanding that a woman’s quality of life can be vastly improved by new technologies coincides with the awareness that a variety of new treatment options, such as global endometrial ablation and uterine artery embolisation, are far less invasive than surgery.
“For women who suffer from abnormal uterine conditions, such as heavy menstrual bleeding and uterine fibroids, these new technologies offer safe and effective alternative treatment options to patients who do not wish to undergo invasive surgery.
“While newer technologies have the potential to revolutionise the women’s healthcare market, more robust clinical data must be established before these segments can expand in earnest.
“Additionally, the high cost of these treatments may also be a barrier to market growth during the forecast period.”